Category: Real Estate Closings

When a seller is reviewing and signing their deed at closing, I am often asked some variation of the following questions: “What is this $10.00 in the deed?”“Do I have to pay $10.00 extra?”“Am I buying a house for $10.00?” The answer to the questions is no and I usually proceed to explain consideration and…

A non-lawyer cannot prepare deeds, affidavits, mortgages, and other legal documents related to a real estate transaction. Doing so could be considered the unauthorized practice of law. However, an exception is made for title companies. If a title company is issuing title insurance, then the title company can conduct the real estate closing and prepare…

When taking title to real property with your spouse as “husband and wife” or “a married couple,” you automatically take title as tenants by the entirety in Florida unless you choose to take title in another way. If the property is owned as tenants by the entirety, this means that when your spouse dies, you…

In Florida, a title company or law firm can close your real estate transaction. Why go with one over the other? It surprises people to learn that the cost of an attorney closing your real estate transaction is often the same as a title company. The best argument for using an attorney over a title…

If there is a hurricane or other natural disaster outside the control of the parties, the first provision of your contract to look at is the “force majeure” provision, which is French for “superior force.” A force majeure provision is a common clause in real estate contracts that refers to unforeseeable circumstances that prevent the…

An estoppel in a real estate transaction is a document that is applicable to closings where the property is part of a condominium, coop, or homeowner’s association. The estoppel is ordered from the association. It asks the association(s) for information that the closing agent uses the answers to complete the settlement statement and close the…

Unfortunately, wire fraud is common in the world of real estate transactions. Criminals pose as title companies, attorneys, lenders, real estate agents, property managers, sellers, buyers, and anyone else involved in real estate transactions. Some of these criminals are sophisticated and are knowledgeable about real estate transactions. Victims are often not experienced with real estate…

The escrow deposit in a real estate transaction is an amount placed in escrow by the buyer as a good faith gesture of the buyer’s desire to purchase a property. It often also serves as the damages to a seller if the buyer breaches the contract. The escrow deposit will sit with the escrow agent…

A crucial part of a real estate transaction is ensuring that clear and marketable title is passing from the seller to the buyer, which involves ordering a title search. The title search searches the public record to review the history of the property to ensure the seller has authority to sell the property and there…