Many of our South Florida readers know from personal experience that real estate transactions often involve a multitude of documents. And, most people accept that this is just part of the process. But there are certain aspects of these documents that are much more important than some of the "boilerplate" legal language. For instance, what are "terms of sale"?
South Florida residents probably can't help but notice all of the condo towers that are popping up all over the place. With the real estate downturn of a few years back seemingly firmly in the rearview mirror, developers and investors are taking full advantage of the fact that the local real estate market is a hotspot.
Most people probably think that the largest areas of land for sale are located in the western parts of the United States. A recent real estate transaction in Florida transaction in Florida, however, may change that notion for many of our readers.
When a prospective buyer in South Florida is getting ready to make a real estate purchase, there are many different issues to confront. From negotiating terms of sale to investigating title insurance - and then actually attending the real estate closing - buyers have enough of their plates. But some of our readers probably know by now that buyers in the local area have another big problem: sellers are in control of the market right now.
Prospective buyers take note: the seller's market in South Florida may be here to stay. Reports continue to surface that not only are owners who are looking to make a real estate sale in a particular strong position these days, but they are also increasingly able to dictate the terms of sale. This can often lead to bidding wars between potential buyers, and can also result in a fully paid, cash buyout.