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.
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.
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.
By the time you're starting to prepare for the real estate closing on the home of your choice, things are probably getting pretty exciting. The closing date is usually the day when ownership of the home is officially transferred, and the keys are dropped into your hand. It can certainly be a thrilling time for any home buyer, but there is plenty of work to do leading up to the big day.
As our Florida readers may have noticed, recent news coverage about the immigration crisis at our country's border with Mexico is leaving some people with an unfavorable view of potential immigrants to America, sometimes regardless of whether they are legal or not. This is unfortunate, but, for foreigners interested in purchasing homes in America, many as second home as they remain citizens of their home countries, it appears that Florida is creating the right type of environment for these real estate transactions.
Most South Florida residents are probably familiar with the investment technique known as "flipping." These types of real estate transactions involve a prospective buyer looking to purchase a property for a lower-than-average price, with the buyer then fixing up the property and selling it for a profit. This type of arrangement was very popular throughout many different real estate markets before the housing bubble "burst" several years ago, and since some areas have rebounded in recent years interest has regenerated in certain areas. However, according to a recent article, South Florida has been seeing fewer "flippers" as property values in the local area have increased.
Anyone looking for storm clouds to gather over the South Florida real estate market any time soon will apparently be waiting for quite a while. According to a recent report, the March home values in the region were 11 percent higher than in March of 2012. March was the last month data was available from the Case-Shiller real estate index, and the increase was reportedly the 15th straight month of gains.