When a homebuyer or seller backs out of a sale contract, the consequences can vary based on the contract terms and the specific circumstances of the withdrawal. Real estate contracts are legally binding, so backing out can have several legal and financial...
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Real Estate Transactions
What if a seller won’t return someone’s earnest money?
Selling a home is a process fraught with risk. Not every buyer necessarily comes to the table with a good faith intention to complete a transaction. A transaction that falls through could lead to relisting the property and other expensive challenges for the seller....
What’s a quiet title action?
A quiet title, or an action of quiet title, is a lawsuit or circuit court action filed to confirm the title to a property. These court actions are common in cases where there is confusion about the integrity and details of a title and the lawsuit is generally intended...
Preparing for a property inspection
Before selling a property, an inspection may be necessary. Oftentimes, potential buyers will use a contingency clause stipulating that they are not required to go through with the purchase unless the property passes inspection. That inspection can also have an impact...
Is a real estate agent ever liable for latent property defects?
Real estate agents help people list their properties for sale and also guide those seeking to make a purchase through the home search and offer process. Agents have a lot of responsibility and have to provide support to those going through the sometimes emotional...
Why buyers may need a post-closing occupancy agreement
Those purchasing real property in Florida are typically eager to get the keys and take possession of their new homes. Those first days of cleaning and customizing a space while moving in personal possessions are what turn a specific property into someone's home....
Considerations for changing real estate contract wording
Florida's real estate market is dynamic. Buying and selling properties necessitates a detailed understanding of the legalities involves. Everyone should understand the contracts at issue in transactions because these contracts can have considerable impacts on the...
2 times agents can help buyers handle property defects
For most Florida real estate agents, the majority of their obligations to a client end at the closing table. Their role is to guide people during the home search process, help them evaluate counter offers and put together paperwork that adequately protects their...
Title Tips: Time is of the Essence
Staying on top of the deadlines in a sale and purchase contract is essential. Buyers and Sellers need to be aware of upcoming deadlines and be prepared to act on time, whether it’s accepting an offer, making a deposit, or closing. A missed deadline can have extreme...
Title Tip: Direct Payment of Realtor Commissions
As you well know, if your broker allows it, closing agents can pay you your share of the commission directly at closing and remit the remainder and fees to your broker. However, this was not always the case. Prior to 1999, all commissions had to be paid directly to...