Real Estate Blog

Damaged roof with a chimney missing shingles after a hurricane

After the Hurricane: Now what?

Due to the damage sustained in Southwest Florida from Hurricane Ian in September and the following months, our local real estate community became intimately familiar with relatively seldom-used contractual provisions such as the “force majeure” and “Risk of Loss” clauses in both versions of the FAR/Bar contracts. By this point, it’s safe to say that…

Any issues with a home purchase need to be resolved prior to closing, or the buyer will have no recourse against a seller.

Did I just close over that?

A common worry that we hear from agents and buyers is that any issues with a home purchase need to be resolved prior to closing, or else the buyer will have “closed over” the issue and will have no recourse against a seller who has acted badly. The thinking is that if the buyer knew…

“If You’ve Gots The Poison, I’ve Gots The Remedy” – Available Remedies for Breaches in Real Estate Contracts

In every FAR/Bar Residential Sale and Purchase Contract, “AS IS” Contract, and Vacant Land Contract, there are terms and conditions that govern the conduct of the parties to the Contract. Unfortunately, there are times when one or both parties to the Contract do not follow those terms and conditions. Often you get this question: “The…

Insurance Considerations as Hurricane Nicole Approaches

As Florida braces for the possible threat of Hurricane Irma, we encourage you to take all necessary precautions to ready your loved ones and homes for potential impact. In addition, if you are purchasing or representing a buyer of a property that is set to close soon, we urge you to contact your insurance provider…

Do I Really Need an Escrow Agreement?

There are a multitude of situations that might trigger the need for a post-closing escrow agreement. A few examples I’ve encountered lately include the following: Escrowing for repairs that could not be completed prior to closing. Escrowing to allow a Seller to remedy a survey defect post-closing. Escrowing to confirm whether a condominium special assessment…

FRAUDULENT CHANGES TO CORPORATE OFFICERS

FRAUD COMMITTED ON “SUNBIZ” What is Sunbiz, and why is Sunbiz important to the Real Estate Industry? “Sunbiz” is a website administered by the Florida Department of State, Division of Corporation, providing access to public information about Florida business entities (i.e., corporations, limited liability companies, limited partnerships, general partnerships, and limited liability limited partnerships). It is…

Is a Picture Worth a $150,000 Fine?

In preparing to list a property, real estate agents often engage a professional photographer to show the property in its best light. Typical contracts for services with photographers grant licensed use to the real estate agent for that specific transaction; any use beyond the specific transaction can result in expensive consequences. For example, based upon…

Let’s Talk, Buyer to Buyer

In both the “AS IS” and Standard Residential FAR/BAR Contracts (“Contract”), Section 7 addresses when a buyer can assign the Contract to a new buyer. This section is often overlooked as it is used infrequently or is more of an afterthought for a buyer. This usually comes up when a Buyer says, “Actually, I would…

With Fraud on the Rise, Are You Protected?

It is all too common that after opening a new file for a real estate transaction, we as the closing agent get a call or email from a buyer, seller, or real estate agent asking us why our software/portal requires multiple verifications when attempting to log in. The answer is simple, albeit unsettling. Fraud is…

Post-Disaster: Impacts on Closing

On September 28, 2022, at 3:05 pm, Hurricane Ian made landfall in Florida as a Category 4 hurricane with maximum sustained winds of 150 mph. Hurricane Ian came ashore near Cayo Costa, an island off the coast of Fort Myers, and then proceeded to batter Southwest Florida with wind, rain, and flooding for several hours…

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