Florida Real Estate Lawyers Underused

With the undesirable U.S. rank of second in terms of mortgage fraud per capita, one might think Floridians would be among the most likely Americans to consult with real estate attorneys before completing transactions. It does not appear that way, however. A surprising 62 percent of Florida home owners and buyers did not utilize the services of a real estate attorney when renting, buying or selling their property. A survey conducted by Florida-based Attorneys’ Title Insurance Fund’s Consumer Education Campaign compiled the above figures and concluded that lack of understanding real estate laws is the second biggest obstacle to homeownership in the Sunshine State.

South Florida real estate attorneys are consulted more frequently by residents, compared to citizens elsewhere in the state. A significant 45 percent of Miami-Dade County inhabitants and 44 percent of Palm Beach County residents say they have worked alongside real estate lawyers in the past, compared to 31 percent of residents in the Orlando and Tampa areas. Additional findings from Consumer Education Campaign’s study include:

• A substantial 49 percent of Floridians polled cite protecting homebuyers’ interests as the most important facets in which real estate lawyers provide value, while resolving legal issues is seen as attorneys’ second most important service.
• Despite acknowledging that understanding real estate laws is the second biggest roadblock to homeownership, Floridians rank drafting a contract and issuing title insurance as the lowest priorities for attorneys.

Charles J. Kovaleski, president of the Attorneys’ Title Insurance Fund, hopes the survey will open the eyes of Florida residents, since real estate transactions are often the most important personal investments people make. “Understanding real estate laws is a major obstacle to owning a home,” He stated, “reiterating the value a real estate attorney can bring to the process and the importance of seeking counsel when buying, selling or renting a home.”

The survey’s conclusion of underutilization as far as real estate lawyers are concerned highlights an ongoing and often unseen problem — the existence of an environment that fosters fraudulent real estate activity in Florida. A real estate attorney can often spot signs of real estate fraud before it actually occurs. As the only professional in the process who is legally trained to identify and resolve such problems, their contribution is often invaluable.

Whether you are in Florida or anywhere else, it can never hurt to consult a qualified attorney, even if you are turned off by the initial expense. Remember that the size of the investment you are on the verge of making warrants extra caution. Abundant resources are at your disposal. The mission of the Attorneys’ Title Insurance Fund is to preserve and facilitate the real estate practices of its members in their protection of the public. Launched in 2001, The Fund Consumer Education Campaign was designed to educate Florida consumers on the home buying and selling process. Check it out. Learn more about how you can benefit from the services of an attorney.