When it comes to real estate, there are two distinct types of property you can purchase: residential and commercial. Even though they are both classified as real estate, there are several legal differences between the two when it comes to buying and selling in Florida. Let’s take a closer look at the nuances of each type of real estate and how they differ from one another.
Residential Real Estate in Florida
The vast majority of most people’s home purchases will be residential real estate purchases. This is because residential properties are designed for use as family dwellings or housing units, such as single-family homes, duplexes, condos, townhomes, etc. When it comes to purchasing a residential property in Florida, all transactions must abide by state laws that protect buyers from fraud or predatory behavior. Additionally, buyers must also adhere to local building codes and zoning regulations. Lastly, buyers should also be aware that certain warranties may apply to their purchase, so they should always read any contracts very carefully before signing on the dotted line.
Commercial Real Estate in Florida
On the other hand, commercial real estate refers to properties that are used primarily for business purposes such as office buildings, warehouses or retail stores. Buying and selling business properties involves more complicated contractual agreements than residential properties due to the higher financial stakes involved with commercial transactions. Therefore, it is important for those looking to buy commercial properties in Florida to engage an experienced attorney who specializes in this area of law so that all parties involved understand their rights and obligations regarding the transaction. Additionally, buyers should also be aware of any local zoning restrictions that may affect their intended use for the property prior to making an offer on a particular lot or building.
It’s important to consult with an attorney who specializes in real estate law to ensure a smooth transaction
When purchasing either residential or commercial real estate in Florida there are certain aspects that need to be taken into account before entering into any legal agreement or transaction with another party. It is important for both buyers and sellers to understand their rights under state law while adhering to local zoning regulations and building codes applicable to each type of property being sold or purchased. For anyone looking to buy or sell a home or business property in Florida it is recommended that you consult with a qualified attorney who specializes in this area of law prior to completing any sale agreement or contract involving either residential or commercial real estate transactions within the state of Florida.
Contact us today to speak with an experienced real estate lawyer!