Q. What are the rules governing expenses for condominium associations in Florida? Can an association pay for a party or any planned get-together function from the operating expenses? For condominiums, refer to several sections in FS 718. Also, the state has administrative codes that define budgets. When you think of budgets, you must also include …
Category Archives: Legal
For one homeowner, following bank’s advice was bad news
Lindsay Hall took out a $200,000 loan in 2005 on her paid-off beach house with the understanding that her $600 monthly Social Security check would cover the mortgage payments. When her interest rate jumped more than a year ago, it raised her mortgage payments to $1,500. At that point, Hall started the fight to save …
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Bank-owned foreclosures account for a third of Palm Beach County’s 2011 home sales
It took less than a week for interested buyers to home in on the two-story, five-bedroom foreclosure on Salt Water Creek Court west of Lantana. Advertised as needing a little TLC – a pressure wash of the roof, fresh paint on the trim – the Savannah Estates home joins the ranks of Palm Beach County’s …
This team loves distressed properties
The foreclosure crisis helped make Al Dumas and his 11-person team into one of the most productive real estate sales operations in Florida. His team and its four affiliated agents were responsible for closing 537 transactions and more than $50 million in sales volume in 2010. Though sales have slowed in 2011, thanks to the …
Local governments banned from restricting short-term rentals
Gov. Rick Scott has made official a controversial new law that prohibits local governments from restricting short-term vacation rentals. The law, signed by Scott yesterday, is one of the first of its kind in the country to enforce the rights of residential property owners who want to rent by the day or week, a practice …
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Home inspections help assure buyers
Home inspections can help buyers decide whether they’ll walk away from a deal or head to closing.In some markets across the country, inspections also serve as key negotiation tools. In Philadelphia, for example, inspection results more frequently are providing leverage for buyers as they attempt to whittle down price or get the seller to complete …