Typically, in the state of Florida, the seller is responsible for the documentary stamp tax on the deed. In most counties in Florida, they’re responsible for title insurance and the real estate brokerage fee; however, none of those are actual laws, but rather, customs that have been followed over a long period of time. All of these items can be negotiated at the time of contract.

At the closing, the buyer and the seller will each sign their documents. The seller will sign a deed, which actually transfers the property to the buyer. Typically, the buyer will sign a mortgage if they’re borrowing money to buy the property. Then the closing agent will distribute the funds to the people that are due. The parties will exchange keys. Most of the time it’s a pleasant process, but sometimes it’s not so pleasant.

In Florida a seller has an absolutely duty to disclose all known facts and materially effective value to property that are not retally observable by the buyer. A seller cannot stick their head in the sand and answer, “Don’t know,” when they know for a fact that there is a problem with their property. Even if the house is sold as is, the seller still that obligation to disclose any defects to you. I would recommend consulting with an experienced Florida real estate attorney if you think that the seller has lied or omitted an answer on a defect in the property.

Depending on how the contract was drafted, the seller may seek to retain the deposit as liquidated damages. Or the buyer may receive a return of the deposit if there was a contingency in the contract that allowed the buyer not to close. You need to consult a professional real estate attorney in Florida to know what your rights are under the contract.

It’s important to do a title search any time you buy a piece of real estate. A title search will show you a history of the property. It will show you if there’s any liens on the property or unpaid mortgages or any problems that could affect your title to the property. Title insurance is commonly seen in most transactions in Florida. Anything involving financing, the bank is going to require title insurance. Title insurance is exactly what it sounds like. It insures that no one has a claim to the title of your home. It’s insured up to the full purchase price and it grants you protection from anyone coming back to say they have a claim on the property.

A lot goes into selecting a real estate agent. It’s important to examine their experience, their past track record, look at their reviews online. A good real estate agent will often refer a buyer out to legal counsel also, to determine what their legal needs are, and in conjunction with the attorney, can work to promote your best interests.

Typically it’s best to discover them before closing. But of course there are situations where you may not discover something till after the closing. As soon as something like that comes to your attention it’s important to contact an attorney to see what your legal rights are. In Florida the seller’s obligated to disclose all known defects that materially effect the value of the property. So if the seller was unaware of the mold or the lead-based paint then you probably don’t have any recourse against the seller.

In Florida, a typical foreclosure can take anywhere from six months to two years. It depends on the complexity of the circumstances surrounding the foreclosure and whether or not you retain an attorney to assist in the foreclosure process.

It’s a good idea, always, to have an attorney represent your interests, when you purchase real property, especially in a situation where you’re buying a REO, or real estate owned property from a bank. The reason is, most banks typically have an addendum that overrides the terms of the contract, that are, of course, heavily slanted in your favor. It’s good to have an attorney be able to explain this document to you, and know what your rights are, because it’s not typical contract that we use in Florida.

It depends. If you’re transferring the property to wholly owned subsidiary and literally nothing is changing in terms of the beneficial interest of the property, meaning you will still be the person that owns it after the transfer, then there is likely an exemption that you do not have to pay the documentary stamp tax on the deed.