What is the difference between residential and commercial property for disclosure obligations
In Florida, there is a distinct difference in the manner in which residential and commercial real estate transactions are handled. In 1985, the Florida Supreme Court decreed that buyer beware does not apply to residential transactions and sellers must disclose known material facts that are unobservable to a buyer. This mandate is now included in all standard FarBar real estate contracts and most brokerage firms also require buyers to complete a separate seller’s disclosure form.
What do you do when you discover a defect after closing
When a buyer believes that a seller has failed to disclose a material defect usually the discovery of the situation occurs shortly after closing. Therefore, it is important to consult with an experienced and expert litigation attorney like David Steinfeld, who has tried these types of cases to verdict before juries and judges to determine the next and best course of action for your unique situation. While a lawsuit may be one option to resolve the situation, it is not the only option available. Lawsuits in general are expensive and time-consuming, but these types of lawsuits in particular often require a significant number of depositions and, therefore, can become very expensive and very time-consuming. Therefore, it is prudent to carefully examine all of the options available together with David Steinfeld in order to make informed decisions in response to the unfortunate situation.
Should I use a home inspector
Although the seller of a home in Florida is obligated to disclose material defects that they actually know of, sometimes sellers do not make such disclosures either as a result of a lack of knowledge or intentionally. As the saying goes, sometimes the best defense is a good offense, which when translated into residential real estate transactions mitigates in favor of retaining qualified inspectors to thoroughly assess the property. The Law Office of David Steinfeld has utilized a number of such inspectors as expert witnesses in lawsuits concerning disclosures and can guide and recommend clients to these professionals as part of guiding and assisting either a buyer or seller in such real estate transactions.
About the Author
David Steinfeld is a Board Certified expert in Florida business law. He has been practicing for almost 25 years. He is rated AV-Preeminent, Best Lawyers in America-U.S. News & World Report, a Florida Super Lawyer, and Florida Legal Elite. Dave received Martindale’s prestigious Judicial Award for high reviews by Judges, its Platinum Client Champion Award and has a 10.0-Superb rating on AVVO and a 10.0 rating on Justia.
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