Prospective buyers likely know that an approved mortgage is just the first step. Other costs can come up before we finalize the sale of a home. Some that often comes as a surprise can include: Down payment. This portion is generally separate from the mortgage. The...
Real Estate Transactions
Should I buy property in Florida?
From warm weather and sunshine to tax benefits and quality of life, these are just a few common reasons people consider making the move to Florida. Those who are thinking of this move are not alone. According to the most recent data, over 318,000 people relocated to...
What is the most important thing to know about real estate contracts?
Buying real estate is often our single biggest purchase. This is true whether buying a single-family residence, rental property, commercial property, or vacation home. This investment is significant, so it is important to do a little due diligence before moving...
Two things to know before buying land and building in Florida
Florida is a lucrative location to own land for many reasons. The weather is wonderful, the business opportunities seemingly endless, and the taxes low. Whether looking to build a dream home or a commercial property there are a few important things to know before...
Can I get out of a real estate contract?
You thought you found a dream property. You put in an offer, the buyer accepted, and you started making plans for the big move. While waiting for this transition, you start to have second thoughts. Maybe rising interest rates have you concerned about the expense of...
When is a condo the right choice for me? Three examples.
Making a move is a big deal. This is true whether that move is down the road or across town. You will need to go through your belongings, figure out what is worth moving and what is worth donating or tossing and then pack it up for the move. Add in the expense that...
What should I know about 1031 exchanges in 2023?
A 1031 exchange, more commonly known as a “like-kind” exchange, is a legal tool that allows real estate owners to exchange pieces of property and defer capital gains taxes. This generally applies to investment or business properties. In the past, there was the ability...
Real estate and capital gains: 3 things to know
Property owners who sell real estate at a profit may need to pay capital gains taxes. The reasoning is basically that the Internal Revenue Service (IRS) views the gain in value as a form of taxable income. The IRS generally applies a capital gains tax to the value of...
When do I need a real estate attorney?
A real estate attorney can serve a number of functions. Common examples include: · Title work. A title search checks for issues that could hinder the transfer of ownership of property. An attorney can complete this search and help to resolve any potential legal...
Is that second property a good buy? Two times the answer is yes.
Buying a second property is a big step. Although it is never possible to know with certainty that the risk will lead to reward, two situations that increase the odds of success include the following. #1: The property is in line with future goals It is important to...