3 Tips on Breaking a Florida Lease Contract Legally

Breaking a  Florida Lease Contract Legally- When it comes to Orlando real estate law, breaking a lease is completely legal in certain situations but you have to go about it the right way. If not, you could risk facing some pretty serious financial as well as legal consequences. You should also know that it is neither quick nor easy. There are laws in place to protect both lessors and leas-sees.

Before starting the process of breaking your lease here are a few things to think about.

1- Find out what your rights are– Read your lease option agreement thoroughly, knowing what you can or can’t do is hands down the most important part of breaking a lease agreement. Find out what the tenant laws are in your state, this is something that can easily be found by doing a simple Google search. Print out anything that can potentially pertain to your specific situation.

Sometimes agreements will require you to do something as simple as giving the landlord written notice that you want out. However, most of the time this approach will mean forfeiting your deposit and still having to pay on the remainder of the lease. This option doesn’t appeal to most people because it’s expensive. However, if you’re breaking your lease because of problems with maintenance something wrong with the property, then you have a much better chance of getting out at no additional cost, and depending on the situation you may be entitled to getting your deposit back.

2- Keep good records- If you’re in a situation where there are safety issues involved or the maintenance isn’t being kept up according to the agreement, then you’re most likely able to break your lease with no problem at all and without any financial repercussion. It is extremely important, however, that you keep records and collect any proof of the things that are happening to make you want to break your lease. For example: health code issues, lack of maintenance, safety issues, etc. You should take photos and gather any other kind of proof that you can. Health code and building code violations are public records and you should have no problem getting this documentation online.

Having proof is essential in case your landlord wants to settle things in a court of law.

3-Be nice- Once you find out where you stand legally and you’ve collected any proof that you will require to prove your case you should approach the landlord in a nice way if at all possible. Before sending out any letters to him of what your intentions are, try appealing to his compassionate side [if he has one]. Many landlords will appreciate the “heads up” and this can make things a lot easier on you. Because you are being polite in the situation, you may find that your landlord is willing to work with you and find another tenant or waive certain of your obligations.

Even if you’re able to settle things with your landlord amicably and he tells you don’t worry about giving written notice, you should still follow all the legal steps that are spelled out in the contract including any written notices, etc.

Are you looking for an Orlando rental property?  Visit us at Orlando Realty Consultants.com and search the Florida MLS like a pro.

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

This field is for validation purposes and should be left unchanged.
TOC*

Back on the market! Orlando Short Sale | 14834 Oldham Dr.

We have the Approval Letter in hand! Last buyers unable to close.  Take advantage of this great Orlando Short sale property. Located in the very desirable University Estates, this gorgeous  2,357 Sq ft. 4 Bedroom 3 Bathroom home with a private pool is move-in ready! It has a spacious open layout and the neighborhood is loaded with great amenities for the whole family.

Close to shopping, restaurants and good schools in the area.

Here are just a few of this property’s great features

* Vaulted Ceilings

* Large master suite

* Solid wood cabinetry throughout

* Large formal Dining room

* Lots of natural lighting

* 2-car garage

* Screened in porch

* Wood Burning Fireplace

* Good School District

 

Great Amenities!

* Community Pool

* Gazebo

* Tennis courts

* Basketball courts

* Playground

Perfect location near UCF, Waterford Lakes Towne Center shopping and dining all with easy access to highway. Hurry Today! This home won’t last for long.

 For more info on this terrific property call us today at 407-902-7750 or visit us at OrlandoRealtyConsultants.com

Orlando Real Estate Broker

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

This field is for validation purposes and should be left unchanged.
TOC*

Apopka Short Sale | 2464 Pickford Circle 32703

Apopka Short Sale | 2464 Pickford Circle 32703- This is a Gorgeous Single family home located in the very desirable subdivision of Lake Heiniger Estates. It’s sits on an enormous over sized corner lot. The spacious kitchen is a house wife’s dream with solid wood cabinets, granite countertops and high end stainless steel appliances.

This home is in excellent condition and move -in ready.

Do you want to search for properties like a pro in just a few seconds?

visit us at OrlandoRealtyConsultants.com to see this or any of our other properties using our property search tool.

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

This field is for validation purposes and should be left unchanged.
TOC*

Orlando Real Estate Market – What can be expected in 2013?

The tentative economic conditions will continue to impact the real estate market in Florida and particularly in Orlando even this year. Home prices are expected to rise again due to decreasing inventory facing its lowest phase since February 2006. As per the market research, the 2013 appreciation is expected to increase up to 3%. Some investors even expect the prices to climb up to 4%. If the price range will go so much higher, then it may drastically affect market conditions. The changes in price may emerge around the spring season. So, it’s better for investors to crack the deal before the prices climb.

The interest rates for the Orlando real estate market are expected to remain low. The rate may get low as 3% according to The Federal Reserve. The lower interest rates may neutralize the price hike of houses. This can be encouraging for the recovery of the real estate market.

Not only the home prices, but the mortgage guidelines are also going to face changes. There are reports of rules to become stricter for mortgage refinance. This step is being considered to help borrowers for being more responsible with their mortgage loans. Borrowers may even avoid defaulting on their mortgage by following the new set of rules. According to the new rules, borrowers must have to submit more documents for a mortgage refinance. The financial stability of the borrower will also be scrutinized minutely. The range of the qualifying credit score may be from 580 to 620. Insurance premiums of FHA are also expected to increase.

The diminishing inventory is also a decisive factor for the real estate market in Orlando in 2013. The shrinking inventory may aggravate the competition for quality properties in Orlando. So, the scope of getting multiple offers at a time will increase automatically.

Many market experts explain the Orlando real estate market as a seller’s market. Of course, the rise in home prices proves this claim. These market conditions are more favorable for sellers.

The construction of new homes may also bring huge changes in the real estate market. The degree of change depends largely on future economic alterations. Experienced professionals are expecting the gap between the new home sales and the re-sale to get broadened. Builders may offer lesser incentives to buy properties. This may be a good time to build profitable properties.

As the market condition is suggesting, the investors must take advantage of the beneficial situation before it’s too late. The overall market predictions are favorable till now, but the situations may change if the world economy takes a turn. The same applies to a mortgage refinance too. It’s advisable to decide on refinancing after judging the market.

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

This field is for validation purposes and should be left unchanged.
TOC*

Great Deals on Orlando Real Estate are Drying Up

Between 2008 and 2010 you could easily buy a property in Central Florida for at least 25% below the property’s market value. Since then we’ve seen these huge discounts on real estate shrink to about 3% or less. Even with Orlando short sales, the banks are just not giving us the deep discounts that they were just a couple of years ago.

When I tell people that we’ve been specializing in doing short sales since 2005, they would ask with a bewildered look in their eyes “did short sales even exist back then?” or “how were you doing short sales in a hot market?” and the truth is that we just marketed to people that were in foreclosure and tried for the short sale with the bank and they were accepting these jaw-dropping low ball offers. And believe it or not our closing rate on short sales back then was about 85%.

I believe that the lenders were always a bit behind when it came to knowing what was really happening in the real estate market, there seemed to be a delay, kind of like getting today’s newspaper next month. Within the time it took them to catch up to what the reality really was, home buyers were getting some really great deals on Orlando short sale properties,  especially cash investors that we’re able to buy multiple properties at one time.

These days it’s evident that lenders are more “on the ball” when it comes to knowing what the true market value of a property really is.

I think it’s pretty obvious to everyone that the Orlando real estate market is getting hot again and we’re not done yet. We’ve had buyers just a few months ago that didn’t want to pull the trigger and buy yet because they wanted to hold out for a  better deal, against my advice. When they contacted me again recently they didn’t like what I  had to say, not one bit. These same buyers are now scrambling to buy a property with a great sense of urgency. This holds true for a lot of people who thought that the market was still on a decline.

With very little inventory out there, prices continue to rise and it looks like this trend will continue for a while. Every new Orlando listing that we get in our office ends up getting a contract on it within three or four days.

Some properties fall short on the Appraisals

When an Orlando property gets listed for a certain price many times buyers will submit a contract for thousands of dollars over the asking price. The problem lies when it’s time to get the property appraised and the numbers are just not there. As solid as the market appears to be right now, appraisers are being more careful when doing their job. Appraisers get their numbers from properties that have been recently sold in the neighborhood so that means there’s not much wiggle room on what they can do or what they’re willing to do.

Before the real estate market crashed in 2007, appraisers along with a whole lot of other real estate professionals got into some big trouble for bending the rules to benefit their clients as well as themselves. These days appraisers are more “by the book” than ever and I think it’s a good thing.

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

This field is for validation purposes and should be left unchanged.
TOC*