People wanting to buy a home in Florida should make sure that the home they are considering receives an independent inspection before it is purchased. Inspections conducted by professionals can ensure the buyer is not saddled with a home that requires extensive repairs.
When Florida residents plan to purchase homes, they will have their down payments held in escrow until the transaction closes. Escrow involves holding down payments and handling the other money aspects of the transactions. Escrow companies or other independent parties receive the loan proceeds from the lenders and pay those funds and the down payments to the sellers. They also are responsible for transferring and recording the deeds of the property.
Landowners in Florida may have heard of "eminent domain," they but might not be familiar with the intricacies of the concept and the legal issues that surround it. Eminent domain means that the government has a right to take the land of a private citizen for public benefit. The government must pay the landowner fairly for the land. In practice, however, eminent domain is rarely this straightforward.
Florida residents who are considering buying a house may be interested to know that factors such as the possibility of higher interest rates in 2017 and the warmest weather in decades contributed to the increase in home sales in February. According to the National Association of Realtors, the monthly index of signed sales contracts for existing home increased 5.5 percent for February, a 2.6 percent jump from the February 2016 figure.
Commercial real estate sellers in Florida who assume they can rely on their buyers' real estate brokers or attorneys for help with their transactions may be better off hiring their own representation. While many lawyers that represent buyers in residential real estate transactions often assist sellers with various closing documents, it is more beneficial for sellers to hire their own attorneys that can help protect their best interests during each step of the selling process.