With tourism in Sarasota rapidly growing every year, people are continuing to buy and sell investment properties here (because who wouldn’t want to escape to sunny Sarasota?) These investment properties frequently become short-term vacation rentals, annual rentals, etc. An often overlooked, but equally important, section of the “As Is” and Standard Florida Realtors/Florida Bar Contract…
It’s that time of year again where folks take a few moments to reflect on the past year, and how each might make the next year better. In this regard, I thought back on some of the transactions I encountered where a small change in the Contract preparation might have saved a lot of angst…
The As Is Contract and Regular Florida Realtors/Florida Bar Contract forms both contain important disclosures under Section 10 “Disclosures”. One important but often overlooked section pertains to section (d) titled “Flood Zone; Elevation Certification”. Both versions of the Contract advise the Buyer to verify the elevation and flood zone of the property they are looking…
Rudolph “the Red-Nosed Reindeer” is selling his spring retreat in sunny Sarasota, Florida to Santa Claus for $295,000. As many know, Santa is a resident of the North Pole which is not technically affiliated with the United States. Rudolph and Santa used the standard FRBAR Contract prepared by Realtor Hermey the Elf. Pursuant to Paragraph…
‘Tis the Season, both the holiday season and property buying season are here. I think Eartha Kitt in “Santa Baby” had the right idea that a deed under the tree would make for a perfect Christmas gift. The purchase of an investment property that hits all a buyer’s requirements ergo a new income stream is…
Ask any experienced and successful realtor if an open house is an essential tool for an agent to move real estate and the answer will be a resounding yes! However, we have received a few inquiries if an agent could be liable to a potential homebuyer at an open house. And the answer is, unfortunately,…
Thanksgiving is officially over, and with it comes the end of many heated tableside arguments and debates – What is the best Thanksgiving food? Which relative is going to ruin the Thanksgiving this year? Do we really need to build a wall!?! While Thanksgiving disputes and festivities may be over, there is one thing which…
The day after Thanksgiving. A day to think about family. A day to contemplate all that is good and joyous in your life. A day to give thanks to the Florida legislature who in its infinite wisdom created a “proper payment” defense to construction lien claims that may be made against owners, and to discuss…
Without doubt, Realtors and Brokers provide invaluable services to buyers and sellers of real estate. Realtors and Brokers must know everything and anything there is to know about the subject property and have an understanding of laws regarding zoning, their fiduciary duties to their clients, why clear title is so important, and much more in…
Last week our blog discussed a new capital gain deferral strategy referred to as “Opportunity Zones.” In addition, there are several capital gain strategies that have existed for many years that might be useful to explore again, now that gains actually exist (especially on real estate sales). First, a brief primer. Capital gains result from…
