For many Florida homebuyers, the biggest obstacle to homeownership isn’t qualifying for a mortgage—it’s coming up with the funds for a down payment and closing costs. Fortunately, Florida offers a wide range of down payment assistance (DPA) programs designed to make buying a home more accessible.
Every year, you will receive a notice stating the amount due for your property taxes—even if you pay your annual property taxes through your mortgage escrow. It is very important that you review this notice carefully for accuracy.
Unless you are knowledgeable about tax laws, you’re likely wondering what FIRPTA is and how it works. Don’t worry; you aren’t alone. We’re here to help you understand all of the ins and outs of FIRPTA in real estate:
Going into your home closing, you’ll need to know how you plan to hold your Florida title. Whether you’re a first-time homebuyer or you’ve closed on several Miami homes in the past, this question is often overlooked until closing day. In Florida, there are several ways to hold your real estate property title. Since your closing agent won’t be able to offer advice or suggestions, you’ll want to be able to make an informed decision going into your closing day.
Closing on a Florida home may not be as easy as both the buyer and seller agreeing on the price and the terms. If the home you’re hoping to purchase is in a homeowner’s association (HOA) or Condominium Association , there may be restrictions that you might need to consider. The closing of your home could be stalled or even blocked entirely without association approval.
Real Estate wire fraud is increasing at a drastic and alarming rate and can happen to anyone. It is something that all home buyers should be aware of and watch out for throughout your home buying experience. In 2018 alone, the FBI reports that over 11,000 people were victims of wire fraud in the real estate and rental sector alone with a whopping $150 million. This figure is a 17% increase from 2017 and continues to rise. We’ll discuss the ins and outs of real estate wire fraud and how you can prevent it from happening to you.
When buying or selling real estate, many people assume that title insurance protects against every possible issue related to a property. While title insurance is a critical part of a real estate transaction, it’s important to understand its limitations—especially when it comes to building permits, code enforcement cases, and violations
Title insurance does not cover governmental or regulatory compliance issues unless those violations have already turned into a recorded lien.