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Boca Raton Florida Legal Blog

Customized purchase agreements could benefit short sale buyers

Investors in Florida who pick up properties as short sales might get good value, but they must protect their interests. The purchase agreement forms the backbone of the deal just like any other type of real estate purchase. An investor has the option of working independently or partnering with a real estate agent. Either approach requires careful attention to the details.

An investor who pursues a short sale opportunity without an agent might wish to develop the terms of the purchase agreement with the advice of an attorney. Pulling a generic purchase agreement form off of the internet might not cover issues specific to the property, and the buyer would have no guarantee that the agreement complies fully with state real estate laws. Copying agreements used by local realtors without permission might infringe upon their copyrights.

The qualities of a good development licensee

If you need to know anything about successful small businesses, it is that innovation drives the marketplace. This means that cultivating new ideas is just as important as nurturing current products. While many would be entrepreneurs have fantastic ideas, getting them to the marketplace in a manner that will make a product successful is a completely different exercise. Because of this, some inventors and entrepreneurs may need help in the development process.

This is where licensing comes in. A license is an agreement between two parties (commonly an inventor and a development company) to use the idea for the purpose of creating a new product or service. Ownership of the idea does not change hands. It remains the sole property of the inventor. However, the collaboration between the two parties gives the development company some right to compensation after the eventual product or service is released to the public.

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