Purchase & Sale Agreements
Foreclosures
Short Sales
Land Trusts
Landlord/Tenant Lease s & Evictions
Condominium/Homeowners Association Documents
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PURCHASE AND SALE AGREEMENTS |
Contracts are the manifestation of the intent of two or more parties to enter into an agreement for the purpose of providing goods, services, money, or other things of value, known as consideration in exchange for things or services of similar value or of value to the parties. Our firm provides the proper guidance for our clients who wish to enter into contractual agreements and obtain the protection necessary to achieve their goals and results with no more risk than what was contemplated.
Foreclosures are a common type of lawsuit in Florida and have become even more prevalent with the changes in the real estate market. Foreclosures arise based on a lender's security interest in a property. This interest is called a mortgage and is recorded in the public records of the county in which the property located. When a property owner fails to make payments on the home loan, the lender institutes a FORECLOSURE action to re-take possession of the property and can involve auctioning off the property and using the proceeds to recover their investment. If your property is not sold or the purchase is not enough to cover the lender's loan, a deficiency judgment could be pursued against a property owner. This can seriously impact a person's credit and impair their ability to purchase another home.
A "Short Sale" or "negotiated settlement" or "short pay" occurs when a Lender agrees to accept less than the amount owed to payoff a loan as an alternative to foreclosure. If the property is worth less than the amount owed on the loan, then even if the Lender forecloses and takes back the property, they know they are going to take a loss. We can often convince a Lender that they will "do better" if they take less than what is owed now rather than taking the property back by foreclosure and trying to sell it later. The Short Sale negotiation process is a lengthy one. It may take several weeks or more likely several months to get an approval. Many Lenders have several layers of bureaucracy, insures, and investors that we will have to maneuver through in order to get a Short Sale approved. So it is important to be patient during this long process.
A Land Trust an agreement whereby one party (the trustee) agrees to hold ownership of a piece of real property for the benefit of another party (the beneficiary). Land trusts are used by nonprofit organizations to hold conservation easements, by corporations and investment groups to compile large tracts of land, and by individuals to keep their real estate ownership private, avoid probate and provide several other benefits. Corporations sometimes set up land trusts when they want to compile large tracts of land without arousing suspicion or alerting people to their plans (which would cause the asking price to rise). For example, the land for Walt Disney World near Orlando Florida was put together by using many land trusts to buy smaller tracts of land. Individuals use land trusts mainly for privacy and to avoid probate. No one knows what one's bank balance or stock investments are, yet anyone with an internet connection can look up a person's real estate holdings. A person who has an auto accident or a doctor who accidentally injures a patient is a much better target for a lawsuit if he or she owns real estate investments. So some investors buy their properties in land trusts so their name does not appear in the public records. The land trust also allows the property to immediately pass to their heirs at the moment of death, rather than go through a long probate process.
| LANDLORD/TENANT
LEASES & EVICTIONS |
Not everyone owns their home. In the ever prevalent market of real estate investment, many new defacto landlords have arisen, as have tenants who are either new to our area or who have not had the fortune of yet owning their own home. Our firm helps both landlords and tenants by guiding our clients through properly formatted lease agreements and if necessary, provide eviction or eviction defense.
| CONDOMINIUM &
HOMEOWNERS ASSOCIATION DOCUMENTS |
Our firm offers services to the owners and management companies governing pre-construction and existing condominium projects and homeowner associations. These documents include, but are not limited to incorporation, by-laws, rules & regulations, and other required documentation needed to satisfy state and local requirements. We will work with our clients' accountants, architect and construction management teams in order to provide our clients with full package ready for immediate state submission as required, implementation and dissemination to end unit/homeowners.
