Some of our South Florida readers may believe that pouring over contracts in search of unfavorable terms is something that only takes place between businesses in corporate boardrooms. Sometimes, that is correct, but the reality is that even those individuals and families who are engaging in a residential real estate sale need to be aware of what a real estate contract says and how those terms could come into play in a real estate dispute.
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?
Not all real estate disputes originate from a purchase agreement gone bad. In fact, probably the most common disputes arise due to disagreements over a rental agreement, commonly referred to in real estate law as a "lease."
Many real estate transactions in South Florida go smoothly, with the buyer and seller working together to push the deal toward a successful closing. People who find themselves a party to this type of transaction can consider themselves lucky, because not all real estate transactions go from start to finish without a dispute popping up.
Many people enjoy the process of scouring South Florida to find the perfect home for their families. It can be exciting to see the different floorplans and amenities that the wide variety of homes that are for sale on the local market can offer. However, there are others who take a different approach when they are in the market for a new home: they have it built according to their own designs.
Hopefully our South Florida readers get along quite well with their neighbors, and the prospect of a property dispute is nonexistent. Unfortunately, however, there are many property owners who are not so lucky, and they become involved in a real estate dispute when a neighbor does something on their land that causes an encroachment on a neighboring piece of property.
Anyone who has even been a party to a contract probably knows how important it is to make sure that the actual words in the contract comport with the agreement that was made. This is true in all different types of contracts, but the importance can be even higher in a contract involving real estate. Whether it is a lease or a purchasing agreement, a contract that involves unfavorable terms can lead to a real estate dispute down the road.
In Parts I and II of this multi-part series, we took a look at a number of issues that can lead to a real estate dispute between a buyer and a seller. Here in Part III, we will wrap up this series by examining a few other common causes of residential real estate disputes.
In Part I of this multi-part series, we began to examine some of the most common causes of real estate disputes. Part I included the authority to sell, the legal description of the property in question and zoning issues. Here, in Part II, we will look at a few more common problems in real estate transactions.
No one enters into a real estate contract thinking that something might get messed up during the transaction. Many of our South Florida readers have been involved in real estate transactions that have gone smoothly, with no unexpected situations stalling the deal. However, that obviously does not occur in every transaction. In some cases, a problem might arise that leads to a serious real estate dispute. In Part I of a multi-part series, we will take a look at some of the most common causes of these disputes.