Real estate litigation is an instrument utilized by real estate brokers and agents, property sellers and purchasers, and landlords and tenants to protect legal rights and rectify damages. Here are the most common reasons litigation is pursued in the real estate realm and what you can do to safeguard your best interests in any real estate dispute.
1. Failure to Disclose Property Defects
Property sellers in Florida are legally required to disclose known and non-evident property defects that may affect its value. If a purchaser later learns of a previously undisclosed property defect after closing, they may bring forward legal action against the seller of the property for failure to disclose.
These cases can be difficult to win and require experienced legal representation because you must have evidence that the property seller knew about and purposefully concealed a property defect or that the defect is significant enough that the seller should have reasonably known about it.
2. Breach of Duty
Real estate agents and other professionals typically have a duty to their clients to act in the client’s best interests. However, unscrupulous agents may act in their own best interests in order to secure a sale.
For example, a real estate agent may minimize significant defects that reduce the value of a property to keep the sale price from being negotiated down or the sale from falling through entirely. If the client has experienced losses or damages from the agent’s actions, a lawsuit may be warranted.
3. Breach of Contract
A breach of contract is arguably the most common reason for real estate litigation. Contracts are crucial in the real estate realm and outline what each party involved in the transaction is responsible for and obligated to do. Failure to abide by a written and agreed upon contract can be costly for everyone involved.
To successfully win a breach of contract case, you must be able to show evidence that you fulfilled your own contractual obligations as well as evidence that the party you are suing did not. This is particularly true when seeking damages in high net worth real estate lawsuits.
When to Contact a Florida Real Estate Litigation Attorney
If you’re a party to a real estate dispute, it’s important that you have adequate legal advocacy to protect your rights and best interests. Our real estate litigation team can help. Call now for your consultation at 954-767-9662 (Fort Lauderdale), 561-760-9929 (Boca Raton), or 305-842-2730 (Miami).