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Third District Denies Title Insurance Claim

Village Carver Phase I, LLC v. Fidelity Nat’l Title Ins. Co, 3D12-166 (Fla. 3d DCA 2013): Village Carver sought recovery under an owner’s policy of title insurance for losses associated with the demolition and redesign of a portion of an affordable housing project on which was unearthed an abandoned cemetery and human remains during the […]

Real Estate Broker Rebates Benefit Consumers

Brokerage commissions should be established by a written listing agreement between the seller and their listing broker. The commission split between listing broker and cooperating brokers in the event of a buyer’s default, or in the event of closing, should also be established by writings between the licensees involved. Additionally, whether commercial or luxury residential […]

Bill to Reduce the Sales Tax on Commercial Leases

Senate Bill 176 has been filed by Sen. Dorothy L. Hukill (R-Port Orange). If passed by the Florida Legislature and signed by Gov. Rick Scott, the Bill would reduce the sales tax on commercial leases. A similar bill (HB 11) was filed by Rep. Greg Steube (R-Sarasota) in the House in August.

Issue Created by Language Used in Deed Restrictions

Heleski v. Harrell, 2D12-4136 (Fla. 2d DCA 2013): The Heleskis began building a structure on their property without notifying or getting approval from the HOA. The structure is 24 feet by 24 feet and is separate from the Heleskis’ main house. The Heleskis’ neighbors complained to the HOA that the structure was in violation of […]

Keys to a Successful Luxury Real Estate Transaction: Part III

Part III: Closing If you take the time to be prepared, a closing should be simple and run smoothly. A closing is basically the buyer giving the seller their money and the seller giving the buyer the deed. While there is more involved than that, preparing with experienced Fort Lauderdale luxury real estate attorneys will help […]

The Transaction Broker Relationship

In Florida, residential real estate licensees may serve as a single agent, transaction broker, or maintain a no-representation status in a luxury real estate transaction. It is presumed that all licensees are acting as transaction brokers unless a single agent or no brokerage status is designated in writing to the customer. A transaction broker provides […]

Jumbo Mortgage Rate Gap Closes

On August 9, the average rate for a 30-year fixed-rate jumbo mortgage was 4.69% . The average rate for a 30-year fixed-rate conforming loan was 4.51 percent. The difference, 0.18 percent, is the closest the rates have been in five years. Jumbo mortgage rates are usually closer to a quarter percentage point higher than conforming […]

Types of Deeds in Real Estate Transactions

Deeds are used to convey title to real estate. An important aspect of a real estate transaction is the type of deed being used. The type of deed being used determines the warranties the grantee is receiving from the grantor. The three types of deeds used in Florida include general warranty deeds, special warranty deeds, […]

South Florida Commercial Property Leasing Update

The South Florida Business Journal reported that over 3.6 million square feet of leases in South Florida commercial properties are set to expire over the next 12 months. Included in the 3.6 million square feet is 1.91 million for retail, 1.15 million for office, and 484,225 for industrial. South Florida is home to approximately 40% […]

Keys to a Successful Luxury Real Estate Transaction: Part II

Part II: Be Prepared for Closing After luxury real estate attorneys have reviewed the contract, a checklist of items required for the sale can help prepare for closing. Some of the most important items on a checklist may include title information, conditions regarding the property, financing, closing documents, and dates. Closing does not have to […]