The Lorenzana Law Firm is a Miami based boutique law firm serving clients all through Florida. The firm handles both commercial and residential closings for clients, including out-of-state visitors purchasing investment and/or vacation homes in Florida. We also handle title insurance as Mr. Lorenzana is a title agent with the Fund.
TITLE AND CLOSING SERVICES
Title services are a crucial part of nearly every real estate transaction. Real property carries with it a history. Sometimes this history can include baggage that can adversely affect the value of the realty or make it difficult to sell. A thorough title inspection in Florida can uncover these defects and encumbrances. An experienced closing agent can also take steps to resolve these discrepancies so that the transaction can go forward.
A “title” is legally defined as the right to inhabit and use the space in question. Every property has a chain of deeds that chronicle its history. However, sometimes this history contains harmful material that can impair the value of the property or make sale difficult. This can include old mortgages and liens, easements, adverse claims of ownership, deed covenants, and other encumbrances. When these types of impairments surface, the parties must usually deal with them before the transaction can go forward.
A “title search” is the process in which someone does an exhaustive review of past records associated with a specific property. These records typically include, but are not limited to, court records, deeds, liens, mortgages and property and name directories. Title searches are done to confirm that seller can lawfully transfer ownership, and to unearth any issues that could adversely affect the transaction.
This can be a complex task depending on the history of the property in question, but Lorenzana Law Firm has the skills and experience required to conduct thorough title searches on behalf of our clients.
Closing is the actual transfer of title from seller to buyer, usually accompanied by the transfer of the purchase money from buyer to seller. This can be a complex and multifaceted process that usually occurs through an intermediary called an escrow agent. But before the transfer can take place, several things must occur.
The Lorenzana Law Firm will ensure that all parties involved receive required documents during a mortgage loan closing. We provide escrow instructions to third parties like real estate agents, to receive funds such as fees/commissions and make certain the seller’s bank is repaid and that any remaining monies are paid to the seller.
As closing agents, we also make sure buyers receive the property deed and lenders get the deed of trust, or mortgage, showing a lien is on the property. Once the closing is completed, closing agents are also responsible for the filing of legal documents with county recorder offices showing property title and the mortgage on the property.
At the Lorenzana Law Firm, our employees conduct and coordinate this process so that the parties can close their sale with peace of mind and minimum expense.
If you are planning to conduct a real estate transaction in the Miami area, or anywhere else in Florida, contact the Lorenzana Law Firm to discuss your needs. We look forward to exceeding your expectations and helping you achieve all your real estate goals.