Category: Real Estate

Advice on Handling Easements Attached to Florida Property

  There are a large number of real property concepts with which buyers in Florida are not familiar. One of these little understood concepts involves easements. Frequently, concern about easements arise after a person makes an offer on a home that has already been accepted. In these situations, the concept of an easement can make a substantial difference in the value of the property. The following takes a brief look at easements and recommends some considerations that realtors should make re[...]

The Common Challenges to Florida Real Estate Closings

  There are a number of complications that can present barriers to a successful Florida real estate closing. Unfortunately, these errors have the potential to add weeks and sometimes even months to the amount of time that it takes for a successful closing to occur. In these situations, it is often a wise idea to obtain the assistance of a skilled real estate attorney. It also helps to understand some of the common tips that can be used to make sure that this process proceeds as smoothly as [...]

Things to Consider Before Purchasing a Rental Property

  There are a number of reasons why purchasing rental property in Florida can be a wise idea. Like with many things involving finance, however, a buyer should understand some important details about purchasing property before deciding to do so. The information below review some of the important details that you should consider before purchasing a piece of rental property. Be Prepared to Perform Repairs Many property owners who only have a property or two discover that it is best to know how[...]

Reasons to Obtain Residential Property Surveys

  Home buyers in Florida are not required to survey residential property before closing on a new home. Despite this, it is often a good idea to perform an inspection to determine if one or more material issues exist that will have a detrimental effect on the value of a home. A survey lists all of the distinct characteristics about a home. In Florida, these surveys are performed by licensed surveyors. As part of survey creation, a licensed surveyor visits the property and records certain inf[...]

Recognizing Mortgage Fraud

Florida was recently ranked in a Core-Logic report as one of top three states in the country with a mortgage fraud risk. The other two states in the country with particularly high mortgage fraud rates include New Jersey and New York. Also according to the report, the risk of fraud in 2018 rose 10% as compared to 2017. In this current climate, Florida lenders must be particularly careful and proactive in preventing mortgage fraud. It helps to understand some of the important details about how mor[...]

What Florida’s New Private Beach Ordinance Means for You

  Earlier in 2018, Governor Scott signed a bill into law that had a substantial impact on beachfront communities in Florida as well as businesses in the surrounding area. While the exact impact that this law will have on many pieces of Florida property is uncertain, some people have responded to the law as a significant limitation on the rights of property owners. The Basis of Florida Beach Access Ordinances Beach access ordinances in Florida are based on the legal principle of “customar[...]

Florida Voters Poised to Increase Homestead Property Tax Exemption

Florida residents are poised to vote on an amendment called ”Increased Homestead Property Tax Exemption,” which if passed will give an additional tax advantage to homestead property that has an assessed value of greater than $100,000 and less than $125,000. Meanwhile, homestead property that is valued at greater than $125,000 would receive the entire savings. It is important to note that this valuation is based on the home’s assessed value rather than its market value. For qualifying membe[...]

What You Should Know About Fractional Investment

  Unfortunately, not everyone has the resources to independently fund real estate investment. To increase the number of people who are able to become involved in real estate investments, fractional investments were created, which allow several individuals to become involved in real estate projects. One of the effects of this new law has been that more people are now allowed to become involved with real estate projects. Many people, however, still have questions about how fractional investme[...]

What are Section 1031 Like-Kind Exchanges?

If you sell a piece of investment property, you will often be required to pay tax on it, as well. In situations in which a person then uses these gains to buy another piece of investment property, that person will likely be taxed a second time. Section 1031 of the tax code offers an investor the option to only pay taxes once on certain types of investment properties. Because Section 1031 can be particularly advantageous for investors, it is important for investors to understand how this section [...]

Reasons Real Estate Agents Suggest Remodeling

  Deciding to sell a house is never something that happens overnight. Changes in employment, financial circumstances, or family needs may all contribute to your desire to purchase a new home after selling your current one. Unfortunately, the news that you may need to make some changes to your beloved home may make the prospect of selling less appealing even after you have made up your mind. If you have been asked to update or remodel your home, it is important to know the reasons real esta[...]