Navigating Sales Agreements And Closings In Florida
Last updated on October 11, 2024
Florida real estate transactions can be complex, as Florida is a constant destination for people moving from other states, and the real estate market can be competitive. This is especially true near the coasts, where waterfront property is at a premium. Florida is also one of the most populous states in the country, with more than 22 million people, making transactions common – and increasing the competition between buyers.
When it comes to sales agreements and closings in Hollywood, Florida, it can help to have an experienced lawyer on your side. Here at Jeffrey Feinberg, P.A., we have decades of experience. Our founding attorney, Jeffrey Feinberg, has handled both commercial and residential transactions since 1979. He is also board-certified in real estate by the Florida Bar. Our firm brings the knowledgeable and practical approach needed to help streamline the process and accomplish your goals.
Florida Real Estate Sales Agreement Laws
Under Florida law, the sales agreement or contract must be drafted correctly. Some of the key components include the purchase price, identification of the seller and the buyer, a description of the property, detailed terms and conditions, mandatory disclosures, and, of course, the signatures of the proper parties.
When it comes to disclosures, Florida mandates that a seller disclose whether the house has lead-based paint, is in a Homeowners’ Association (HOA) and is in a flood zone.
The paperwork should also specify who is responsible for which costs. For instance, the parties may split the closing costs, one party may pay on their own, or the homeowner may decide to roll those costs into their mortgage loan.
You may also want to carry out a title search or consider purchasing title insurance to protect you from any potential defects. A title search can check for things like a lien on the property or issues with multiple property owners.
Setting Up Your Appointment
All of this can be very complex, and it’s important to get the details right. Our experience is invaluable, so call 954-417-8434 today or use the online contact form to set up your initial consultation.