ANSWER: Not true. There are certain actors involved in real estate transactions who for their own perceived self interest propagate the myth that by hiring an attorney, whether you are a seller or a buyer, you are likely interfering with an otherwise smooth real estate closing process. Or stated in other ways, “the title company will simply handle it all, no need for counsel.” This is false for many reasons, most importantly the details of the Buyer’s title insurance policy. Title insurance, perhaps the most important aspect of the real estate transaction for the Buyer, isn’t all the same. The manner in which title commitments are prepared, namely the list of “exceptions” to the title insurance coverage, dramatically impact the extent of title insurance coverage. In a traditional real estate transaction upon the consummation of the closing the Buyer should be expecting to receive title to the property free and clear of any construction liens, mortgages, property taxes, community association obligations, or other defects of title impairing the value and marketability of the property. Should a lien or other title defect go undiscovered or arise shortly prior to closing, the title insurance policy is there to protect and insure your interest as a buyer. However, the details of the title insurance commitment and policy dictate what defects are afforded title insurance coverage and which defects are excluded from coverage. If the title insurance commitment and policy are not laden with inappropriate exclusions from coverage, you as a buyer will have the necessary peace of mind. Thus, only a qualified real estate practitioner will ensure you are properly insured for your real estate transaction.
About SJW Law Group, PLLC
SJW Law Group, PLLC was formed in 2018 headed by Scott J. Wortman, Esq. who has been practicing law for twenty-five (25) years. Scott J. Wortman, Esq. is a Florida Bar Board Certified Real Estate Attorney and a Florida Bar Board Certified Condominium and Planned Development Law Attorney. Throughout the entirety of his career, Mr. Wortman has handled all aspects of residential and commercial real estate transactions including contract drafting, review and examination of title work, curing title defects, extensive interaction with buyers, sellers, real estate agents, mortgage brokers and lenders for coordination of all closing matters. For the past dozen years, Mr. Wortman has maintained an extensive community association practice serving as counsel for dozens of homeowner’s association and condominium associations throughout the state of Florida overseeing their governance issues, covenant enforcement, collection matters, litigation and compliance with Florida’s Marketable Record Title Act. Since 1994 Mr. Wortman has represented small and mid-size businesses with regard to their corporate matters, including drafting shareholders agreements, employment contracts, purchase and sale of business assets, commercial leasing issues, as well as dissolution and partnership disputes. Mr. Wortman is joined by associate Sharlene Goldstein, Esq. who assists Mr. Wortman with regard to his community association matters.