Real Estate in Florida

When you are dealing with real estate in Florida, it will be beneficial to you to understand a few of the laws and procedures that are a part of the process. These can include selling a home with an agent, purchase agreements, and legal titles.

Selling a home with a real estate agent

If you are going to be selling real estate in Florida, then it is best to recruit a real estate agent to help you out. In the state of Florida, real estate agents are held by law to fulfill certain duties to their clients. These duties will be noted in a listing agreement along with other duties include: dealing honestly and fairly, being loyal, confidentiality, obedience, disclosure, accounting, skill, care, diligence, and presenting information in a timely manner. State law also requires you to acknowledge apparent defects and material defects such as: property damage, malfunctions of major systems, and any environmental hazards that affect the home. Also, due to the Residential Lead-Based Paint Hazard Reduction Act of 1992, sellers must disclose any possible issues concerning a possible problem with lead.

Purchase agreements

Purchase agreements are a major part of real estate in Florida. A purchase agreement will be written up by a serious buyer or the attorney of a serious buyer. This is basically a written offer to purchase your home. It is also known as a sales agreement. You won’t have very long to make up your mind regarding whether or not you are willing to except their offer. If you don’t accept their offer, you can propose a counter offer. In this counter proposal, you will lay out your terms which may include: higher purchase price, higher deposit, giving the buyer less time to remove contingencies, excluding specific items from the sale, a request for more time to vacate the home, a contingency clause that requires your attorney to approve the contract, and finally, a liquidated damages clause that allots you a certain amount of money from the buyer if at any time they back out of the deal.

Legal Title Issues

It is important to contact a lawyer when you deal in real estate in Florida. One of the issues that may come up is implied easement. This is when a person grants land that has no accessible right of way except over his or her land. In cases such as this, right of way is presumed to have been reserved or granted.

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