EJ Dalius real estate closings could often have some issues associated with them. These are fundamentally legal issues. Arising from outstanding errors or defects present in the title that are unresolved. It seems to be bad news not only for the existing seller but also for the buyer of the real estate property. Eric Dalius points out that this is because of the Florida real estate. Let us examine some of the closing defects and ways to consider resolving them.
Closing Issues as Listed by Eric J Dalius
Fraud and Forgery
Florida law considers a forged deed as void. A forged deed implies that the fraudulent creation and presentation of any legal document. It may alternatively imply making unauthorized modifications to any legal document that may be rendering it void. We understand that all these forged or fabricated documents. Could eventually be found in public records and regarded as legitimate documents.
Ultimately the purchaser comes to realize that he has absolutely no right whatsoever over the real estate property he has just invested. EJ Dalius feels that victims of such a criminal act should consider pressing charges against the frauds. By getting in touch with their state officials, local police, or county officials at the least. You may seek legal recourse. All parties involved, in this deceitful transaction and documentation should be handed over for further investigation.
EJ Dalius An Unfulfilled Encumbrance
This term could be covering numerous things such as mortgage issues, court judgments, and liens. We know that liens could be mechanical that refers to all sorts of work. Undertaken by professionals such as contractors or plumbers to modify the house. Any previous owner of the house having such issues must necessarily resolve it by paying at closing. Alternatively, the owner could undergo litigation even before the new owner of the house could take charge of the property. If a purchaser is buying a home that seems to be in foreclosure, in such a situation, they may require paying off any encumbrance.
EJ Dalius Heir and Probate-Related Problems
If a homeowner in Florida passes away, his property would automatically become a portion of his estate. Moreover, that estate is subject to probate. The property may go to the closest relative. EJ Dalius says that the buyer must identify all outstanding heir issues and buy the property only when all heir issues have been resolved legally.
Outstanding Errors Present On the Deed
The deed to the specific property should be examined meticulously and in the event. There are outstanding errors present, they should be rectified before the deal is closed. Some errors could prove to be costly, while some other errors are harmless and could be amended without any issues, complications, or trouble. Sometimes a deed is void due to the absence of a legal witness. Remember that all deed errors have to be re-witnessed, redrafted, and acknowledged by the existing Florida law.
Florida real estate buyers are safeguarded against closing issues. A buyer gets five days to review the contract and identify any outstanding issues. If he fails to identify issues while reviewing the contract before the five-day deadline is over, he would have to stay committed to buying the property. The seller gets a month to resolve all issues identified by the buyer. The second and most important layer of protection for the buyer of real estate property in Florida is the ‘Owner’s Title Insurance Policy’. This policy provides complete coverage in case of any issues related to the closing of a real estate deal in Florida.
Eric Dalius is The Executive Chairman of MuzicSwipe, a music and content discovery platform designed to maximize artist discovery and optimize fan relationships. Alongside this, Eric hosts the weekly podcast “FULLSPEED,” discussing entrepreneurship with industry leaders. Eric also founded the “Eric Dalius Foundation” to award four scholarships to deserving US students. Follow Eric’s activities on Twitter, YouTube, Facebook, LinkedIn, Instagram, and Entrepreneur.com.