I am buying a house on small sale in Florida. There are 5 known liens place on the property, including unpaid taxes for the last year. I have a copy of HUD estimate approved by the seller’s lender. So I know all lien holders. I also can do the last minute search on the Internet right before the closing in order to avoid any surprises.
In this situation, do I need a real estate attorney to make sure all liens are satisfied and I get the property with the marketable title? Or closing title company can handle all this issues?
My real estate agent advises to hire an attorney for the flat fee of ,000. Will it be a waste of money in Florida?
Thank you!
I guess, my question is What value will a real estate attorney add to the small sale process?
I can search public records for new liens right before the close, make sure that they are satisfied at closing, and then check public records if my buy is properly recorded.
Also, what are the legal mechanisms available to protect me from the new liens?
Thank you all for your ANSWERS!
Just closed on this home buy.
We hired an attorney and made the lender pay for it. Strongly recommend getting an attorney for the buyers.
Our attorney not only negotiated the fees but also make a lot of amendments to the documents. Saved us a lot of money. Hope this info is helpful for people dealing with small sales. Thanx All.
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In can’t hurt to hire the attorney, although as long as you are going through an escrow company, you should be covered. Make sure that you choose the extended title policy which will cover you in case a lien suddenly pops up on title. For example a mechanic’s lien that hasn’t been filed yet. (Please check with your local title company to see if that’s accurate, my knowledge base if for CA real estate).