Lessons Learned From the Surfside Condo Collapse in Florida

Considering the disastrous collapse of the condo in Florida, building inspections and structural inspections become more of a relevant factor when considering purchasing a property.

When purchasing a property, the protocols implemented and followed will ultimately protect the buyer from making a purchase that would be untoward in the long run. Such inspections include environmental factors, title defects, structural problems, and other title issues such as encroachment. Due diligence is more than a legal term; it becomes a safeguard against making a hasty decision without having all the facts.

Here are some steps that any real estate buyer should follow:

Engage a well-established and knowledgeable title insurance agency. They have decades of experience that can protect the long-term investment dollars buyers are putting into properties these days.

Title can provide information as to liens, taxes and other factors that can produce a defective title.

It is also recommended that the building inspector that you have to review the property be thoroughly vetted. Their report will form the basis for the property’s value and condition

Other factors may also include soil sample reviews and tideland issues.

The more information you can gather on a property, the more confidence you will have that what you’re paying for that building and the track of land is worth the money you’re putting down to buy it.

If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.

Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.

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