Category: Real Estate

It happens more often than you would believe – after an exhaustive search spanning all of South Florida, a homebuyer finally finds the “perfect” place to call home. It has an open floor plan, the correct number of bedrooms – including a spacious master with an en suite bathroom – and a beautiful kitchen. It’s even located on the picturesque beaches of Fort Lauderdale. What the seller fails to disclose, however, is that the home was remodeled without the required building/construction permits – potentially leaving the new owner(s) with a costly and unpleasant problem associated with unpermitted work.

What is “unpermitted” work?

Although this term seems largely self-explanatory, it tends to generate a lot of confusion. This is because many people believe it only pertains to structural work, electrical work or plumbing that is done without permission.

Because residential construction is subject to so many different rules, permits may be required for seemingly minor projects, as well. Accordingly, the term “unpermitted work,” is used to describe any addition or improvement made without the required permits.

Many individuals, including licensed and unlicensed contractors, do work without pulling permits to save time and money – hoping or believing that no one will find out. In many such cases, unpermitted work can remain undiscovered for years until another issue prompts some sort of inspection from the city/county. If that happens before the homeowner sells the property, it is his or her problem. On the other hand, if it happens after you buy the house, it could well become your headache.

The consequences of buying a home with unpermitted work

For example, let’s say you succumb to the temptation and decide to buy a dream house like the one we described above. Here’s what could happen:

• An inspector discovering the unpermitted work could force you to pull the permits in order to bring the work up to code (meaning you must pay for the permits and the work)
• The inspector could impose fines/penalties until the necessary work is completed

In either case, you could end up spending a whole lot of time and money. Fortunately, if this happens to you, you’re not out of options.

Pursuing legal recourse

What you probably don’t know is that you may be able to pursue legal recourse against the seller of the property. This is because Florida sellers are legally obligated to disclose unpermitted work at the time of the sale. If the seller fails to do so, you are free to file a lawsuit against them in state court. Moreover, you may also be entitled to recoup any attorneys’ fees or costs incurred in pursuing the case.

Ideally, you’ll be able to avoid litigation altogether. If you can verify that unpermitted work has been done prior to signing the purchase agreement, the seller may still be legally responsible for seeing that that proper permits are pulled and the work is completed before the property can be sold.

Another option is to have us include language in the purchase agreement specifying that the seller must address any unpermitted work by organizing the proper paperwork and scheduling relevant inspections, including the final inspection for a certificate of occupancy before closing.

For more information about unpermitted Florida real estate sales and related issues, please contact our qualified business and real estate attorneys through our website or by phone at (954) 334-1122.

If you have a mortgage on your home, your goal is to get it paid off. Refinancing your home loan could be beneficial for several reasons. You should also do your research and make sure you refinance at the best time, so you can get the maximum benefits. Here are some of the benefits of refinancing your home loan.

• The leading benefit is often a better mortgage rate. If interest rates have fallen since you took out the mortgage loan, you can refinance at a lower interest rate. You can benefit by refinancing at the current rates, or if your credit score has improved since you took out the initial loan, you may now qualify for a lower interest rate.
• You can lower your payment. If you refinance at a lower interest rate, your monthly payment will decrease. Also, if you refinance and you go with an adjustable-rate mortgage that has a lower rate than the current rate, your monthly payment will be lower.
• You can pay your home off faster. While most borrowers go with a 30-year term on their home loan, you can refinance for a shorter term, such as for 15 years. Also, a mortgage rate on a shorter-term loan is usually significantly lower than the rate on an extended loan. You may be able to refinance for a shorter term at a lower rate without increasing your monthly payment significantly if the interest rates have fallen.
• You can also use a mortgage refinance to borrow money. If you opt for a cash-out refinance, you can borrow from your home’s equity to get funds for any purpose you want. You would get a check at the closing, and those costs are added to the principal of your mortgage loan.
• A refinance can be used to build equity in your home faster. If you have reached financial stability that will allow you to slightly increase your monthly payment, you could switch to a mortgage for a shorter term. As an example, if you switch from a 30-year loan to a 15-year loan, you will save on interest and build equity in your home much more quickly.
• You can refinance to remove someone from the mortgage loan. As an example, if there has been a divorce then someone on the loan may need to be removed so they are no longer financially responsible. It can also be used to remove a co-signer’s name if they are no longer needed and want to be freed from the responsibility of the debt.
• Refinancing can also help you get rid of mortgage insurance that you are paying for yourself.  You could refinance after you have 20 percent equity in the home so you can get rid of that premium that is included in your mortgage loan interest rate.

If you are interested in refinancing your mortgage loan, or if you are going to buy residential property, you should speak with a residential real estate attorney who will make sure everything is in order and your best interests are taken into consideration. Call the real estate lawyers at Loshak Law PLLC today at (954) 334-1122 or send a message by e-mail to info@loshakleach.com to schedule a free consultation.

Buying a home not only takes a financial toll on many Americans, it may also take an emotional toll, as well. Two thousand Americans participated in a 2018 Homes.com survey. Approximately 40 percent of the participants ranked buying a home as the single most stressful experience in modern life. The survey also found that 44 percent of the participants felt “nervous” about purchasing a home, and that 20 percent weren’t confident about the process.

However, experts say that preparation can help alleviate much of this anxiety. With that in mind, the real estate lawyers here at Loshak Law PLLC are providing South Florida homebuyers with the following tips to help them prepare for the final walkthrough.

Remember why you’re doing the walkthrough

Since buying a home isn’t inexpensive (especially around Fort Lauderdale or anywhere in South Florida), you undoubtedly want everything to be perfect – or as perfect as it can be. So, you’ve probably had a home inspection done and asked the owner to rectify any problems identified by the inspector. The final walkthrough is your chance to ensure that the seller has had any repairs done as agreed, and to ensure that there haven’t been any other significant changes or problems since the last time you viewed the home. This is also your last chance to bring any relevant concerns based on your observations to the seller’s attention.

Having said that, many homebuyers, especially first-time homebuyers, confuse this step with a home inspection. The final walkthrough is not a home inspection and does not present an opportunity to initiate new negotiations for repairs. In other words, you can use this opportunity to see if anything has gone wrong since your last visit, and if it has, the amount of any necessary repairs can be deducted from the seller’s proceeds. But you can’t use it is a chance to say, “You must also fix this, this and this, or I won’t buy your house.”

What to bring

Never go to a final walkthrough empty handed. Here’s what you should bring:

• Your final contract. This document specifies everything that should be in the house when you buy it – such as appliances, fixtures and so forth. It also specifies what shouldn’t be left behind.
• Notepad. It may sound old fashioned, but a pen and paper are essential tools for your final walkthrough. Making note of any questions or concerns (in writing) will force you to pay attention to detail, reducing the chances that you’ll miss something important. You’ll also have a written record in case any disputes arise later.
• Phone. This is also an important tool. Use it to photograph the house and anything that seems different from your last visit. Again, this is useful documentation in the event of a dispute.
• Phone charger. Not only will this save you from the considerable embarrassment and aggravation of your phone “dying,” while you are taking photos, but it also makes it easy to test the electrical outlets throughout the house.
• Inspection summary. This list provides a handy reminder of everything that should have been done.

Oh, and don’t forget to bring your real estate agent along. Aside from the fact that it’s always good to have someone else along to make sure you don’t overlook anything, South Florida real estate agents typically have the knowledge and experience to address your questions and concerns.

What to do

It can be hard to keep track of everything you’re supposed to do during a final walkthrough, especially if you’ve never done one before. Don’t forget to:

• Verify that all of the items included in the home purchase are still in the house
• Verify that all of the repairs the seller agreed to after the home inspection have been completed
• Carefully check all kitchen and bathroom plumbing
• Check for any significant changes since your last visit
• If appliances are included in the purchase, ask about the warranties and request them if they are still in effect
• Ask about utilities (provider, turn-on dates, if the seller was up-to-date on payments and so forth)
• Do a close visual inspection of the exterior
• Look for evidence of pests (rodents, insects and so forth)

Finally, if you are buying a house in Miami-Dade, Broward, or Palm Beach, and you have legal questions or concerns about any aspect of your transaction – or if you have purchased a property and a dispute ensued, we are here to help. Contact the experienced real estate lawyers at Loshak Law PLLC for comprehensive guidance and representation today. Call us today at (954) 334-1122 to schedule your free consultation.

It’s no secret that buying a home is the single largest financial commitment that many of us will ever make. If you live in Florida and you’re thinking about taking the plunge – especially for the first time – you probably have lots of questions. How much do you need for a down payment? What’s the best way to secure a mortgage? Should you look for a home on your own or use an agent? Do you need a lawyer?

There’s no universal answer to most of these questions because each situation is different. Having said that, there is one stipulation that applies to all Florida homebuyers: under state law, you do not need a lawyer in order to purchase a home.

Even so, it is always wise to seek legal representation whenever you are involved in any type of real estate transaction. That way you can be sure you have a qualified advocate on your side.  The dedicated, experienced real estate and business lawyers at Loshak Law PLLC are always happy to answer your questions, provide advice, and address both routine and unanticipated concerns that may arise when you buy a house. Here are some of the specific ways we can help.

We will review the purchase agreement to ensure your interests are protected. For example, we will check to see if there are provisions addressing certain events and circumstances, such as the discovery of hazardous waste on the property; and the discovery (upon inspection) of other conditions requiring mitigation including but not limited to asbestos, lead-based paint, termites and termite damage. We will also:

• Ensure that the purchase agreement specifies what will happen to your down payment if the deal falls through prior to closing
• Verify that any modifications to the home made by the seller have been done lawfully.
• Verify that any changes you’d want to make to the property comply with applicable laws.

In addition to providing these services, we can draft language (or help you draft language) to include in the purchase agreement regarding any unusual circumstances or events.

Assuming the purchase agreement is signed, the next step is a title search. This is important because it is used to determine whether the property is subject to any liens, easements, and similar limitations that could adversely affect its sale or use. As a real estate and business law firm, Loshak Law PLLC can handle the entire closing process for you, as well as take care of escrow and issuance of a title policy.

Finally, we can provide invaluable assistance at closing. Specifically, we will ensure that you understand how much you must pay in closing costs and why. We will also verify that the deed and mortgage documents have been properly executed, make sure you understand them and help resolve any disagreements that occur at this point.

As we already mentioned, you aren’t legally obligated to get a lawyer to help with the home buying process in Florida. However, securing the services of an experienced attorney can help you avoid costly mistakes, saving you time and money in the long run.  If you live in Fort Lauderdale or anywhere in South Florida and are thinking about buy a house, contact us to learn more about how we can help.

As with anything in life, there are never any guarantees. This applies equally to real estate. Unfortunately, no one can promise that everything will go smoothly if you’re buying a property in South Florida, however retaining a qualified real estate lawyer will drastically increase those chances.

Take the purchase/sale in Fort Lauderdale, for example.  A title company and a qualified real estate attorney can both handle this for you and – because the price of the actual title insurance policy is dictated by Florida statute – there is usually no difference in price. Using a real estate attorney, however, also provides you with the skills and experience needed to anticipate and address any legal concerns that tend to come up.

Keep reading to learn more.

A title company’s approach to your closing

To begin with, it is important to understand what a title company does and how it approaches a residential real estate closing.

As a buyer, you hire a title company to determine how the property was initially established and investigate all relevant transactions. This is done to eliminate or minimize the possibility that someone will make a claim against the property after settlement. As part of this process, the title company looks for any current judgments, liens, bankruptcy filings, mortgage history, and unpaid taxes and assessments, easements, lease agreements and so forth.

Based on its findings, the title company generates a report, which it will share with your real estate closing lawyer (if you have one), and review with you and the seller at settlement. At settlement, the title company’s representative will also act as a liaison to help the buyer and seller address any outstanding issues on the report.

The final step in the process is for the buyer and seller to approve the settlement figures. Once this happens, the title company’s representative issues the checks to everyone and you’ll get the keys to the house. Afterwards, the title company submits all of the relevant paperwork to the title insurer and mortgage company.

A South Florida real estate lawyer’s approach to your closing

One of the biggest advantages of hiring a qualified real estate lawyer to handle your closing is that once you have done so, that attorney represents you throughout the transaction. In other words, he or she is legally obligated to act in your best interest and fight for you. On the other hand, the title company is only responsible for preparation of the essential documents a title insurer needs to finalize the transaction and issue the title insurance policy.

Another important consideration is that if you, as the buyer, have any problems or questions, the title company can’t provide any help or advice. In fact, title companies often recommend that buyers or sellers retain counsel versed in Florida real estate law to address significant questions or concerns. This is because these legal professionals have the skills and knowledge needed to review the contract and address such matters during the contract negotiation process.

 Finally, having a real estate lawyer handle your closing simplifies matters if curative documents are needed to address legal issues. A qualified real estate lawyer cannot only tell you how to obtain the documents and which ones to get, but he or she can also actually prepare the necessary materials.  A title company simply cannot provide these services.

As real estate lawyers, we also handle routine but vital matters, such as following up to make sure the title company filed the correct documents with the correct court office.

Specific issues related to closing that a real estate lawyer can address

So far, we have spoken only in generalities. However, there are specific matters that a real estate attorney can address for their client prior to, during and after closing.

These include but are not limited to:

• The identification of common title issues, explanation of the methods used to resolve them, and an explanation of any associated risks.
• The identification of any prior agreements documented in the public record and an explanation of how they affect future use of the property.
• Legal advice regarding risks associated with closing a deal while certain title issues are still pending.
• Legal advice and representation in transactions involving entities rather than individuals.
• Identification and explanation of potential complications caused by the transfer of property or addition of someone to the deed after the transaction closes.

Whether you are buying a home for the first time, investing in Florida for the first time, or you’ve finally found your “forever home,” the real estate lawyers at Loshak Law PLLC are here for you. Contact us to learn more about how we can help with all aspects of your home-buying process, including your closing, today.