Buying or selling a home is often one of the most significant financial transactions that people may undertake in their lifetime. While most residential real estate transactions proceed smoothly, there are instances where disputes may arise, and litigation may be required to resolve these matters. Understanding when these disputes may occur can help buyers and sellers navigate potential pitfalls and minimize the risk of legal action. An experienced attorney can provide guidance on how to address concerns that may lead to litigation, including:

Breach of Contract

A common cause for litigation in residential real estate transactions is the violation of the terms of a purchase contract by either the buyer or the seller. This occurs when one party does not fulfill all of their obligations as detailed in the purchase agreement. Examples include failing to close on time, not disclosing material defects, or refusing to complete necessary repairs before closing.

In such cases, the non-breaching party may seek legal remedies such as specific performance (forcing the breaching party to fulfill their contractual obligations), monetary damages, or cancellation of the contract.

Purchasing any type of real estate often involves complex documentation, as well as the need to adhere to all legal rules and regulations regarding these transactions. A real estate attorney plays a vital role in various aspects of real estate transactions. Whether you are buying, selling, or investing in real estate, their legal guidance is crucial in ensuring a smooth and legally correct process. The following are some of the areas where a real estate attorney can play a critical role.

Contract Review and Drafting

Real estate transactions involve complex legal contracts and agreements. Your real estate attorney will review and draft these documents to protect your interests. Your attorney will analyze the terms and conditions, find potential risks, and negotiate any necessary amendments to secure favorable outcomes. Your attorney’s legal knowledge and experience will ensure that you understand your rights and obligations before entering into an agreement.

Due Diligence

Before purchasing a property, it is important to conduct thorough due diligence to assess its legal and financial status. A real estate attorney helps in this process by examining property titles, liens, easements, and other problems that could potentially prevent you from buying a property. They verify the property's compliance with zoning regulations, building codes, and environmental laws. This due diligence ensures that the buyer is aware of any potential issues or liabilities associated with the property.

Part of owning a business often involves entering into a commercial lease for the brick-and-mortar location of the company. However, when signing a commercial lease, it is important to pay close attention to the details and be on the lookout for any red flags that could result in legal and/or financial issues down the road. The following are some of those warning signs to watch for. To ensure you are fully protected, it is in every business owner’s best interest to consult with a Florida commercial real estate attorney before entering into any legal agreement.

Ambiguous or Vague Language

Be wary of lease agreements that contain ambiguous or vague language. Clarity is essential when it comes to defining the terms, responsibilities, and obligations of both parties involved. If any provisions are unclear, your attorney can insist that the property owner provide written clarification.

Excessive Lease Term

Long lease terms can be restrictive, especially for businesses that require flexibility or anticipate future growth. Signing a lease with an excessively long term may bind you to the space even if circumstances change or your business outgrows the location. Consider negotiating a shorter lease term or including provisions for early termination.

A real estate attorney plays a crucial role in various aspects of property transactions and disputes. Whether you're buying, selling, or dealing with complex legal matters related to real estate, having a knowledgeable attorney by your side can be invaluable. The following are some of the most common reasons why clients contact The Elliot Legal Group, P.A. for their real estate legal needs.

Legal Expertise

Florida real estate law is intricate and can be challenging to navigate without proper knowledge. A seasoned real estate attorney has a deep understanding of the legal complexities associated with property transactions. They can provide expert advice, review contracts, and ensure all legal requirements are met.

Contract Review

Buying or selling a property typically involves a multitude of contracts and legal documents. A real estate attorney can carefully review these documents, including purchase agreements, lease agreements, financing agreements, and closing documents, to ensure your rights and interests are protected. They can identify potential issues or unfavorable terms and negotiate on your behalf.

Many Florida homeowners live in residences that have oversight by homeowner associations (HOA). These organizations create and enforce rules that all the residents are required to follow, as well as oversee the maintenance and repair of all common areas of the community. Incurred expenses are paid through fees residents are required to pay. Under Florida law, if a resident fails or refuses to pay these fees, the HOA has the power to foreclose on the resident’s property – even if they are current in their mortgage or own their home outright.

What Is an HOA?

HOAs are usually found in condominium complexes, subdivisions, mobile home communities, and other types of communities where there are common areas shared by all residents. When an individual purchases a home, they are required to become a member of the HOA and abide by all the rules it has in place. These rules are decided on by a board of directors. The board is comprised of residents who are elected by other residents. In addition to setting the rules, the board can also penalize residents who fail to abide by the rules. These penalties can include fines, restriction of privileges, or even lawsuits.

Member Fees

Members are also required to pay fees, either monthly or yearly, to share in the expense of the maintenance of the community, as well as any repairs that are needed. If a member fails to pay these fees, the board is allowed to pursue legal action, including foreclosing on the member’s property, however, there is a process the board must follow before taking the drastic step of petitioning for foreclosure.