An investment in knowledge always pays the best interest.” –Benjamin Franklin
It is important to do your research before hiring a company to help you with your buying/selling process. Many buyers, sellers and property owners have the misconception that a real estate lawyer will cost more than a title company. Due to this, they are uncertain whether or not they should use a title company or an attorney for their purchase, sale or refinance.
A title company is limited in the scope of services they can provide, as they can only order title and lien searches to insure title, whereas an attorney has the ability to review the terms of a contract, and provide legal advice. A Real Estate Attorney represents each and every client that hires them, overseeing their transactions until completion. They consider what’s in the best interest of their clients’ throughout the process, advocating for their benefits, while guiding them and being available to offer them support and advice.
Often times, real estate brokers have a financial connection to a title company and casually suggest or require their agents to refer their clients to a specific title company, simply because the company makes an additional fee from the settlement that comes from a property. This ultimately incurs more fees for the seller and the new owner.
It is imperative to research your options, and be protected and supported throughout the buying, selling, and renting process. Having a Real Estate Attorney on your side, such as Kadoch Law Group can help support your journey by preparing you step by step and simplifying the buying and/or selling experience overall.
In Florida, both, attorneys and title companies may issue title insurance. The title insurance rates are promulgated by the Department of Insurance, so title insurance obtained through an attorney is priced the same as a title company. Additionally, closing costs charged by an attorney acting as a closing agent are comparable to those charged by a title company.
One of the benefits of choosing to work with an attorney versus a title company is that it enables clients to receive true legal representation, one which helps protect interests in the transaction at a comparable price to a title company. Kadoch Law Group provides a one-stop law firm for their clients. Where their transactional practice is primarily focused in the areas of real estate, business sales and acquisitions, shareholders agreements, dispute resolution, and estate planning and more.
Unlike title companies, real estate attorneys often will save you double the money, as they can act as a title agent and attorney in one. Why settle for less when you can get an experienced attorney on your team?
No matter what role you play in the South Florida economy, you are impacting the housing market, either demographically or directly. If you are looking to buy a house, are having problems with your tenant, or are simply trying to find someone to navigate your contracts and simplify the buying and selling phase for you, give us a call and we will provide the best possible service to you as we do with all of our clients!