5 Reasons to Hire a Real Estate Lawyer to help you buy your next Florida Home!
"Should I hire a Real Estate Lawyer or Real Estate Agent to buy my next home?"......
1. Florida Real Estate Lawyers offer homebuyers invaluable knowledge.
They are knowledgeable in all areas of Florida real estate law, not just the real estate sale transaction. Often times, issues come up for the buyer or seller that requires the assistance of a real estate lawyer. For example a buyer is interested in the newest listing in Orlando, however the property owner’s agent discloses there is a tenant in the on-suite property. This can be both exciting and overwhelming for a potential buyer. While it is great the buyer has potential to make income, the buyer can’t help but wonder what landlord tenant laws apply to the sale of the property.
2. Florida Homebuyers Can Save Money.
The buyer may determine it necessary to hire a real estate lawyer or landlord tenant lawyer at this point, paying an hourly fee that can range from $150-$450 per hour to determine if there investment makes good legal sense. If the buyer had a real estate lawyer assisting with the sale from the beginning, the buyer could potentially save money.
3. Florida Real Estate Lawyers offer expert negotiation skills and flat fees in some cases.
Often times a buyer’s agent does not charge the buyer a fee, since the seller is normally responsible for their commission. Attorneys do not take a commission on the real estate sale, therefore they are often times able to negotiate in ways that other Real Estate Agent’s may not. Homebuyer’s often have the option of paying the attorney a flat fee for the negotiation and drafting of the sales contract, as well as other services the lawyer’s office may offer like deed preparation, title and closing services. A buyer can have a lot of their questions answered under this flat fee, avoiding high hourly rates of other real estate lawyers.
4. Avoids Conflicts of Interest and High Pressure Florida Real Estate Agents.
Another reason homebuyers like to work with a real estate lawyer rather than a real estate agent or broker is to avoid the automatic conflict of interest. It is not a secret that real estate agents earn high commissions for the work they do when assisting a buyer. Their commissions are rightfully earned, however a buyer cannot help but realize there is a built in conflict of interest between the agent and the buyer. Buyers should hire a flat fee real estate lawyer to avoid conflicts like this, as well as to avoid the pressure of dealing with a pushy real estate agent.
5. Florida homebuyers must still do their homework to ensure they are getting the value and real estate expertise desired.
It is important that a homebuyer does their homework on the real estate lawyer as well. Some real estate lawyers only practice real estate law and therefore are not willing to assist in the full real estate buying process. A buyer should consult a real estate lawyer that has experience as a real estate agent, therefore demonstrating familiarity with the surrounding area and home market trends. Not many attorneys practice real estate law and assist in the complete home buying process, but there are some out there that offer more value through the home- buying process. For more information on the home-buying process in Florida or real estate market trends and the newest listings in the Orlando area, click here.