Question for Florida real estate experts...

[Debbru]

DH and I live in New York but will be moving to Florida in 2 1/2 years when we take early retirement. My 82 year old Dad lives in Florida and due to failing health can no longer deal with the responsibilities and maintenance of owning a home. We found him a wonderful 1 bedroom apartment and want to buy his house.

The question...We want to do a private cash sale (no realtor or mortgage involved). We will be paying actual market value. I'm not sure where to start. First I thought I would just find a real estate lawyer and go from there but I saw an ad for a Title Company in his local phone book and it sounded like they handle everything (title search, escrow, appraisal and closing). My brother and sister in law recently had a home built in Florida and didnt even use a lawyer (which would be unheard of in New York). Are things that different in Florida?

Any help or suggestions would be appreciated.

Thanks,
Debbie

 

[ChristmasElf]

Here in Florida, the realtor writes up the contract. You can use a real estate lawyer here if you wanted to, but most people do not.

It is also not uncommon to close at the actual house, the Title Company or even the realtors office. No need to ever step foot in a courthouse just to buy property here.

 

[Debbru]

So if we're not using a realtor or lawyer, who would write up the contracts - the Title Company people?

Sorry, but I'm very confused

Debbie

 

[lesroi]

In your situation, where the home will not be going on the market, I would just get a Real Estate Attorney. The Attorney would write up the contract. A Title Company could handle the closing.

You can use a Realtor for this (I know as I am one in Florida) but in your situation an Attorney would likely be easiest for everyone concerned and would be more helpful in advising you on what/how to do everything. Good luck to you. It's a neat thing you are doing!

Sincerely,

Tracy

 

[barkley]

since you've agreed on a purchase price, unless you are financing the house purchase it's unlikely anyone needs to pay for an appraisal (usualy thats used to support the loan amount for the lender).

one thing to look at though is how selling his home will impact his property/assetts for medicaid. if your df may be in need of long term nursing care or other health care not covered by private insurance or medicare it can be in his best interest to retain ownership of a home vs. selling it. homes a person resides in (or has the intent to return to) can be exempt from consideration for eligibility to medicaid services. selling a home can mean a person has to spend down every penny (save a couple of thousand) before they get any assistance with coverage.

you might want to consult an elder law attny. in florida to find out if there is a way you can structure the ownership/sale of the home so as not to disadvantage your df should he need to access these services.

 

[Debbru]

Thanks for all your help - I guess our first step is to get an attorney.

Debbie