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.
Those who are interested in purchasing property in Fort Lauderdale are wise to tread carefully when putting together real estate documents. Although the exact provisions to include when drafting real estate contracts will vary with each transaction, four basic tips that can help to better ensure success include use of the following provisions:
- Introduction. The beginning of the document should include basic information like the parties to the transaction and the proposed date of the deal.
- Terms. This portion of the real estate document should include definitions to legal terms used throughout the agreement. Examples could include terms like estate and fixtures.
- Deadlines. The agreement will often also include specific deadlines. This could include the deadline for the proposed buyer to provide the initial deposit as well as any additional deposits required during the transaction.
- Signature blocks. The deal generally cannot go through unless the parties agree to the proposed transaction in writing. This is generally signified through the use of signatures by those involved in the transaction.
It is important to note that a failure to include or misword even a single provision with real estate documents can result in disaster. Savvy real estate buyers can mitigate this risk through the use of legal counsel experienced in these matters in the Fort Lauderdale area.
