Closing and Escrow
Buyer and seller document preparation, including:
- IRS Residency Certificates
- Acknowledgments and Affidavits
- Privacy Policy
- DFS Form (Florida Insurance Premium Disclosure)
- Warranty Deed/Assignment of Proprietary Lease (Co-op)
- Bill of Sale
- Disbursement Authorization
Notary Service
You need all the safeguards the law provides when transferring ownership. Closers handle documents about the property, including the title. Our online notary service ensure documents have been signed and notarized to maintain the authenticity and speed of the transfer. Our notary team objectively witnesses all transactions, even those that do not require notarization for your peace of mind.
Title Insurance
What is title Insurance
Title insurance is an insurance policy necessary for the purchase of real property when there is a mortgage; and although not required when a property is purchased without a loan, it is recommended for any purchase of real property as it protects homeowners and the mortgage lender from claims and losses stemming from any title issues. This may include back taxes, liens and conflicting wills that may not have been identified at the time of closing.
Should a title dispute arise, real estate title insurance provides protection to homeowners and mortgage lenders by defending the insured against defective title lawsuits, and will reimburse the insured for the actual monetary loss incurred, up to the maximum amount allowed on the policy.
Why is title insurance important
Undetected title issues can arise when transferring the ownership of a property despite the diligent search efforts of title underwriters.
- Forgery of notarization or witness acknowledgment
- Mental incompetency
- Misinterpretation of wills, deeds and other instruments
- Challenges under foreign law
- Falsified power of attorney
- Undisclosed divorce
- Unlocatable land records or land without a right of access
- Deed not properly indexed or joining all heirs
- Undisclosed recorded federal or state tax lien, prior mortgage, or boundaries
- Misleading legal descriptions
- Discovery of later will
- Deed not properly recoded
- Unrecorded contracts and deeds
FIRPTA
What is FIRPTA
Buyers of a U.S. property must pay 10 percent of the amount realized by a foreign seller through the Foreign Invest Real Property Transfer Act (FIRPTA). The tax law imposes U.S. income tax on foreign persons selling American real estate. If you buy property from a foreign national, neither a U.S. citizen nor a resident alien, up to 10 percent of the amount realized from the sale is required to be paid, in general this is the amount realized of the purchase price. The payment is required to be remitted to the IRS within 20 days after closing
How we comply
When applicable, our staff can assist with the preparing and filing of:
- Required 8288 Forms
- Application for a Withholding Certificate
Entity Formation Services
Let our legal and accounting expertise work for you! We can assist you in deciding the entity type most beneficial for your purposes, such as:
- Limited Liability Companies & Partnerships (LLC, LLP)
- S Corporations
- C Corporations
Mitchell has been a licensed attorney since 2014 and has practiced in both the transactional and litigation fields of law. His experience allows him to approach every transaction with a depth of knowledge and practical experience most attorneys do not possess. Mitchell prides himself on providing top notch service to his clients.