Buying or selling property online is a relatively new phenomenon. In Florida, you have the option to go online, pick out a property and purchase it in a matter of weeks without the help of an attorney. However, this is a bad idea that may get you ripped off and in a legal problem.
The internet provides a lot of excellent services. However, this does not mean you should try to figure out complicated legal matters such as buying and selling property independently. Continue reading to learn more about why you need a lawyer to handle real estate transactions.
Protection from wire fraud
Real estate wire fraud is one of the most common forms of digital crime in the United States. According to the National Association of Realtors, 13,638 people fell victim to wire fraud in 2020. Criminals forge the identity of realtors or attorneys and then give you a phony bank account to wire funds. Without the help of an attorney, you might not have the expertise to identify such tactics.
Assistance with tax returns
Sellers who attempt to do their business solely online must deal with capital gains taxes. You may unknowingly commit tax fraud by improperly filing your return. An experienced real estate attorney can ensure you maintain good standing with your taxes.
Besides the reasons listed above, there are many other reasons you should hire a real estate attorney for your property dealings. Most people do not have the knowledge to handle such complicated matters independently, and without a professional, they make grave financial errors.
