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All points of a sales contract are negotiable

June 14, 2019
By ERIC FEICHTHALER - Real Estate Law , Cape Coral Daily Breeze

Mr. Feichthaler:

I am in the process of selling my condominium, and my Realtor received an offer to purchase. The offer requires that we close with a title company in Dade County. Do buyers choose where we close the transaction? We would rather close with someone local.

- Paula R.

Dear Paula:

Generally, your Realtor will include information about where a transaction will close on the MLS listing. However, all points of a contract, including where title is handled and who pays for it, is negotiable.

In Lee County, the seller normally pays for the owner's title insurance policy. The standard real estate contract generally provides that whomever is paying for the title policy will choose the law firm or title company where it closes. So, the seller normally chooses.

I advise my clients who are sellers that, if they are paying for the title policy, you should close with a firm that you feel comfortable with. Cape Coral has some unique features when it comes to real estate that firms in Dade County may not understand, so using a local firm can avoid potential headaches later. With that said, if the buyer is willing to pay for the title policy, I recommend you allow them to choose, as the cost savings generally outweighs the benefits of choosing where the transaction closes.

You can always make a counter-offer if you find the price acceptable, to either close at a firm of your choosing, or require the buyer to pay for title if they want to choose the closing agent. I wish you all the best in maximizing the money received from the sale of your condominium.

Eric P. Feichthaler has lived in Cape Coral for over 30 years and graduated from Mariner High School in Cape Coral. After completing law school at Georgetown University in Washington, D.C., he returned to Southwest Florida to practice law and raise a family. He served as mayor of Cape Coral from 2005-2008, and continues his service to the community through the Cape Coral Caring Center, Cape Coral Historical Museum, and Cape Coral Kiwanis. He has been married to his wife, Mary, for over 18 years, and they have four children together. He earned his board certification in Real Estate Law from the Florida Bar. He is AV Preeminent rated by Martindale-Hubbell for professional ethics and legal ability, and is a Supreme Court Certified Circuit Civil Mediator. Mr. Feichthaler can be reached at eric@capecoralattorney.com, or (239) 542-4733.

This article is general in nature and not intended as legal advice to anyone. Individuals should seek legal counsel before acting on any matter of legal rights and obligations.

 
 
 

 

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