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Purchasing a home is an exciting time. You may finally be able to build equity into an asset, escape from paying overly high rent, and make a place truly your own. However, with this purchase comes new responsibilities. You will be solely in charge of all maintenance and remaining in compliance with local laws and ordinances. For this reason and more, it is essential to understand a potential property’s current legal status and structural integrity before entering into a purchase or sale agreement. If you are ready to invest in your future, a credible real estate attorney is here to help.
A Fort Lauderdale residential real estate lawyer can explain the obligations of sellers, enact real estate contracts that protect your legal rights, and much more. Call All Florida Real Estate Lawyers today to learn how we can help and to get started on your journey.
A crucial concept to remember in any residential real estate transaction is that a seller can only offer property to a buyer if they have the authority to sell it. The document that grants this authority is known as the title. Having a title that is free and clear from hindrances is a guarantee that no future party can claim the asset. Possible hindrances you might encounter include:
A hard-working Fort Lauderdale residential real estate attorney can perform a full title search. If the search comes back clean, the buyer can rest easy, and the transaction can move forward. This search will also serve as title insurance if a person or entity attempts to make an ownership claim in the future.
Further, having a qualified attorney from All Florida Real Estate Lawyers by your side would help negotiate a better sale price and leave no doubt about the rights and obligations of all parties.
If a dispute arises over the sale or transfer of the property, the transaction could be significantly delayed or terminated. Certain disagreements could even lead to civil action, such as allegations of breach of contract if a buyer fails to provide payment or if a seller does not act as expected concerning the sale.
One common incident that may lead to litigation is a failure on the part of the seller to disclose a defect in the property. According to Florida Statute § 475.278, sellers have an obligation under the law to inform a buyer of all known facts that may materially affect the asset’s value. Failing to do so could leave the seller personally liable for all resulting reductions in worth.
A committed Fort Lauderdale attorney can protect the rights of a buyer before, during, and after a residential real estate purchase closing date. This could include representing their interests during settlement talks and defending their rights after an apparent violation of state real estate law.
Purchasing a home or land can serve as the financial backbone of your family for decades to come. It can also provide an excellent location to build memories. Because of the importance of this transaction, it is essential to seek as much information and protection as possible.
Allowing a professional Fort Lauderdale residential real estate lawyer to take the lead is a great option. They can perform a thorough title search to determine the land’s current status, form comprehensive sale agreements, and protect your rights in the event of a future dispute. Contact the office of All Florida Real Estate Lawyers today to get started with an initial consultation.
