Florida is known for its waterfront property. Those who are interested in real estate that includes river front property may notice that, over time, the river’s bed moves. This likely triggers questions about property rights. Namely, when the river’s bed moves, do property rights change? This is one question to discuss with an attorney before purchasing real estate in Florida that contains riverfront property.
City planners and developers often want the same thing … except when they do not. While both parties may want to improve the city, it is not uncommon for the two to disagree on what will achieve this goal. A recent case provides an example. The case involves a group of city planners that took issue with a developer that was attempting to develop a senior living project. The project was set to take 0.6 acres of prime downtown property and convert it into a unique project that included living spaces, personalized programs and vibrant amenities for senior citizens.
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.
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.
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.