Summer is a busy time as kids get out of school and families take the opportunity to relocate. Whether the move is local or long distance, buying or selling a home in Florida can have complex legal ramifications.
The Law Offices of Travis R. Walker hope to help familiarize buyers and sellers with the process in Florida.
1. Getting Started
Either a buyer or a seller may choose to work with a licensed real estate broker or agent. Florida does not allow dual agency, that is an agent working on behalf of both buyer and seller. An agent may work as a transaction agent however. A transaction agent only facilitates the transaction and has no fiduciary duties to either party. A buyer or seller may choose to have an agent represent them exclusively as either a seller’s agent or a buyer’s agent. In that case the seller would sign a listing agreement and a buyer would sign an agency agreement. The seller is then generally responsible for paying the agent’s commission when the home sells- typically 5-6% of the sale price.
2. Closing the Deal
When a buyer finds a home they can make an offer. The seller can then counter offer or reject the offer. A purchase agreement, which is a legally binding contract is formed once the seller accepts an offer and notifies the buyer. The time between offer acceptance and signing the documents is called escrow. Escrow is also the time when a title company is chosen. At closing the transaction will be completed. Funds will be exchanged and all final documents will be processed. Closing typically occurs over the course of a single day.
3. Working with a Lawyer
Unlike other states, Florida law does not require an attorney be involved in closing. A buyer or seller may however decide to enlist the aid of one. Here at the Law Offices of Travis R. Walker we can handle all the details of your real estate closing. We have vast experience with closings and land use and real estate work throughout the Treasure Coast.
We can assist with:
- Closing details
- Review of contract
- Lease agreement
- Problems with title
Owners who choose to sell their own home- we can help with the legal paperwork
Contact us today to find out more about us and how we can help you with all of your real estate transaction needs!