Real Estate Blog

UNDERSTANDING THE STATUTORY HOA/COA DISCLOSURES

The mandatory disclosures outlined in the Florida Statutes are an often overlooked or unknown disclosure requirement by the Seller of a property located in a Condominium Association (COA) or a Homeowner’s Association (HOA).” Failure by the Seller or their agent to timely provide these disclosures can lead to the Buyer receiving an easy ticket out…

A CURRENT HOT TOPIC: SOLAR PANELS

Air conditioning on full blast, only being able to walk the dogs at 7:00 am, constantly feeling dehydrated – it is summertime in Florida! Summer in Florida is H O T. It is not surprising that Florida is called the “Sunshine State.” With Florida’s abundance of sunshine, there has been an increase in solar panels…

Homeowner Benefit Agreements

(Caveat emptor – “Let the buyer beware”) What is a Homeowner Benefit Agreement? A Homeowner Benefit Agreement is where a homeowner receives a moderate cash payment in exchange for agreeing that, if the homeowner ever elects to sell its home during the term of the agreement, then the homeowner must enter into a separate listing agreement with that Realtor for the sale of the…

What you need to know about out of town buyers

Absent! Out-of State Buyer: What You Need to Know

In Florida, we are no strangers to the out of state Buyer and/or Seller. While Sellers and “cash” Buyers can be fairly straightforward to coordinate the Closing with, financed Buyers require more preparation and communication to ensure a smooth Closing. What are the Issues that Arise with the Out-Of-Sate Buyer? Closing Date: When the Buyer…

Are we closed yet?? – Understanding when Closing occurs and what it means for your Seller

One of the most common questions real estate attorneys get at the end of a transaction is “Are we closed?” Buyers are anxious to receive the keys and start moving in boxes and Sellers are anxious to see the closing funds in their account. However, Sellers are sometimes surprised to find out that the transaction…

Estoppels: Are They More Than Just Numbers?

If you are closing on a property in Florida, it is likely that the property is part of a Homeowner’s Association or a Condominium Association (“Association”). An Association is an organization that is typically comprised of a group of elected residents whose primary responsibilities are to keep property values high by enforcing rules, regulations, and…

Permitted to Close

With the popularity of home improvement shows on HGTV, homeowners are remodeling their kitchens, bathrooms, and pools. Often, this work will require that the homeowner obtain a building permit to construct the project. However, these permits are often not adequately addressed until an issue arises during the closing process. This blog focuses on navigating the…

Flood Insurance Tool Kit

Did you know that the highest elevation in Florida is just 345 feet? However, our beautiful City of Sarasota and surrounding areas have a much lower elevation, sitting at an average of 16 feet above sea level. Given our proximity to some of the world’s finest beaches, it’s no wonder the issue of flood zones…

Don’t Let Your Closing Get Blown Away!

Hurricane season is upon us, which means it is once again time to visit the Force Majeure provision of the FAR/BAR Contract. Over the last couple of years, this section has been reviewed in the context of the pandemic, but it is important to consider how an approaching storm could impact your closing. During a…

The Multiverse of Repairs: Repair Responsibility During & After the Home Inspection

Parties to a FAR/BAR transaction are often confused about repair obligations and remedies with a repair dispute. Much of the confusion results from the nuanced differences between the Residential Contract for Sale and Purchase (“Standard Contract”) and the “AS IS” Residential Contract for Sale and Purchase (the “AS IS”). While this will not be a…

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