by Caroline Gabsewics
Staff Writer
Once a home buyer has found the perfect house, it’s time for the Realtor and new homeowner to take the back seat and let an attorney handle the closing before handing over the keys.
Real estate attorneys have a lot to offer Realtors since they can use us them as their in-house legal department, said Blake Deal III, the managing partner at Bartlett & Deal.
He added that if a Realtor develops a relationship with a real estate attorney, they could have a lot of additional benefits for no money.
Some of those benefits include:
• Helping Realtors draft contracts or addendums which often are necessary as the situation changes from contract to closing.
• Handle disputes over escrow funds, binder deposits, home inspection repairs and WDO inspection repairs.
• Mediate and handle disputes and draft necessary documents at the closing table.
• Having a person to go to with legal questions and issues relating to real estate, or any other business and personal matters.
“When a real estate agent develops a loyal relationship with a real estate attorney, there are many benefits which they get and usually won’t get charged for,” said Deal. “Most of us realize when an agent is sending their closings somewhere else, and just calling us for help with problems, we start charging them our normal hourly fee.”
He says there are some misconceptions about title companies that Realtors may not understand.
Many real estate agents don’t understand that a title company can just act as a settlement agent, he said. “They can’t draft documents or contracts, they can’t give legal advice.”
Deal believes it is all about developing relationships to receive the best benefits.
“The guiding expert hand of an experienced real estate attorney can lead to many deals closing that wouldn’t have otherwise,” he said. “Many markets in Florida don’t have a quality network of real estate attorneys like we have here in Northeast Florida.”
We asked both Realtors and non-Realtors a few questions about their own real estate attorneys and the reasons why it is important to have a real estate attorney at their finger tips.
Carrie Budds, home mortgage consultant for Wells Fargo Home Mortgage, said there are certain things to expect from a good real estate attorney.
Budds’ real estate attorney is Bryan Goode III of DiRito, Goode & Dempsey in Jacksonville Beach.
“They should be available to answer my questions regarding title and contract issues. Several companies have really great closing agents, but you don’t have access to the attorney,” she said. “It is different with Bryan.
“He gets involved with every closing and addresses issues with me personally.”
Carmen Edwards, district staffing manager for Zip Realty, said they use Matt Wolfe of Crumley and Wolfe on Edgewood Avenue.
“An attorney should have great customer service, order survey, order title and title search, keep all parties updated on current progress, work in conjunction with the lender to get HUD-1 out in a timely manner — 24 to 48 hours of closings to all parties,” she said. “It is also important to treat all parties with respect.”
Edwards added that she does not believe that Wolfe has any misconceptions about Realtors because he used to be a Realtor himself.
“He was a Realtor for years and understands what we do,” she said. “I think this is one reason he is so good at what he does.”
Sheron Willson, broker/director of training with Prudential Network Realty, said they use Gibraltar Title Company to assist them with legal related business. That’s understandable because the companies share ownership.
“Al Copertino and Kisha Pruitt as well as the president of Gibraltar Title, Michael Hughes, are available to support the team of professionals at Prudential Network Realty,” she said. “From negotiations to closings, we can count on Gibraltar Title and the in-house attorney for support and advice.”
Willson said it is important to have a team of attorneys to protect their clients, customers and themselves.
“We as real estate professionals or even brokers should not practice law.”
Willson said the process is always honest, smooth and extremely full service.
“They have multiple closing sites and are willing to take closings to the customer — those are just a few of the above and beyond ways Gibraltar Title has helped me over the 12 years I have worked with them,” she said.
Willson said she has always had a great working relationship with Gibraltar’s group of attorneys because of their long time involvement in the real estate industry.
“I do not think they have any misconceptions about Realtors,” she said. “They respect our position as we respect theirs.
“Sometimes they call us to discuss a Realtor questions just like we call them about the law.”
Gwen Templeton, vice president/broker for Watson Realty’s Atlantic Beach office, said they use Denis Guidi.
“He has been used by our company a long time,” she said.
We expect to get the straight story and knowledge about all of the ways in which taking title to property will affect your interests and ability to transfer your interest,” she said.
Diane Davis, a Realtor with Distinguished Realty, uses the law firm of Sheffield & Boatright.
“Most attorneys know the Realtors they deal with and most Realtors know the attorneys they deal with,” she said. “They know and we know their strengths, weaknesses, timeliness, flexibility, likes and dislikes.”