Every year seems to bring about a new dynamic in the real estate market, particularly in South Florida. Inventory will rise or fall, as listing and purchasing prices and a wide range of other factors that can play a role in the overall health of any given real estate market. Real estate disputes can also pop up, whether they are between buyers and sellers, landlords and tenants, or property owners and zoning officials. So, what were some of the most common real estate problems that were addressed in 2015?
Well, there are those who continue to have problems with mortgages, potentially resulting in foreclosure litigation. There is no doubt that many people are seeing the benefits of a slowly recovering economy, but there are still many who are still struggling to make their monthly mortgage payment. For those South Florida residents who face this type of real estate dispute, communicating with the lender is the first step.
Other property owners may be facing problems with a homeowners association, sometimes called a community association. Whether or not a property owner is a member of one of these associations will depend on where the property is located, but these associations often have dues to be paid and requirements to be met. When the two sides don't agree, a real estate dispute could be the result.
Many of our South Florida readers no doubt encountered their own unique real estate problems in 2015. Hopefully those issues have been resolved and the new year got off to the right start. But, if not, getting more information about the potential avenues to address the disputes can be a good first step for finding resolution.
Source: The Herald, "Real estate Q&A: Lessons learned in 2015," Gary M. Singer, Jan. 7, 2016