Closing in Florida

[Mark Resnick]

Hi Everyone,

I hope everyone had a great year and will have a better one this year with only good news.

I just closed 2 days ago on my first investment property. It is in Fort lauderdale, Florida. I live in NYC. After networking with people for aprx. 8 months I decided to hire this broker and property manager that lives in Florida. I know someone who used him for a couple of years and recently bought again from him since he is very happy with him. 

The broker called me up about 2 months ago saying he found me a great 4 unit home. The numbers sounded great to me. This is where I need everyone's advice. I went and trusted this broker with his advice from the beginning through closing. He told me that I should use this closing attorney that will deal with the title stuff etc. He said he knows the lawyer and worked with him for many years. I agreed to use him. Meanwhile I did not know that in Florida I don't need to hire an attorney.

When we got closer to the closing date, The broker told me that I don't need to worry the attorney will hire a mobile closer to be there at the closing and help me. On the day of the closing we did it by the bank in NY that I received the mortgage from.The mobile closer comes 20 minutes late. He then says I am in a rush because I have another appointment. He told me he is only a notary and cant explain in details all the documents. He will try to summarize it. The loan officer heard that and got mad. She called up the closing attorney in Florida and said that he should please call me to explain the documents as I sign it. He agreed to call in a minute and never called me. Plus the notarey charged me $175

My questions are....

1. Is there anything I should do now? or should I just be happy it is all over and enjoy my return on the home?

2. What are the advantages of having a closing lawyer?

3. Should I still hire a different lawyer for next time or just close without a lawyer?

4. Any other advice or comments would be appreciated.