Representation for Real Estate Buyers in Vero Beach
Lulich & Attorneys is an attorney-led title company that provides representation for real estate buyers in Vero Beach, Florida. We can help you with the legalities of buying a home, investing in property to build a home, purchasing property for an investment, or managing other real estate transactions. We guide you through this process with or without help from a real estate broker or agent.
You can discuss your needs and learn more about our services by speaking with a real estate lawyer today. We can speak with you to learn more about your goals, needs, and how we can help. The call comes with no obligation and can help you gain clarity about your next best steps as a real estate buyer.
Our Real Estate Lawyers Help You to Evaluate the Price for a Vero Beach Property
Nobody wants to pay an inflated price for a new home or property. Our attorneys can help buyers determine the fair market value of a home.
Essential considerations include:
- Understanding the condition of the home
- The necessary upgrades to meet building codes
- The renovations you may want to make to update the house or property
Sellers must disclose any significant issues with the home, but our lawyers typically recommend that our client walk through the home with a certified home inspector before closing. We can write this clause into our contracts and help our clients arrange the inspection.
What to Expect During a Vero Beach Home Inspection
When a certified home inspector walks through a home, they work to identify any concerns related to the building and property.
They should check all aspects of the home, including:
- The foundation
- The roof
- Structural integrity
- Electrical systems
- Heat and air conditioning
- Crawl spaces or basements
- Windows and doors
- Pools and pool pumps
- Outdoor areas
- Driveway and sidewalks
The home inspector will note any issues and compile a report for the current homeowner and prospective buyer. This often highlights relatively minor problems such as dripping faucets or cracked concrete.
However, it could also uncover more significant structural or safety issues, such as:
- Water damage
- Structural damage
- Lead contamination
Concerns like pool pumps, aging roofs, or older HVAC systems may prove expensive to repair. You will want to understand the necessary investments before you agree to pay for the home.
What If the Home Inspection Uncovers Serious Concerns?
If the home inspector discovers significant concerns, you could explore repair options. This does not always mark the end of real estate litigation. Many buyers and sellers come to agreements on how to handle safety issues and other significant concerns.
Some agreements include:
- The seller repairs the concerns before closing
- The seller pays for repairs as a part of the deal
- The buyer pays less for the home because of the problems, known as an as-is sale
Our team can help buyers and sellers negotiate about your next steps and what you would like to do in response to the issues. For example, some people may want to cancel the sale, which may prove an option depending on the agreement and where you stand in the transaction. We can protect your rights and fight for your financial interests during this process.
Our Real Estate Lawyers Help You Structure the Vero Beach Sales Contract
We believe buyers should understand everything they sign, especially when it is as important as the sales contract for a home. Most people do not deal with spending this much money more than once or twice in their lives. Therefore, you need to know what you will do, why, and your obligations.
Therefore, we answer your questions and work with our clients to ensure they know what every line of their contract means. We go line-by-line and explain each party’s obligations, including financial costs. This will include information about when you must receive mortgage approval, how much you will pay, and much more. These agreements contain information about the sales price and include numerous clauses related to each party’s duties.
The clauses in these agreements vary based on the buyer and seller's unique circumstances. Some are standard, while others are more unusual. For example, we almost always request a clause allowing for a home inspection before closing, but not every sale needs a clause allowing an extended time for moving out before closing.
Some clauses you may have in your contract include:
- Allowing the seller to accept higher offers if you have a contingency offer.
- What happens if the home inspection uncovers serious concerns
- The homeowner can cancel the sale if you do not have an approved mortgage within a set period.
- You can cancel the sale if you discover undisclosed claims or other concerns.
Depending on your needs, we negotiate additional clauses in your agreement to protect your rights and ensure the deal allows you the most flexibility possible if anything changes between the agreement date and closing. By requiring the seller to invest in title insurance equal to the home's purchase price, we can protect you after the closing.
We Represent Real Estate Buyers During the Mortgage Approval Process
Our attorneys walk with our clients through their mortgage process. A buyer will gather the necessary information and paperwork and get all documents to the right parties. We offer advice and guidance, giving our clients the best opportunity for approval and full funding for their investment.
We understand how mortgages work and which banks are more likely to work with buyers who need a little extra help. Whether your Vero Beach mortgage concern involves getting the absolute lowest interest rate available, getting approved for a certain amount, or getting a mortgage approved before you pay off your current one, we can help.
Our real estate lawyers generally recommend that buyers receive a pre-approval for a mortgage. However, mortgage approval in Florida can prove a complex process. You need to know how much money your home could cost, choose a lender, and go through the initial screening to get approved.
We can help you with this by offering guidance to achieve the following:
- Gathering data about home prices in Vero Beach and nearby areas
- Determining how large of a loan you may require
- Explaining the mortgage approval process
If the lender does not pre-approve you for a mortgage or you receive a denial later in a Vero Beach real estate transaction, our team could help. We might uncover the factors preventing you from getting the mortgage and work with you to fix them. You could get a mortgage if you initially receive a denial or do not get pre-approved.
Our attorneys can include specific real estate purchase contract clauses that address your mortgage approval. For example, we could allow a certain period for you to get a mortgage approval while protecting your option to purchase the property. This could include language that allows the seller to cancel the sale if you do not secure funding within a set time.
Our Lawyers Handle Real Estate Closing for Our Vero Beach Clients
Our Vero Beach real estate attorneys help buyers close on their new property, navigating the entire transaction on their behalf. We know how this process works and how to ensure it goes smoothly. We act as the title company and an advocate for our clients throughout the transaction. In addition, we work with the bank, mortgage company, and other parties to get everything in order.
If you are selling your home in addition to purchasing a new one, we know how to time the purchase and sale to work out in your best interests. This often proves challenging, but our team knows how to make it work. We also explain how this affects your mortgage and what steps you need to take following the sale of your home to get everything in line for your purchase.
As a part of closing on your new property, our attorney can review the Vero Beach real estate settlement sheet with you. We can go over each line item individually. We want to ensure you know what you paid, your obligations, and other deal details.
This document includes:
- The agreed-on sales price of the property
- Any credits or debits negotiated
- Any money paid for repairs
- Property tax to date and outstanding taxes
- The title insurance premium
- Fees for any real estate agent
- Recording Fees and Transfer Tax
- Other expenses
Acting as the title company, our real estate lawyers manage the filing of the mortgage and deed. We must ensure proper paperwork processing to protect your rights as a new property owner. In Vero Beach, we record this paperwork with the Indian River County Clerk at the county courthouse. This marks the last step in the real estate transaction.
Why Homebuyers Need Title Insurance in Vero Beach
Title insurance provides legal and financial protection for buyers who run into concerns with a clear title after their closing. In many cases, sellers offer title insurance as added protection for buyers in a real estate transaction. They usually provide enough to cover the expected purchase price of the property.
Our Vero Beach attorneys recommend title insurance for all buyers. We can explain this insurance in depth and how it could benefit you based on the circumstances. For example, in some cases, you may need more title insurance than the property’s sale price.
This often occurs when you purchase property to build a new home. While the property’s sale price would reimburse you for that expense if something goes wrong, you could not recover the costs you paid for the construction of the house.
Situations that require you to file a claim based on title insurance include:
- Outside liens or claims on the property
- Improper or inaccurate descriptions of the property
- Forged or otherwise improper deeds
- Deeds with serious clerical errors
- Misrepresentation by prior owners as to their age, marital status, or other heirs
- Improperly probated estates
- A deed signed by someone with a cognitive disability, such as dementia
- Other real estate concerns that prevent a clear title
As a title company, our firm acts to ensure we issue a clear title in every transaction we handle. However, unforeseen and undisclosed concerns can arise after a real estate transaction closes in Vero Beach. This is when you need title insurance.
If you purchased title insurance from another company or the property seller provided a policy, we can review it with you. We explain this coverage regularly and can ensure you have the necessary policy to protect your investment. In addition, we can assess any concerns related to title insurance and help you understand your next steps during a problem.
Learn About Legal Representation for Real Estate Buyers in Vero Beach, FL
The lawyers from Lulich & Attorneys help buyers with their real estate transactions in Vero Beach and other nearby areas. We provide title services, offer title insurance, and walk through every step of the transaction with our clients. In addition, we can provide guidance, advice, and advocacy about real estate law and common issues related to buying a home. Let us review your circumstances and needs today.