Selling Your House In Florida?
After a period in flux, the Florida real estate market is beginning to stabilize as of this writing. In general, the market is underperforming, but it is still growing. In January 2024, the average price of a home was around $404,000, which is a 4.5 percent rise year-on-year. As one might imagine, the uptick in the health of Florida’s real estate market has made more homeowners consider the virtues of selling up – and if you have decided to do so as well, it is in your best interests to know every last required detail of a potential sale. An attorney can help.
Get The Right Realtor
The first thing that many sellers think of when they decide to put their home on the market is to make sure that they have a realtor they can trust. Realtors have very specific duties and ethical obligations, and most perform them flawlessly – though it is important to keep in mind that realtors are not attorneys. Florida jurisprudence clarifies that if a realtor gives legal advice or prepares documents that deal with one’s legal rights, they are engaging in the unauthorized practice of law and can be sanctioned.
Along with a trustworthy realtor comes the knowledge of a trustworthy real estate contract. In Florida, most transactions use what is known as a FAR/BAR contract, though they can either be “as is” or “non-as is.” What this means is that with the former, if any defects are found in the home, and the seller refuses to address them, the buyer has two options: they can either back out within 15 days, or they can agree to buy the property “as is.” With the latter, the seller is required to make at least a portion of any necessary repairs before the property can be sold.
Must Have Marketable Title
The other crucial box that must be checked before selling a Florida home is that of ‘marketable’ title. Title is basically a legal statement of ownership, and a property’s title legally must be marketable in order for that property to be sold. Marketable means that the title is free from any “clouds” – that is, any potential issues with regard to ownership or any potential lawsuits. Many people simply assume their title to their property is marketable, but this is often incorrect.
A qualified realtor or title agent can perform the proper investigation as to the title of your property, either to verify that it is marketable or to get information on how to make it so. Any judgments or liens against the property, easements, or boundary disputes can cloud title enough to make a sale impossible, and must be cleared up in order for the sale to go forward. Keep in mind that these issues cannot simply be disclosed in an “as is” contract; they must be legally put to rest. An attorney can help.
Contact A Tampa Real Estate Attorney
If you are looking to sell your home in Florida, it is important to remember to have the right professionals around you to help. A Tampa real estate attorney from the Seward Law Office can guide you through the process and make sure that all the requirements for a valid sale are met. Contact our office today to schedule a consultation.
Source:
newsweek.com/florida-housing-market-trouble-1874962
