“It is a comfortable feeling to know that you stand on your own ground. Land is about the only thing that can’t fly away.” -Anthony Trollope
One of the most frequently asked questions about real estate law is, “What is it?”
Real estate law determines who may use and own land. This type of practice governs laws that consider property, such as commercial and residential real estate closings, residential and commercial loan closing, loan refinance closings, title, escrow and closing services, short sales negotiations and closings, asset protection, creditor rights and more.
Kadoch Law Group is a premier real estate law firm in Southeast Florida, concentrating on residential and commercial real estate transactions, and related services. Their firm has a wide-range of experience in this field and they are happy to answer questions and provide guidance regarding real estate law inquiries.
Real estate attorneys often get asked, “What are the benefits of working with a real estate attorney as opposed to a title company?”
Michael R. Kadoch, Esq., owner and founder of Kadoch Law Group, explains, “When you are not feeling well, do you want a nurse to diagnose and treat your problem, or a qualified doctor that went through seven years of schooling? A real estate attorney has gone through extensive formal education as opposed to a title agent that took a one week course, and as such, we are much more qualified and capable to try to avoid common pitfalls, as well as analyze and solve problems when they arise.”
Attorneys do not always own title companies, and due to this, the title companies are less qualified to provide legal advice throughout the settlement process. Additionally, as title insurance is promulgated by the State, the cost to work with an attorney is usually identical to that of a title company, and the variance in the settlement fee (if any) is usually minimal.
So, why settle for a clerk at a title company when you can have an experienced attorney on your team?
Real estate attorneys offer expert advice to first time buyers and can offer all clients support before, during, and after settlement. It is important for new buyers to have a qualified real estate attorney on their team, as their role is to review and explain the terms on a proposed contract before anything is signed. Furthermore, if a first time buyer needs to procure a loan in order to purchase the home, an attorney can help assist with finding a reputable lender, and have the lender pre-qualify their client before they start shopping for the home and submitting offers.
What kind of legal advice do I need you may ask? Well there is a host of legal issues to be addressed when purchasing a property and if you are buying your home it is most likely the biggest investment of your family.
Wouldn’t you like to know how should you hold title?
What is your legal obligation to your lender?
What happens if there is a foreclosure?
What are restrictive covenants and which are enforceable? What is part of the real estate and what is not?
What does the survey mean and are there any encroachments?
Will transferring your property to a corporation, LLC, or trust leave you with no title insurance?
What effect do restrictive covenants have on additions and improvements to real property?
These and many more other questions are asked throughout the process.
Wouldn’t you like to get the answers from a professional and experienced real estate attorney who deals with these issues day in and day?
Hiring a real estate attorney will provide clients with tips to ensure a smooth buying and selling experience, in addition to support during sales, negotiations and client protection. Give us a call to receive guidance from experienced real estate law attorneys!