How to Protect Your Legal Interests in Multi-Million Dollar Home Purchases
A multi-million dollar home purchase isn’t just a real estate transaction—it’s a significant financial move with long-term implications. In South Florida where luxury homes are in high demand, buyers often move quickly to lock in a deal. But acting fast shouldn’t mean skipping over the fine print.
Florida law doesn’t require you to use an attorney when buying real estate. But if you’re purchasing a high-end property without legal guidance, you’re taking unnecessary risks that could cost you far more than legal fees. When the stakes are high, your transaction deserves more than a basic review by a title company. You need legal protection from start to finish. That’s why we say Never Close Alone.
Legal Protection Starts Before You Sign
The contract is the foundation of any real estate deal. Yet most luxury buyers don’t realize how much can go wrong with a poorly drafted or boilerplate contract. Contingencies must be clearly written. Deadlines need to be realistic. And clauses that benefit the seller more than the buyer should be flagged and revised before you sign.
Another key step is verifying that the title is truly clean. A basic title search isn’t always enough. You also need a lien search to uncover unpaid utilities, open permits, or prior code violations—none of which appear in a standard title review. If an attorney does not represent you during this stage, you may not know what was missed until it’s too late.
Inspections are equally important. Beyond the usual structural review, a luxury home might have custom features, additions, or high-end systems that require additional inspection or permitting. You want to ensure all improvements are properly permitted and comply with current zoning rules. Otherwise, you could end up inheriting someone else’s legal problem.
How You Hold Title Matters
Once the property passes inspection and the title is clear, it’s time to think about how you’re taking ownership. This is often overlooked, but it’s a critical step if you’re trying to protect the home from creditors, manage taxes, or plan for your estate.
Some buyers form an LLC for liability protection, while others prefer to hold title in a trust to avoid probate. Each structure has trade-offs. The key is to align your ownership with your long-term goals. If that step is skipped or rushed, you could lose out on homestead exemptions, expose yourself to unnecessary tax liabilities, or face challenges transferring ownership later.
Lastly, closing with an attorney ensures your escrow funds are appropriately handled and all documents are reviewed before they’re signed. Title companies handle paperwork, but they don’t represent your interests. In a transaction involving millions of dollars, that’s not a corner worth cutting.
If you’re buying or selling luxury real estate in South Florida, you need to be protected at every step. Contact the Law Offices of Jacqueline A. Salcines, PA, for legal support that matches the caliber of your investment.
