Fort Walton Beach Legal Blog

Bringing even straightforward real estate transactions to a successful close can be challenging in Florida, and stricter underwriting standards introduced in the wake of the mortgage crisis have added an additional layer of complexity to an already difficult process. Attorneys with experience in this area will be aware of this, and they may help property buyers and sellers, contractors, suppliers, developers, architects and property managers to anticipate potential snags and pitfalls and keep deals on track.

Real estate transactions often involve several parties who all have interests to protect, and being able to understand their positions could help attorneys to ensure that negotiations do not become sidetracked by disputes or misunderstandings. These issues may be especially concerning to property developers and investors as project timetables are often strict and even minor delays can be extremely costly.

Litigation can be a time consuming and expensive process, and businesses in Florida and around the country often choose to settle these matters at the negotiating table to avoid protracted legal battles. However, traditional negotiations and alternative approaches such as mediation do not always lead to an amicable resolution.

Monetary damages, which are known as remedies in law, are usually awarded to parties who prevail in court, but there are rare situations where judges may order the losing party to honor their commitments instead. 

Entrepreneurs in Florida who are interested in different ways to fund startups may consider using convertible notes. These notes are debts that change into equity when fundraising rounds take place.

One of the primary advantages of convertible notes is the simple way in which they are structured. It can take substantial money and time to execute startup financing rounds, and they can easily become complicated. In contrast, the financing for convertible notes are less expensive, less complex and take less time. Ownership stakes in the startup enterprise are sold in a priced round while the issuance of common stock or the creation of second-class shares are not necessary for convertible notes.

Entrepreneurs in Florida focus on their goals, but, realistically, debts will pave the path to their success. New businesses generally do not make a profit for three to five years. Until then, bank loans, credit cards and investors will supply the money to launch and operate a business. From day one, entrepreneurs must budget carefully and accept the inevitability of carrying debt for a time.

A startup budget involves the identification of all operating expenses, such as leases, wages, utilities, equipment and advertising. Amounts assigned to all categories should be well researched and as accurate as possible so that a business owner can establish spending limits and discover ways to control costs.