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With offices in Florida and Massachusetts, our attorneys serve clients in the following localities: Florida, including Fort Lauderdale, Tamarac, Weston, Plantation, Miramar, Margate, Coral Springs, Parkland, Broward County, Boca Raton, Delray Beach, Boynton Beach, West Palm Beach, Palm Beach County, Avenutra, Miami, Miami-Dade County, Coral Gables, Massachusetts, Boston, Cambridge, Newton, Wellesley, Brookline, Waltham, South Boston, and Lexington.
REAL ESTATE CLOSINGS IN SOUTH FLORIDA AND BOSTON
Florida and Massachusetts Real Estate Transaction Attorney
Frequently Asked Questions
Q: What does the closing attorney actually do?
A: The closing attorney conducts the closing of the purchase and sale (or in some instances, refinance) or real property. In order to effectively perform
this task, the closing attorney must have a profound understanding of the purchase and sale contract, any loan that is to be made, the title commitment to the property, homeowners insurance, home warranties, the survey of the property and must be able to prepare documents that memorialize such matters. Furthermore, the closing attorney must establish a great deal of communication and coordination all parties involved in the transaction, including the seller, buyer, lender and real estate brokers. The closing attorney must efficiently supervise the closing itself, which includes collecting and distributing closing funds and providing title insurance for the lender and buyer in a timely manner. Every closing is different with varying particularities and therefore the closing attorney must be very organized and patient and flexible.
Q: Who typically picks the closing attorney?
A: It depends. There are firms that do nothing but closings and they work with a variety of Buyers, Sellers, Builders, Lenders and Agents. The firms are approved by the various lenders in the city. Often, the Builder, Agent or Lender have a strong relationship with a particular closing attorney or firm based on reliable service and they will direct the closing occur at that firm. Sometimes, the Builder, Buyer or Seller will request a specific closing attorney. The criteria should be reputation, quality service, and fair pricing rather than location or convenience. If this service provider is picked by someone other than you ask why that firm was chosen and express your preference if you have one.
Q: What typically happens during a closing?
A: In the most traditional sense, the buyer, seller, lender, real estate agent and the closing attorney attend to sign closing documents, transfer funds and exchange keys to the property. The closing attorney will go over each of the closing documents in detail with all parties. The closing attorney will make copies and distribute appropriate funds to the real estate brokers and to the seller. Typically, the whole closing process lasts only about 45 minutes to an hour.
Q: What is a survey and do I need (should I get) one?
A: A survey is a drawing of a particular piece of real property that shows legal boundaries, improvements and designated areas such easements, encroachments and setback lines that may affect title to the property. A survey also helps verify the actual property being bought. If there are any encroachments, fences, driveways or other improvements of violations of easements and/or setbacks, such problems or title defects may prevent an owner from improving or even selling their property. Furthermore, if a survey reveals such problems or title defects, the seller typically must resolve it prior to the closing on the sale or the buyer must accept such title defect. A current survey is always recommended.