Why You Need an Attorney for Real Estate Closings: Protecting Your Investment Every Step of the Way

Buying a property is a major investment. Whether you are buying your first home, moving to a new residence, investing in a rental property, or are involved in a commercial protection transition, it is imperative that you ensure that all of the small details are taken care of properly. The real estate closing process is crucial. Even small issues can become huge problems down the road. At The Law Offices of Odelia Goldberg, we have extensive experience helping clients with real estate closings. In this article, our Fort Lauderdale real estate lawyer explains how an attorney can help protect your investment during the real estate closing process in Florida. 

What is a Real Estate Closing?

As stated simply by Investopedia, a real estate closing is “the final phase of a transaction.” It is the part of the process where ownership is transferred from the seller to the buyer. During the meeting, all parties involved—including the buyer, the seller, their respective attorneys, and, in some cases, a real estate agent—can finalize the transaction. Some of the key aspects of closing include: 

• Signing legal documents (dead, mortgage papers, etc); and
• Handling of finances (closing costs, disbursing escrow, etc). 

At the end of the closing process, the buyer will receive the keys to the property, and the seller will receive payment for the sale. It is the official finalization of the transaction. Ideally, there will be no issues that arise immediately before or during closing that cause the purchase to be delayed or, worse yet, the transaction to fall apart. 

Five Reasons Why You Need a Lawyer for Your Real Estate Closing

1. A Real Estate Purchase Agreement is a Contract (Document Should Be Reviewed Bya  Lawyer)

Buying a home—or commercial property—means signing a real estate purchase agreement. That agreement is a binding contract. Without the proper professional legal guidance, you might overlook important details. Why does it matter? It could cause problems later. A Fort Lauderdale, FL, real estate closing lawyer can review the document to ensure it protects your interests. Along with other things, an attorney can explain complex terms and suggest changes to the agreement if any are appropriate. By having an attorney look over the agreement, you reduce the risk of legal issues. 

2. An Attorney Can Manage the Title Search and Address Any Potential Defects

Title is ownership over property. Before closing on a property, it is absolutely crucial that real estate investors/buyers ensure the title is clear of any issues. A Fort Lauderdale real estate attorney can conduct a thorough title search. Along with other things, an attorney will help you uncover liens, find any disputes, or address other problems. If defects are found, your lawyer knows how to address them effectively. An attorney can resolve issues that might prevent you from having full ownership rights. You need to make sure that these issues are resolved before closing is finalized. 

3. Escrow Funds Must Be Managed—and Dispersed—Properly 

The handling of escrow funds is a critical part of the real estate closing process. Escrow includes the funds that need to be managed with care to ensure they are distributed correctly. A top-tier Fort Lauderdale real estate attorney can oversee the escrow to make sure all financial transactions are handled properly. Along with other things, your lawyer will ensure that money is released at the right time and that all conditions are met. Your attorney can provide oversight that prevents disputes and protects the value of your investment. Proper management of escrow funds is a must. 

4. An Attorney Will Mitigate Risks that Come With the Transaction

Real estate transactions come with various risks, such as hidden costs or legal issues. A Fort Lauderdale, FL, real estate attorney can identify and mitigate these risks before they become problems. Your lawyer will review all documents, check for compliance with state law, and advise you on your potential concerns. By addressing risks proactively, a lawyer can help prevent costly mistakes. 

5. An Attorney Will Ensure That All Closing Documents are Accurate and Complete

A Fort Lauderdale real estate closing attorney can review all the closing documents to make sure they are accurate and complete. Remember, mistakes in these papers can lead to legal issues or financial losses later on. A lawyer knows what to look for and can catch errors that others might miss. They will confirm that all of the paperwork is in the proper working order. 

6. A Lawyer Can Proactively Address Any Problems that Arise Before or During Closing

Here is one of the goals of closing: Identify and resolve problems before they arise. Unfortunately, unexpected issues can arise before or during the closing of a property. Whether it is a dispute over terms or last-minute changes, a Fort Lauderdale real estate lawyer can handle these problems promptly. Your attorney has the skills to negotiate solutions and keep the transaction on track. By proactively and promptly addressing challenges, your attorney prevents delays and additional costs. 

The Law Offices of Odelia Goldberg Handles Real Estate Closings the Right Away

A real estate closing is an important transaction. Your lawyer will make sure that your legal rights and your financial interests are protected through each and every step of the closing process. At The Law Offices of Odelia Goldberg, we have deep experience with real estate closing. Whether you are preparing to close on residential property or commercial property, our Fort Lauderdale real estate attorney can help. We provide personalized legal guidance and support to real estate buyers. 

Contact Our Fort Lauderdale Real Estate Closing Attorney Today

At The Law Offices of Odelia Goldberg, our Florida real estate lawyer has the skills and experience to protect your investment through the closing process. If you have any questions, we are here as a reliable resource. Contact us today for a fully confidential, no-obligation initial consultation. From our Fort Lauderdale office, we handle real estate closings throughout Southeast Florida, including Broward County, Martin County, Palm Beach County, and Miami-Dade County.