Buying a House? Hire a Real Estate Attorney

There are many benefits of being in the sales and leadership development training business. My favorite benefit is being able to meet outstanding individuals and work with them to be the best they can be in their careers and in life.

I am a big believer in the Power of Habits. I have some good ones and yes, a few bad ones that I am continually working on. One of my healthy habits is the two questions I ask myself before I walk up to someone I've never met. 1. What can I learn from or about this person? And 2. How can I help them get what they need in their career or life? Continuous learning has always been a big part of my life so working with a broad range of clients gives me an incredible opportunity to learn about their industries, their people, and culture as well as their clients or customers.

Last week, with BlackRain Partners, I had the honor of working with sixteen fantastic Business Development Representatives from The Attorney's Title Fund. Their 3,000 plus loyal members simply refer to them as "The Fund." I was able to talk about the five generations active in the economy and our social networking strategies. Leadership trainer and BlackRain Partners founder, Cynthia Blackwell provided great Business Development training. Combined, the team of sixteen Fund Business Development Representatives has close to 300 years experience providing Florida Real Estate Attorneys with incredible services and support. In addition to the membership benefits, The Fund offers their members, title insurance underwriting services.

BlackRain had the pleasure of working with this incredible Business Development Team from The Fund
BlackRain had the pleasure of working with this incredible Business Development Team from The Fund

That got me thinking about my recent home purchase. I wasn't aware that I could have used the services of a real estate attorney instead of the title company the seller's realtor referred. I thought lawyers were expensive, but as it turns out, the costs are comparable to what the title company charged.

So if it costs about the same, what are the benefits? On The Attorney's Real Estate Councils of Florida website, I found a handout that does a good job explaining the benefits of hiring a real estate attorney to help you navigate your next home or commercial purchase. Below is the information from that handout.

REAL ESTATE ATTORNEYS ARE KNOWLEDGEABLE Would you ride in a plane flown by a ballet dancer? Would you undergo surgery performed by an accountant? Of course not! While each of these individuals is highly skilled, they are not trained to guide you through one of the most significant and complicated transactions of your life. Real Estate Attorneys are.

THEY ADVOCATE FOR YOU Attorneys are the only professionals involved in the real estate transaction who represent you and are ethically bound to act in your interest. A real estate attorney will: • Review the contract to ensure your interests are protected • Guide you through the process, so you know what to expect • Explain the legal impact of the various documents you will sign • Provide legal advice on what action you should take

THEY PROTECT YOU In the last decade, hundreds of thousands of uninformed consumers were led into unwise purchases or convinced to take out exotic mortgages, all of which led to Florida’s real estate bust. Don’t let that happen to you. A real estate attorney will: • Explain the terms of your mortgage loan, so you understand everything • Ensure the lender delivers the terms that serve your needs

THEY HELP EDUCATE YOU Some think that buying and selling real estate is simple, but it is not. Real estate title has been described as a bundle of sticks because it’s not one solid thing – like say a car title. With a car, you have a title for the entire car - and typically you can tell when parts are missing! With real estate, you can separate the sticks, and it’s not visible. Sticks can be used by others like the utility company who has power lines across your property or a neighbor who can travel across your land to get to theirs. You want to make sure you’re getting all the sticks – at least the ones you are paying for. A real estate attorney will: • Examine the title to the property • Explain and resolve any issues that are found • Make sure you understand what you are buying or selling • Make sure you understand your obligations as a buyer or a seller • Conduct the closing • Issue title insurance

THEY ARE AFFORDABLE Real estate attorneys are not expensive. Like all real estate settlement agents, attorney or non-attorney, they charge a small flat fee, typically a few hundred dollars, to provide comprehensive support throughout your real estate transaction. Since you will pay for the services of a title company settlement agent, why not make sure it’s a real estate attorney who is looking out for your best interests?

If you live in Florida and are looking for a Real Estate Attorney, here is a good place to start. Outside of Florida, a quick Google search should do the trick. 

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