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The Basics of Franchising in South Florida

Fort Lauderdale Franchise AttorneyFranchising is a type of model that combines some of the aspects of working in corporate America as well as sole proprietorship. It’s a hybrid way to work in a business that fills an important gap between what it’s like to work for yourself as well as working for a small business or large corporation.

According to research, there are about 3,000 existing franchise brands operating in more than 250 industries across the United States.

Begin with the Basics… There are two primary forms of franchising. The first is known as trade name or product franchising. This means that you own the right to a trademark or a name and you can license or sell the right to use the particular trademark or name.

Bear in mind that franchising is not actually its own industry. Instead, it’s a method of doing business that could be applied to numerous sectors. It’s always a good idea to hire a franchise attorney in Fort Lauderdale before initiating a business relationship.

Check out this site here to learn about what a Fort Lauderdale franchise attorney can do to help.

Business Format Franchising… On the other hand, business format franchising is based on a more complicated relationship with a franchisor, who provides franchisees with a broad spectrum of support and services. In return, the franchisees sign legal agreements about how they will conduct operations regarding rules that are set by the franchisor.

Franchising Is a Team Effort… In order for any individual franchisor to achieve success, you must be able to operate an individual unit over the course of a long term. The success of a brand is based on an ongoing and solid relationship and communication between the franchisee and franchisor.

Read more about how franchising in Florida works here.

Franchising Can Be One Way to Build on an Existing Business Base

The greatest appeal for individuals getting involved in franchising is that they have an opportunity to secure their own future by building on a business model that has already been created or tested.

This also removes some of the costs associated with building a business from the ground up because many of the rules and necessary items in order to launch a business are already included when it has been created by a franchisor.

The franchise model has become extremely popular in recent years for investors and wealthier individuals who want to purchase more than one unit at a time. For example, an investor might purchase all franchise units within a particular geographic area.

Another popular aspect of franchising that is on the rise is known as multi-brand franchisees. This means that the franchisee has numerous brands under one single organization.

This helps the individual to capitalize on economies of scale, efficiency and market penetration in order to improve profitability. The main reasons that a successful franchisee would look into additional brands is because they are looking for a new complementary brand or because they have already conquered the territory for the current brand.

Learn more about the franchising basics here.

How to Conduct Research About Franchising Before Getting Involved

When you are thinking about purchasing a franchise in Fort Lauderdale, you need to be knowledgeable about the main the company itself.

Here are some tips on what to ask before getting involved:

  • Ask for specific details and reports that can illustrate how the business has succeeded in other areas. This is especially important if the franchise is relatively new.
  • Analyze the franchise agreement in great detail. This is because you need to be clear upfront about everything you are responsible for in this relationship.
  • Have the franchise agreement reviewed by a franchising attorney in Fort Lauderdale so that you are aware of all of your rights and responsibilities under the agreement.

Do Your Homework with a Fort Lauderdale Franchise Attorney

When done properly, owning a franchise can be an exciting opportunity. You just need to remain knowledgeable about your options and the responsibilities you have to the franchisor so that there are minimal opportunities for conflict and problems down the line.

Visit here to learn more about how a Fort Lauderdale franchise attorney can help.

Florida Franchise Act: Explained

Many business owners dream about opening up their own franchise…but only a few actually achieve this. Owning a small piece of the pie of a company with a (proven) track record of success and profitability seems like it can’t miss.

Florida Franchise ActUntil it does…

You meet with the head honchos of a particular chain and they tell you that all of their franchise owners are reaching their goals and taking in major profits. You decide to go all in. You get a business loan, sign a franchise agreement, buy in, and off you go.

Except you aren’t reaping in profits and things look bleak. You think you may have been bamboozled by the company’s bigwigs and you start to think they were not completely honest with you. What do you do? Are you completely out of luck? Are you stuck with this loser of a franchise?

The answer to ALL of these questions is: maybe.

Florida has in place some franchise laws that are aimed at protecting franchisees in certain circumstances. So here is the Florida Franchise Act explained.

The Florida Franchise Act

Under the Florida Franchise Act (“the Act”), when selling a franchise in Florida, it is unlawful for the franchisor (the main company) to make any misrepresentations to the potential franchisee (you) about the chances for success or prospects; the required amount of total investment or; the franchisor’s efforts in establishing other franchises in the same market.

The Act essentially provides a mechanism for a franchisee to bring a civil cause of action (i.e., a civil lawsuit) against the franchisor if one or more of the above listed things may have happened.

Remedy

If a franchisee can prove to the court that the franchisor violated the Act, the remedy includes the return of all monetary investments made in the franchise and reasonable attorneys’ fees incurred for bringing the lawsuit.

Are you Doing Business in Florida?

One other very important piece of the Act is the definition of who can bring a lawsuit under the Act. The Act provides that “an individual, partnership, corporation, association, or other entity doing business in Florida” (Emphasis supplied) may bring such an action.

And the phrase, “doing business in Florida” is not exactly black and white given the few cases that have examined the issue.

Meet with an Experienced Business Litigation Attorney

Therefore, if you feel like a franchisor may have made misrepresentations to you when inducing you to enter into a franchise agreement, it is important that you discuss your case with a business litigation attorney who has experience with Florida’s Franchise Act. An attorney will advise you as to what facts and evidence may determine the outcome of your case.

Also Read :

How Common is Real Estate Fraud in Florida?

We hear about identity theft, white-collar crimes, and all sorts of fraud every day on the news and over social media. Even though buying or selling home is an exciting process, it can also be the worst experience…if fraud is involved. And, unfortunately, real estate fraud is on the rise in the state of Florida.

Real Estate Fraud in Florida

What are the Most Common Types of Fraud?

The most common mortgage and real estate fraud cases in Florida actually involve inflated appraisals and nominee loans (commonly referred to as straw buyer loans). A straw buyer loan is when an individual who qualifies to apply for a loan on behalf of an investor who otherwise does not meet the requirements.

Inflated appraisals only take place when a certain property is sold and then repurchased at a higher cost through the use of title companies, corrupt appraisers, and many other involved individuals.

Obtaining a promissory note or mortgage of any means for the purpose of buying property through untruthful representation with an intention to defraud, like in the situation of a straw buyer loan or nominee, is unlawful in the state of Florida.

Steps in the Mortgage Lending Process

Under this particular law, the “mortgage lending process” refers to the following steps and transactions:

  • Application
  • Solicitation
  • Origination
  • Negotiation of terms
  • Third-party provider services
  • The signing, underwriting, closing, and funding of the loan

Which Areas Should I Be on the Look Out For?

Mortgage fraud is when an individual intends to defraud or use any material misrepresentation, misstatement, or even omission throughout the entire mortgage process.

There are several documents that are subject to fraud. They include (but are not limited) the following:

  • Mortgages
  • Surveys
  • Uniform residential loan applications
  • Other loan applications
  • Deeds
  • Appraisal reports
  • Supporting personal documentation for loan applications (i.e. credit reports and W-2 forms)
  • Inspection reports
  • HUD-1 settlement statements

General mortgage fraud and deceitfully obtaining a mortgage are both felonies.

Who Should I Call for Help?

In order to avoid fraud, it is highly recommended that you seek the services of a skilled and competent real estate attorney who is experienced in aiding investors and individuals through the real estate process.

He or she can also detect the most popular areas of fraud, and even help you to defend your assets, your rights, and above all, your future. Call us now! 954-449-4304.

Will the Proposed Overtime Pay Rule Impact Your Business?

Obama’s proposal to change overtime will create a dramatic impact on employees and their finances, but what it will really affect is local businesses. The President is seeking a change in current overtime pay rules, which will allow workers to receive more overtime pay if the proposed rule is approved.

Overtime Pay Rule
If you are not familiar with this rule, then it is important you familiarize yourself with it – and decide how it will affect your business.

What is the Current Rule?

The current rule states that employees who earn over $455 per week or an equivalent of $23,660 per year are exempt from all overtime rules listed in the Fair Labor Standards Act. The newly proposed rule will change the overtime threshold to those who earn $970 per week or equivalent of $50,440 per year starting in 2016.

This proposed rule is estimated to affect more than five million workers in the United States, which is about 40 percent of the country’s salaried staffers. This is estimated to raise worker pay by $1.3 billion – if it is approved.

Where is the Rule Change Now?

It is important for business owners to note that this rule change is only a proposal; therefore, it is not yet official. Business owners do not have to start paying their employees the overtime as of yet. The next step in changing this rule is having the proposed rule change published officially in the Federal Register.

This is overseen by the Department of Labor (DOL), which gives local businesses, citizens, workers, and lawmakers the change to voice their opinions about the change for the next 60 days. During these 60 days all concerns, requests, and so on will be taken into consideration.

Once the 60 days are up, the DOL will consider everything they have heard and possibly make changes to the rule based on what has been stated by the public. The final rule will only be adopted after this process is complete.

Why the New Rule Spells Disaster for Businesses

There are plenty of businesses around the country that are opposed to this proposed rule – and for good reason. According to the United States Chamber of Commerce, the new rule will especially harm small businesses. It has already been estimated by the Obama administration that if the new rule goes into effect, it will cost local businesses as much as $225 million each year in overtime costs. However, the National Retail Federation believes it will cost much more – estimating employers will pay $874 million.

How the Rule Will Affect Your Employees

If the rule does go into action, businesses will need to reexamine how their employees are scheduled – and most businesses will try to find ways to limit overtime that they traditionally allowed. If an employee makes less than the $50,440 threshold, and still works more than 40 hours per week, then they must be paid overtime. This accounts for more than 70 percent of workers in the country.

If, however, the employees make mostly executive decisions or play an executive role, then they are exempt from the overtime rule.

For your business, you may want to speak with an attorney regarding employee contracts and how these changes will affect your future staffing needs. An attorney can help you ensure you remain in compliance with the new changes – and especially with unauthorized overtime.

Contact Attorney Douglas Paul Solomon Today

If your business is struggling or you have concerns about your contracts and staying within the law, contact Attorney Douglas Paul Solomon today to schedule a free consultation.

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Are You Still Using a Personal Account for Business?

Whether you are a freelancer working from home or a local retailer, you should always separate your personal and professional finances. However, if you are like hundreds of business owners, you probably do not see the importance of separating the two – but not doing so can put your business and financial future at risk. Two bank accounts may be inconvenient, but using your personal account for business transactions can affect your legal liability in the end.

Find a fort lauderdale business lawyer

One of the first steps of starting a new business is opening a business checking account. By opening a separate business account, you can keep your personal and professional expenses separate – and most banks now offer free business checking accounts so you don’t have to worry about the extra cost.

Separate Accounts Offer Legal Protection

When you establish your business as an LLC or corporation, you separate your legal liability for your business from your private life. Courts will always consider a business separate from the person operating it as long as they prove that they are separate. If, however, you co-mingle your finances between professional and personal, then the courts may not consider your private assets separate from your business after all. That means if someone sues you and the court enters a judgement against you, you may have to pay that judgement despite the fact you have business licenses separating your legal liability.

Also Read : 3 Legal Issues to Work Out Before Starting Your Business

Separating Gives Tax Advantages Too

There are numerous tax advantages to separating the finances as well. It doesn’t matter if your business is run out of your home or an official office, separate bank accounts offer you tax benefits. A separate account helps you avoid any unnecessary hassles.

For example, when it comes time to file your taxes, doing so will be easier when your finances are separate. That is because you need to file your taxes between professional and personal expenses separately – and it can be hard to distinguish the difference when you share a single bank account. The process of separating the two can be time-consuming and cumbersome and if you accidentally miss a potential tax deduction, you would have to go through the process of an amended return later on – which is more hassle than it is worth.

Keeping a separate account is just the smart thing to do. It makes for easier record keeping and if you ever end up using a professional accountant, you do not have to worry about sharing your private finances with that accountant. Instead, you give them access to your professional account and nothing more.

Also, the Internal Revenue Service has strict rules about home-based businesses and what can be deducted as a “business expense.” It will be easier to prove that it is a legitimate business expense when you use a business account rather than your personal checking account for the purchase – even if the personal checking account purchased a legitimate business expense.

For more ways to separate business from personal, contact Douglas Paul Solomon for a free business consultation. We offer no obligation consultations for new and established businesses – so get started today by calling (954) 449-4304 or visiting the office in Fort Lauderdale.

Also Read : Employment Contracts: The Most Easily Avoidable Errors That Cost Businesses

Top 5 Legal Errors Every New Business Makes – But Shouldn’t

Starting a new business venture is exciting – but it can be so exciting that new business owners may forget the law. There are some legal basic steps every new business needs to take to ensure they are getting their business off to the right start. If you are starting a new business, there are five critical legal errors you should make sure to avoid with your new company.

top business attorney fort lauderdale

Legal Error #1: Not Incorporating Early Enough

There are numerous reasons to incorporate early on – and most businesses use it as the first official step into creating their successful business. Other entrepreneurs do not see the value in incorporating – and often try to start their business as a sole proprietor.

If you are not incorporated, you need to realize that there is no separation between your professional and personal life. That means that if your new business venture fails or you have liabilities, you could be held personally liable for those debts or liabilities. If someone were to sue your sole proprietorship, you may have to pay the judgment in that suit with personal assets. This is the biggest advantage to incorporating – not to mention the tax benefits.

Legal Error #2: Not Getting a Business License

It is against the law to not have a business license. No matter what type of business you are running, it needs the proper permitting and licensing through your state and city. You may even need a federal license – depending on the type of business you are starting. Home-based businesses are the biggest offenders, because home-based entrepreneurs assume that they don’t need a license if they are working from home. The truth is, they usually need a license and often a special home-use permit to operate their business, even out of their house.

Business licenses are cheap – generally less than $100; therefore, there is no reason not to get one. If you don’t, you could pay thousands in fines.

Legal Error #3: Not Using Contracts

Even if you work on your own, you will have a client or a vendor that you eventually need to do business with. While you may feel confident about what is agreed to verbally, you should still get everything in writing to protect your business. A written contract can protect your business. If you have proprietary information, do not forget to have employees, clients or vendors sign a non-disclosure to protect that information.

Legal Error #4: Not Protecting Your Logo

When you establish a logo, it helps establish your brand. If you do not trademark that logo, the value of that logo can easily go out the door. A competitor can quickly scoop it up to use it as their own – and sue you for illegally using it.

Legal Error #5: Not Getting an Employer Identification Number

When you establish a business, you need to obtain an employer identification number from the Internal Revenue Service. This EIN works like your business’s social security number. It is what you see to file taxes, apply for credit and even open accounts. EINs are also required once you start hiring employees and need to file their wage and tax information. Most states direct you to the IRS website to obtain an EIN when you open your license online, but if not, you can easily find the site online and apply via the IRS.

Avoid Costly Mistakes with Your New Business – Hire a Business Attorney

There is no need to jeopardize your new business. Contact best business lawyer Douglas Paul Solomon for a free consultation regarding your startup. We can help you find the right contracts, structure your business and get off to a successful start. Call us now at (954) 449-4304 to schedule your free consultation.

3 Legal Issues to Work Out Before Starting Your Business

When starting a business, there are a number of legal items to consider. The three most important involve permits, wages, and benefits. If you are starting a new business, you want to have the best start possible, which means discussing these three potential legal issues with an attorney first.

Fort Lauderdale business law lawyer

Permits

You need a business license to operate legally in your state as well as within your city. Not having a license could result in a business closure, fines, fees and additional penalties for operating without a license. Also, you may have applicable permits your business needs – especially if you are serving alcohol or if you are working out of your home. Your attorney can help you identify which permits are applicable to your business and even assist you with applying for those permits.

Wage and Compensation Laws

The federal minimum wage is currently $7.25 per hour. If you are not paying your employees the minimum wage requirement, then you are in violation of Department of Labor regulations – and could face serious fines.

You will also want to consult your attorney about special state requirements as federal and state requirementswill often conflict. Under the law, you are required to pick which regulation best benefits the employee, which can be difficult to determine.

Healthcare and Benefits

If you are not familiar with the federal insurance requirements for your employees, now is the time to learn. Ask your attorney if they apply to your business or if you have other special healthcare requirements that do apply to your business. You will have several options for offering healthcare under the new law, which include:

  • Offering healthcare through a private marketplace.
  • Offering healthcare through the exchange system.
  • Opting to not offer healthcare and then paying the penalty for doing so.

Offering healthcare is still a business owner’s choice and if your business has 50 or less employees that are not full time, you can use any of the three above options.

Confused About Legal Issues? Contact Attorney Douglas Paul Solomon

If you are not sure how to address these three legal issues, contact a Fort Lauderdale business law attorney Douglas Paul Solomon for assistance with your company decisions. We can meet with you over a no obligation consultation, discuss your business and help you decide the best way to approach these issues. Call now to get started.

Top 5 Potential Legal Issues for Landlords

The landlord-tenant relationship has never been one that is shone in a positive light. But, it is important to realize that most issues that arise between the two parties are easily preventable. If landlords take the time to learn their rights, and take the proper steps to protect themselves and their property, then these relationships could go a lot smoother.

legal issues for landlords

If you are a landlord, you may have potential legal issues lurking in the dark—waiting to pounce when you least expect it. But by being prepared and correcting these issues, you may just have one of those remarkable tenant-landlord relationships that most wish they could have.

Potential Legal Issues You Need to Correct

These five potential legal pitfalls put your real estate business at risk. But the good news is you can correct them before they become a true issue.

1. Using Old, Standardized Lease Forms – You know that you need to have everything in writing, but if you use a standard application or even a standard lease agreement, you are already putting yourself at risk. Those basic forms are just that: basic. They don’t have the complexity you need for your specific property nor do they address any unique aspects of your rental property.

2. Failing to Return Security Deposits – A security deposit comes with a deadline. After a tenant has moved out, you are required by law to return that security deposit. Failing to do so could wind you up in small claims court.

3. Asking Illegal Questions – When screening your tenants, do you know about what you can and cannot ask? Landlords need to be careful about they ask—either in person or on a rental application. You are limited by law as to what you can request and asking the wrong thing could put you into hot water. Some things you should never ask are about disabilities, marital status, familial status, race, etc.

4. You Make Promises You Can’t Deliver – If you tell a tenant you will do something and you make those statements to make the property more enticing or safer, then you better see those promises through. All perks and promises should also be clearly stated in your lease agreement – so that there is no confusion later on.

5. You’ve Created Outrageous Late Fees – You have the right to charge a late fee, but it has to be within reason. If you are charging $100 per day for every day the tenant is late, and the rent totals $500 a month, then this might be beyond reason. While coming up with a figure is difficult, you do not want to look like you are trying to scheme.

Lastly, you should hire a real estate attorney to help you create your contracts and even screen tenants. An attorney knows what to write in a lease agreement and can customize it to your property, ensuring you protect your assets.

Contact Paul Solomon Today

If you have a real estate property, contact the Fort Lauderdale real estate attorney at Douglas Paul Solomon today for a consultation by calling (954) 449-4304 or visiting our office in Fort Lauderdale. We can discuss your real estate transaction or even assist you with your business litigation issues.

Employment Contracts: The Most Easily Avoidable Errors That Cost Businesses

employment contractsYou already know the importance of an employment contract. But, how much time and effort have you put into drafting these complex, legally binding documents? Unfortunately, too many employment contracts fail to do what the business intended simply because they don’t take the time to learn the common mistakes—and avoid them.

These mistakes can cost your business hundreds (if not thousands) of dollars. Depending on the facts listed in your employment contract, you could end up in breach – even when the employee was the one that breached the contract. While it is always best to hire a business attorney that specializes in contracts, you should familiarize yourself with the most common errors and avoid them at all costs.

Lack of Consideration While Drafting

If the agreement is not supported by “consideration”, the employee may be able to justify their breach of contract. This often occurs when an employee is already working for an employer at the time with no agreement. Then an agreement is drafted. If no “fresh consideration” takes place during this draft of a contract, the courts may agree with the fact that the past none consideration is present in the existing contract.

Incorrectly Using Fixed-Terms and Fixed-Task Assignments in Employment Contracts

There are a variety of precedents that can be structured as fixed-term. A fixed-term or fixed-task employment contract is appropriate when an employer has a logical reason to limit the terms of employment, such as:

  • The employee is a maternity employee replacement, which is a temporary position.
  • The hire was for a specific job task or project and when that task ends the employment will end too.
  • The project is grant-based with a definitive completion date.
  • There are time-sensitive limitations to the project; therefore, if a date isn’t met, the project will not continue.

When terms are used inappropriately, however, it can affect the impact of the employment contract; therefore, employers need to understand how to properly use fixed-term contracts, and also when a fixed-term contract doesn’t apply.

Sloppy Termination Clauses

An employment contract can be terminated as long as it is within what is written in the termination clauses. But, if your termination clauses aren’t well written, you may not legally fire an employee even if you feel you have grounds. Your termination clauses are the only way out of the agreement without being accused of breach of contract.

Just saying that an employee will get a certain number of days or notice for their termination is not enough; instead, you must be specific as to what constitutes grounds for termination, how much notice must be given, and under what circumstancesthe employee will receive severance pay or any pay at the time of termination. Just some of the benefits that must be addressed in a termination clause include, but are not limited to:

  • Bonuses
  • Commissions that have been earned but not paid out
  • Base salary
  • Retirementbenefits
  • Sick pay or vacation pay that has been earned
  • Reimbursement for fees or professional purchases as part of the employment contract terms
  • Short or long-term disability coverages
  • Health insurance coverage

Not Having a Written Contract

While you may have an employment contract, if that employment contract is not written, you may have difficulty enforcing it later on. All employment contracts must be drafted in writing and signed by both parties, notarized preferably. Without any type of written offer, it is up to the judge to determine what was really decided in the agreement and just some of the things the judge will have to decide if you don’t have a written contract include:

  • Whether or not changes in the terms  and conditions is allowed;
  • Whether an employer can change the benefits of the oral contract;
  • What details must be present for a termination;
  • If a termination is valid;
  • Compensation for a breach of contract.

Using a One-Size-Fits-All Approach

The employment contract you create for one employee should never be recycled and reused on another. Every employee deserves a unique contract that discusses his or her particular employment situation.

Using the same contract for everyone could mean you limit special provisions that would have applied to a particular employee, and could mean you leave out important clauses that applied only to that employee’s position. For example, using the same contract on a temporary worker versus a full-time permanent worker. These are two very different positions with different employment expectations.

Tightening the Scope Too Much

If you have non-compete clauses in your employment contract, then you must be careful how they are worded and how tight you restrict your employees. You must be within reason under the law – such as not restricting the employee from working for a competitor within the entire country, but perhaps just the same city or state.

Confusing Contracts with Employee Policies

Employee contracts are where you sign on an employee to retain their skills and in return they receive something. If you are confusing that with employee policy enforcement, then you may have difficulty when you encounter a breach of contract. Employee policies should be written and enforced separately from employment contracts at all times.

Failure to Review and Update Contracts

You should regularly review your employment contracts and update them when their term expires. By regularly updating them you can make sure that you have accurate information in each employee’s contract and that you are still in compliance with the latest labor laws. Never just renew an employee’s contract; instead, always review it for any inaccuracies, clause changes or update it to reflect the employee’s latest benefits or even their new position.

Not Hiring a Business Attorney

A business attorney should be the individual responsible for drafting and completing all employment contracts within your business. If you are drafting contracts on your own, you are most likely leaving out imperative information – and you could even be writing contracts that will not hold up in court.

Hire the Business Attorneys at the Law Offices of Douglas Paul Solomon Today

If you want to protect your business with employment contracts, contact the Fort Lauderdale business law attorneys at the Law Offices of Douglas Paul Solomon today. We offer no obligation consultations for our business clients and we can discuss your employment contract case. Call 954-449-4304 to schedule your appointment today.

Closing On Your Home? Avoid These 3 Mishaps

In a perfect world, purchasing a new home would mean falling in love with the house, negotiating and paying the cost to the seller, and moving right in.

Unfortunately, this isn’t how buying a home works.

If finding your dream home at a price you can afford is the first important step, the final—and possibly most important—step is making it through the closing process.

closing on your home

A qualified real estate attorney can walk you through each step of the closing process, but you can start preparing yourself ahead of time by checking out three of the most common problems that go down at the closing table.

1. Failure to Complete a “Walk Through”

Generally, homebuyers do a “walk through” before completing the closing. This means they walk through the home to make sure no damage occurred between the time they decided to purchase the home and the closing date. However, some homebuyers forgo this option, or ask that the sellers provide money for any necessary repairs.

Typically, the sellers aren’t going to do this, and if damages have occurred, you’re stuck with damaged property—or no property at all.

2. Changes in the Buyer’s Financial Situation

As the homebuyer, your financial situation might change between the time you fall in love with the home and the time you sit down at the closing table.

Examples of financial changes can include:

  • Excessively using one or more of your credit cards.
  • Taking out an auto loan for a new vehicle.
  • Opening a new credit account.

Such financial changes can delay or cancel your mortgage—both of which present serious problems at the time of closing.

Fortunately, a real estate attorney with experience in home closings can help make sure you don’t make any of these mistakes leading up to the time to close on your new home.

3. Waiting until the End of the Month

Understand that things can go wrong when you close on a home, which means you might need a few extra days to get back on track.

Because additional fees can accrue if you enter into a new month, waiting until the end of one month to close—and running into problems on that day—can cost you. For example, usually prepaid interest due at the time of closing accumulates during the month; if you enter into a new month, new interest accumulates.

Whenever possible, try to schedule your closing several days or even a couple of weeks before the end of the month. Doing so will give you time to get your problems sorted out and get you back at the closing table before another month—and possibly additional fees—arrive.

Also Read : Critical Considerations before Purchasing Office Space

Are You Ready to Close on Your Dream Home? Hire a Skilled Real Estate Attorney

These are just three of the possible problems you can face during a home closing. A skilled real estate attorney can walk you through every step of the closing process, preparing you for these problems and more—and even helping you avoid them.

Before it’s time to close on your new home, contact the Law Offices of Douglas Paul Solomon online or by calling (954) 449-4304. You’ll receive a free consultation on how we can help making the home closing transaction as smooth as possible.

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