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New real estate law changes in Florida you need to know about

On Behalf of | Oct 9, 2024 | REAL ESTATE LAW - Real Estate Law

Are you buying a home in Florida? Recent changes in real estate laws could significantly affect your purchase. Whether you’re new to home buying or have purchased several properties, staying updated on these new regulations is crucial. These changes aim to protect your investment, save money and ensure a smoother home-buying experience.

Flood risk disclosure

Sellers must now provide detailed flood history and risk information. This law protects buyers from unexpected flood damage and encourages them to get proper flood insurance. The implications of this change are significant. Purchasers can make better choices about acquiring real estate in flood-prone areas. It also encourages buyers to obtain adequate flood insurance, potentially reducing financial losses from flood damage. Additionally, properties with a history of flooding might see a change in market value, influencing both buyers and sellers.

Real estate commission changes

Buyers can now negotiate their agent’s commission separately. This change increases transparency and may reduce your overall costs when buying a home. The implications of this change include potential cost savings for buyers by negotiating lower commission rates. It also brings greater transparency to the home-buying process, as buyers understand precisely what they are paying for. Furthermore, it could lead to more competitive commission rates among real estate agents, benefiting buyers.

Stronger property rights

New laws address squatter issues. You can now request immediate removal of unauthorized occupants from your property. This law strengthens your rights as a homeowner and keeps your property secure.

Protecting your investment

Knowing these new laws can significantly impact your home-buying experience in Florida. Use this knowledge to make informed decisions, save money and protect your investment. Consider consulting a legal professional for guidance when buying real estate property.

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