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What to Expect at a Real Estate Closing in Florida and Why an Attorney is Needed

Updated: Jul 28, 2023

The real estate closing process is a crucial step in completing a property transaction in Florida. Whether you are buying or selling a property, understanding what to expect at a real estate closing can help ensure a smooth and successful transaction. In this blog post, we will explore the key elements of a real estate closing in Florida and highlight why having an attorney is essential during this process.

  1. The Role of the Closing Agent: In Florida, real estate closings are typically conducted by a closing agent, who can be an attorney or a title company. The closing agent plays a vital role in facilitating the transaction, ensuring that all necessary legal documents are properly executed, and handling the distribution of funds.

  2. Reviewing and Preparing Documents: One of the primary responsibilities of the closing agent is to review and prepare the necessary documents for the closing. These documents may include the sales contract, title commitment, deed, promissory note, mortgage, and various disclosure forms. An attorney at Beckwith Legal can thoroughly review these documents, explain their implications, and ensure that your interests are protected.

  3. Title Search and Title Insurance: As part of the closing process, a title search is conducted to verify the property's ownership history and identify any liens or encumbrances. Title insurance is also typically obtained to protect the buyer and lender against potential title defects. An attorney at Beckwith Legal can assist in reviewing the title search results, addressing any issues that may arise, and ensuring that the title insurance adequately protects your interests.

  4. Loan Documents and Financing: If financing is involved in the transaction, the buyer will need to sign various loan documents provided by the lender. These documents may include the promissory note, mortgage, and other disclosures. An attorney at Beckwith Legal can explain the terms of the loan, review the documents for accuracy, and address any concerns you may have regarding the financing arrangement.

  5. Closing Statement and Funds Disbursement: During the closing, a closing statement, also known as a HUD-1 Settlement Statement or Closing Disclosure, is prepared. This statement outlines the financial details of the transaction, including the purchase price, prorated taxes, and closing costs. An attorney at Beckwith Legal can carefully review the closing statement to ensure accuracy and verify that the funds are properly disbursed to the appropriate parties.

  6. Legal Guidance and Issue Resolution: Real estate transactions can be complex, and unexpected issues may arise during the closing process. Having Beckwith Legal by your side provides invaluable legal guidance and expertise to navigate any challenges that may arise. We can address legal questions, negotiate on your behalf, and ensure that your rights and interests are protected throughout the transaction.

  7. Post-Closing Considerations: After the closing, there are still important post-closing considerations, such as recording the deed, transferring utilities, and updating insurance policies. An attorney at Beckwith Legal can assist with these post-closing tasks, ensuring that all necessary steps are taken to finalize the transaction and protect your legal rights.

A real estate closing in Florida is a significant event in a property transaction, and having an attorney involved is crucial to protect your interests and ensure a successful closing. An attorney can guide you through the process, review and prepare documents, address any legal concerns, and provide the necessary expertise to navigate unexpected issues. When it comes to a real estate closing, having Beckwith Legal by your side provides peace of mind and ensures that your rights and investments are safeguarded.


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