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Attorney or title company for FL closing?

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Attorney or title company for FL closing?

Old 09-03-2015, 01:53 PM
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Default Attorney or title company for FL closing?

On my last Florida purchase (condo) the title company handled everything. Now I am making an offer on a home in Boynton Beach and I need to know if you guys would recommend a real estate attorney or if title company is good enough to handle the transactions/contract. Things were a bit different in SC than her in FL Thanks. K
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Old 09-03-2015, 02:08 PM
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Seller will want it held in their choice of escrow ...

What I usually do it , make a copy of the check, say you sent it ,,, and by the time they realize it never came then I say I will cut a new check ..

By then I have inspected the home and know whether or not we are moving forward with the purchase
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Old 09-03-2015, 02:31 PM
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Doesn't the realtor typically want earnest money when presenting the contract? Not sure how to change that. It is only 1% until after the inspection than increases to lets say 10%. But the bigger question is attorney needed? Or is title company sufficient to protect us? Don't have a realtor representing us. (Not that I would necessarily trust a realtor )
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Old 09-03-2015, 02:46 PM
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Originally Posted by kennyboy View Post
Doesn't the realtor typically want earnest money when presenting the contract? Not sure how to change that. It is only 1% until after the inspection than increases to lets say 10%. But the bigger question is attorney needed? Or is title company sufficient to protect us? Don't have a realtor representing us. (Not that I would necessarily trust a realtor )
forgot - I also put that deposit will be paid within 3 business days after fully executed contract ...

so you can stall the sellers title agent a bit.. Not saying it always works - but I hate letting other people hold my cash ....

You should hire an attorney to review title and make sure everything goes according to plan - the title company may be working for the seller depending on the contract ...
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Old 09-03-2015, 02:47 PM
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What kind of inspection are you talking about? Home inspection or are you going into contract prior to your own walk through aka accepted offer conditional on inspection like how some rental houses are listed?

Title company should be fine I would think.
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Old 09-03-2015, 02:49 PM
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Originally Posted by crazybeard View Post

Title company should be fine I would think.
Title companies push paper around .... I don't trust them at all.....

Who is going to review the title, survey, lien searches, HOA estoppels, etc etc .....
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Old 09-03-2015, 03:03 PM
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Originally Posted by triplenet View Post
Title companies push paper around .... I don't trust them at all.....

Who is going to review the title, survey, lien searches, HOA estoppels, etc etc .....
This is my thinking also. Just wanted to confirm. Money is not the issue.
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Old 09-03-2015, 03:04 PM
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Originally Posted by triplenet View Post
Title companies push paper around .... I don't trust them at all.....

Who is going to review the title, survey, lien searches, HOA estoppels, etc etc .....
This! Find a real estate attorney who writes his own title policy and represents YOU.

Every screwed up closing that I've witnessed was done by a title company.
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Old 09-03-2015, 03:04 PM
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Originally Posted by triplenet View Post
Title companies push paper around .... I don't trust them at all.....

Who is going to review the title, survey, lien searches, HOA estoppels, etc etc .....
As long as you get a title insurance policy, you're good. Seller will pay for search, policy and closing, unless you choose the settlement agent. Standard for Florida ie; if no settlement agent is designated on the contract, seller pays.

EMD: I do what triplenet does: The offer says EMD will be paid within 3 days of contract. I write a check to my title co. and send a photocopy with the offer. Once we have an executed contract, I cut one made out to the sellers title co. and we're good.

If you want, I can send you a standard florida contract and you can fill in the blanks - pm me.
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Old 09-03-2015, 03:09 PM
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Originally Posted by billinstuart View Post
This! Find a real estate attorney who writes his own title policy and represents YOU.

Every screwed up closing that I've witnessed was done by a title company.
Attorneys might "write" title ins. policies, but they don't UNDERWRITE them. There are 3 or 4 major underwriters that insure title in Florida. As long as you get a good policy with standard exceptions, you're good.

But if you're willing to pay for peace of mind, hire your own guy.
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Old 09-03-2015, 03:12 PM
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All I know is that in every deal I have ever done - commercial, residential, etc - my attorney has had a page of comments on the title policy ...

and if I didn't have an attorney those changes would have not been addressed...

So wing it without an attorney or spend the $$$ for some protection ....
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Old 09-03-2015, 03:49 PM
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Please pm with an attorney you would recommend.
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Old 09-03-2015, 04:52 PM
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Originally Posted by China Rider View Post
Attorneys might "write" title ins. policies, but they don't UNDERWRITE them. There are 3 or 4 major underwriters that insure title in Florida. As long as you get a good policy with standard exceptions, you're good.

But if you're willing to pay for peace of mind, hire your own guy.
It's just a term used. A good dirt attorney will provide a title policy for which he did the search himself. Often, their price is very reasonable because they make money on the title policy.

I.d never do a closing with a real attorney representing me.
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Old 09-04-2015, 07:06 AM
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You could have both, a title company to do the closing and a real estate attorney to make sure everything is correct and you're covered. I doubt if you and the seller would want to use the same attorney.

BTW make sure you have title insurance that covers you not just the lender.
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Old 09-04-2015, 07:08 AM
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Originally Posted by triplenet View Post
Title companies push paper around .... I don't trust them at all.....

Who is going to review the title, survey, lien searches, HOA estoppels, etc etc .....

this is misinformation.....reviewing titles, examining liens, etc etc is work that is done by a title company.....many law offices hate title companies for the simple fact that they do it quicker and cheaper.
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Old 09-04-2015, 07:14 AM
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In my opinion Title Insurance is worthless now days. My buddy sells it and the company he sells it for has been doing so for 30 years. They have never had a claim in those 30 years.
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Old 09-04-2015, 07:41 AM
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Originally Posted by fishingfun View Post
In my opinion Title Insurance is worthless now days. My buddy sells it and the company he sells it for has been doing so for 30 years. They have never had a claim in those 30 years.
then that means he is doing a very good job and is competent.

try getting a mortgage without title insurance.
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Old 09-04-2015, 09:12 AM
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Originally Posted by fishingfun View Post
In my opinion Title Insurance is worthless now days. My buddy sells it and the company he sells it for has been doing so for 30 years. They have never had a claim in those 30 years.
I have been paying for life insurance for 30 years, and have not yet had a claim. Doe that make life insurance worthless?
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Old 09-04-2015, 10:29 AM
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I've used this guy for 7 transactions over the last 20 years buying and selling on my own (no Relator) . He's an attorney and owns the title company. His in Pembroke Pines so a bit out of the way, but you might call him. He's a great guy.

Richard Ziff
Signature Title Services
1961 NW 150th Ave Ste 103,

Pembroke Pines, FL 33028

(954) 239-4545
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Old 09-04-2015, 11:12 AM
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Originally Posted by hamptonsurf View Post
this is misinformation.....reviewing titles, examining liens, etc etc is work that is done by a title company.....many law offices hate title companies for the simple fact that they do it quicker and cheaper.
you are incorrect ....

I cant tell you how many title companies send over title with issues on lien searches, deed restrictions, survey matters, mechanics liens -- they are not in the least interested in making sure the documents are in your favor ...

They will insure around them with exceptions and language that relieves them from liability ....

Next time you buy a property just sign on the dotted line - because the title company reviewed all the issues and made sure there are no imperfections that could negatively effect your ownership of the property ... Me , I will have my attorney review and make comments accordingly...

http://www.nolo.com/legal-encycloped...ying-home.html

Last edited by triplenet; 09-04-2015 at 04:00 PM.
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