Category: Real Estate

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[...]

Why Sellers Ignore Their Realtors’ Advice           

The real estate market has always fluctuated, with various issues impacting how economists view the strength of the real estate industry as a whole. In a recent study, several housing markets, including the Tampa-St. Petersburg market, were considered overvalued, meaning the prices were not sustainable long-term. This news has started to alarm both buyers and sellers, encouraging some to hurry forward with their real estate transactions. Buyers worry that they will have a harder time qualifying [...]

Tips for Purchasing a Short Sale Property

Purchasing a short sale listing gives buyers a unique opportunity to acquire an attractive home at a discounted rate. Unlike a foreclosure, most short sales have been occupied either right up to the sale or have only been unoccupied for a very short period of time. This reduces the chances of a buyer having to spend a great deal of money rehabbing a property and cutting into their potential profits. If you and your real estate clients are looking at short sale properties, here are a few tips tha[...]

Pre-Closing Checklist for Sellers

Over the past few years the Florida real estate market has fluctuated wildly, creating apprehension for both buyers and sellers. In 2017, the market experienced a strong rebound, making it possible for sellers to benefit from rising property values. Sellers who want to benefit from the pricing increase and slight inventory decrease are eager to list their properties, expecting a quick sale. Unfortunately, even in a seller-friendly market it is possible for a small oversight to sour or completely[...]

What Not to do After Qualifying for a Mortgage Loan

Finding a lender is probably the most important step in the home buying process. Shopping for a house knowing that you have been pre-approved for a certain amount gives both the buyer and seller a sense of security. Unfortunately, some new homebuyers do not realize that getting pre-approved for a mortgage loan does not guarantee that the bank will pay the seller at closing. Making certain financial choices after being prequalified can drastically decrease your chances of having your loan funded.[...]

Tips for Managing Last Minute Disputes Between Buyers and Sellers

The process of buying and selling real estate is stressful, especially if the buyer and seller are not getting along. During a high stress transaction, it is not unusual for one or both parties to grow frustrated over a perceived error in a contract, miscommunication regarding repairs, or a dozen other small issues. Often real estate agents find themselves acting as mediators in an effort to get both parties to closing so that the sale can be completed. These tips for managing last minute disput[...]

Title Problems That May Delay Closing

Prior to scheduling a closing date, the title of the property must be checked to ensure that it is clear with no encumbrances. While most closings go smoothly, it is not uncommon for title problems to crop that delay the real estate transaction. Being aware of these potential issues helps prepare you for all eventualities. More importantly, knowing about title problems that may delay closing allows you to better serve your real estate clients during a high stress period in their life. Liens on P[...]

Four Things to Check Without Your Clients Present

  Getting ready for closing is a stressful experience for buyers, sellers, and their real estate agents.  Prior to closing taking place, a real estate agent and the client will usually walk through the property one last time. While the average agent will have a checklist of things to be on the look out for, it is not unusual to be blindsided by something that you and your client are unprepared to deal with. One way to avoid these unpleasant surprises is to have a short list of things to c[...]

Fatal Oversights on the Road to Closing

Most real estate agents spend the majority of their time preparing themselves and clients for closing. In the world of realtors, closing represents the finish line at the end of complicated race.  Unfortunately, there are certain things that can happen during your journey that make closing difficult or outright impossible. Acknowledging that fatal oversights on the road to closing exist will help you and your business prepare for eventualities that could severely impact your ability to get your[...]