Real Estate Closings
Residential Real Estate Closings / Title Insurance/ Closing Costs
Sobi Law is part of the Arag Legal Attorney Network, and you could be fully covered for all the services we provide. Simply call us and we will file a claim on your behalf.
Residential Real Estate Closing (Closing on a home)
Some jobs, you can handle yourself, like a minor home remodeling project or inviting friends for a gourmet meal. But there are times when it pays to work with a professional.
If your are considering selling your Florida home, you may think you could do it on your own and save the substantial real estate agent's commission. However, your real estate transaction may not be the best time to test your ability to understand the complexities of a title examination and purchase agreements, sales agreements or refinancing agreements.
A typical Florida real estate transaction requires the preparation of dozens of documents, beginning with a purchase contract, a real estate transfer deed, a certificate of non foreign status for purposes of tax withholding and a closing statement. Transactions are often valued at several hundred thousand dollars or even millions of dollars.
Must I Use A Real Estate Attorney?
A real estate lawyer
is not required in Florida for the preparation of these documents, but you need to ask yourself who is going to review the agreements you will be signing with your best interests and protection in mind?
Sobi Law Group PLLC offers legal real estate and closing services to both buyers and sellers in Florida. Selecting a closing attorney who has the experience, knowledge and legal background to assist you in your purchase and sale is critical when making such a large purchase and major life decision.
Our firm handles residential and commercial closings and refinances ranging from the straightforward to the most complex. Our exceptional customer service, communication and attention to detail set us apart. Our clients are always informed about the progress and status of their closing.
The Professionally Prepared Documents You Need (Closing Documents)
We provide buyers, sellers and agents the confidence that all contracts and title documents have been drafted, examined and reviewed by an attorney experienced with real estate closings. When you are a seller, you need the confidence that comes from having a knowledgeable real estate attorney
looking out for your interests with these substantial transactions.
Any title issues that arise before, during or after closing will be addressed and resolved with the guidance of an experienced title attorney. From our Davie office, we travel throughout Miami-Dade, Palm Beach and Broward Counties to represent buyers or sellers at closings.
Contact Us For A Smooth Closing
Our top priority is to simplify your settlement process and make it a success. Contact us online or call us at 954-380-8778, if you want to have peace of mind that your title is trustworthy and your closing will occur on time.
What is Title Insurance?
Title insurance is a form of indemnity insurance predominantly found in the United States which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans.
Title Insurance protects you against the possible defects in title documents and potential legal challenges to your ownership. When challenges are made or defects are found, title insurance is one of your best forms of protection, a one-time premium protects you not only during the time you own the property, but indefinitely
What are title defects? They include,
- Forgery
- Fraud in connection with execution of documents
- False impersonation by those purporting to be owners of property
- Undisclosed or missing heirs
- Wills not properly probated
- Mistaken interpretation of wills and trusts
- Inadequate surveys
- Incorrect legal descriptions
- Non-delivery of deeds
- Unsatisfied claims not shown on record
- Inaccurately executed and/or recorded deeds
- Incorrect indexing
- Clerical errors in recording legal documents
Types of Title Insurance Policies
- Owners Policy
- Lenders Policy
- Construction Loan Policy
Typical Closing Costs
Real Estate Broker Commission/Fees
Loan Fees – Direct Loan Costs
Loan Origination Fee
Loan Discount
Appraisal Fees
Credit Report Fee
Lender Inspection Fees
Mortgage Insurance Application Fee
Assumption Fee
Mortgage Broker Fee
Yield Spread Premium (YSP)
Items required by the Lender to be paid in advance
Interest
Mortgage Insurance Premium
Hazard Insurance Premium
Flood Insurance
Escrows by Lender that may be required
escrow for taxes
mortgage insurance
hazard and flood insurance
Recording/Government Filing Fees
Recording Fees
Transfer Taxes
Intangible Tax (mortgage tax)
Attorney Fees at Loan Closing if required
Title and Closing Charges (Section 1100)
Title Search
Mortgage loan endorsements if any
Title Examination
Issuance of Title Commitment
Title Insurance Policy
Closing/Settlement/Escrow (Conducting Closes Fees)
Settlement/Closing Fee
Document Preparation
Other, Miscellaneous Charges
Survey Fee
Inspection Fees