by Mike Sharkey
Staff Writer
Buying a home is a complicated process that involves a stack of legal documents that real estate agents and attorneys both spend years learning to fully comprehend. For many home buyers, this maze of legal hurdles can be intimidating. And, once closing day arrives, it’s imperative to everyone involved that there are no logistical issues involving missing documents or partially filled out paperwork.
After perhaps months of looking, negotiating and lining up financing, the last thing a home buyer or real estate agent wants at closing is a legality holding up or delaying the penultimate step in the process (getting the keys to the house is the final step). A good real estate agent-attorney relationship can not only make the closing easy and quick, it can assure the entire home-buying process flows smoothly from start to finish.
The general consensus is that real estate agents and real estate attorneys in the Jacksonville area have a good working relationship. They both understand the importance each other plays in assuring the home buyer — many of whom may be buying a home for the first time and may be apprehensive and almost leary of the mountain of paperwork — is well-informed and comfortable at the closing.
Julie Brigman of Watson Commercial Investment Division says there are three things that real estate attorneys can do to help real estate agents and home buyers throughout the process.
“Have proactive, effective communication systems in place so that any assistant can answer general questions about each deal,” said Brigman. “Have well-trained staff and assistants. Have a central system for calendars and solid scheduling.”
Brigman did admit that she doesn’t always follow her own advice.
“Hey, if I did all of this in my own business I might make the attorney’s life easier,” she said.
Jeff Kern of Embassy Mortgage said simplifying everything as much as possible would help everyone.
“Be patient with the client, speak in terms that are common to the client, be professional, be on time,” said Kern. “And return calls.”
Carl “Hap” Stewart is a real estate attorney with Taylor, Stewart, Houston and Duss. Stewart, who been doing real estate law for about 12 years, said his firm maintains a solid relationship with virtually every real estate agent it encounters.
“Most of the Realtors we deal with are pretty savvy,” said Stewart, a former Jacksonville Bar Association president. “They are awfully good and really well-trained. They know what we need and are very good about faxing over what we need. We have a good relationship with all our Realtors.”
Tom O’Connell of Watson Realty said understanding that real estate is practically a seven-day-a-week industry is helpful. Often, closings happen at the convenience of the seller and buyer, not at the convenience of the attorney and real estate agent.
“Since no two transactions are alike, the key to success is often flexibility,” said O’Connell. “Evening or weekend closings can often make life easier for buyer and seller, and for us. Attorneys should develop and distribute to Realtors a worksheet so that when a contract is turned in for processing, most of the basic information is on hand. This would eliminate follow-up requests for more info and expedite the closing process.”
Stewart understands this concept and said that in his 12 years, any delays or last-minute problems are usually attributable to lending issues between the buyer and the financial institution. He also knows that successful closing are good for the clients, real estate agents and attorneys because that means everyone gets paid sooner.
“That’s exactly right. It’s a big incentive, no doubt,” said Stewart. “A prompt, punctual closing is everybody’s goal.”
Dee Bumbarger of Buck & Buck doesn’t have many complaints or suggestions.
“In my 20 years in real estate, with one or two exceptions, my files have been handled beautifully,” he said. “Everyone seems to bend over backward to make sure everything is done correctly and on time. I wish we could get closing statements sooner, but I guess that given the amount of work that flows across lenders’ desks and attorneys’ desks, we should celebrate just getting to closing on time.”
Like every other industry, technology has helped the real estate world. Through the Internet, it is possible to exchange documents within seconds instead of days.
“The best improvement in communicating with closing attorneys and their staffs is e-mail,” said Russell Grooms of Watson. “The ability to send contracts, instructions on when and what to order, bills and invoices, and communications with lenders that reference closings while having confirmation that these tasks have been completed has made our job more efficient.”
Attorney Gordon Nicol added one strong suggestion for real estate agents: “Develop a check list. Use the check list.”