Case Study: My Experience With Properties



Essentials of Buying a House in Florida Different states have their own laws and practices when it comes to purchasing a house. In Florida, you need to know the following essentials: Working with an Agent When buying a house, condo, or any other home in Florida, find a highly regarded real estate agent who can help you find properties and tackle all the convoluted procedures involved in the transaction. A real estate agent offers a whole array of advantages, from community market knowledge to negotiating prowess and more. And the best news is, they won’t cost you anything. The seller generally covers the entire real estate commission (around 5% to 6% of the house sale price, to be divided between your agent and the seller’s).
What You Should Know About Houses This Year
Seller Disclosure
What Has Changed Recently With Sales?
State law in Florida states that sellers should disclose any fact or condition pertaining to their property that makes a considerable impact on the value of such property and which others cannot typically take notice of. Seller disclosures are extremely important for you as a buyer, because simply just looking at a property will not be enough to reveal what issues its owner has encountered with it. On top of that, sellers of houses constructed prior to 1978 should comply with federal Title X disclosures that pertain to lead-based paint and hazards. Home Inspections However, buyers should not solely rely on the seller’s disclosures, but instead hire an independent home inspector to verify the content of the seller’s disclosure. A lot of buyers base their offers on a satisfactory inspection report to ensure the absence of material defects and to identify the presence of such issues as termites and other pests, erosion, electrical, plumbing and HVAC irregularities, and so on. Real Estate Purchase Agreements A purchase agreement is a legal document which details each enforceable material term and condition surrounding your real estate transaction. It must be signed by both the buyer and the seller, and include an offer to buy or sell, an acceptance of the offer, the sale price, and an accurate and sufficient property description. Title Issues A buyer needs to get a title search from a title company before they purchase a home. The title company reviews public records and other sources that may indicate any liens, easements or any other encumbrances or title restrictions affecting the property. Also consider buying a title insurance policy to shield the title from adverse third-party claims or any issues on the title that may have been skipped by the title search. Working With a Lawyer Finally, as opposed to other states, Florida does not require home buyers to involve a lawyer in the transaction. Yet even if it’s not required, you may just have to get one at a particular point in the process–for example, if you are buying a property in a planned unit development that has complicated CC&Rs, or if you are buying a house jointly with other parties and need help preparing your co-buyer agreement.