contracts
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New Florida Law Aims to Keep Unsuspecting Buyers From Being Flooded by Loopholes
Florida is a state that is prone to flooding. This is due to a number of factors, including the state’s low-lying geography, its proximity to the Atlantic Ocean and the Gulf of Mexico, and its susceptibility to hurricanes. 2024 has definitely been one for the books, but it is likely to be a glimpse of…
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Contracts of Adhesion, Binding Arbitration, and The House Of Mouse
Is clicking “I agree” a ticking timebomb? In the digital age, the seemingly innocuous act of clicking “I agree” on a terms and conditions agreement can have far-reaching implications for our legal rights. This is particularly true when it comes to arbitration clauses, which can significantly limit consumers’ ability to seek justice. A recent Florida…
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FAR/BAR Residential Contract and FAR/BAR “As Is” Residential Contract Revised as of August 1, 2024
The Florida Realtors / Florida Bar (“FARBAR”) Residential Contract for Sale and Purchase and the “AS IS” Residential Contract for Sale and Purchase have been updated as of August 1, 2024. The new revised versions are identifiable by “6xx” and “Rev. 8/24” notations towards the lower left-hand corner of each contract. What Changed? The changes…
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Curb Appeal or Curb Your Enthusiasm? Florida HB 1203’s Collision Course with the Contracts Clause
Florida’s House Bill 1203 (2024), which goes into effect on July 1, 2024, significantly impacts a slew of HOA laws. Despite its broad impact, in this post I’m going to focus on one particular aspect of the new legislation, which amends Florida Statutes § 720.3075 to address restrictions on homeowners parking work vehicles on their…
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Brave New World? Written Buyer Agreements in Florida Real Estate Transactions
The Industry Has Changed. We are now seeing the precise effects on the industry following the major National Association of Realtors lawsuit and settlement which I have previously written about. The first major change in the Florida real estate landscape is the creation and implementation of Buyer Agreements, which will soon be required when a…
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The Force Is Strong With This One: Force Majeure Clauses in FAR/BAR Real Estate Contracts
What is a Force Majeure Clause? A force majeure (pronounced “forss ma-zhoor”) clause is a provision in a contract that allows one or both parties to excuse (or sometimes delay) their performance obligations if circumstances beyond their control arise. These circumstances are typically called “force majeure events.” Force majeure clauses are common in all types…
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Just Bought New Construction in Florida? You Might Be Owed Money From the Builder
And we can help. Congratulations on your beautiful new construction home in the Sunshine State! But before you sink into those beachy vibes, there’s one important detail to consider: post-closing tax re-proration provisions. In plain English, this means you might be entitled to money back from the builder (the seller) due to potential discrepancies between…
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FinCEN Renews and Expands Geographic Targeting Orders in Florida Real Estate Transactions
The ever-evolving landscape of Florida’s real estate market is marked by both significant growth and heightened vigilance against potential financial irregularities. Amidst this dynamic environment, the recent expansion of Geographic Targeting Orders (GTOs) has garnered attention, particularly for practitioners such as myself, whose practice primarily focuses on Sarasota and Manatee Counties. What is a GTO?…
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Burnett v. National Association of Realtors – The 1.8 Billion Dollar Verdict That Could Reshape an Entire Industry
Yes… with a “B” On October 31, 2023, a federal jury in Missouri returned a verdict finding the National Association of Realtors (NAR) and several large brokerages liable for antitrust violations in a class-action lawsuit filed by home sellers. The case is Burnett et al v. The National Association of Realtors et al, U.S. District…
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If They Build It, You Will Come: New Construction Contracts in Florida
So, you want to buy a brand new home in Florida? Join the crowd. As a real estate attorney in Lakewood Ranch, Florida, I am often asked by folks to review their new construction purchase contract for buying a home from a builder. I’m always happy to do it, but I will always caution that…