Lanigan & Lanigan, P.L.
831 W. Morse Blvd., Winter Park, Florida 32789
407-740-7379
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Real Estate
It’s imperative that as a seller of any Florida property you openly disclose all known facts that will affect the property value in the past, present or future. The Florida property seller is obligated to disclose what’s known of the material issues, problems, faults, or possible issues that are not readily observable to prospective buyers. Winter Park, Florida, and Orlando, Florida, real estate lawyers Eric Lanigan and Roddy Lanigan recommend real estate seller’s disclosure documents be reviewed by attorneys before signing. The review catches errors, omissions and language that should or should not be present in the final agreements made on any real estate deal. From new homes to commercial property sales, the Lanigans suggest that buyers and sellers are careful to include thorough seller’s disclosure documents to prevent future misunderstandings and any legal issues that may arise. Water Issues Whether the roofing is faulty, shoddy, or not to code or the basement wall faults that have or may cause leaks “on occasion” that may cause water to pool, drip, drain or sit in the basement be fully disclosed by sellers. If the work is completed and the leak is repaired knowing who’s responsible in the Florida seller’s disclosure laws is imperative. If you think you know them, if you’re sure that you know them or if you aren’t sure, be sure to have an attorney review them first before executing the contract. Pests If you’re the seller and you know of past, present or possible termites or other pest problems (rodents, bugs, birds, etc.,) that enter or damage the home regularly, seasonally or in the past are you familiar...
Real Estate
Florida Real Estate Contract Issues Should Be No Surprise Florida real estate contract law is clear in terms of what the buyer’s and seller’s obligations are. But whether buying or selling property, protect yourself by hiring a Winter Park, Florida, attorney with experience in real estate to review every contract. Winter Park, Florida, real estate attorney Eric Lanigan has practiced Florida law since 1976; Orlando, Florida, real estate attorney Roddy Lanigan since 2007. What happens frequently to investors trying to take advantage of foreclosed properties or short sales is that real estate deals are done without consulting an attorney. Reliance on a realtor who is capable, yet not an attorney, is a mistake for buyers and sellers. Standard, template or form contracts are used. Contingencies, addenda and key elements are not included which can ensure that expensive mistakes will be made. Forgoing process, legal, inspection, title and other elements of a short sale or a property in the initial stages of foreclosure are skipped. Then, there are issues not covered to protect both buyer and seller for properties that have been sitting empty, sometimes for years, with no maintenance, improper and illegal repairs, non-licensed rebuilds, add-ons, roofs and buildings. Then, a buyer agrees to the use of a contract created by the seller’s attorney and foregoes hiring an attorney to review the contract. There’s no assurance that everything is in order. The rush-through contract is used and the buyer agrees because the seller just wants out from under a mortgage they couldn’t afford. There couldn’t possibly be anything wrong with this, right? Wrong. If you buy a property, there...
Real Estate
You’re Not Qualified to do Foreclosure Research Foreclosed properties are not bad investment options for a home or rental property–if you know what you’re doing. Most people don’t and should consult first with an attorney familiar with the ups and downs of buying a foreclosure. You need to know who has the right to sell the property: The former homeowner or the lender? Your Friend Has a Property in Foreclosure If you don’t know the many layers of legalities involved in foreclosure, don’t try to “help” a friend by purchasing their property which is in foreclosure. First, talk with experienced Winter Park Florida real estate and foreclosure attorneys Eric Lanigan and Roddy Lanigan. Don’t try to proceed on your own because if you provide payment, sign documents and move forward without an attorney, you’re stuck with the property, or in some cases, no property and an empty bank account. Just because you do some “research” on your own doesn’t mean that you should move forward without an attorney. In any property purchase, an experienced real estate attorney should AT LEAST review the closing papers before you make a final decision to purchase a Florida foreclosure. It’s better to be prepared than to be surprised when buying a foreclosed property. Why Do Sellers “Go Into” Foreclosure? Here’s the clarification: Sellers don’t decide to go into foreclosure, they are foreclosed upon by a lender who files a lawsuit against them for not paying their mortgage. The lender would prefer to have the money, but if there’s no payment, the foreclosure will proceed. An attorney meeting is the first step toward stopping and...
Real Estate
Florida’s real estate market is an investor’s dream according to media accounts, but it is not the place for an amateur home buyer or first time commercial investor. Homes in foreclosure, homes being sold via short sale, HUD homes and even experienced commercial purchases can become a nightmare for sloppy, hurried buyers who don’t get their own inspections or work with an experienced real estate attorney. Properties have been sitting empty sometimes for years with no maintenance, improper and illegal repairs, non-licensed rebuilds, add-ons, roofs and buildings. If you buy a property and are just now realizing that the seller lied about a property’s pre-existing condition like a leaky roof, you now bear the responsibility of tracking down who’s to blame and why you ended up with the bad deal. Florida real estate disclosure laws are firm and clear. But desperate times have produced desperate sellers who lie. Yes, lie to get rid of the large number of ailing properties across the state. Did a Real Estate Attorney Review the Contract? Florida real estate attorney Eric Lanigan’s going to ask you whether full disclosure of the issue was made. Then he’ll ask whether you had a real estate attorney review the final documents. Hopefully you did consult with a real estate attorney. If you had then you would know that the issue was completely divulged and you didn’t question it, didn’t get your own private home inspector because you were on a budget and didn’t want to add several hundred dollars to the price of a several hundred thousand dollar home. First, you had better realize that not every...
Real Estate
Florida business and real estate attorneys Roddy Lanigan and Eric Lanigan have represented buyers, sellers, developers, appraisers and contractors in residential and commercial litigation. There are an increasing number of mandatory disclosure obligations placed on those who sell Florida real estate and it’s hard to keep up with all the new requirements. Here are a summary of disclosures required for Florida residential transactions units. Many of the following disclosures are required on commercial transactions. Local residential disclosures may exist so it is always prudent to inquire about such requirements before escrow closes. The Top Real Estate Claim The No. 1 claim on Errors & Omissions Insurance is “failure to disclose” an item that a buyer felt was material. There are some general guidelines to help protect against non-disclosure liability lawsuits. Part of this is ensuring that all real estate documents are reviewed by an attorney before signature. A key factor is to ensure that all disclosures are in writing and which have acknowledgment signatures. Disclosures That Are Required TDS (Transfer Disclosure Statement) This law requires sellers to give prospective buyers a written disclosure statement of items including possible easements, neighborhood issues, appliances, structural defects, modifications, and other material defects that may affect the principal’s decision in a transaction. Natural Hazards Disclosure Law The Natural Hazards Disclosure law requires the seller or seller’s agent to disclose property that is located in the following zones: Flood Hazard Zones Areas subject to unusual flood risks Very High Fire Hazard Severity Zones Areas where property owners may be obligated to undertake specific maintenance duties Wildland Fire Areas Areas wherein the state has responsibility for...
Real Estate, The Law
A major increase in real estate litigation comes due to issues surrounding agency representation according to Winter Park attorney Eric Lanigan. Buying and selling a new home is an emotional experience. It can also become a legal experience if you hire a realtor to find the home of your dreams or sell your home and something doesn’t work out as planned. Regardless if it’s your home, a home you’re buying, are having issues with a disclosure form or a dispute over a home warranty, a property line, a land zoning or quality issue consult with Lanigan and Lanigan, P.L. If you have a problem purchasing property work with Florida real estate attorney Eric Lanigan or Roddy Lanigan to handle your legal issues. The number one reason that real estate agents and brokers are involved in litigation are due to client and agent issues regarding agency representation according to a survey conducted every two years by The National Association of Realtors. Agency representation issues refer to whether a real estate agent represents buyers or sellers or provides dual agency representing both parties. If a realtor represents both parties, it must be divulged before the contract for agency is signed. Agency representation cases rose 36 percent from 2009. Agency issues were one of the top 3 causes of litigation: Agency 73% Property condition disclosures 68% Ethics 53% Third-party liability 49% Fair housing 48% Technology 48% Anti-trust issues 47% The lawsuits were based on accusations that an agent or a broker had breached client fiduciary duty. For example, an agent was accused of failing to explain the importance of property disclosures and instructing...
