You finally did it. After years of hard work, you're able to afford the Florida vacation home you dreamed about during all of those long snowy months back home.
In a residential real estate deal, a prospective buyer can get distracted by how exciting it can be to move into a new home. The same excitement can also pop up in a commercial real estate deal, when a Florida business owner has just secured a new location for their business or a new office building for the company's headquarters. There is no doubt about it: taking over ownership of a piece of property in real estate transactions can be a thrill.
Buying a home in Fort Lauderdale can be exciting as well as a bit overwhelming. The capstone of most real estate transactions will be the real estate closing session. In most cases the path toward this moment has probably been a long one, most likely with a few twists and turns along the way. Still, when the day arrives, the excitement is usually palpable. However, some of our South Florida readers may not know what to expect at a real estate closing.
Most people would probably say that they attempt to save money whenever possible. For some homeowners in South Florida, that means that they will attempt to circumvent the realtor process when they are trying to sell their homes, instead opting to pursue the "for sale by owner" route. But, that process can be tricky as well, and there are more than a few steps to follow. In Part 1 of this multi-part series, we will take a look at some of the first steps that South Florida homeowners should probably take when they are beginning the "for sale by owner" process.
Many of our South Florida readers know from personal experience that real estate transactions often involve a multitude of documents. And, most people accept that this is just part of the process. But there are certain aspects of these documents that are much more important than some of the "boilerplate" legal language. For instance, what are "terms of sale"?
Of all of the legal issues an average South Florida resident could be involved in, a real estate transaction is oftentimes the most challenging to understand. After all, buying real estate is not like buying a gallon of milk - there are quite a few legal implications that most buyers and even sellers don't contemplate before entering into an agreement. One issue is titles.
Most people put a lot of thought and energy into real estate transactions. A real estate sale is oftentimes one of the most complicated and expensive transactions any Florida resident will be involved in, so the time and energy that is expended in order to make sure everything is right is usually time well spent. Unfortunately, there is one area where many people don't spend a lot of time: code and zoning violations.
Most real estate markets throughout the country are in a constant state of flux, and the South Florida market is no exception. But, the local market has been recovering better than most from the housing slide that hit the entire country a few years ago. As a result, many South Florida homeowners may see an opportunity to save some money.
From all of the real estate reports our readers have been seeing over the last couple of years, most people probably think that the local market has turned into a "seller's market." However, according to a recent report, some prospective buyers in the South Florida market may be able to find lower priced homes more easily nowadays.
Anyone who has ever bought and owned a home knows that there are quite a few expenses to deal with. If a prospective buyer goes into a real estate transaction only thinking about the purchase price of the property, they are not thinking about all of the costs associated with homeownership. One cost many people don't check out before buying a home is home insurance.