how to handle a real estate closing in Florida
How to Handle a Real Estate Closing in Florida like a Professional: Top 5 Tips
Closing a real estate transaction in Florida may not be as easy as it seems to be. Generally, the closing process is time-demanding and requires a lot of attention to detail.
Hence, every piece of the puzzle must fall into the exact place to ensure a smooth closing. On the other hand, any detail out of place can lead the whole purchasing process to result in an unexpected outcome.
In this article, you will find out the top tips to handle a real estate closing in Florida like a professional.
Home Inspections are Crucial
Once you have found a property that you are interested in, it is essential to carry out a home inspection to verify various aspects of the home. In Florida, any home must pass an inspection carried out by a certified home inspector before it can be sold.
It is crucial to have the home inspected well before the closing, as waiting until the last minute to proceed with it may affect the whole process negatively.
During the home inspection, a certified inspector will look at several aspects of the home, such as the building foundation, structural components, roofing, plumbing, etc. After examining the home in detail, the inspector will provide a written report with the results.
A valuable tip is that you should worry more about the severity of the issues rather than the number of issues. For instance, a home with 10 minor issues will not be affected nearly as much as a home with two severe leaks.
Also, remember that the more details an inspector can access, the more in-depth the final report will be.
Organize All the Necessary Paperwork
Reuniting and organizing all the paperwork for the closing is a primary factor to ensure a successful real estate closing in Florida. In this sense, you need to make sure that the seller has disclosed all the necessary information before accepting his/her offer.
Typically, a seller has a period of 7 days after acceptance to provide the buyer with the necessary disclosures. For this reason, the guidance of an expert title and escrow company is essential to walk you through all the necessary documents.
An expert title company such as Marina Title will provide the legal experts necessary to review the documentation and ensure everything is in place before the closing.
Proceed with a Title Search
Before closing a home in Florida, it is utterly necessary to undergo a title search, which is an examination of public records to confirm the property’s legal ownership and reveal other claims or liens attached to the property.
A title search is crucial for various reasons. Sometimes, a property owner might not even be aware of an issue against his/her property’s title.
In other situations, things like unpaid taxes, HOA-related fees, and home improvement bills can come back to haunt you if you decide to skip a title search.
Purchase Title Insurance
After the title search is concluded, it is crucial to purchase title insurance as a preventive tool against undetected defects in the title.
Sometimes, after the closing of a home, a title may reveal unforeseen problems, including forged documents, fraudulent sellers, improperly filed documents or even undisclosed heirs to the property.
In such cases, a title insurance policy will help the buyer fix issues revealed after the purchase of the property.
It is worth noticing that there are cases in which a title insurance policy will not cover financial losses, such as environmental protection laws, post-policy claims, disputes involving boundary lines, and zoning issues.
Work with a Reliable Title and Escrow Company in Florida
Even though the parties involved in real estate transactions are allowed to work themselves throughout the process, there is no better approach than working with a reliable title and escrow company in Florida.
An expert title company will take care of all essential details by providing strategies to optimize the process and guaranteeing everything will be in place at the closing.
Plus, it will facilitate the closing by getting all the services done under a single roof. Within a streamlined strategy and the combined effort of several title experts, a reliable title company will ensure you a successful closing.
Do You Want to Close a Real Estate Transaction in Florida Like a Professional? – Get Expert Help at Marina Title
At Marina Title, we have a team of seasoned title experts to take care of all details involved in the closing of your property in Florida. Waste no more time with uncertainty.
Contact us by calling us at (305) 901-5628 or sending us an email at [email protected] and get help now.
