Buying and Selling your Home
Moving forward in the purchase or sale of real estate with the advice of an attorney can save you significant expenses and problems down the road. The most important step is making sure that the purchase contract adequately reflects the buyer’s and seller’s intentions. This document will cover essentials such as the type of title and warranties being transferred, the responsibility for repairs after a property inspection, the timeline and costs for closing, and boundary survey matters. The experienced real estate lawyers at the Dean Law Firm can guide Ocala residents and others through the process of buying and selling a home. We can work hard to protect your interests and your future.Buying and Selling a Florida Home
Many sellers and buyers, concerned with saving money, conclude that they do not really need an attorney. However, the costs associated with retaining an attorney for the purchase or sale of your home are far outweighed by the benefits. For example, an attorney can help make sure there are no title defects related to your property and help you secure personal title insurance. If you do not retain an experienced attorney, and there is a title defect down the road, you would need to file a quiet title action. This can cost over $25,000 in Florida and take years to conclude.
Or, similarly, if you buy a house and are not represented, you may not discover how many dangerous property conditions exist on the property. You may need to make substantial repairs out of pocket or else face liability for these conditions later.
Under Florida law, sellers are required to reveal any problems that could cause a buyer to reconsider his or her purchase. These are any facts or conditions that have a substantial impact on the value of the property or its desirability, which are not easily perceived by potential buyers. There is a standard form available, and among the topics it covers are whether there are actual or potential claims, whether a property is subject to condominium rules, whether there are sinkholes, whether disputes have arisen about the boundaries, and whether there are environmental hazards or infestations. You will also need to give the buyer a property tax disclosure.
A qualified attorney can help make sure that your property disclosures are documented in writing so that the buyer cannot later claim you failed to tell him or her. For example, if you are a seller who knows of a problem with the foundation that makes the house unstable, and you make a passing comment about it instead of providing a written disclosure, the buyer could sue you later for failure to disclose. A real estate attorney can make sure that your contract spells out the obligations of both seller and buyer to make sure there are no surprises related to the property and no continuing responsibility placed on a seller after concluding the sale.Seek Legal Guidance in Ocala for a Property Transaction
Individuals who are contemplating a real estate transaction in the Ocala area can consult the experienced property attorneys at the Dean Law Firm. We possess the judgment and skill to help your transaction go smoothly. For a consultation, contact us at 352-387-8700 or via our online form. We represent sellers and buyers in Crystal River and other communities throughout Marion, Lake, Levy, Sumter, and Citrus Counties.