Real Estate Archives - Atlas Law Tampa

Legal Requirements, Timelines, and Best Practices Landlord’s Guide to the Eviction Process

Eviction is rarely a landlord’s first choice, but sometimes it’s the only way to protect your investment. A poorly handled eviction can lead to delays, legal trouble, and unnecessary stress. On the other hand, a clear, lawful process ensures you stay in control while resolving the situation efficiently. Here are some beneficial ways to approach the eviction process.

Establishing the Legal Grounds

Florida law allows evictions for several reasons, but it shouldn’t be about personal feelings, so of course, you need to show the facts. To start, you need a documented, lawful reason to terminate the lease. Common grounds include:

Non-payment of rent
Lease violations, like unauthorized pets, property damage, or illegal activity
Holding over, when the lease has expired, and the tenant refuses to leave
No-fault evictions, where allowed, such as reclaiming the property for personal use or selling it

Serving Notice the Right Way

The eviction process officially begins when you notify the tenant. The type of notice depends on the situation and your local laws:

Pay or Quit Notice: Demands payment of overdue rent within a set number of days or vacating the property.
Cure or Quit Notice: Gives the tenant a chance to fix a lease violation.
Unconditional Quit Notice: Requires the tenant to leave without the option to remedy the issue.
Notice to Terminate Tenancy: Typically used for no-fault evictions, with timelines ranging from 30 to 90 days depending on the tenant’s length of residence.

Delivery matters. Some states allow you to post the notice on the door, while others require certified mail or personal delivery. Florida law allows notice to be hand-delivered, posted on the door, or sent by certified mail. Double-check that your notice includes all required information, like the reason for eviction and a deadline for compliance.

Filing the Eviction Lawsuit

If the tenant doesn’t comply with the notice, the next step is filing an eviction lawsuit, often called an unlawful detainer. This step is where you ask the court for the legal right to reclaim your property.

Your case hinges on the details, so ensure your complaint includes everything: the lease, notices, payment history, and any communication records. Once filed, the tenant must be served the Summons and Complaint using legally acceptable methods. From there, the tenant has a limited time—often 5 to 15 days—to respond.

The Court Hearing

If the tenant contests the eviction, the court will schedule a hearing. This is your chance to present your case and show that you followed all required procedures.

At the hearing, you’ll need to:

Prove valid grounds for eviction.
Show evidence that you complied with notice and filing requirements.

Tenants often raise defenses, such as claiming improper notice or that the landlord neglected property maintenance. Clear, concise records make all the difference here. If the judge rules in your favor, you’ll receive a judgment for possession and possibly unpaid rent or damages.

Enforcing the Eviction

Winning in court is a milestone, but it doesn’t guarantee the tenant will leave. If they stay past the court-ordered date, you’ll need a Writ of Possession, which authorizes law enforcement to carry out the eviction.

This part of the process is strictly by the book—no changing locks, no shutting off utilities, no touching the tenant’s belongings without court authorization. Self-help evictions are illegal in most states and can create significant liability.

Protect Your Investment

Evictions are a process, not a shortcut. Handling them correctly protects your property, your finances, and your reputation as a landlord. For landlords who value doing things the right way, Atlas Law is here to help. Call us at 813.241.8269 to ensure every step is handled with care and precision.

What Property Investors Should Know About Being a Landlord and the Fair Housing Act

Stepping into the role of a landlord offers the promise of steady income and long-term property appreciation. However, it’s not without its responsibilities—especially when it comes to compliance with the Fair Housing Act (FHA). This landmark federal law governs how you advertise, screen, and manage your rental properties, ensuring that everyone has equal access to housing. For landlords, mastering FHA compliance isn’t just about avoiding lawsuits; it’s about creating a rental environment that balances legal obligations with sound business practices.

What the Fair Housing Act Covers

The Fair Housing Act, enacted in 1968, prohibits discrimination in housing transactions based on race, color, religion, sex (including gender identity and sexual orientation), national origin, disability, or familial status. These are known as protected classes. While the FHA is federal law, some states and municipalities may have additional categories, such as age or source of income, so local regulations should always be part of your compliance strategy.

Whether you own a single rental home or manage multiple units, the FHA applies to your operations unless specific exemptions (like renting a room in your home) apply. Compliance involves both your direct actions and your policies. Practices that seem minor, such as word choices in advertisements or handling accommodation requests, can unintentionally lead to legal trouble.

Consistent Policies Are Key

Having clear, written policies for tenant screening and property management is your first line of defense. Use standardized criteria when evaluating applications. For instance, set consistent income thresholds, credit requirements, and background check parameters for all prospective tenants.

Documentation is equally important. Record why an applicant was approved or denied, and keep correspondence on file. These records provide clarity in case of disputes and demonstrate your commitment to fair practices.

Be Mindful of Your Advertising

Your marketing materials say a lot about your property—and you. Avoid phrases that might imply preferences or exclusions based on protected characteristics. Instead of “great for young professionals,” highlight the property’s amenities, like “close to public transportation” or “spacious layout.”

Neutral and inclusive language ensures your property appeals broadly and minimizes the risk of accusations of discrimination.

Respond to Accommodation Requests Thoughtfully

Requests for reasonable accommodations or modifications come with specific obligations. For example:

Allowing service animals, even if you have a no-pets policy.
Installing a grab bar or wheelchair ramp to improve accessibility.

Engage in what’s called an “interactive process” with the tenant—discuss their needs and explore practical solutions that work for both sides. While tenants typically bear the cost of structural changes, landlords must allow modifications unless they impose significant financial or administrative burdens.

The Risks of Non-Compliance

Ignoring the FHA isn’t just bad for business—it’s a direct path to legal and financial trouble. Landlords found in violation can face hefty fines, court orders, and even public scrutiny. First-time violations can result in penalties reaching tens of thousands of dollars, with repeat offenses incurring even steeper consequences.

Beyond monetary damages, landlords may be required to overhaul rental policies or submit to monitoring programs. Such repercussions can be avoided by prioritizing compliance from the start.

A Smart Approach to Property Management

Fair Housing Act compliance is a cornerstone of responsible property management. By understanding the law, creating fair policies, and treating tenants equally, you protect your investments while maintaining a reputation as a landlord that tenants can trust.

At Atlas Law, we help landlords protect their investments while staying on the right side of the law. From fair housing compliance to resolving tenant disputes, we’re here to assist with practical, results-driven advice. Call us at 813.241.8269 to ensure your properties are managed with care and confidence.

Code Enforcement and Your Property

Owning property is a great investment, but it does require some upkeep to maintain its value and legally protect yourself. Too many property owners fall into the trap of thinking that once tenants are in place, their job is done. That mindset can cost you big time. Local code enforcement in Florida is aggressive, and if your property isn’t up to standard, you could be facing steep fines or, worse, legal action. The best way to avoid that nightmare? Stay on top of your property and ensure compliance with every regulation your municipality throws at you.

Code enforcement is a full-scale operation to keep properties safe and in line with local standards. Here’s what every property owner needs to know to keep the code enforcement officer off their doorstep.

Key Areas of Property Code Enforcement in Florida

Property Maintenance and Appearance – Florida demands that properties be kept in good condition—no exceptions. This includes lawn care, removing debris, and preventing unsightly deterioration. Mold on the walls? Overgrown grass? You’ll be on their radar, and they won’t hesitate to fine you.
Building Permits and Zoning – Thinking about adding a deck or expanding your rental property? Don’t even think about picking up that hammer without getting the proper permits. Unauthorized work is a fast track to massive fines and, in many cases, an order to undo the work altogether.
Health and Safety Standards- You’re responsible for ensuring your property is safe for tenants. This includes working smoke detectors, solid electrical wiring, and compliance with fire safety codes.
Occupancy Limits – Every municipality has its own rules about how many people can live in a unit. Exceed that limit, and you’re in violation. Even if you didn’t directly authorize the overcrowding, as the property owner, you’ll be the one facing penalties.

How to Manage Properties in Compliance with Local Codes

Conduct Regular Property Inspections – Don’t wait until there’s a problem. Regular inspections will help you stay ahead of potential violations. Check for broken windows, peeling paint, or unpermitted modifications before a code enforcement officer shows up at your door.
Promptly Address Tenant Complaints – If a tenant reports an issue—whether it’s a leaking pipe or a malfunctioning smoke detector—act fast. Delayed action can lead to bigger problems, including fines and legal trouble. Don’t give your tenants a reason to call code enforcement themselves.
Stay on Top of Permits and Inspections – Anytime you plan to repair or renovate, check if a permit is required. If you skip the permitting process, you could face fines and possibly have to undo the work. The headache of filing for a permit is far better than the financial hit of being caught without one.

Take Action Before It’s Too Late

Code enforcement violations are not something you can afford to ignore. Whether it’s a mold problem or unauthorized construction, if you receive a violation notice, act immediately. In many cases, you’ll be given a grace period to correct the issue before fines start piling up. Don’t drag your feet. Atlas Law is committed to defending property owners from the costly consequences of code enforcement violations. Call us at 813.241.8269 to protect your investment and fight back against unfair penalties.

Best Practices for Managing Security Deposits in Florida

Handling security deposits is a task every Florida landlord must get used to. Doing it right makes a big difference in maintaining good relationships with tenants and the profitability of your rental properties. The goal is to manage security deposits fairly and according to the law, which helps keep things smooth for landlords and tenants. Here are some straightforward tips on managing security deposits in a way that’s effective and in line with legal requirements.

Security Deposit Laws

First, it’s important to get familiar with Florida’s laws around security deposits. While the state doesn’t set a maximum limit on how much you can charge, choosing an amount that’s reasonable for your property and market is smart. This approach makes attracting tenants easier and helps avoid potential disputes.

Once you’ve collected the deposit, Florida law requires that it be kept in a separate account. Whether this account earns interest or not is up to you, but you must inform the tenant in writing within 30 days about where their deposit is being held. This level of transparency helps to build trust and sets a positive tone for the landlord-tenant relationship.

Making Lawful Deductions from Security Deposits

When assessing any deductions from the security deposit, Florida law permits deductions for things like unpaid rent, damages that go beyond normal wear and tear, and other specific costs. The lease should mention these specifics, such as cleaning fees or unpaid utility bills. Clearly defining what counts as “normal wear and tear” can help prevent disagreements later on.

Thorough documentation is key to ensuring everything is above board. Before a tenant moves in, do a detailed inspection of the property and document its condition with photos and notes. Repeat this process when the tenant moves out. Having this evidence is very helpful in case there’s a dispute if you need to make deductions.

Returning the Security Deposit

Returning the security deposit on time is just as important as how it’s handled during the tenancy. Florida law is clear: if there are no deductions, the deposit must be returned within 15 days after the tenant moves out. If deductions are necessary, you have 30 days to notify the tenant in writing. This notice should include a detailed list of the deductions and the reasons for them.

Tenants have 15 days to object to these deductions in writing. That’s why it’s so important to keep clear records of any damages or unpaid amounts—having this documentation on hand makes it easier to resolve any issues that might come up. Handling this part of the process with care shows tenants that you’re committed to fairness.

Tips for Landlords

To keep everything running smoothly, a few simple practices can go a long way. First, make sure your lease agreement is clear about the conditions under which deductions can be made. This helps set expectations from the start and reduces the chances of misunderstandings later.

Regular property inspections are also important. By checking in on the property and documenting its condition, you can address any issues before they become bigger problems. Keep your tenants in the loop about these inspections and any concerns you might have—it helps build a cooperative relationship.

Finally, communication is key. From the beginning of the lease to the return of the deposit, keeping tenants informed about what’s expected and any potential issues can greatly reduce the likelihood of disputes.

If you’re a landlord in Florida and need guidance on managing security deposits or dealing with a dispute, Atlas Law is here to support you. Contact us today at 813.241.8269 to discuss your situation.

Real Estate Investment Trusts for Property Management

Investing in Real Estate Investment Trusts (REITs) offers a promising avenue for building wealth through real estate without the complexities of direct property ownership. In Florida’s vibrant property market, REITs not only provide opportunities for robust returns but also require careful navigation through a detailed regulatory and legal framework. Whether you’re an investor, a financial advisor, or a property management professional, understanding the legal scaffolding that supports REIT operations is crucial. From federal to state regulations, the operation of REITs are governed by laws that ensure transparency, efficiency, and fairness in real estate management.

Regulatory Compliance

Federal and State Regulations: REITs are subject to dual oversight – federal and state. Federally, they must comply with the SEC and adhere to the Internal Revenue Code, which mandates that 90% of taxable income must be returned to shareholders and at least 75% of assets must be real estate-focused. In Florida, additional layers include compliance with state securities laws and real estate regulations. The Department of Business and Professional Regulation (DBPR) plays a crucial role in overseeing these entities, ensuring that property managers are properly licensed and adhere to the state’s rigorous standards.

Florida Landlord-Tenant Law: This specific set of laws is crucial for REITs managing residential properties. It outlines essential responsibilities such as handling security deposits, setting lease requirements, and executing eviction procedures. Adhering to these rules not only ensures legal compliance but also aids in maintaining good relations with tenants.

Tenant Relations

Effective Leasing: The foundation of tenant relations lies in clear, compliant leasing agreements. These documents must align with Florida’s real estate laws and should cover all necessary terms including rent, lease duration, and maintenance obligations. A well-drafted lease minimizes the potential for disputes by setting clear expectations.

Handling Disputes and Evictions: Disputes are inevitable in property management, but the manner in which they are handled can distinguish a well-operated REIT. Florida’s laws dictate that evictions must be processed legally, requiring proper notices and the avoidance of self-help measures. Furthermore, compliance with the Fair Housing Act and Florida’s equivalent ensures that discrimination claims are minimized, as these laws prohibit unequal treatment based on race, color, religion, and other protected classes.

Risk Management

To effectively manage properties and mitigate risks, REITs must conduct regular audits and compliance checks. This proactive approach not only ensures adherence to laws but also keeps the trust updated on any legal changes that might affect operations. Staying informed and compliant are key to avoiding fines and legal challenges..

Investing in REITs can be a beneficial way to diversify a portfolio beyond traditional equities and bonds, while also potentially providing competitive dividend yields and the possibility for capital appreciation. However, like all investments, REITs also carry certain risks, including dependence on the economy, the real estate market’s volatility, and interest rate sensitivity.

For those seeking legal guidance regarding real estate investment, Atlas Law offers comprehensive support to help you manage legal obligations successfully. To learn more about how we can assist your operations, contact us at 813.241.8269.

6 Things to Know About Purchasing Property with “Sitting Tenants”

In Florida, purchasing a property that already houses tenants, known as a “tenanted property,” is a unique investment opportunity with its own set of rules and responsibilities. This situation arises when an investor or homeowner buys a property where lease agreements are already in place, meaning that the tenants have the right to continue living in the property under the terms of their existing leases.

For the new property owner, this means stepping into the role of the landlord with obligations and rights that are governed by Florida’s specific landlord-tenant laws. Understanding the laws, including how lease agreements are transferred, handling security deposits, respecting tenant rights, and eviction, is crucial for anyone considering such an investment. This type of purchase can offer immediate rental income and save on the costs of finding new tenants, but it requires a thorough understanding of your legal responsibilities as a landlord. Here are some things to consider:

Lease Agreements Carry Over: The existing lease agreements with tenants are binding upon the new owner. This means that all terms, including rent amount, deposit details, lease duration, and any other conditions agreed upon by the previous landlord and the tenants, remain in effect until the lease expires.
Security Deposits: Florida law requires that any security deposits held by the previous owner must be transferred to the new owner. The new landlord is then responsible for holding these deposits according to Florida statutes, which include placing the deposit in a Florida banking institution, posting a surety bond for the amount of the deposit, or insuring the deposit with a Florida insurance company.
Tenant Rights: Tenants in Florida have rights protected under state law, including the right to a habitable living environment, the right to privacy, and protection against retaliatory eviction. As the new property owner, you must respect these rights and follow proper legal procedures for any property access, maintenance, or eviction processes.
Notice of Ownership Change: While not specifically mandated by Florida law, it’s considered good practice to notify tenants of the change in ownership. This notification should include information on where to send rent payments and who will manage the property moving forward, along with any relevant contact information.
Eviction Rules: If you plan to make changes to the tenancy post-purchase, such as not renewing a lease or evicting a tenant for cause, you must adhere to Florida’s eviction laws. This includes providing proper notice as required by the lease and state law and following the judicial process for eviction if the tenant does not comply.
Local Regulations: Some Florida municipalities have additional ordinances affecting rental properties, such as rental license requirements, inspections, or specific tenant protections. It’s important to familiarize yourself with any local regulations that apply to your newly acquired property.

Investing Carefully

Purchasing a property with sitting tenants in Florida can be a valuable investment, especially if the property generates steady rental income. However, it’s crucial to understand your responsibilities as a landlord under Florida law to ensure a smooth transition and maintain a positive relationship with your tenants. Consulting with a legal professional experienced in Florida real estate and landlord-tenant law can provide valuable guidance and help protect your investment.

At Atlas Law, we help property owners just like you through the ups and downs of owning investment property and landlord-tenant laws. We’re passionate about ensuring your rights and investments are protected. Contact us today to schedule a consultation by calling 813.241.8269 and make sure your tenanted property venture is legally sound and financially rewarding.

The Best Way to Deal with Abandoned Mobile Homes

In the mobile home park industry, one of the most challenging aspects for owners is handling abandoned mobile homes. The presence of these unoccupied and neglected units not only mars the visual appeal and orderly environment of the park but also ushers in a multitude of legal obligations for the owners.

Chapter 715 of the Florida Statutes outlines specific procedures for managing such properties. For park owners, meticulous compliance with these statutory guidelines is not just a matter of legal formality; it is an essential practice to safeguard themselves from potential legal entanglements and to maintain the integrity and operational smoothness of their mobile home parks.

Understanding the Legal Framework for Abandoned Mobile Homes

Florida law defines an abandoned mobile home as one left unoccupied by a tenant who has no intention of returning, leaving personal property behind. In these cases, park owners must follow legal steps to manage these homes appropriately. These steps are designed to protect the rights of tenants and park owners and to ensure the orderly management of the park.

Notification Process for Abandoned Mobile Homes

The initial step in this process involves notifying the tenant or any potential owner of the abandoned property. This notification must be in writing and sent via first-class mail to the tenant’s last known address. It should inform the recipient where the property is being stored, the costs for storage, how the property can be claimed, and a deadline for claiming the property (at least 10-15 days). The notice must also detail how the property will be disposed of if it remains unclaimed.

Auctioning High-Value Properties

If unclaimed and valued over $500.00, park owners can auction these properties. This auction requires public notice in a local newspaper, including the former tenant’s name, a description of the property, and the time and place of the sale. Park owners can bid in these auctions. The proceeds, after deducting costs for storage, advertising, and sale, can be claimed by the tenant or property owner within a specified period before being deposited into the county registry.

Dealing with Low-Value Properties

For properties worth less than $500.00, park owners have more discretion. They can retain or dispose of these properties as they see fit, provided they have made reasonable efforts to return them to the tenant. Please note that only in very rare circumstances will a Court agree that a manufactured home is worth less than $500.00. Valuation at less than $500.00 only occurs where there has been material damage to the unit, such as a fire or significant hurricane damage.

Exceptions to Standard Procedures

There are two exceptions under Florida law. Firstly, if the lease agreement includes a specific clause as per Florida Statute §83.67, the landlord is not required to provide notice or storage for the tenant’s personal property after surrender, abandonment, or recovery of possession. Secondly, under Florida Statute §83.62, after the sheriff executes a writ of possession, the landlord can move the tenant’s property to the property line. However, this may involve costs and challenges, particularly in multifamily or restricted communities. Moreover, these statutes only govern Chapter 83 tenancies where the tenant does NOT own the mobile home. In most circumstances facing our mobile home community owners, the tenant owns the mobile home and Chapter 723 applies – thereby negating the provisions of Chapter 83 cited above.

Seeking Professional Guidance

Managing abandoned mobile homes in Florida requires a careful balance between legal obligations and practical considerations. Park owners must diligently adhere to statutory procedures to handle these properties lawfully and efficiently while minimizing liability risks. Understanding and following these laws are crucial for the successful management of a mobile home park.

For mobile home park owners grappling with the complexities of managing abandoned properties, professional legal advice is crucial. Atlas Law offers experienced counsel to ensure compliance with Florida law and to protect the interests of your mobile home park. Schedule a consultation with us to navigate these legal challenges effectively.

Florida Landlords- Your Duty to Repair Explained

When you rent out an apartment, home, or other residential accommodation, you have certain responsibilities as a landlord. Foremost among them is the obligation to keep the unit in good condition. In this blog, we’ll review your responsibility when it comes to repairs and go over situations when the cost can come out of your tenant’s security deposit.

Landlord’s Duty to Repair in Florida

During the tenancy, you must maintain the structural elements of the unit or building, including the roof, floors, steps, windows, doors, and exterior walls. Your other maintenance responsibilities include:

Keeping the heating and plumbing in good shape
Exterminating vermin and insects
Keeping common areas in a safe and clean condition
Maintaining working smoke detection devices
Repairing any damage to screens annually

If a tenant requests repairs, you have up to seven (7) days to complete them, provided that request involves an issue that violates Florida’s warranty of habitability. While it is typically your responsibility to cover the repair costs, under certain circumstances you may be able to deduct it from the tenant’s security deposit.

Using the Security Deposit for Repair Costs

While you cannot normally deduct repair costs related to ordinary wear and tear, one of the purposes of a security deposit is to cushion you financially against any property damage that could result from tenant negligence or carelessness. Examples include:

Smashed or broken bathroom or kitchen fixtures
Floors or carpets damaged by pet urine
Doors broken off the hinges
Broken windows
Cracked or broken tiles
Deeply scratched hardwood floors

If your tenant causes this type of damage, you are legally permitted to deduct reasonable repair costs from their security deposit.

What if the Tenant Objects to Using Their Security Deposit?

Your tenant may object to you using the security deposit to cover damages that they caused, either directly or indirectly. If the situation looks like it may escalate or you aren’t sure if you can deduct for certain damages, your best option is to consult with the Florida landlords’ rights attorney who can explain how state law applies to your situation.

Do You Need to Speak With a Florida Property Law Attorney?

If you are a Florida landlord with questions about your obligation to cover repair costs, let the landlord-tenant lawyers at Atlas Law help. The right advice from an attorney can ensure that any repair deductions are legally valid and, if the situation does escalate, we will protect your rights at any subsequent hearings or legal actions. To schedule a consultation today, call 813.241.8269.

Four Tips Maximizing Property Value Before a Sale

Whether you’re planning to sell commercial or residential real estate, it is worth your while to put some work into increasing its value before you put it on the market. Sometimes a small investment in your property can have a big payoff in the sale, and inexpensive or even free fixes that just take a little effort can do a lot for your bottom line as well. In today’s blog post, we’re sharing our tips for increasing your property’s value before you put it on the market.

A fresh coat of paint.

New paint can go a long way towards updating a space. Opt for neutrals like light gray. Even if there’s nothing inherently wrong or bad about the current paint job, it can be helpful to redo it to cover any scuffs or fading caused by time. Plus, the smell of fresh paint tells your potential buyers that you’ve been making improvements from the moment they walk through the door.

That being said, a poorly done paint job — one that leads to smudging on the ceiling, for instance — is an instant detractor. If you’re not sure of your painting abilities, it will be worth the expense to hire professional painters.

Curb appeal.

Small improvements can make a huge difference when it comes to curb appeal. A new mailbox is a great, inexpensive addition to a residence. Landscaping can be a major improvement for commercial or residential properties. Also consider new or improved siding, walkways, and outdoor living space like patios and decks.

Fixtures.

If you have outdated fixtures like doorknobs, cabinet handles, or even lighting fixtures, it is wise to replace them with something more modern, while also keeping it neutral. These kinds of details will make an especially big difference if your property is being shown to potential buyers unfurnished.

Cleanliness.

This one should be a no-brainer, but you’d be surprised how many people put a property on the market without cleaning up first, even if they’ve just evicted a tenant. You aren’t doing yourself any favors when you let potential buyers see a property that isn’t squeaky clean. If you don’t feel up to taking the time and energy to clean up yourself, hire professionals. It’s definitely worth it.

Contact Atlas Law for Your Florida Real Estate Needs

Our team represents property owners in real estate transactions and evictions. We work with clients throughout the state of Florida. No matter what region of the state you’re in, we have the knowledge and experience to help you. If you’re interested in learning more about our services, contact us today!

Buyers: 4 Things You Should Do During the Due Diligence Period When Buying a Home

The Merriam-Webster Dictionary defines the phrase “due diligence” as “the care that a reasonable person exercises to avoid harm to other persons or their property.” When it comes to real estate and buying or selling a home, you will find that there is a due diligence period (usually of 15 days in Florida contracts, but this can be negotiated) during which any investigations that could impact decision-making on the part of the buyer must be carried out.

You’ll often hear people reminding you to “Do your due diligence,” but what does that mean exactly? How do you go about doing your due diligence? What are the steps? Read below to discover the Atlas Law team’s recommendations for things to take care of during your due diligence period.

1. If you haven’t already, get to know the market.

Some people fall in love with the first house they see and spring for it without seeing what else is out there. If you aren’t already familiar with the market, you should look at some other comparable houses in the area at this time to make sure that the home you are buying is fairly priced (and to make sure it’s really what you want).

2. Calculate prices of potential repairs.

You’ve probably already had the home inspected by this point. If you haven’t already, now is the time to go over the inspector’s notes in detail. Then, you should get down to the nitty gritty details of what any necessary repairs are going to cost you. This may require calling a contractor for an estimate or even taking a trip to the hardware store to look at the costs of materials.

3. Look into insurance options.

Some buyers don’t look into insurance options until it is too late. They find out their home can’t be insured because, for example, it’s in a hurricane-prone area, but by the time they learn this it is too late for them to back out of the purchase. Don’t let this happen to you. Talk to some insurance companies and get some bids during the due diligence period.

4. Review Homeowners Association documents.

Some homeowners associations are better than others and it can be a big mistake to buy into the wrong one. Take some time to review the Homeowners Association documents so that you will be sure you know what you are getting into.

If you are buying or selling real estate in Florida, contact Atlas Law today. Our firm is unique in that we handle cases across jurisdictions through the state of Florida. We are extremely experienced and committed to helping our clients make the best real estate decisions possible. We can’t wait to chat with you about how we can help you!