Law Office of Kimberly A. Abrams & Associates, P.A.

Fort Lauderdale Real Estate Law Blog

How will Florida’s new notary law impact home sales?

Florida lawmakers recently passed a law that could increase investment in the real estate market. The law, available here, allows for online, remote notarization. Those who are interested in purchasing property will no longer need to be in the state to get the documents notarized. The transaction could potentially be finalized completely online.

Is this a novel idea? Not really. Other states have passed similar laws. Virginia has had a similar law in place since 2011. Other examples are present in Nevada, Vermont and Texas.

Failure to review documents may have aided real estate scam

A real estate attorney can help buyers and investors to protect their interests. This is true for transactions that range from multimillion-dollar projects to buyers who are interested in purchasing a single-family unit currently owned by a bank. Buyers or sellers that fail to seek legal representation in these transactions can be at a greater risk for fraud.

Real estate contracts: What provisions are important?

Real estate contracts are often long, difficult to understand documents. Buyers, sellers and investors can benefit from a basic understanding of some of the more common provisions.

Three specific examples that warrant careful review include:

Florida real estate and taxes: Did the new law change things?

President Donald Trump’s piece of tax reform, the Tax Cuts and Jobs Act (TCJA), went into effect on 2018 tax returns. As a result, agencies are starting to gather and analyze data on the impact of the law. One specific area of concern: did the new tax law impact the housing market?  

New bill could change real estate in Florida

Florida lawmakers are considering a proposal that would set limits on the ability of local governments to control housing prices. The bill specifically addresses the use of price ceilings to provide affordable housing.

What led to the proposal? At the end of 2018, Miami passed an ordinance that required housing developers to include a percentage of units to accommodate low-income residents.

The next wave in CRE in FL? Communities with a focus on health.

A recent development in a local community in Orlando could be the start of the next wave in the commercial real estate (CRE) market. The development focuses on community health and well-being. It covers just less than 20 square miles and includes a children’s hospital, Veterans’ Affairs medical center and university medical centers as well as community pools and sports facilities.

What do first-time homeowners in FL need to know about titles?

Approximately two out of every three Floridians own property in the state. Those who are considering joining this group likely have a number of questions about home-ownership.

The first hurdle is generally financing. There are a number of programs that can help potential buyers afford their dream property. First-time home buyer programs are available through national programs with the Federal Housing Administration and U.S. Department of Veterans Affairs as well as more local programs through Florida’s Military Heroes Program, the Florida Assist Program, mortgages with local banks and credit unions.

Florida real estate law 101: What is a short sale?

A homeowner uses a short sale when they sell their property for less than the outstanding mortgage. A homeowner may consider a short sale if the value of the property falls significantly. Lenders will often consider a 20 percent drop in home price to qualify as a significant change in value.

Failure in communication leads to real estate lawsuit in Florida

A failure to properly communicate can result in issues during real estate transaction negotiations, frustrations after closing and confusion in the event of a foreclosure. Certain regulations and laws are present to better ensure proper communication during legal transactions.

What happens if a party to a lawsuit does not follow these rules? The court can dismiss the lawsuit. A recent case involving service provides an example. Service is a legal term referring to the moment one party informs the other that a legal proceeding is occurring.

Florida couple loses $46,000 in title dispute

Fraudsters recently scammed a Florida couple out of $46,000 in a title dispute. The couple lost the money when they wired the funds as allegedly instructed by their real estate agent. Unfortunately, the real estate agent’s account had been hacked and the hackers were able to divert to the funds.

Instead of going towards the home purchase, the fraudsters made off with the funds.

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    Law Office of Kimberly A. Abrams & Associates, P.A.
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