In Sarasota, Manatee, and Charlotte Counties, the party paying for title insurance in connection with a real estate transaction is negotiable. It is customary though that the buyer selects the closing agent and pays for the title insurance, title search fee, and the settlement fee. However, in sales of short sale and bank owned properties, the seller usually pays these charges. The good news for the buyer is that the buyer is not having to pay these charges; the bad news for the buyer is that the buyer has no legal representation in the closing. Mr. Greenberg and Ms. Coldiron represent buyers of short sale and bank owned properties on a fixed fee basis for an amount usually much less than the fees that the buyer would have paid if the buyer were paying for the title insurance, title search, fee and Settlement Fee.
Legal representation of a buyer of a short sale or bank owned property is just as important, perhaps even more important, than a “regular” sale since there are matters specific to these types of transactions which require the experience of an attorney specializing in real estate transactions.