Buying a new home in TV

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Old 03-01-2020, 08:42 AM
willbush willbush is offline
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Originally Posted by LouGraf View Post
I was told that it is not necessary to hire a real estate lawyer to represent me at closing on a new home. Is this common practice? It does not sound right to me.
Have purchase and sold many homes;sold last 4 myself and help lady in a villa behind us sell her's(only took 2 weeks);a title company handles everything according to the real estate laws in that state
Old 03-01-2020, 09:20 AM
justjim justjim is offline
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Originally Posted by LouGraf View Post
I was told that it is not necessary to hire a real estate lawyer to represent me at closing on a new home. Is this common practice? It does not sound right to me.
OP, trust me when I say hiring a lawyer would be a waste of your money. But if it makes you feel better it’s your right and your money.
Most people are as happy as they make up their mind to be. Abraham Lincoln
Old 03-01-2020, 09:55 AM
OrangeBlossomBaby OrangeBlossomBaby is offline
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If you are getting a mortgage then it's probably in your best interests to have a lawyer anyway. But no it's not required. In Connecticut it is, which is why you don't see 10-day closings in Connecticut. Lawyers are notorious for being too busy to schedule closings that soon; minimum 30 days, average 45 days.
Old 03-01-2020, 10:15 AM
Ramone Ramone is offline
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Thumbs up Title Companies

Originally Posted by LouGraf View Post
I was told that it is not necessary to hire a real estate lawyer to represent me at closing on a new home. Is this common practice? It does not sound right to me.
We found that Title Companies do a good job at closing, and most have or are owned by attorneys to watch over the processes.
Old 03-01-2020, 10:23 AM
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manaboutown manaboutown is offline
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Using title/escrow companies I had bought and sold properties in DC and VA prior to moving to a city in upstate NY. There, as a newly minted member of the NY bar, I bought my first house acting as my own attorney. We settled at a table in the courthouse. The seller's attorney led me through the process which centered around obtaining clear title. Title/escrow companies perform this function in most states and of course employ in-house attorneys to supervise as well as handle particularly nettlesome title issues which can and do arise in situations like large land sales, such as from a farmer to a developer. In buying a new home in TV one probably need not worry much about clear title although purchasing an owner's title policy is usually advisable. Many if not most folks can read and understand the plethora of documents that need to be executed at a closing if given time to carefully go through them. Of course a real estate attorney can help explain some of the more technical issues. Now all that being said, buying a new home in TV is like signing a software license. It is a take it or leave it deal. No provisions will be changed.
"No one is more hated than he who speaks the truth." Plato

“To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine
Old 03-01-2020, 10:28 AM
mrrentman mrrentman is offline
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Originally Posted by punkpup View Post
Both seller and buyer must be represented by lawyers in Massachusetts at closings but not when we closed on our home in The Villages. What a relief!
Don't know who told you that punkpup (probably a lawyer), but I have closed on dozens of properties in MA without being represented by a lawyer.
Old 03-01-2020, 10:42 AM
dmarti1973 dmarti1973 is offline
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Your choice ultimately, but a waste of money from my perspective.
Old 03-01-2020, 10:43 AM
CoachKandSportsguy CoachKandSportsguy is offline
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CoachK and I, sportsguy, closed on a custom designed new construction last May. Did not need a lawyer at closing, however, we did have a FL lawyer review the contract, and her comment was: "They do things a bit differently in the Villages, but nothing wrong or illegal." Close to a standard new home closing in FL. spent $250 on the legal review
Old 03-01-2020, 10:44 AM
msilagy msilagy is offline
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In Illinois both buyers and sellers use attorneys. There is a 5 day attorney approval and inspection period before contract is valid. I have had attorneys make changes in my contract that were inserted by the realtor in my best interest. In Fl there is no such thing. When you sign that contract it's valid. My last transaction was my buying a villa in TV (my 2nd house) and because I had bought before I went thru the paperwork really quickly initially all the indicated areas. I was in Chicago at the time. Come to find out when the villages called me that there was a special assessment every month for an HOA that I wasn't aware of as this area had a pool that was maintained by the residents of those villas and not maintained by the villages. Because there was no dollar amount specified I did not catch the line that said special assessment and was locked into a contract with an extra $55 month HOA fee! An attorney if I had used one would have caught this but of course it would have to have been prior to my signing the contract in Fl. I was stuck and steaming mad!
Old 03-01-2020, 10:54 AM
skyking skyking is offline
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I have purchased six homes in three states and never had a lawyer at the closing. Usually you have the closing documents before the actual closing and can decide if you need a legal opinion. I did want to have a inspection and radon test of the new home in The Villages. I was told no so I said OK thank you and got up to leave. The Villages salesperson got the manager to take the home off the market for four days so that I could do my due dilligence.
Old 03-01-2020, 11:45 AM
TCRSO TCRSO is offline
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By way of disclosures, I am a lawyer licensed in Florida and have issued numerous title policies. Some things you may not know about title policies:

1. Check the date of the title search (which may be a date earlier than the date of issue). if so you will need to request "gap" coverage (covers you from the date of the search to the date of the policy issuance).

2. If you are buying a resell, make sure you receive an affidavit from the seller that there has been no work on the premises within 90 days or if there has been work a list of providers and evidence of payment. This is or should be normal practice, but I have seen both lawyers and title companies fail to obtain the necessary affidavits. If the property had been owned by a corporation or LLC, additional affidavits and documentations is required.

3. Title policies have "standard exceptions". Many of these can be removed if requested.

4, Title companies charge the same as attorneys for the title policies. Title companies and attorneys generally charge a document fee as well. The fee charged by a title company will probably not be much different than an attorney would charge.

5. The standard real estate contracts used by real estate sales people offer adequate protection for both parties. I have not reviewed the contract The Villiages uses for new homes so I cannot comment on that contract. Just make sure everything is on the contract and don't rely on any side or verbal agreements.

6. If a title policies is issued by the same company that issued an earlier title policy on the same property, an attorney can request a "reissue" credit which will lower the cost. This will never be offered by the title company.
Old 03-01-2020, 11:47 AM
Mikeodonnell73 Mikeodonnell73 is offline
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I brought my home two years ago and had the same feeling but the closing went well with no hang-ups. It seems like it is easy in the Villages to do everything.
Old 03-01-2020, 12:03 PM
rrb48310 rrb48310 is offline
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Originally Posted by Nucky View Post
In Central, Northern & Western N.J. not only do you need a Lawyer at closing but sometimes a Suit Of Armor is appropriate. I will be represented in Florida In The Villages for my next closing without a doubt. I have absolutely no problem to report from our first closing but for $500 I want someone to look things over on my behalf. The majority of the people I know didn't lawyer up for their Villages Closing and have had no problems.

How about THE FACT that you can not bring a Certified or Cashiers Check to a Florida Closing. It has to be via wire transfer. If there is one number off the possibility exist's that your money will end up in only God knows where and you will not be able to retrieve it in many cases. This was my experience anyway, yours may differ. Good Luck with to the OP with your decision.
If you are not sure of what contracts your going to sign mean, then get an attorney to review and explain. The time for attorney is at the start of the process, before you sign the purchase agreement and to review documents before closing.

That being said I’ve haven’t used an attorney but I was an associate broker and felt confident to review my own contracts. I’ve been at many closings that all attorneys did was repeat what the closing agent said.

I’ve been involved in two closings in The Villages and didn’t wire transfer the funds.
Never grow up, cause in the immortal words of John Cougar, Mellencamp... "Growing up leads to growing old and then to dying, and dying to me don't sound like all that much fun"
Old 03-01-2020, 12:03 PM
LouGraf LouGraf is offline
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Originally Posted by vintageogauge View Post
Please share with us who told you that.
I was told that by my Villages Real Estate Person.
Old 03-01-2020, 12:10 PM
jnafix jnafix is offline
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(a motorcycle enthusiast not a gilded fastener) ---------> OMG now I get it. HAAAA
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