Knowledge Mondays –Will shopping for mortgage rates hurt my credit score?

Typically, when a buyer enters into a property purchase contract, he/she does not have the entire purchase price available. Instead, the buyer will provide a down payment and will secure financing for the other portion of the purchase price. Securing financing from a lender can be a difficult task for individuals filled with endless questions. One of the biggest misconceptions that buyers have is that shopping for Read More

Case Law Wednesdays – Constant and Repeated Seepage Exclusion

Most insurance policies cover losses on an all risk basis if a claim is the result of a direct physical loss. However, insurance policies typically contain a section describing what an insurance policy expressly excludes from coverage. Usually an insurance policy does not provide coverage for constant or repeated seepage that extends over a specific period of time. In Hicks v. American Integrity Insurance Company Read More

Knowledge Mondays – Your Team when Purchasing a Property

When purchasing a property, a buyer and seller should acquire a team that will make the experience as simple as possible. Purchasing a property is a major life decision, therefore it is crucial that you have a dream team by your side. The first individual that you should have on your side is a real estate agent. The person that is in charge of selling the property is usually the seller’s agent. A seller’s agent Read More

Case Law Wednesdays – When can an Insurance Company Invoke Appraisal?

Circumstances may arise during your insurance claim when your insurance company decides to invoke appraisal. Appraisal is typically mandatory when properly demanded by the insurance company or the insured after property damage. However, appraisal is not arbitration, instead it is a method for determining the amount the insurance company should provide for loss to your property. This means that an Insurance Company Read More

Knowledge Mondays – Can a Buyer Cancel a Real Estate Contract?

Typically, if a buyer walks away from a real estate contract, he is faced with penalties for breaching the contract. However, there are certain circumstances where a buyer can cancel a real estate contract without penalty in Florida. When a buyer and seller enter into a purchase contract, they have obligations that they must meet within a certain time frame. If a seller does not meet the obligations stated in the Read More

Case Law Wednesdays – Complying with Post Loss Obligations

Insurance policies typically contain post loss obligations that the insured must abide by before filing a lawsuit. Post loss obligations are conditions that the insured must perform after they have experienced a damage. These obligations can include providing prompt notice of the loss, making reasonable repairs to protect the property, and/or providing a sworn proof of loss. A lawsuit might be dismissed if an Read More

Knowledge Mondays – Deciding on How to Take Title

A deed is a document used to transfer title and ownership of property. In every closing, a seller will have to sign a deed transferring their property to the new owner. In Florida, a property is typically transferred in what is called a warranty deed. A warranty deed is preferred because it provides an absolute guarantee that there are no problems with title. With a warranty deed, the grantor, which is the seller Read More

Case Law Wednesdays – Additional Coverage in Insurance Policies

Most insurance policies cover losses on an all risk basis if a claim is the result of a direct physical loss. Additionally, insurance policies contain sections describing what an insurance policy expressly excludes from coverage and any additional coverage they provide. Additional coverage found in an insurance policy are not excluded from coverage, instead they are situations where an insurance company specifically Read More

Knowledge Mondays – What is Title Insurance?

Title insurance in real estate transactions protect buyers and mortgage lenders from financial losses that may arise from any defects that arise after ownership of the property is transferred to the buyer. Issues that are uncovered with a title search may arise with a property after closing, thus title insurance is a crucial protection for buyers. With the additional layer of protection, a buyer is protected Read More

Case Law Wednesdays – Homeowner’s Insurance Loss Caused by Multiple Events

Although an insurance company issues an all risk policy, there are certain losses that an insurance policy does not extend coverage for. There are often situations that arise where multiple events cause a loss to a property and at least one of the events is excluded by the policy. When addressing whether an insurance company has to provide coverage for the loss in situations like this, Florida Courts rely on the Read More