Real estate transactions usually equate to something exciting. You are either buying or renting property to conduct business or are looking to sell. Even though it could be exciting, not all real estate deals go as planned. Consulting with your real estate attorney is essential to ensure your transactions go smoothly.
Why You Might Need a Real Estate Attorney
Although most people enter a real estate transaction expecting the best outcome, occasionally, it does not turn out that way. There are some common situations that require litigation. The parties involved may be real estate agents or brokers, buyers or sellers, or landlords or tenants. It depends on the situation, and in many cases, you will need to consult a real estate lawyer for help.
Some examples of real estate transactions that could end up in litigation include:
Breach of Contract
Breach of contract is when one party fails to uphold their promises in the original signed agreement. Breach of contract is the number one reason real estate transactions end up in court. Some examples might be a tenant who fails to pay their rent or a landlord who refuses to fix a serious problem with the property. These issues may also be related to titles, closing dates, and other assets.
When you hire a real estate attorney, they will attempt show that you upheld your end of the bargain (contractual obligations), and that the other party failed to do so. The ultimate remedy is often monetary compensation for the breach. You may be entitled to damages if you have suffered because of the contractual breach.
Failure to Disclose Known Defects About a Property
When someone purchases a piece of real property, Florida law dictates that the real estate agent/seller disclose known defects about the condition of the property. If they fail to do so, and you buy the property and afterwards find such defects, the seller may be liable for damages. The tricky part here is that you must prove that the seller/real estate agent knew about the defect before the sale, or they “reasonably should have known” about it.
These cases can quickly get complicated and heated. An attorney can act as a buffer between you and the other party.
Breach of Duty/Negligence
The law states that real estate agents and brokers must act in the best interest of their clients. If, however, they place their alliance with a third party or prioritize themselves, you could have a lawsuit case. If they disclose your private information to someone else related to the deal, they could be held liable. If you have suffered any losses because your real estate professional acted unethically or unlawfully, you could have a legal case against them.
Disputes Over Boundaries
Disputes over property boundaries are another common reason that two parties end up in court. Sometimes these issues include access to bodies of water.
Contact Spiritus Law for more information about real estate issues and how we can help.