Title Company vs. Law Firm
ONLY AN ATTORNEY CAN REPRESENT YOU AND YOUR INTERESTS IN A REAL ESTATE TRANSACTION
A title company CANNOT provide you with legal representation.
Call the attorneys at Neill, Marquis, Osking & Hale, PLLC, at (772) 464-8200 today for assistance with your real estate transaction!
What is a Title Company?
Most people may not know this, but the term “title company” simply means that that business is engaged in the business of closing real estate transactions and issues title insurance policies through one of the authorized title insurers in the State of Florida. A title company does not and CANNOT provide legal advice or representation to anyone.
What is a Law Firm’s Role in a Real Estate Closing?
While a law firm (and its attorneys) do provide legal advice to clients who are buying and selling real property, a law firm can provide the same closing and title service roles and functions as a “title company” (and usually for the same or similar rates and costs). They also provide all of the other services associated with closing transaction (provide clear title, coordinate the closing, provide escrow services, coordinate with lenders, etc.).
What is the Benefit of Having a Law Firm Handle My Closing?
Why not use a law firm? When you utilize the services of a law firm, specifically the attorneys here at Neill, Marquis, Osking & Hale, PLLC, you simply get more: the person who is responsible for handling the closing and issuing the title insurance policy is a licensed Florida Attorney who has passed the Florida Bar Exam and has gone through law school (and obtained a Juris Doctorate Degree), a process which takes years of special training and knowledge. Additionally, law firms and attorneys are held to a high standard of ethics and competency, meaning that attorneys have to take extra care in providing the closing services and with your money.
Also, during the standard closing process, a title commitment is issued. The commitment is an agreement between a title insurance company and the buyer which provides the items that must be satisfied before the title insurance company will insure the title to the property. But, the title commitment also includes a list (sometimes quite lengthy) of certain title issues that it will not provide coverage for (these are called exceptions). A title company cannot provide you with any legal advise and cannot advise you as to the scope or effect of any of those title exceptions.
Only a licensed attorney can represent your interests in court.
When to Get a Law Firm Involved.
We highly recommend that you seek the services of a law firm right at the beginning of the transaction (at the offer and acceptance phase). If you are represented by a realtor it is a good idea to tell them that you want your closing to be handled by a law firm and not a title company. If you already have your own attorney or have found an attorney and law firm that you would prefer to use, tell you realtor that up front as well. The Realtor may be able to add those provisions into the real estate contract and help avoid confusion later on.
Even if your transaction is already underway a law firm can take over for a title company and complete the task.
Have you heard the phrase “go to a title company for title work”?
Unfortunately some people believe that you have to go to a title company for your title related needs (deeds, mortgages, escrow services, closings, etc.). But, that statement is simply not true. At Neill, Marquis, Osking & Hale, PLLC, we strongly believe that title work should be considered legal work and all legal work should be done by attorneys. After all, real estate is usually a person’s most valuable asset and must be protected. Especially if you own property with multiple people (married couples, business partners, multiple investors, etc.), the way you take title can have long lasting implications (or can help avoid costly legal proceedings down the road). Only an attorney can provide you with this advise.
Our Attorneys are Ready, Willing, and Able to Handle Your Real Estate Transaction.
Whether you just need someone to perform the minimum role of closing your real estate transaction or if you are in need of personal representation through out the closing process, our attorneys are experienced and here for you.
Our attorneys are experienced at handling all types of transaction, including: commercial real estate transactions, residential real estate transactions, ang agricultural real estate transactions. We regularly close deals in Fort Pierce, Port St. Lucie, Vero Beach, St. Lucie County, Indian River County, and throughout the State of Florida.
Call to Speak With One of Our Attorneys
To speak with an experienced real estate lawyer about your needs, call Neill, Marquis, Osking & Hale, PLLC at (772) 464-8200.
