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Melbourne FL Business & Real Estate Law Blog

What questions should I ask before making an offer to buy a home?

When evaluating a potential new home that you're interested in purchasing, not all of the information you need will be available in the documentation the home seller provides you. This means you'll have to do some digging with pointed questions that reveal what you need to know about the property.

For example, asking the following questions to the home seller will be very important for the purposes of evaluating the home you want to buy and making an offer

  • What did the home seller originally pay for the home? This information will give you an idea of how much property values have increased or decreased in the area where you're planning to purchase your residence.
  • How much does the home seller still have to pay on the home? When the amount owed on the home by the seller is higher than the asking sales price, the home is usually being offered as a short sale. Otherwise, the seller will need to be able to pay the remaining amount of money owed on the home at the closing.
  • How long has the home been up for sale? If the home has been on the market for over 60 days, you'll probably have a better chance of negotiating the price.

Buying or selling a property is a big commitment

Real estate is a big part of Florida's economy, and individuals and businesses alike are often looking for the right place to make a base. Between new shops needing a storefront to second homes near the shore, someone is always buying property to make a dream come true.

Title records are generally held by state and county authorities so that property owners in the entire jurisdiction are recorded. The buyer's real estate agent or lender in a financed purchase will request the title from the seller's attorney to begin the transfer after a purchase contract is signed.

What happens at my real estate closing?

As a first-time Florida home buyer, this probably is one of the most exciting times of your life. Everything has gone remarkably well for you up to this point. Not only did the seller agree to your purchase offer, you found a mortgage company willing and able to lend you the money. Now the only thing left before you proudly take possession of your new home is your closing.

Since this is the first time you have bought a home in Florida, this mysterious closing may have you worried. Who will be there? What will happen? What must you do that day? Take a deep breath and stop worrying. Your real estate closing is simply the last step of the journey you began when you decided to buy a home.

Why do people delay finalizing their estate plans?

There are countless Florida residents who have yet to finalize their estate plans. These individuals may have a variety of excuses for the delay. These excuses might even seem viable to them, but if they fail to complete their estate planning before they die, eventually there will come a moment when it's too late to get this task completed. For that reason, estate planning is best done now, rather than later.

Nevertheless, the excuses persist. Here are several of the most frequently used excuses for why people haven't finalized their estate plans:

Business litigation must be handled thoroughly

Businesses sometimes have to take drastic measures to protect their assets. In some cases, this means taking legal action. Business litigation matters a huge deal for companies because they can drastically impact the business. One thing is for sure in these cases -- you don't want to go into the case unprepared. We can help you find out your options for handling all matters related to the issue so that your business can move past the unfortunate events.

When we work with you on a business matter, we get to know your business. We want to know what we can do to help your business thrive. We need to know your goals so that we can work toward those during the case. You have to be the one who is in charge of the direction of the case.

Boca landlord sues a developer, builder for construction defects

Southstar Capital Group, the owner of a central Florida apartment complex named Sola at Celebration, has filed a lawsuit in against both the Houston-based Hines and their contractor Urban Oaks Builders. The property's Boca Raton-based owners maintain that both concealed, misrepresented or otherwise withheld information they had about certain construction defects that their master-planned community had.

In the Osceola County's Ninth Judicial Circuit court filing, Southstar maintains that the problems with their property, located in 1662 Celebration Boulevard, were not identified during a standard inspection. Instead, they contend that they were discovered as tenants began moving in.

Homebuying and closing myths that could cause you trouble

Buying a home is one of the biggest personal and financial decisions you will ever make.

It doesn't matter how much you're spending or where you're buying, once you sign on the dotted line, your life is sure to change in a number of ways.

Florida courts may rule on the state of trusts

Trusts are an excellent way of keeping our families and other interests safe when we are no longer able to manage our affairs. Florida lawyers and courts often rule on the best ways to create and preserve assets for offspring and benevolent causes.

Some trusts include clauses on how they may change form if circumstance dictates the need. These can also be interpreted differently, and courts occasionally need to rule on these interpretations.

Problems with construction projects must be addressed quickly

We recently discussed what you need to look for when you are signing a construction contract. This is more important than what many people might realize because if you don't get what you paid for or what was agreed to, this contract can contain the information you need to get the issues corrected or to take legal action.

There are some serious issues that can come up during a construction project that can ruin the entire job. For example, there might be substandard supplies that find their way to the site. If these are used to build the project, there can be some very serious issues with the stability of the building. This can be catastrophic if it isn't found early.

Will the city of Sarasota need to pay a $50 million verdict?

The city of Sarasota is on the brink of needing to pay $50 million in damages to a plaintiff in a breach of contract lawsuit. The plaintiff, Buck-Leiter Development, a private real estate developer, filed suit against the city years ago because Sarasota allegedly broke its contractual arrangement regarding a parking garage for Palm Avenue. Palm Avenue is a retail and hotel space that developers built on city property.

Ten years ago – in 2008 – city commissioners were negotiating their final agreement with the developer when the commissioners decided to cancel the deal because of finance and design disagreements. The developer filed suit, saying that the city had breached a prior agreement by backing out of a previous contract. The city, on the other hand, claimed that the developer breached the contract.

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