Orlando, Florida Escrow Services Lawyers
Legal Counsel, P.A. employs escrow lawyers who can work with you to handle every aspect of your home purchase, from the title search to the preparation of all documents pertinent to your home sale, to managing the closing accounts, including conducting a review of all documents, disbursing funds, meeting all requirements of the lender, and also ensuring that recordation goes as planned. From title search to recordation, our Orlando escrow services lawyers at Legal Counsel, P.A. can make sure that everything goes as required so that your home purchase can be closed on time and without stress. Having a reliable escrow lawyer on your side can ensure some peace of mind, knowing that your earnest money is being safely managed and knowing that the important documents required for your closing are being managed and organized for closing.
How Does Escrow Work?
The purchase of real estate is a major sale. For most people, it is the biggest purchase and investment they will make in their life. An escrow lawyer serves as a kind of intermediary between the buyer and seller. With such a large sale, the seller doesn’t want to give up the title without receiving the money for the sale and the buyer doesn’t want to transfer the money to the seller before the title is shown to be clean and before all documents and details are accounted for.
Your escrow lawyer will keep track of all documents, hold on to important documents, and keep all deposits related to the transaction. The escrow lawyer’s job is to facilitate the closing so that it goes as planned: by disbursing funds at the right time and by ensuring that recordation and the title transfer goes smoothly. So, what is the timeline for escrow, and what should you know when working with the escrow lawyers at Legal Counsel, P.A. in Orlando, Florida? Your escrow lawyer will ensure that everything goes as planned and should keep you up to date about timelines. Here is a general overview of what happens during escrow:
- The earnest money is placed into an escrow account. Neither the seller nor the buyer has access to these funds. Your escrow lawyer will hold this money during the transaction, and if all goes as planned, the earnest money will be disbursed to the seller along with the rest of seller’s proceeds at closing.
- While the earnest money is being held, any contingencies on the contract must be met, such as an inspection of the property and a satisfactory title search. Escrow gives the seller the assurance that if the buyer defaults, the seller may have the ability to obtain the buyer’s earnest money. Additionally, escrow also gives the buyer the assurance that if contingencies are not met or the Seller breaches the contract, then they can receive their earnest money back from the escrow account without the seller holding the money.
- Your escrow lawyer will review the conditions of the contract and keep you apprised.
- Finally, your escrow lawyer can ensure that the closing happens on time and that everything goes smoothly. Legal Counsel, P.A. has escrow attorneys who can ensure that the seller receives the money for the sale on time and that the buyer has all documents properly recorded and transferred into their name. The money for the sale will pass through escrow and escrow will ensure that the transfer of title happens right after the money is paid to the seller. Our escrow lawyers at Legal Counsel, P.A. can facilitate this process so that everything happens as planned and as required, and within the timelines required.
The escrow process, when handled correctly, can bring you from the signing of a contract for real estate to the closing of the sale. While there are sometimes delays in this process, having a lawyer on your side to guide the process can help. Legal Counsel, P.A. employs escrow attorneys in Orlando, Florida who can protect your interests through every aspect of the process. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.
Your home purchase or sale will likely be one of the biggest financial transactions you will make. Whether you are selling real estate for investment purposes or are buying or selling your home, having an escrow lawyer or escrow company managing your transaction is essential. It is important to have a reliable third party managing the disbursement of funds, facilitating the process so that all contingencies are met, and facilitating the movement of documents so that closing goes as planned. Legal Counsel, P.A. employs escrow attorneys in Orlando, Florida who can facilitate the process so that all steps are met. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.
