Real Estate Myths

Real Estate Myths #1 A Florida real estate attorney is more expensive than a title company.

Wrong!  The promulgated rate for the title insurance premium is the same everywhere in Florida. The closing fee for conducting the closing is usually less than $100 difference between a title company and our office.  We examine titles in house which saves you money.  We do not markup our abstracting costs, while most title companies charge $250 and up for their outsourced title work.  Since our overhead costs are shared by all of our departments including our closing, probate, wills, trusts, and real estate law departments, we pass on  those savings to our clients.  Thus, in  most cases our total charges are less than those charged by a title company with the added benefit of the protection only an attorney can provide.  Don’t believe it? Contact our office for a free written quote.  We quote all fees and expenses, in writing, and stick to it. Guaranteed!

Real Estate Myths #2 An attorney charges an attorney fee in addition to the title charges.

When our office handles the title insurance side of a routine real estate transaction, we never charge an additional attorney fee. Granted, some transactions are not routine and require additional services that only an attorney can perform. For real estate myths example, sometimes the title has to be cleared through probate; or perhaps a tenant has to be evicted before you can close. Maybe there are complicated short sale, foreclosure, or bankruptcy issues. In those special cases, you might have an additional attorney’s fee, but only after the fee has been quoted to you or your agent, in writing. We quote all fees and expenses, in writing, and stick to it. Guaranteed!

Real Estate Myths #3 In Florida, you don’t need an attorney for a real estate closing. The title company handles everything.

A non-attorney title company is prohibited by law from giving you legal advice.  In a circumstance where your counter party is trying to get out of the contract, you don’t know how to take title, or you don’t know the income and estate tax consequences of your transaction, a non-attorney title company can’t help you. This is truly one among Real Estate Myths. You will need an attorney, and that will cost you extra if you start with a title company. Why not have a Florida real estate law specialist handle the whole transaction from the beginning? You’ll probably save money in the long run (see real estate myths 1 and 2 above) and you’ll get the legal advice and protection a title company cannot, by law, give you. And remember, we quote all fees and expenses, in writing, and stick to it. Guaranteed!

Real Estate Myths #4 My mortgage company told me I have to use their attorney or title company.

Dead wrong! In fact, under Federal Regulations mandated by Congress under the Real Estate Settlement Procedures Act, you have an absolute right to select your own settlement agent. Do you think the bank’s attorney or title company is going to be protecting you or THEIR client? Don’t you think it’s possible you might be paying higher title charges and/or fees when there is no one to quote you a competitive rate? Don’t you think it’s possible you might not be getting the best service when the bank’s attorney or title company doesn’t have to compete for your business? Congress thought so, too; which is why you have the absolute right to select your own settlement agent. Call us for a free analysis of your particular situation. And remember, we quote all fees and expenses, in writing, and stick to it. Guaranteed!

Real Estate Myths #5 Every Florida title company is either owned or operated by an attorney.

Surprise! There is no law or requirement that a Florida title company must be owned or operated by an attorney. Some Florida title companies are owned and operated by a Florida licensed title insurance agent, and that person does not need to be an attorney. The education requirements to become a Florida licensed title insurance agent can be satisfied by attending a 40 hour classroom course in title insurance. Our office is owned and operated by a Florida Bar board certified real estate attorney with 32 years of “on the job experience,” placing the interests of the client first. We offer traditional title company services, specialized real estate law advice and unquestioned loyalty to only you for the same or less cost than a title company. And remember, we quote all fees and expenses, in writing, and stick to it. Guaranteed!

Real Estate Myths #6 A title company that is owned or operated by an attorney or has an attorney on the payroll provides me with the best of both worlds, title company services with the attorney making sure I’m protected.

If both the buyer and seller believe this, at least one of them is wrong! More likely, both are wrong. A title company represents the title underwriter, not the buyer or seller. The attorney-owner or attorney on the payroll works for the title company, not the seller or buyer. If the attorney assures one side that one side is represented, then by operating as a title company the attorney is deceiving the other side by leading the other party to believe the title company is an unbiased neutral escrow agent. We are here to solve this myth. At our office, we represent one party, never both, and make no bones about it. Our clients are provided the best of both worlds, title company services at title company prices with the added protection of their own attorney, without deceiving the other side. And remember, we quote all fees and expenses, in writing, and stick to it. Guaranteed!