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In Florida, the closing process involves several steps, including opening an escrow account, ordering a title search, and scheduling a closing date. Closing happens 30?45 days after the sales contract is signed but can vary depending on the complexity of the transaction.
View our quick breakdown of the steps to close below and let us know if you have any questions: Submit the Title Order. Open Escrow & Conduct Inspections. Start Title Search & Examination. Process the File, Conduct Appraisal & Confirm Loan Approval. Prepare the Documents & Schedule Closing. Closing on the Home.
This is the job of your real estate attorney or closing agent, who will run a real estate title search on the property's address to ensure that the title is clean?which means the seller has the legal right to convey title to the new buyer and that there are no liens (including from people who did prior work on the home ...
After a seller has accepted a buyer's offer on a property, the buyer does not automatically have a three-day right to cancel, unless the contract includes that as a specific provision. None of the Florida Realtors contract forms provides for this right.
Settlement/Closing the Transaction The seller signs the deed and the other seller documents, the buyer signs the buyer's documents and the loan documents (if the transaction is being financed), and both parties sign the HUD-1 settlement statement.
The short answer: Florida law does not require the parties in a real estate transaction to hire an attorney. In other words, it is not mandatory for buyers or sellers to rely on professional legal guidance when closing a real estate deal.