For Sale by Owner

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St. Petersburg

For Sale by Owner Transactions

Trusted Legal Guidance for Your Real Estate Transactions In Florida

Even though Florida’s property laws do not require those engaged in buying and selling real estate to hire real estate lawyers, it is undeniable that you will face risks if you do not have a strong advocate at your side.

Having our real estate lawyers in St. Petersburg is the key to ensuring that your interests are met fairly and that the terms of your contract are performed as agreed. Moreover, we can make sure that every process goes smoothly, from contract review to closing.

Call our law office today at 727-877-3188 to get started on your free consultation.

What to Consider When Selling a Home Yourself

A real estate attorney will have years of experience in helping clients with a variety of different real estate matters. Your lawyer will be there to help support and provide you with guidance through each and every step.

Mandatory Real Estate Disclosures

If you are selling property in Florida, then you must disclose any facts or conditions about the property that can have a substantial impact on its value or desirability. Sellers in Florida must disclose dangers linked to radon gas and information about any mandatory membership and monthly fees if the property is in a community regulated by a condo or homeowner’s association.

If you are selling coastal property, then Florida Statutes §161.5 states that you must disclose the potential for erosion and that the property might be subject to regulations regarding construction, rigid coastal protection structures, beach nourishment, and the protection of marine turtles.

Although many buyers might want to know if a property they are considering has been the location of a homicide, suicide, or death, Florida Statute §689.25 states that sellers are not required to disclose this information because it is not considered a material fact.

Title Search & Insurance

A title search determines the legal status of a property and if there are any liens, encumbrances, or mortgages on the property. It essentially verifies whether the seller has the right to transfer ownership. A title search can range from $150 to $300.

Although the person responsible for paying for title insurance searches varies depending on the county, title costs can be negotiated in the contract. In general, the seller pays for the title insurance and chooses the title company, but sometimes, the parties agree to split the costs.

Closing Documents

Closing documents for residential real estate deals generally include the following:

Settlement Statement: This document details all closing costs for the buyer and the seller. Parties review these documents prior to closing so they have enough time to ask questions and resolve any issues before signing.

The Deed: A deed is the legal document that transfers title to a new owner. After it is signed, it must be filed with the county to officially transfer the property from the seller to the buyer.

The Bill of Sale: The bill of sale lists all property being transferred from the seller to the buyer outside of the real property. This includes items like furnishings, appliances, light fixtures, water features, and security systems.

Affidavits: Depending on the situation, various affidavits may need to be executed at closing. For example, a seller who is an entity may need to sign an affidavit attesting to the fact that they own the property and have the authority to sign. Your closing team will identify which affidavits are needed and will provide them at closing.

Title Search: The title search reveals any errors in the chain of title, unsatisfied judgements, and recorded liens on the property. Your closing team will work to clear these issues, so that the seller may transfer clear title to the buyer.

Tax Declarations: Buyers and sellers must pay taxes whenever a property is sold. The documentary stamp tax is due when the deed is filed with the county clerk. Additionally, there is a proration agreement that states how much the buyer and seller will pay to split the outstanding property taxes.

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