The purchase or sale of your home is one of the most transactions you will make in your adult life. The process of purchasing a home requires attention to a myriad of details, most of which require an extensive knowledge of real estate laws. This makes it advisable to consult with and enlist the services of a knowledgeable Tampa real estate attorney.
The role of a Tampa real estate attorney is particularly important in the following matters:
The Purchase and Sale Agreement:
In order to avoid potential complications, it is best for both the buyer and the seller to secure the services of a Tampa real estate attorney prior to signing a Purchase and Sale Agreement. Each attorney can help make his or her client aware of the legal ramifications of every clause in the Purchase and Sale Agreement.
The title search is accomplished by examining records of the Registry of Deeds and may, in certain situations, extend to review of records with the Registry of Probate for the county in which the property is located. The search is conducted in order to ensure that the owner does have a good, clear record and a marketable title attached to the property. The title search will reveal any encumbrances, easements, restrictions and other matters or conditions affecting the property.
This is the final financial settlement for the property. The seller, the buyer, the Tampa real estate attorney for each side and the attorney for the mortgage holder meet to finalize and execute the closing documents. Paperwork included in closing documents will comprise, but is not limited to:
- The deed.
- Discharges of Mortgages.
- Promissory Note and Mortgage.
- Survey or Mortgage Plot Plan.
- The Truth in Lending Statement.
After the Closing:
After the closing paperwork is executed, the title examination is updated and all paperwork is recorded with the appropriate Registry of Deeds.
The ultimate role of a Tampa real estate attorney is to make sure that his client is informed and protected through the transaction. When choosing a Tampa real estate attorney, keep in mind that many of us specialize in different aspects of legal practice. You need to take the time to make sure that the Tampa real estate attorney you choose is familiar with local Tampa Bay real estate laws and practices.