Owning a home has always been part of the American dream. Getting the right property for yourself and your whole family is one of the most essential things in life. But like any other investments, buying a home requires basic knowledge of the real estate laws and legal issues. There are lots of things that can go wrong when making misinformed decision. Legal issues such as assessments, taxes, potential title problems, disclosures, zoning and other legal matters all require your full attention.
Different states of course, have different laws and common practices when it comes to real estate. If you’re planning to buy a home in Florida, then here are the most important things you should know.
You Don’t Need a Lawyer
Unlike in other states in the U.S., you don’t actually need a lawyer to purchase a home and close out the deal with your seller. As said earlier, realtors can represent both the buyer and the seller, unless there is an established agency included in the transaction. This is the state’s way of helping people speed up the home buying process and protect the interest of both the buyer and the seller.
Most real estate transactions in this state are closed with title agents involved. Also, many title companies have in-house real estate attorneys and personnel needed for consultations.
All You Need is a Realtor
The best way to start your search for a home to buy is to contact a realtor. Real estate agents help home buyers find the right home and deal with the complexities of the procedure. A real estate agent can make your searching a whole lot easier, as they have better knowledge of the community and the real estate market in your preferred area; he can match real estate properties with your needs and budget; keep you away from unsound homes and deals, do all the paperwork, prepare a viable offer for you, manage deadlines and of course, negotiate and close out deals.
Also, in Florida, you realtor is your transaction broker. He doesn’t only facilitate the transaction; he can also represent you (the buyer) and the seller. The good thing about Florida realtors is that, they are known to work ethically and fairly for both parties. They disclose all the information that materially affects the value of the property. Plus, they are licensed to do a lot of things, such as being a transaction broker (unless there are specific arrangements made, such as single agency for the buyer or the seller, or non-representation.
How to Find a Legit Realtor
Real estate is a goldmine industry, thus, there are opportunistic and dishonest people. Last thing you want is deal with fake realtors and invest all your hard-earned money to bogus properties. The best way to find a legit and licensed real estate agent in your area is through online. Visit the official website of The National Association of Realtors or the city’s Chamber of Commerce. Established companies and business professionals also know some reputable agents as well. Of course, you should look for a full-time real estate agent with a diverse marketing plan and good track record.