The process of buying or selling residential or commercial real estate property can seem simple. In reality, there are several factors a prospective buyer or seller must consider before signing a real estate purchase and sale agreement. We can provide assistance with real estate sales. This includes the review and drafting of purchase and sale contracts, which may contain terms asking the buyer to purchase the property “as is.” We provide counseling in the event of default that may result in damages due to a potential breach of the agreement. Legal assistance is often required for instances of escrow deposit disputes, or where a seller seeks to do an “owner financing” arrangement with a buyer. For example, there are benefits and drawbacks to a wraparound mortgage if it is used as the financing vehicle. A buyer can benefit from legal counsel for the real estate closing, preparation of the note, mortgage, and identifying mortgage finance issues. Real estate transactions also require title examination to assure marketable title, ensuring that there are no unpaid taxes or liens against the property. We can also advise a buyer regarding owner’s title insurance. For a free consultation, please call our office.
Ownership of real estate can also result in legal issues:
- Florida law allows for a property to be jointly owned as tenants in common or tenants with rights of survivorship. There are legal rights and duties in every type of joint ownership, which can sometimes lead to issues among family members who are co-owners of a property.
- Other issues of ownership arise in the assumption of an existing mortgage. In this process, the assignor must be legally represented to assure that the lender will release him or her from the responsibility of the mortgage loan.
- Borrowers can also fall prey to mortgage fraud, where the need to save a property from foreclosure or the need for money can lead to rescue scams or equity stripping.
- Elderly individuals who are considering a reverse mortgage would benefit from legal advice because such a transaction may have legal consequences that should be thoroughly considered.
- At times a former owner may claim some ownership to a property, and a quiet-title action may be required to clarify the ownership of any interested individual.
You may contact us for a free initial consultation.
We can also assist in landlord-tenant law, real estate leasing, and evictions. Contact the firm if you are seeking assistance with the drafting and review of leases or notices to vacate. We also offer guidance regarding holdover tenants and other landlord-tenant litigation. Florida law prohibits self-help evictions, and a landlord cannot change the locks to a leased property without following proper legal procedures. A tenant who has not complied with a rental agreement or statutory law may face an eviction. For individuals seeking to sell a property to a tenant, we can provide representation in the preparation of a lease with an option to purchase.
For property owners subject to a homeowner’s association or condominium association, there are several legal issues that may require the advice of an attorney. Prior to purchasing a property, a prospective buyer can ask an attorney to review the covenants and bylaws of a given association to determine potential rules and assessments that will bind the new owner. It is important to know that failure to pay the assessments of a community association will entitle the association to file a lien against the property, and to potentially foreclose upon the lien. This means that an owner could lose title to his or her home, which is a severe consequence of not paying the dues or other fines. If you have any questions regarding homeowner’s association or condominium association law, please contact us for a free initial consultation.