Liquidation Sales Florida
Liquidation Sales Florida
Harborside Event Center SALE, Fort Myers, Florida?!?!?!?!?
Is the Super Liquidation Sale @ Harborside legit?
Perhaps. Or it could all be produced by Cuban Child Laber.
Orlando Florida – Homebuyer Tax Credit Changes
Many times when change occurs, it brings confusion. But the changes to the existing homebuyer tax credit law is a positive change for future home buyers. But in order to take advantage of this positive change, one must first understand the new legislation.
Here are some of the most frequently asked questions on the changes to the Homebuyer Tax Credit
Must the new house cost more than the old house? Answer: No. For example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit.
I am an existing homeowner, lived in my current home for 5+ consecutive years, and within the new income limits. The closing on my new home will occur November 18 and President Obama has signed the bill, will I qualify for the new $6500 tax credit? Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement.
I am a first time homebuyer but was not within the prior income limits at the time I entered into my contract to purchase on October 30, 2009. But I will be within the new limits of income in the new legislation. If the new rules have been signed into law by the time I go to settlement, will I be eligible for a credit? Answer: Yes. The new income limitations go into effect as soon President Obama has signed the bill. The income limit and other eligibility rules will look to your status as of the date of purchase (the settlement date). So if the new rules have been signed when you go to settlement, you should be eligible for the credit (or a portion of the credit if you’re within the phaseout range).
I am an eligible existing homeowner. I have found a home with a nonnegotiable price of $825,000. Will I be able to use any of the $6500 tax credit? Answer: No. The $800,000 cap on the cost of the purchased home is firm at $800,000. Any amount above $800,000 makes the home ineligible for any portion of the credit. The $800,000 is an absolute ceiling.
I owned my home for 10 years, but sold it two years ago year and have been renting since. If I purchase a home, will I be eligible for the $6500 tax credit if I meet all the other eligibility tests? Answer: Yes. Because you lived in the home for more than 5 consecutive years of the previous 8, you will qualify for the $6500 credit. For example, Say Pat and his wife Michelle bought a home in 2000 and lived there until 2008 when he got a divorce. Whether Pat has been renting or bought in the interim, he WOULD INDEED be eligible for the credit because he owned a home and occupied it as his principal residence for 5 consecutive years out of the last 8 years. The keyword here is “consecutive.” As long as he lived in that house for 5 years straight what he did since 3 years doesn’t impact eligibility.
I am an eligible first time homebuyer. I entered into a contract to purchase on November 1, 2009. Do I have to go to closing before December 1? How does the extension date affect me? Answer: You do not have to close before December 1. Once the legislation has been signed, it will be as if the Nov 30 date had never existed. Therefore, so long as the contract settles before April 30 (or July 1, worst case), the purchaser will be eligible for the credit.
If you are an existing homeowner or future home buyer, take advantage of this tremendous Buyers market we are currently in. When you add up the below market prices, historically low interest rates, and the new federal government tax credit there has never been a better time to own a home or upgrade your current home. Think about it!
About the Author
We are a professional Orlando Florida home buying company that buys houses at a discount and passes this discount on to our buyers. Interested living or investing in Orlando Florida? Contact us because despite what the media says, this is the best time to be in real estate. Please visit our website at www.BuyerFL.com or call 888-205-0715 toll free to complete our buyer questionnaire to help us better find your dream home.
In previous articles, I have discussed the importance of operating your business with a valid contract, the essential elements every Florida contract must have to be valid, and what happens when a breach of contract occurs. Lets review six common defenses that are often used to defend breach of contract claims. If you’ve been accused of breaching a contract, you’ll want to continue reading this article.
1. Statute of Limitations
In Florida, a breach of contract claim must be brought forward within five years. If not, the claim is permanently barred and will prevent the injured party from recovering damages for their loss.
2. Duress
When one or more parties are pressured, forced or coerced into a contract, this takes away the party’s free will and constitutes duress. According to the Florida court in Franklin v. Wallace, the person accused of breaching the contract can use “duress” as a defense to the alleged breach.
3. Implied Covenant of Good Faith and Fair Dealing
The implied covenant of good faith and fair dealing, which requires every party of a contract to act in accordance with the contract’s purpose, is commonly used as a defense to breach of contract claims. However, in Florida this defense will not negate the express terms of a valid contract.
4. Impossibility of Performance
When a party of a contract is unable to perform as per the contract terms due to circumstances beyond their control, this is referred to as “impossibility of performance.” In Home Design Center v. County Appliances of Naples, Inc., the court established impossibility of performance as a legitimate defense to some breach of contract claims.
5. Unconscionable Contract Terms
A contract may be considered unconscionable if the terms are unjust, unfair or outrageous. In these instances, unconscionably may be a reliable defense to breach of contract claims. In the Florida case Kohl v. Bay Colony Club, the court held that when the terms of the contract are unfair and unreasonable at the time the contract was entered into, unconscionability may be used as a defense to breach of contract claims in the Florida courts.
6. Unilateral or Mutual Mistakes
A unilateral mistake occurs when one party was mistaken about the terms of a contract at the time they entered into it. A mutual mistake happens when both or all parties of a contract were mistaken at the time the contract was signed. Under Florida law, if any party of a contract is mistaken about the terms of a contract at the time the contract went into effect, their mistake may be a legitimate defense for not performing as obligated.
If you’re being sued for breach of contract, it is imperative that you understand how to defend and protect your business and personal interests. Above we discuss a partial list of defenses that are commonly used in breach of contract claims. Depending on the facts and your circumstances, you may find one or more of these defenses applicable to your situation. You may also find additional defenses available to you that have not been covered in this article. So, do not delay. Protect your interests today.
Mark S. Schecter is the founder of Schecter Law, a South Florida law practice that emphasizes commercial litigation and real estate law in the Fort. Lauderdale area. The business law attorneys of Schecter Law have decades of experience negotiating contracts, drafting ironclad contracts for small and large businesses, as well as defending and enforcing contract terms. Retain a firm of experienced contract attorneys that specialize in business law to prepare ironclad business contracts that will protect your interests and your business.
