When a Fort Lauderdale resident has been refused a short sale or denied a loan modification and is underwater on his or her mortgage, they may consider a deed in lieu of foreclosure. This is a document that transfers title from the homeowners to the bank that holds the mortgage. The homeowner has to sign the document and it has to be notarized by a notary public.
When someone is about to conduct a real estate transaction, especially for the first time, they may not even be aware that they have to ensure that the person they are buying the property from actually has the title to the property to sell it on further. This may sound logical to Fort Lauderdale residents -- you can only sell the title to something you own the title to. However, one in every three searches through property records reveals a defect that has to be fixed before the real estate transaction closes.
A method that many Florida homeowners are using to sell their properties is to do it by themselves without having to use a real estate broker. The idea behind this is to avoid paying someone else for a process that might not need a go-between. However, there is a great deal of nuance when selling a property and those who are considering a for sale by owner (FSBO) should be aware of them. It can be profitable to sell a property without the need of a real estate agent provided certain aspects of this type of decision are fully understood. These include the terms of sale and other factors that make it unwise for the owner to do it all on his or her own.
When beginning a small business, not everyone in Fort Lauderdale has the financial ability to buy a new building for its office. Uncertain of the success of their endeavor, people often choose to begin working from their residential property, so they do not incur the cost of purchasing new property. They may decide to make subdivisions for offices or take other steps to utilize their property both for residential and business purposes.
When South Florida residents are involved in a real estate transaction, the mantra probably should be "plan for the worst, hope for the best." Sure, millions of Americans buy and sell homes every year, so how difficult can such a real estate transaction be, right? Unfortunately, many real estate sales will have complications that arise. But, the goal remains the same: get to the finish line -- the real estate closing.