My wife and I found a home we really liked on a private golf course. Unfortunately, after we moved in, we learned that bad drives off the tee hit our home or glanced off the roof, and golfers with bad shots looked for their lost golf balls in our backyard, spoiling our privacy. Also, tractors cutting the fairway grass at…
A lady bird deed or enhanced life estate deed is a way to transfer ownership of your home or other real estate to your intended beneficiaries without the expense of a trust or probate. During your life, this special type of deed allows you to sell or mortgage your...
Probate statutes in Florida determine what happens after someone dies. Probate statutes determine what happens to the property of people who die without estate plans. They establish a threshold for summary proceedings for smaller estates. The law gives creditors a...
Buying an investment house with a pool is an extra level of risk. If you are the landlord, please make sure your insurance policy specifically covers the risk if someone is hurt using the pool. Yes, you can include language in the lease placing the liability on the...
At closing, each of the seller and buyer/borrower are provided with a closing statement detailing the credits owed or debits due, and of course the net amount due seller or owed by buyer/borrower. This statement can be difficult to follow. It is your money, so don't...
In my legal career, I have prepared and reviewed thousands of residential real estate contracts. They follow a typical pattern, appliances and sometimes furniture are included in the sale, the buyer posts a deposit and pays cash or obtains a loan for the difference. ...
Especially for commercial closings, you should discuss with your tax advisor the best way to allocate the purchase price for income tax purposes. What percentage to allocate to the land, building, goodwill, covenant not to compete, etc. Be aware, it does matter, as...
Our firm recently had a client come to us after spending $80,000.00 to buy a home at a foreclosure sale, plus investing another $200,000.00 into the home to fix it up. Unfortunately, the client was being foreclosed by the first mortgage holder and did not understand...
Closings should be transparent to you, as the buyer or seller. We make sure that you are updated throughout the closing process. Better to give you too much information that to have a "surprise" at the end. Real estate surprises are typically not good. if you have...
I recently met with a client interested in purchasing an investment condominium. At a list price of $295,000.00 and rent of $1,900.00 per month, even with twenty percent down, the excepted was a negative $7,000.00 per year. We did not even factor in any money for...