Whether you are searching for property to buy or looking to sell, a broker under contract has a legal duty to act in your best interests.

Real Estate Broker Responsibilities

Brokers have a variety of responsibilities when it comes to real estate purchases.

Depending on the party he/she represents, a broker can:

• list and promote properties you are trying to sell
• find suitable properties for you to buy
• assist you at the closing table

1. Property Listings

The first step in selling your property is to get it listed. This process can be time-consuming, especially for a novice.

A broker will  review your property records, pull together the tedious details, and get your real estate listed properly.

2. Promote your listing

Once your listing is live, you will need to do some promotion to attract prospective buyers.

Whether you plan to place print ads in local real estate guides or set up virtual tours showcasing photos of the property’s interior and exterior, a broker can help you get the word out about your listing.

3. Assist at the Closing Table

The closing table is where the buyer and seller meet to formalize the purchase, finalize the sale and transfer the deed.

Your real estate broker can be present at the closing table to support you throughout the process.

Interested in buying or selling a property? Not interested in the stress that comes with doing it alone?

Contact Mark Schecter – real estate attorney and licensed broker in the Fort Lauderdale area.

To schedule a consultation with Mark, simply call (954) 779-7009 or click here to email.

In April 2010, a report by LexisNexis Mortgage Asset Research Institute indicated Florida had the most cases of mortgage fraud in the nation.

In June, 86 South Floridians were arrested for falsifying documents to secure fraudulent loans, which resulted in a loss of nearly $80 million.

And according to the SFBJ, “last week, four area residents pleaded guilty to participating in a $2.5 million mortgage fraud ring. A week earlier, a former attorney and three mortgage brokers were charged in a $6 million scam. That same week, a Miami federal jury found two women guilty in a $21 million mortgage fraud scheme.”

A recent report from MortgageDaily.com shows that the state no longer has the highest rate of mortgage fraud in the nation and is second to California with nearly $436 million in claims filed.

What is Florida doing to Protect Homeowners?

Attorney General Bill McCollum has taken aggressive action to cut down mortgage and foreclosure fraud in the state.

In 2007, he started the Mortgage Fraud Task Force and has since reached out to state agencies, law enforcement, and attorneys for help developing a collective approach to protect Florida homeowners.

Since 2007, the task force has reviewed the practices of more than 200 foreclosure rescue businesses, and is presently handling more than 50 active investigations and a few pending lawsuits.

If you feel you have been wronged or taken advantage of by a foreclosure rescue company, you will be happy to know the Attorney General’s office has streamlined the process for reporting incidents of fraud. You can now submit complaints using this online form.

Other mortgage fraud resources include:

Attorney General of Florida
Consumer Protection
The Capitol PL-01
Tallahassee, FL 32399-1050
Phone: (850) 414-3300
Consumer Hotline: (866) 966-7226
Web: http://myfloridalegal.com/consumer

Florida Department of Business and Professional Regulation
Division of Real Estate
Consumer Complaints Section
400 West Robinson Street, Suite N801
Orlando, FL 32801-1757
Phone: (850) 487-1395
Email: Call.Center@dbpr.state.fl.us
Web: http://www.myflorida.com

FBI Field Offices

Miami Division
White Collar Crime Program
16320 NW 2nd Avenue
North Miami Beach, FL 33169-6508
Phone: (305) 944-9101
Email: miami@ic.fbi.gov
Web: http://miami.fbi.gov/

Tampa Division
White Collar Crime Supervisor
5525 W. Gray Street
Tampa, FL 33609
Phone: (813) 253-1000
Email: tampa.division@ic.fbi.gov
Web: http://tampa.fbi.gov/

U.S. Department of Housing and Urban Development (HUD)

Miami Field Office
Brickell Plaza Federal Bldg.
909 SE First Avenue
Miami, FL 33131
Phone: (305) 536-5678
Email: FL_Webmanager@hud.gov
Web: http://www.hud.gov

Tampa Field Office
500 E. Zack Street, Suite 402
Tampa, FL 33602-2945
Phone: (813) 228-2026

Do you have questions for our Fort Lauderdale real estate lawyers? You can email our firm or give us a call at (954) 779-7009.

What is a title?

A title legitimizes your ownership rights in a property. If the title is free of any blemishes, it’s considered a “clear title.” If inconsistencies or other problems are found, the title may be deemed defective.

What is a title examination?

Before you buy any real estate, it is imperative that you have a thorough title examination performed. This will allow you to confirm you are buying a property that has a clear title that can be conveyed without difficulty.

A title examination also reveals the history of ownership (known as the “chain of title”) for the property. Each time a Florida property is sold, the purchase is recorded as public record in the county court. The chain of title will reflect every time the property was bought or sold.

Can a title be transferred from one person to another?

Yes. There are several ways a title to a property can be transferred. Most often, a written deed is used to change ownership from one person to another. Other ways a transfer can take place is through inheritance, a court order, and a will.

What is title insurance?

Title insurance is an insurance policy that protects the real estate buyer and the mortgage holder against loss caused by defective titles, liens, or encumbrances. Most mortgage lenders in the United States require the buyer to purchase a title insurance policy that will protect the lender’s interests in real estate loans.  A title insurance policy will cover the property indefinitely – until the ownership changes.

Who needs title insurance?

Title insurance protects both the property buyer and lender from liabilities that can stem from a defective title. However, federal law – specifically the Real Estate Settlement Procedures Act (RESPA) – establishes that the buyer has a legal right to pick a company to insure the title.

Our Florida real estate attorneys routinely provide title examination and title insurance for residential and commercial clients. This includes an extensive search of the public records to confirm there are no adverse claims or other defects in the property’s title.

Contact our real estate lawyers today to protect your commercial and residential property. You can use this form to email or call us at (954) 779-7009.

In some parts of Florida, renters are also experiencing problems as a result of default mortgages they have no control over.

As a renter, you are not responsible for a mortgage but your landlord is. If he is unable to pay the mortgage on the rental property, the loan will go into default and the bank can take the home back from the landlord.

You can find yourself facing eviction with limited time to vacate the property.

This can cause a tremendous amount of stress as you struggle to not only locate a new home, but come up with the cash needed to satisfy the deposit.

In addition to sudden evictions, Florida residents in some locations are seeing a rise in rental prices.

A number of factors contribute to the rising costs, including the fact that many renters are waiting for home prices to bottom out before making a decision to buy. And as the demand for rental properties increase, the prices do too.

Although the market is showing signs of steady improvement, lenders have tightened their restrictions and now require close-to-perfect credit and larger down payments.

If you’d like more information about leasing residential (or commercial) property, contact our Fort Lauderdale real estate attorneys today. You can use this form to email or call us at (954) 779-7009.

If you lease commercial real estate in Florida, your landlord has a duty to maintain the leased property in a manner that is suitable for you to operate your business or use in any other permissible way.

When a landlord fails to fulfill this obligation and does not conduct regular maintenance, he deprives you of the enjoyment and use of the leased property. This is considered constructive eviction. See Barton v. The Mitchell Company, 507 S.2d. 148 (1987).

Constructive eviction may involve any condition that renders the leased premises unsuitable for its intended purpose. This includes failure to repair and maintain the property, pest control issues, structural damage and more.

In many instances, commercial landlords forego maintenance and other obligations in order to save money. However, for every landlord that is feeling the financial crunch, there is a commercial tenant that is barely able to keep his business doors open. And thus, cannot afford to incur expenses the landlord is legally obligated to cover.

Much emphasis is given to commercial landlords, builders and property owners when we think about the real estate market in Florida. However, they are not the only people affected by the crash. While they have experienced a fair share of pain in this crisis, there are other victims – commercial tenants – in the market that are suffering along with the landlords and property managers.

If you are a commercial tenant in or around the Fort Lauderdale area dealing with a landlord that refuses to adhere to the terms of a valid lease agreement, you should contact our commercial real estate attorneys. Educate yourself on the remedies available to you as a tenant, particularly ways you can reduce your damages and resolve the matter without the need for costly litigation. You can use this form to email or give us a call at (954) 779-7009.

According to recent statistics, real estate sales are up in Broward, mainly in the Fort Lauderdale area. In March 2010, approximately 3200 properties were sold; compared to 2200 in February. And, the average property price of $143,000 is up from $137,000 in the previous month.

Despite the increase in real estate sales, Broward County’s commercial (and residential) markets remain saturated with vacant foreclosures and unbeatable deals. Most of these deals can be found in Fort Lauderdale, the largest incorporated city in the county.

If you are a property investor looking to buy a property in foreclosure, Fort Lauderdale is a good place to start your search. But before you invest any capital, you should understand the foreclosure process so you can catch the properties with the best deals.

There are 3 steps that occur during the foreclosure process:

Pre-Foreclosure: During this period, the property owner is behind on mortgage loan payments but no legal action has been taken to start the foreclosure process. At this time, the property owner is more inclined to consider offers to avoid foreclosure and save their credit rating.

Notice of Default: This is the first step that initiates the foreclosure process.

Sale: If you fail to prevent the foreclosure, the lender will eventually be able to take the property. The length of time the process takes to complete is determined by the state you live in.

In Florida, once a judgment is reached the foreclosure sale is scheduled to take place on the courthouse steps. In some states, the property owner may be given an opportunity to get the property back. This is known as the redemption period, but is not applicable in Florida.

Buying commercial foreclosures and other real estate is a complex and tedious process. Our Fort Lauderdale real estate lawyers can help you navigate the purchase process and find the right property for you. Contact us today to start your search for commercial foreclosures.

Buying foreclosures and other real estate is a complex and often tedious process. The Fort Lauderdale real estate lawyers of Schecter Law can help you navigate the purchase process. Contact us today to start your search for commercial foreclosures. You can use this form to email or call us at (954) 779-7009.

With further ado, here are our top real estate blog posts for 2009. Enjoy!

Is the Florida Condo Conversion Market Collapsing?

3 Things to Consider before Acquiring Commercial Property

Leasing Commercial Property in South Florida

South Florida Property Owners Dispute Tax Assessments

In 2010, we plan to continuing providing informative and engaging content, and an honest assessment of Florida’s real estate market through our blog. We hope that you stick around and enjoy the ride.

Happy New Year from Schecter Law!

Commercial Tenants are Suffering Too

In these rough economic times, commercial tenants in all regions of the US are complaining about landlords failing to fulfill basic obligations, such as repairs and maintenance, and failing to adhere to other terms of the Lease Agreement.

In many instances, commercial landlords are foregoing maintenance and other obligations in an attempt to reduce their spending and continue the operation of their business. However, for every landlord and property manager that is feeling the crunch, there is a tenant barely keeping the doors of his/her store open and cannot afford to incur expenses the landlord is obligated to cover.

Read more…