Buying or selling a property is a big commitment

Real estate is a big part of Florida’s economy, and individuals and businesses alike are often looking for the right place to make a base. Between new shops needing a storefront to second homes near the shore, someone is always buying property to make a dream come true.

Title records are generally held by state and county authorities so that property owners in the entire jurisdiction are recorded. The buyer’s real estate agent or lender in a financed purchase will request the title from the seller’s attorney to begin the transfer after a purchase contract is signed.

The seller’s lawyer must coordinate the retrieval of tax information, loan statements, surveys and maintenance fees to show that the seller has the right to sell and that there are no other claims on the property. This may take several weeks from beginning to end.

The property’s jurisdiction will have public title records to show any liens or restrictions on sale. Any of these must also be reported. Then the deed must be transferred, the bill of sale must be issued. Other documents may be necessary as well.

A sale is considered complete or “closed” when the buyer and seller each sign the final documents and the county or other jurisdiction where the property lies is informed of the sale.

This process is often lengthy and complicated. An attorney may help best represent the interests of a buyer or seller and help ensure that nothing is left to chance. The decision to buy or sell a property is important enough to make sure that it is done right.

Source: Nov. 30, -0001

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