Miami Attorneys Handle Condominium Sales and Purchases
Knowledgeable guidance for a South Florida property transaction
Many people dream of landing a luxury condo in a prime South Florida location. Whether it is intended as a vacation haven, investment property or retirement destination, you want to be assured that the terms are favorable, and your interests are protected. Real estate attorney Norma Echarte has handled hundreds of condominium transactions in 20-plus years of practice. Our firm, Norma Echarte & Associates, provides full-service representation to buyers and sellers of condos in Miami, Fort Lauderdale, Boca Raton and the surrounding areas. We can skillfully address the special considerations associated with property deals involving condominiums and town houses.
Dedicated firm handles a wide range of concerns associated with condo deals
Purchasing a condominium is different from buying a house. Rather than owning the property outright, you are buying a piece of something larger. There are limits to your ownership stake and specific rules regarding use of the property. Our attorneys and staff educate you about the terms of the transaction and their rights and obligations under the condominium association documents.
Our boutique firm is known for multi-unit condominium closings on behalf of developers and lenders and provides comprehensive services, including:
- Negotiation and drafting of purchase agreements
- Assistance with condo lease agreements and lease renewals
- Review of condominium declarations
- Review of association permissions, restrictions and bylaws
- Title review and title insurance
- Advice on securing financing arrangements
- Due diligence in regard to the other party
- Drafting and review of closing documents
- Onsite closing services
- Translation in Spanish or Portuguese
While the terms are dictated somewhat by the condo association’s conditions, covenants and restrictions (CC&Rs), there are often many areas for negotiation. Our intimate knowledge of the South Florida real estate market — current inventory, new developments coming online and the going rates for similar condo properties — enables us to pursue the best possible terms for clients. We do our homework to make sure you are fully informed about common areas, parking, guests and other details that might affect your decision to purchase or lease a condominium. It is also important to understand what transfers with the unit or what caveats may apply if you later decide to sell. We also represent buyers, sellers, brokers, lenders and developers in condominium disputes, from breakdowns in transactions to legal conflicts between unit owners and associations.
Protecting your purchase with HO-6 condo insurance
Many new condo buyers mistakenly assume the association’s master policy covers their unit and even their personal liability. Unfortunately, most policies only cover common areas and coverage stops at your exterior walls. To protect your unit’s interior and all that lies within, you can purchase an HO-6 policy, also known as condo insurance or condominium homeowners insurance. This type of policy operates similarly to homeowner’s insurance with certain exceptions. Premiums are generally reasonable, depending on numerous factors, such as your claims history, your credit score, the age of condo and its location. HO-6 condo insurance also protects against personal liability for problems originating in your unit, such as a guest’s slip and fall injury or a fire that damages adjoining units.
A review of your homeowners’ association’s master policy will reveal exactly the type of coverage you need to be fully protected. Our firm can review that policy and provide the trustworthy advice you need to be secure in your new home.
Contact a South Florida attorney to discuss your condominium purchase or sale
Arrange a consultation with an experienced Miami attorney regarding the purchase or sale of condominiums. Call us at 305-501-2844 or contact us online today. Ms. Echarte and several members of our staff are bilingual in Spanish or Portuguese.