It’s important that if you’re using an in-house title insurance company, which essentially means that the real estate brokerage or the agent has an ownership interest in the title agency, it’s important to get a second opinion. A real estate attorney has a fiduciary duty to act in your best interests. In those situations, the other parties may or may not have a duty to act in your best interest, so it’s always a good idea to get a separate quote if your agent is encouraging you to use their in-house title company.

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.

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.

If the real estate agent is aware of a defect on a property, it’s their duty to disclose that to their client. Similar to a seller’s duty to disclose facts that materially affect the value of the property, the realtor is also held to that standard.

If the inspection is not satisfactory, it goes back to what are the terms of the contract say. In Florida, there is two commonly used contracts. One of which is an AS-IS contract. The AS-IS contract usually give a period of days, anywhere from three to 15 days, for the buyer to inspect the property. Essentially, under that contract, the buyer can back out for any reason or no reason. However, if you’re using a different type of contract that doesn’t allow for the buyer to back out based on the inspections, then the seller may be able to hold the buyer to the contract and proceed towards closing.

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.