The Florida real estate market offers first-time homebuyers and seasoned investors incredible opportunities. However, with its unique legal landscape and property regulations, buying property in the Sunshine State can also present unexpected challenges.
Below are some of buyers’ most common mistakes when purchasing property in Florida – and how to avoid them.
Not Conducting a Professional Title Search
One of the biggest mistakes homebuyers make is skipping a professional title search or assuming it’s unnecessary.
Imagine buying your dream home only to discover that the previous owner still owes back taxes or has a third-party claim to the land. A title search is critical to uncover potential property history issues, such as liens, easements, or ownership disputes.
How to Avoid This: Always work with a trusted title company like Liberty Title to conduct a title search. This verifies that any legal or financial claims tied to the property are addressed before the sale to safeguard your investment.
Failing to Address Title Defects Early
Occasionally, a title search will reveal defects – such as a missing signature, an old lien, or an unclear boundary description. Some buyers might choose to ignore these issues to speed up the process, but this can lead to long-term legal headaches.
How to Avoid This: Address any title defects as soon as they are discovered. Liberty Title is experienced in resolving these types of issues and can work with you so that everything is in order before closing.
Ignoring Title Insurance
Another common mistake is overlooking the importance of title insurance.
Some buyers may think title insurance is an unnecessary expense, but in reality, it provides long-term protection against unforeseen issues with the property’s title. These can include claims from unknown heirs, fraud, or clerical errors in public records, all of which could jeopardize your ownership.
How to Avoid This: Title insurance isn’t just a recommendation – it’s essential. It acts as a safety net, protecting your property from any challenges to your ownership. You can avoid future legal battles and financial losses by purchasing title insurance through a reputable company.
Overlooking Local Zoning Laws and Restrictions
While it might seem unrelated to title concerns, overlooking local zoning laws can lead to major issues down the line.
In Florida, zoning laws determine how property can be used – whether for residential, commercial, or mixed purposes. If you purchase a property without understanding these restrictions, you may be unable to develop or use the land as you intended.
How to Avoid This: Before purchasing a property, consult local zoning regulations and work with experienced professionals who can verify that it is suitable for your intended use.
Failing to Identify Property Boundaries
Many buyers neglect to properly identify the exact boundaries of the property they purchase, which can lead to disputes with neighbors.
For instance, if you plan to add a fence, build a pool, or expand your home, a boundary dispute could delay or even halt your plans. This is especially important in rural or waterfront properties (which are common in Florida).
How to Avoid This: Always request a land survey before closing on any property. A survey will clearly outline the boundaries, allowing you to avoid disputes and make sure any planned modifications comply with local regulations.
Protecting Your Investment in Florida Real Estate
Buying property in Florida can be a smooth and rewarding experience – as long as you’re aware of the potential pitfalls.
At Liberty Title, we’re committed to helping you avoid these mistakes by guiding you through the process from start to finish.
Your Team at Liberty Title
