Quick Read Summary (TLDR) Market conditions significantly impact the legal and financial aspects of your real estate closing. In a seller’s market, buyers often agree to cover more transaction costs—such as documentary stamps, HOA estoppel fees, and pest inspections—to make their offers more competitive, while buyer’s markets shift these costs back to sellers eager to…
Quick-Read Summary (TLDR) In Florida, homeowners go about removing an HOA board members through a “recall” process outlined in Chapter 720 of the Florida Statutes, which allows a majority of homeowners to vote for removal even without stating a specific reason. The process begins with creating a written recall agreement that clearly identifies the board…
If a prospective homeowner is looking at properties within an HOA it is worth doing a cost-benefit analysis to see if the relative inconvenience of purchasing a home and living within an HOA-governed area is worth the additional value of the property. On the whole, properties within an HOA are worth more than their counterparts…
How do investors minimize their rental property liabilities to ensure a higher return on their real estate investments? As investments in the capital markets are expected to yield lower returns in coming years, many investors are turning to real estate, and in particular single-family or multi-family rental properties, to create growth in their investment portfolio….
People either take care of the elderly in their families or outsource the care to third parties. Either way, the costs associated with this care can be paid out of pocket, by long-term care insurance, Medicare or Florida Medicaid. Which source of payment a family uses depends on whether there is a long-term care policy…
Homeowners Association (HOA) open meetings can be held in open sessions where all members can attend. Alternatively, HOA meetings can also be held in closed, private sessions that are not announced to the community of members. Deciding which topics warrant discussion in a closed session or open session must be done with care. HOA or…
Many Florida Medicaid recipients are faced with the complexities of selling a house while on Medicaid benefits. Often, a Medicaid recipient may need to sell a house because they do not have the money to pay for its upkeep, property taxes or other real estate-related costs. However, remaining financially eligible for Medicaid after receiving the…
A legal framework supporting electronic voting by homeowners associations (HOAs) and condominium owners associations (COAs) has existed in Florida since 2015. However, it was during the two years following the pandemic of 2020 that the use of electronic voting by associations went into overdrive. Now that the use of secure Internet-based platforms to gather and…
Quick Read Summary (TLDR) Commercial real estate closings involve properties that are used for business purposes such as office buildings, hotels, warehouses and vacant land. Buying and selling commercial property involves a more complex closing procedure with a longer list of to-do items than that found in residential property closings. If you are looking to…
Quick Read Summary (TLDR) Many Florida homeowners live in HOA-managed communities and statistics showing that as many as 72% of these home owners experienced HOA disputes that were difficult to resolve. When homeowners have disagreements with an HOA, they often find that the legal framework in Florida favors the association rather than them. HOA members…
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