Miami Real Estate Lawyer
The population of Florida has grown by more than the national average for several years running now, coming in at number 4 in 2016 (the most recent available data year). As a result of this, the Florida real estate market is perpetually in motion, buying and selling houses and condominiums just as quickly as others go on the market. However, the frequency of these transactions should not indicate that buying or selling a home is easy. Real estate purchases and sales are some of the most complicated events one can go through, and an experienced Miami real estate lawyer guiding you through the process is absolutely critical.
Buying: Doing Due Diligence
Buying a home in Florida can be extremely difficult, especially if one is unsure what they are looking for. For example, Florida condominium association and homeowners’ association agreements are some of the strictest in the country, with very specific regulations about what one can and cannot do on their property. Many from out of state are unaware of this tendency and may run into trouble, or wish to back out if they learn of HOA covenants only after the fact. An attorney based in Florida will be much more familiar with potential deed restrictions than you will.
The other major way an attorney can be of help to a home buyer is to prepare the relevant closing forms. Most real estate closings in Florida are done face-to-face, and the paperwork like the mortgage, the deed, and the promissory note will change hands at that point. While real estate agents can be very helpful, they are not licensed to prepare legal documents (unless, of course, they are also an attorney, though that can be a conflict of interest). Because of this, most home buyers engage their own attorney and have that person prepare the closing documents so as to ensure that all is well.
Selling: Painting An Accurate Picture
While historically, the guiding principle of real estate buying and selling has been “buyer beware,” Florida law has changed some things so that sellers must make specific disclosures to any potential purchaser, in an effort to somewhat level the playing field. The Florida Association of Realtors has a form that you may complete as a seller which covers the disclosures you must make by law, such as whether there have been any sinkholes – a phenomenon much more common in Florida than in many other states – or other structural damage, whether there are legal proceedings going on regarding any aspect of the property, and many others.
It is important to keep in mind that while you must comply with the law surrounding disclosure of certain facts, you are generally not responsible as a seller for potential issues that you “ought” to have known about. Unless a buyer can demonstrate that you did in fact know of a problem with the property, it will in most cases not be possible for them to allege fraud or bad faith if a problem crops up at a later date.
Ask An Experienced Miami Real Estate Lawyer For Assistance
Real estate law is one of the widest and most varied fields one can encounter, with details being paramount. If you have questions about a pending real estate transaction, calling an experienced real estate lawyer is a great first step toward having them answer. The Miami real estate lawyers at Nowack & Olson, PLLC are happy to try and assist you. Call us today to schedule an appointment.