Answer: It depends! Section 18F-Time is a commonly misinterpreted section of the FAR BAR Contract. Calendar dates are used to compute the critical dates of the contract. If a deadline falls on a calendar date that is not a weekend or national holiday, the deadline expires at the end of that calendar date, which is […]
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Seven Tips to Save Money on Closing Costs
There are many costs associated with the purchase, or re-finance, of a property. These are known as closing costs. Closing costs can include an application, loan origination, appraisal, home inspection, credit report, title insurance, attorney costs, appraisal, and/or survey. These costs must be paid before the transaction is complete, and they are often paid at […]
Read MoreControlling Uncontrollable Expenses
It has been some time since I last wrote about operating expenses in leases. Tenants like certainty in budgeting and, because of the way most leases are drafted, landlords often have flexibility to change and increase operating expenses each year. I have previously offered suggestions on how tenants can limit some of this uncertainty and […]
Read MoreNew Far/Bar Rider for Miami-Dade County Residential Property
Effective June, 2019, The FAR/BAR Contract documents now include a new Rider: CC. Miami-Dade County Special Taxing District Disclosure. Rider “CC.” should be used with contracts for the sale of certain residential property in Miami-Dade County. The rider stems from an amendment to Sec. 18-20.2 of the Miami-Dade County Code which requires that sellers […]
Read MoreChallenging the New Development Next Door
In most county and city governments, the land use process is one that will allow for some basic decisions to be made at staff levels, with higher levels of review in the form of public hearings required for larger scale projects, or proposals that deviate too far from the established standards for a given development. […]
Read MoreCan You Lose Your Escrow Deposit Because Your Buyer’s Agent or Lender is Not Diligent?
In 2017, the Florida Bar and Florida Realtors made significant changes to the “As-Is” Residential Contract for Purchase and Sale and the FAR/BAR Standard Contract. One of the biggest and more controversial of the changes was the replacement of the phrase “loan commitment” with “loan approval,” and the duties such change imposed on any prospective […]
Read MoreIs Your Real Estate Agent On Your Side?
Buyers and Sellers of Florida real estate, particularly residential real estate, generally assume that their brokers and agents are working exclusively for them. And though I have no doubt that the vast majority of brokers are ethical, honest and hardworking, the fact is that Florida law provides that all broker relationships are presumed to be […]
Read MoreWhat Should a Buyer Do After They Have Purchased Their Dream Home?
Completing a home purchase is an exciting moment for everyone who worked on the real estate transaction. The seller has sold a property and perhaps made a nice profit from the sale. The real estate agents that worked hard on the transaction for several months are finally going to get paid for their services. The […]
Read MoreSimple Protections for Buyers in Commercial Real Estate Contract Negotiations
When entering into a contract to purchase commercial real estate, experienced investors and developers generally understand that dozens of things could go wrong before the closing date that would prevent the closing from happening or could make the acquisition less than attractive, giving the buyer pause as to whether to close at all. As such, […]
Read MoreCommercial Loan Document Review – Time Well Spent!
The day of closing arrives. You just wired the final amounts due and hope you can get to the notary or closing office on time. Getting to closing and getting the lender approval was no small task and the finish line lies just ahead. A pile of documents awaits your signature. The transfer of title […]
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