Lanigan & Lanigan, P.L.
831 W. Morse Blvd., Winter Park, Florida 32789
407-740-7379
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Real Estate
I’m Eric Lanigan of Lanigan and Lanigan attorneys in Winter Park, Florida. In this final series on the seller’s property disclosure form, I will explain the seller’s liability for nondisclosure and what, if any, liability the home inspector has. Liability and Damages Related to Seller’s Disclosure Q: Can I be sued and have the home sale cancelled or will there be a lawsuit against me for damages? That goes to the issue of damages versus rescission. Rescission – put everybody back where they were before the deal was made – is going to require fraud in the inducement. And fraud is the intentional misrepresentation of fact or the intentional omission of material facts that induced the buyer into buying the property. In that type of situation, rescission is a potential or alternative remedy. Generally, the lawsuit will be for damages. What’s going to be the cost of repair or what is the diminished value of the property? Because you may get something that a repair is not going to put the property in the same position as it would be if the damage didn’t exist and in Florida probably the number one example of that is sinkholes. There are many people in the engineering field who will tell you that there really is no such thing as a guaranteed fool proof sinkhole repair and I think almost any realtor will tell you that once a property has sinkhole damages it is the property equivalent of a leper. Nobody’s going to get anywhere near it. They’re going to immediately going to say drive on I don’t want anything to do...
Real Estate
I’m Eric Lanigan of Lanigan and Lanigan attorneys in Winter Park, Florida. As we continue this series on the seller’s property disclosure form, I will answer a seller’s question about the legal remedies the buyer has if the seller fails to disclose a problem with the home. Non-disclosure May Result in Legal Action Q: What legal options does the buyer have against me if I didn’t disclose a problem? Well that gets back to the answer to the original question. From a practical standpoint, it’s going to depend upon the significance of the problem but in a purely technical standpoint what are his legal options? His legal options are to make a claim against you as the seller, the realtor, the home inspector claiming that any or all of you knew or should have known that the problem existed. Those are his options. And most of them will try to get a resolution without going to court and in many cases if that can be done it’s certainly the recommended course of action because obviously if it gets into litigation it’s going to get very expensive for everybody. I had a case recently just in the past couple of weeks where someone contacted me and they were the seller of property and it was a condominium a high rise on the beach and after the people moved in, they moved in they found water damage the padding under the carpet in one of the rooms was wet when they took it out to replace the carpeting, etc. And they were in that case demanding rescission of the contract and...
Real Estate
I’m Eric Lanigan of Lanigan and Lanigan attorneys in Winter Park, Florida. Today I am going to answer some of the most frequently asked questions sellers have about the seller’s property disclosure form and the role of the inspector when selling a home. Sellers Should Disclose Everything Q: From the seller’s perspective, what happens if I purposely don’t disclose a problem with the home? Then you have a real problem. And non-disclosure is the number one reason why buyers of homes end up suing the sellers of homes. Now, at what level do you have to disclose a problem? Generally, the law will say that the problem needs to be substantial in nature such that it materially affects the value of the property or will involve a significant cost of repair. So, if you have a door that has a broken lock and you don’t disclose it, is that going to be a problem? No. If you’ve got known termite damage, known sinkhole damage, known black mold problems and you don’t disclose it then you’ve just bought yourself a much bigger problem because the buyer will inevitably find that problem and you’re going to get sued. Home Inspectors Do Not Always Find Everything Q: What happens if there’s a problem that comes up that I had no idea was wrong because I had a home inspection that didn’t disclose the problem? Well, you can only be liable for non-disclosure in the event there is either a negligent or an intentional misrepresentation. And a misrepresentation can occur by what you don’t tell just as it can occur by misrepresenting what...
Real Estate
When contemplating any real estate transaction, you should be extremely cautious with whom you conduct business to avoid potential real estate scams. Be especially cautious before considering dealing with people online that you do not know. It is important to work with only credible and ethical businesses when conducting real estate transactions. Distressed Property Scams Disreputable people often target individuals in the middle of a stressful short sale, foreclosure or bankruptcy. These individuals may ask you to sign over the title of your home as part of the ‘process’. Some property owners have been convinced to sign their title over to someone else who wants to help you stay in your home. They may make promises to pay the mortgage payments while allowing you to stay in your home by renting from them. The homeowner may not have been aware that even if he/she signs the title over, they are still responsible for the outstanding mortgage on the property. Renters Are Subject to Scams Too Ad Hijacking There has been a wave of what is being termed ‘ad hijacking’. Scammers find actual property listed for sale on legitimate websites, copy the photographs and property descriptions and post the property for rent –often on Craigslist.org. The scammer provides an email address purporting to the owner. What the Scam Does These scammers usually ask the applicant to wire money for the deposit with the promise they will get the key upon receipt of the deposit. The applicant may wire the money thinking they have found a great deal and the key never comes. In addition, the scammer may send a rental...
Real Estate
The decision to sell or purchase a home is one of the biggest financial decisions most people will ever make so it is wise to consult with an attorney. In Winter Park Florida, the median home price is near $320,000 with homes in the upper value range exceeding a million dollars. It is wise to protect such a large financial investment from the beginning of the real estate transaction. You may want to save closing fee costs and will think to yourself: Do I need an attorney to buy a home in Florida? The answer is can you afford not to? Do I Need an Attorney to Buy a Home in Florida? When you consider purchase prices in the hundreds of thousands of dollars, consulting an experienced attorney before, during and even after the sale is prudent advice. Problems can occur at any step in the transaction, so having an experienced real estate attorney can save you money in the end. Eric Lanigan of Lanigan and Lanigan, P.L., provides consultations to buyers and sellers as well as the many professionals involved in each step of the real estate transaction. It is better to consult with an attorney early in the process rather than risk litigation after the fact. Hire an Attorney Before the Sale The document to list your home for sale is a legal document. This document spells out the details surrounding the sale of your home. The contract details the pricing, commission rates, exclusions of personal property and possible penalties should the seller cancel the contract. The Disclosure Form The seller prepares the disclosure document as a tool to...
Real Estate
Florida is wrought with real estate scams heightened by a poor economy, desperate criminals and an abundance of eager investors in sunshine state properties. Florida is known by criminals for having a high number of seniors, retirees, vacationing people with a higher than average amount of disposable income, retirement accounts, savings and investing revenue. The large pool of vulnerable people who are likely to have retirement funds, increases the number of criminals seeking easier victims and targets. Winter Park, Florida, real estate lawyer Eric Lanigan warns all real estate investors–within or outside the United States–to take every precaution and be very wary if buying property in Florida. “If you’re buying land, a vacation home, timeshare, rental or investment property, commercial, new development…get the contract to an experienced real estate attorney for review,” Lanigan said. “There is documentation available to prospective buyers about the land and property that is going to be purchased. An everyday person may not know to ask or where to go to find property information. A good lawyer will tell you to get it and will review it before you consider purchasing anything.” Listen to Your Gut and Look for Red Flags There are precautions that may be taken to protect against being scammed by clever and convincing criminals who sell real estate in Florida. Lanigan has handled many real estate scam cases for clients inside and out of Florida. “Paperwork may be falsified to the point where the person showing you a property is not a realtor, is not licensed. So the first thing you need to do is be certain that you’re working with...
