Jennifer Slone Tobin, Co-Chair of the Real Estate Practice Group at Shutts & Bowen LLP, was recently quoted in the Orlando Business Journal, addressing unforeseen issues that COVID-19 has created for real estate clients.
The article featured thought leadership from Jennifer and other individuals from Central Florida’s largest real estate and construction law firms, on the prominent industry challenges that have come about in the last couple of years. According to Jennifer, many COVID-related issues had to do with timing and the ability to complete due diligence.
“For example, it is almost impossible to get a survey in less than four to five weeks, when two to three used to be the norm,” said Jennifer. “Inspection periods on deals – especially in this seller-friendly market – often are 30 days, meaning clients are having to take that into account in negotiating purchase agreements.”
Jennifer went on to explain that staffing issues have created a significant lag in title commitment production, while other timing delays have impacted the ability to obtain zoning reports and zoning confirmations from local jurisdictions.
To see Jennifer’s comments in the trend article, “How has COVID-19 Created Unforeseen Issues for your Real Estate Clients?,” click here.
About Jennifer Slone Tobin
Jennifer Slone Tobin is a partner in the Orlando office of Shutts & Bowen, where she is Co-Chair of the Real Estate Practice Group. She is Florida Bar Board Certified in Real Estate Law. Jennifer has a diverse real estate practice. She represents developers in the traditional areas of acquisition, development, permitting and financing of vacant, rehabilitation and operating properties. Her developer representation has included most of the traditional financing providers, including traditional bank loans, CMBS-style loans, insurance company loans, and full-recourse and non-recourse debt. She also assists developers with the negotiation of joint venture agreements with equity investors, including state retirement funds, venture capital companies and large investment firms. Her developer side practice also includes advice on construction contracts and other similar agreements with consultants for new development and rehabilitation projects. She also represents lenders, primarily loans secured by real property, but also with traditional business lending.