Title Companies and Attorneys

Orlando Title companies and Attorneys

In Florida, unlike many other countries and even other states, the need for a real estate attorney in a residential transaction in Florida is minimal. This is because most transactions are handled in Florida by Title companies who act as the intermediary between the buyer and seller and who are responsible for carrying out the necessary due diligence and ensuring that the ownership of the land and property is transferred from the seller to the buyer in compliance with Florida law.

 

Which shall I use?

In Florida, real estate attorneys and law firms can perform the same services as title companies. Title companies and real estate lawyers compete against each other, and as a result are similarly priced. However, there are many more title companies which is why most closings are performed by title companies.

 

Note: Just because a attorney may be doing title work, it does not necessarily mean that their law firm will actually be serving as legal counsel for either party, although representation can often be extended to the party who chose the attorney. Title companies on the other hand are impartial.

 

Both the title company or attorney will holds all funds relevant to the sale including: the deposit, any transferable documentation and payment in its own escrow account and are responsible for funding the transaction and disbursement of final monies. They register the final deed information with the county and notify all parties that the sale has been concluded to the terms of the contract and supplies the buyers and the sellers with final paperwork.

There are certain circumstances, involving more complicated real estate transactions, where having an attorney involved may be beneficial.

Should you require the services of a real estate attorney we can introduce you to Steiner & Steiner who are based in Altamonte Springs and who have overseen more than 25,000 real estate closings.

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