Since the Great Recession made itself known in late 2008 and early 2009, the amount of cash-only real estate closings has risen (nationwide, it has nearly doubled). In fact, south Florida is a hotbed for cash-only real estate closings; the rate routinely hovers around 50 percent in the Fort Lauderdale area. Both buyers and sellers can benefit from real estate sales that do not involve mortgage financing. Why Read More
Obtaining Small Business Loans Under the CARES Act
If you own a small business that is suffering from the economic downturn caused by the COVID-19 pandemic, you may qualify for financial assistance through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This federal law, passed in March 2020, provides $376 billion in pandemic relief money for American workers and small businesses — those with fewer than 500 employees. Nonprofit organizations also Read More
Benefits of Converting Your Florida Business
For many reasons, it is not uncommon for business owners in Florida to alter the structure of their companies as needed. As revenues increase and your business expands, there will be new challenges and opportunities that simply cannot be addressed with the current structure. To help you prepare for a possible conversion, this blog will provide a general overview of converting differing businesses in Florida. Sole Read More
An LLC Operating Agreement Isn’t Required by Law, but You Need One
What are the hazards faced by a small business? We can spot the obvious dangers: direct competitors, suppliers who could destroy our bottom line with a single price hike and of course, legal troubles. But just as often, there are dangers lurking from within. Disputes among owners or partners are common reasons for even a successful business to go off course. Preparing for this possibility is not only prudent but Read More
Key Aspects of the CARES Act Provisions Authorizing Small Business Loans
Small business owners are necessarily prepared for various types of challenges, but what do you do when the government orders you to close for an indefinite amount of time? Unfortunately, the COVID-19 pandemic has put millions in this very difficult position. Even worse, it is still unclear in many places when authorities will allow businesses to reopen their doors, and what the U.S. economic landscape will look like Read More
Required Disclosures in Commercial Real Estate Sales
When speaking about purchases of any goods or services, there’s a saying as old as time: buyer beware. In common law, this is even considered a doctrine: caveat emptor. This legal doctrine comes into play in commercial real estate transactions. What this means is that the purchaser of a piece of commercial real estate has fewer protections relative to someone purchasing their first home or condo in Florida. This blog Read More
How Stay at Home Orders Are Affecting Real Estate Transactions
Purchasing a home is both an exciting milestone and an extremely stressful event. Even when things are running normally in the United States, people who are buying a property must deal with numerous moving parts and expenses. With nearly every facet of our lives upended by the global COVID-19 pandemic, prospective owners are faced with new challenges. Whether you’re in the middle of a property transaction or are Read More
Three Expensive Surprises That Can Ruin Your Home Purchase
A real estate purchase, due to its complexity, high stakes and regulatory aspects, is unlike most any other type of transaction. Every parcel of land, with or without improvements, is unique, so transfers of ownership require careful preparation based on analysis by a skilled professional. Here are a few of the mistakes that home buyers should avoid: Overextending yourself financially — Let’s say you find that Read More
Business Contracts in the Time of Coronavirus
As everyone’s lives are upended due to the coronavirus pandemic sweeping every corner of the world, business as usual seems almost impossible. For example, what about that seemingly rock-solid business contract you signed last fall? Performing as specified under it seems almost impossible now. So, what are business owners and managers like you supposed to do? To provide a bit of guidance in these uncertain times, we Read More
Employees vs. Independent Contractors: Differences and What They Mean for Your Business
In this hyper-connected, globalized economy and workforce, there have been massive changes to people’s money-making habits. It is extremely rare these days for one worker to stay at one job for more than a decade. Workers’ starting and ending their career with the same company happens far less frequently than in years’ past. This newfound mobility and flexibility has brought about the rise of the “gig economy,” in Read More
