Collier County, Florida is unique for several reasons.\u00a0 Beautiful beaches, waterfront shops,\u00a0upscale residences and high end shopping are just a few of the things which make Naples a great place to live and work.<\/p>\n
Another thing that makes us unique is that we use our own form of sales contract.\u00a0\u00a0The contract is approved by the Naples Area Board of Realtors.\u00a0 In Collier County it is standard that the buyer pays for the title insurance while in Lee county, it is standard that the seller pays for the title insurance.\u00a0 In Lee county, real estate contracts are usually written on a FAR\/BAR contract, which has been approved by the Florida Association of Realtors and the Florida Bar.\u00a0 Both contract are well written and work well for real estate transactions.<\/p>\n
So what are the differences?\u00a0 One small difference in Collier County is that the seller has to give the buyer a copy\u00a0 of their prior title policy.\u00a0 If they cannot find the prior policy, they agree to give the buyer a credit of $150.00.\u00a0 This, of course if not the case in Lee county since the seller is paying for the title insurance.\u00a0 The reason for the $150 has to do with abstracts of title which will be better to explain in a future blog.<\/p>\n
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But one of the greatest differences has to do with the sellers remedy if the buyer does not close on the property.\u00a0 In Lee county, all deposits that the buyer makes or will make in the future are at risk as soon as the contract is signed.\u00a0 In Collier county, only the actual deposit the buyer makes will ever be at risk.\u00a0 This may sound like a small difference, but in fact if is very large – usually several thosands of dollars.<\/p>\n
When working with a real estate agent or attorney, make sure they know what contract is being used and the differences between them.\u00a0\u00a0 All attorneys are not familair with the differences in contract.\u00a0 When spending money on real estaste be sure to choose professionals that have years of expereince – you will glad you did.<\/p>\n\n\n\n\n","protected":false},"excerpt":{"rendered":"
Collier County, Florida is unique for several reasons.\u00a0 Beautiful beaches, waterfront shops,\u00a0upscale residences and high end shopping are just a few of the things which make Naples a great place to live and work. Another thing that makes us unique … Continue reading