Home Buying in 33134>Question Details

Princewillia…, Home Buyer in 33134

I'm a buyer and The short sale seller choose the title company. do I need to have a lawyer with me at settlement?

Asked by Princewilliams, 33134 Fri Sep 9, 2011

Help the community by answering this question:


I would recommend to have a real estate attorney review the file before closing to avoid any mistakes that would cost you in the long run headaches and more money.
Good luck, Oliver.
2 votes Thank Flag Link Wed Sep 21, 2011
It's always wise to hire a lawyer particularly for distressed sales/purchases
0 votes Thank Flag Link Thu Oct 3, 2013
I would recommend you have title office or attorney review all documents for you.
These shortsales can be very involved and you must be sure you are getting clear title. Our office Working Title LLC in Coral Gables Florida is very experienced in the entire shortsale process and we always recommend to our buyers that they have a qualified person review all closing documents. Please feel free to contact us with any questions 461 9682 cookie@workingtitlellc.com
0 votes Thank Flag Link Fri Sep 13, 2013
Although, it is not necessary, I recommend that you do. Anytime one does not completely understand or is unsure of a legal matter, one should be represented by an attorney. The benefits usually out perform the cost.
0 votes Thank Flag Link Wed Jun 5, 2013
Here in the New York Metro region Buyers and Sellers both use attorneys on every transaction. I know this is not common in most other areas of the United States, but, IMHO, that's just absurd. I have always recommended clients outside the New York area engage an attorney to represent and protect them, no matter the common custom in their area.

Next, it is actually a violation of Federal Regulations for the Seller to demand that you use their title company.

Get yourself an experienced real estate attorney---usually on referral from friends or family works best---and you'll be well protected.

Hope that helps!
Trevor (tcurranmortgage)
0 votes Thank Flag Link Tue Sep 20, 2011
You do not necessarily need a lawyer if your real estate agent knows what he or she is doing. As long as they have short sales experience, you will be fine.

These guys run a network of short sale specialists and offer free short sale help and advice, you may want to check with them: http://www.shortsalespeople.com
0 votes Thank Flag Link Tue Sep 13, 2011
It would be in your best interest to have a lawyer review the transaction for you. Short sales involve many details not usually found in regular sales transactions. You would definitely want to ensure that you will not be responsible for any liabilities of the seller after closing, especially if you are purchasing a condo. Good luck with your purchase. Please feel free to contact me with any needs you may have.
Jose I. Gonzalez PA
Xcellence Realty
0 votes Thank Flag Link Sat Sep 10, 2011
I am not sure where you are in the buying process however there are (3) main areas of concern when buying a short sale, which can also be applied to most real estate purchases.
1) Writing up contract: understanding all contingencies, including inspections, financing, deposits and short sale approval by lender, along with the time frame and dates for each.
2) Delivering Clear Title: Understanding how to examine a title search and/or abstract of title.
3) Understanding a Settlement Statement (HUD): make sure all pro-rations are correct and assigned to the right party, and watch out for any unnecessary fees.

Unless you can, 100%, confidently navigate through them then the answer is yes, you should seek legal assistance.

Best of luck!

Jose Laya
0 votes Thank Flag Link Fri Sep 9, 2011
You should be represented by a "real estate" attorney who will look out for your interests. This is especially true for a short sale.
0 votes Thank Flag Link Fri Sep 9, 2011
The simple fact that it is on your mind means that " it's on your mind" ! The title company's function is to transfer property. Therefore, you may want to consider hiring legal representation through a real estate attorney familair with short sale transactions.
Web Reference: http://www.mycasitas.com
0 votes Thank Flag Link Fri Sep 9, 2011
Not in Florida. Our Title companies duties are to transfer the property. They follow the guidelines of the contract. Since you have an approval, you also have a negotiater on the file.

Debbie Albert, PA
Kelller Williams Treasure Coast
0 votes Thank Flag Link Fri Sep 9, 2011

The greater your expertise, the lesser the risk should be. The truth of the matter is that "short sales" can involve a wide range of challenges which can increase the possibility for problems. We would not consider a short sale without the expertise of an attorney to review, oversee, and guide you through the process.

It may not be necessary to have an attorney present at the closing because the title company can certainly manage that but from the standpoint of looking out for your best interests, one should be included sooner than later.

Good luck,

0 votes Thank Flag Link Fri Sep 9, 2011
I should have said, you need a lawyer NOW, before you make offer!
0 votes Thank Flag Link Fri Sep 9, 2011

Since this is a short sale I stronly recommend you have a lawyer representing your interests.
0 votes Thank Flag Link Fri Sep 9, 2011
In a short sale you need a lawyer.

0 votes Thank Flag Link Fri Sep 9, 2011
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