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.
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.
While previous posts here have emphasized that buying a home is usually the most significant financial move most people will make in their lives, a close second is probably the decision to sell your home. But, many people don't realize the effort they will need to put in to make the most of this all-important cashing-in opportunity, and they are left asking themselves, "Just what exactly do I need to do when it is time to sell my house?"
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.
By now our readers probably know that many of the real estate deals concluded in South Florida these days are all-cash agreements. But, what many people may not know is that this also applies to real estate transactions involving properties with sales prices over $1 million.
For most prospective buyers getting into the real estate market, one of the key steps in the process is applying for a mortgage. This process can be a bit tedious, with the mortgage broker requiring loads of information before a decision is made. But, in South Florida, it appears that this part of the home buying process is being circumvented with more regularity.
Most people reach the point in life where they ponder this important question: "Do I rent or do I buy?" For some, there really isn't an option for the first few years of adulthood, as people are beginning careers and starting to build their savings accounts. However, once a South Florida resident builds a bit of financial security, they will often wonder where their money is best spent.