Protecting Your Real Estate Investment
Buying, selling or leasing Florida real estate can be rewarding and risky. Contracts can be full of legal jargon, which may not benefit you. Whether you are a first-time homebuyer or an experienced investor, The Louis Law Firm attorneys will explain the terms and conditions of your real estate sales contract in language that is easy to understand, watch for red flags that may not be in your best interest and help you get the deal you want and deserve.
Florida Real Estate Laws
Floridians are subject to federal and state real estate laws, as well as regulations that vary from county to county. These laws encompass everything from ownership of land and buildings to transactions and development issues such as financing, leasing, construction, taxes, and environmental regulations.
The attorneys at The Louis Law Firm are here to assist you with your real estate sale or purchase and maximize your interest in the transaction.
REAL ESTATE TERMS
A broker is different than a real estate agent. Both are important to the industry, but an agent is mainly responsible for just the real estate sales, whereas a broker is responsible not only for the sale, but also for the legal aspects of a real estate transaction. The broker’s job is to make sure that the real estate deal is legally binding in the state of Florida. Brokers have training in real estate law, though they are not usually lawyers (though some real estate lawyers are also brokers).
A deed is a document filed with the state of Florida that determines the ownership of a property. The person listed on the deed is deemed to be the rightful owner of the property. Certain legal formalities surround the transfer of ownership of the property and the delivery of the deed to the new owner. A deed includes the names of the buyer and seller and the property’s legal description. Even if a deed is transferred to a new owner from the previous owner, there is the risk that there could be claims or liens against the property. Deeds should be reviewed by a reputable real estate and title attorney to ensure that the document is accurate and conveyance is properly executed.
Home inspections benefit the property buyer. A home inspection is an independent and unbiased report by a licensed home inspector as to the condition of the house. The home inspection report lists areas that need fixed or may need repaired in the future. The report points out hidden areas that may not be obvious on the walk through of the house. A home inspection is necessary to help purchasers avoid buying a “Money Pit,” and to get full disclosure as to the condition of the property.
A closing is a final meeting to resolve any issues surrounding a real estate transaction before the deed is transferred. This meeting is the final negotiation of a real estate deal. The buyers, sellers, their attorneys, real estate agents and a representative from a lending institution (if any) are usually in attendance. Having your attorney present at this meeting is crucial to fair representation for your side of the transaction.
Before you buy, sell or transfer real estate, contact The Louis Law Firm today toll free at 1-855-900-2-LAW or locally at (407) 603-6044 to make sure that your investment and your interests are protected.