Florida Real Estate Law

Real estate

The laws governing the sale of real estate in the state of Florida are complex and intensive. It is important to stay up to date with the latest laws and regulations to ensure that your real estate transaction is being completed legally and safely.

Registration Requirements

In order to practice as a broker in the state of Florida, you must meet certain registration requirements. These requirements include completing 45 hours of real estate principles, having at least 14 hours of real estate practice, and passing the real estate exam.

Sales Contracts

In Florida, a real estate sales contract must include clearly defined terms and conditions regarding the proposal. These terms must include the offeror’s full name, the address of the property, the type of property being offered, and the purchase price. The contract should also include contingencies, such as a financing contingency, which allows the buyer to obtain a loan before the sale can advance.

Mortgage Law

In Florida, mortgage laws are very specific and must be followed for any real estate transaction. Florida law requires the buyer to receive a Truth-in-Lending Disclosure Statement from the lender prior to closing the loan. The statement provides information about the terms of the loan, the interest rate, and any fees associated with the loan.

Other Laws

Other important areas of real estate law in Florida include:

  • Homestead Exemption: This law provides tax exemptions to property owners.
  • Landlord-Tenant Laws: These laws outline the rights and responsibilities of landlords and tenants
  • Property Taxes : The laws in Florida are complex, but the taxation of real estate must be taken into consideration.

Real estate law in the state of Florida is ever-changing and must be kept current in order to protect the interests of buyers, sellers, and lenders. It is recommended that you consult a qualified real estate attorney prior to entering any real estate transaction.