Real estate contracts may include a right of first refusal provision. This provision allows the holder the opportunity to match purchase term agreement offered by a third party.
What to include: Two specific examples
Escrow dispute and Florida law: The basics
Real estate purchases are often the most expensive item any individual will purchase. This transaction often involves a deposit, a small portion of a proposed offer on the piece of property set aside to ensure the seller the buyer is serious about the offer. The buyer generally places the deposit into escrow.
Who manages the escrow account? Florida state law requires a third party serve as the escrow agent. Generally, this individual is either the buyer or seller’s real estate brokerage or an attorney.
"As is" real estate contract heads to Florida court: 2 lessons
The "as is" real estate contract can bring many reactions. Some may see it as an opportunity for a good deal, others a deal to avoid. This case provides some valuable lessons to anyone that finds themselves in the former group.
The case, Diaz v. Kosch, begins in 2012. At that time, sellers listed their Florida property. The sellers include a "Owners Property Disclosure Statement" that also allegedly encouraged any prospective buyer to "thoroughly inspect" the property. Potential buyers, described in the case as having "substantial experience" with real estate matters, agree to purchase the property "as is" and offer $2,850,000 with a $50,000 deposit.
Drafting real estate documents? 4 tips for success.
The real estate market in Florida is booming. This is particularly true in Fort Lauderdale, which has become a hub for those interested in both the residential and commercial markets. As noted in a recent piece published by Forbes, investors interested in everything from luxury living quarters to office space have found what they were looking for in this market — and opportunities continue to abound.
When you lose a major commercial tenant
Losing a major tenant can raise many concerns for a commercial property owner.
The possibility of suffering such a loss may be on the minds of many owners of retail space, such as mall owners, with the recent news of the Sears bankruptcy. The company is a major tenant of many different properties, with its stores leasing space throughout the country. So, how many of the company’s stores end up closing over the course of the bankruptcy could have big implications for retail property owners.
Real estate trends, urban sprawl and the law of supply and demand
In previous decades, the trend in residential real estate has simply been about leaving the cities and expanding the suburbs. That led to urban sprawl. America does tend to cater to this type of development since much of the country's real growth occurred after the invention of the automobile. The development of the infrastructure to support this means that Americans have easy access to more remote living situations and they tend to be very willing to drive -- and to invest in their cars -- to make this lifestyle possible.
In recent years, though, there has been a movement often called the "return to the cities." Young adults who grew up in the suburbs are now putting down their own roots in the cities that their parents left, looking for walkable neighborhoods, bars, restaurants, shopping options, jobs and much more. They have, to some degree, rejected their parents' willingness to drive and would rather live in the heart of these urban centers. They often bring gentrification with them, and they're changing the face of cities across the country.
Florida leads most of the country in mortgage fraud risk
Owning property is an original part of the American dream and it is now more attainable than ever. Florida, still experiencing a yearslong building boom, is seeing higher rates of home ownership and faster turnover on residential properties than ever before. Despite this, some people feel they need a little push to get a mortgage, and they can land in serious trouble.
Florida is one of the top states for instances of mortgage fraud, an increasingly common crime that involves mortgage applicants or brokers falsifying application data or the terms of home purchase loans. The Sunshine State trails only New York and New Jersey for fraud risk.
How can I effectively list my commercial property for sale?
Owning a commercial property comes with a lot of work. You have to collect rent, make repairs, find new tenants and so much more. When it becomes too much to handle/ you likely will consider selling the property. Or, you might decide to sell because the value of the property has increased during your tenure as owner. Either way, you likely want to know how you can effectively list the commercial property for sale.
One of the best things you can do to market a commercial property for sale is to put together a well-thought out list of prospective buyers. This list should include anyone who has expressed interest of late, local developers, other commercial property owners in the vicinity and even the previous owner of the building.
How to remove a lien from your home
Finding out that there is a lien on your home is never a good situation. You might not even know there has been a lien placed on your home until you go to sell the property. Once you discover a lien on your home, you need to work to remove it as soon as possible, especially if you want to sell the home sometime soon. Let's take a look at liens and how they can be removed from the title of your home in today's post.
A lien could very well be placed on your home incorrectly. Maybe someone has the name written down of a person who owes them money and you wind up with a lien placed against your home. This is common and can be rectified. If the party who placed the lien on your home won't remove it, you can file a Quiet Title petition. This moves the case to court where a judge will rule as to whether you don't own the money or do owe the money.
How to protect your property title with a warranty deed
Finding the right home can be a tough process. You have a list of features you want, an idea of what area you want to live in and a budget to stay within. When you are home shopping, you may end up compromising on some things. One thing you never want to compromise on is making sure you have a clear title on your property.
Many people protect their new home’s title through buying title insurance. When you sign up for title insurance, a company searches for possible claims or liens against your property’s title. The insurance company then remedies any issues and continues to insure your claim to the property.
