Home Buying in Kissimmee>Question Details

Lorraine Wac…, Home Buyer in Wiltshire England

How much should I allow for lawyers fees, searches etc., when buying a property.

Asked by Lorraine Wackett, Wiltshire England Fri Apr 3, 2009

If I bought a 3 bedroomed condo in Kissimmee, approximately how much should I allow for lawyers, searches etc., Lorraine Wackett Warminster England

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Hi Lorraine,

I thought that you might appreciate a different perspective. I have quite a bit of family in Florida. My parents, brother, and several cousins - mostly East coast - West Palm down to Boca Raton (very nice developments). Over the years they have all known people that have chosen to buy real estate in FL without a lawyer and now regret the decision. I'm not saying that "you will get ripped off" without one. But I would urge caution. Florida is one funny state. Must be all that sun.

Here is a list of real estate lawyers in the Kissimmee area.

http://lawyers.findlaw.com/lawyer/firm/Real-Estate-Law/Kissi…

Please note - I am not saying anything whatsoever about any of the other posters - merely sharing the perspective of my own family that lives in Florida.

I would guess (and it's only a guess) that a real estate lawyer in Florida will run between $700-850 - that's what it costs in NJ so it shouldn't be more than here.
0 votes Thank Flag Link Tue Apr 7, 2009
Lorraine,

My wife and I have sold to British buyers and my question to you is are you buying a Holiday Rental, if so I would suggest you spend a little time with an Account to better understand how is best to set things up.

As stated below a lawyer isn't needed just a good Realtor, Title Company, Home Inspector and if it's a Holiday Rental a good Property Management Company.

If you are going for a foreclosure just remember it takes time and if you need a mortgage I can recommend a good company.

Take time to explore my profile located here on Trulia: http://www.trulia.com/voices/profile/Real_Estate_Pro-Orlando…

Dave Lowe, Broker Two4One of Orlando
GRI – ePRO – GREEN (Designations)

Innovative / Save Money / Great People
Web Reference: http://two4oneoforlando.com
0 votes Thank Flag Link Tue Apr 7, 2009
Lorraine,

As Tony says, a lawyer is not required; however, you are welcome to consult one at your own expense. The searches, etc. will be done by a third party Title Company and all monies will go through them.

Closing costs can vary significantly depending on whether it is a cash or financed purchase.

2-3% of the agreed purchase price is a pretty good rough estimate.

Are you thinking holiday home and/or rental property? I'd be happy to help you sort through the choices and walk you through the process.
0 votes Thank Flag Link Fri Apr 3, 2009
Lorraine:

We do not use lawyers in Florida, it is all done by a Title Company. Closing cost usually range from 1 to 3% of purchase price. But there are factors that affect the money required at closing such as if it is a cash or financing deal. Surveys, Insurance, Lender cost, Escrows.

Have you selected a unit to purchase yet?
Let me know if you would like to see Kissimmee condos, and if there is a specific community you prefer.

Tony.Vega@ColdwellBanker.com
407-791-9086
0 votes Thank Flag Link Fri Apr 3, 2009
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