Upon the sale of real property, additional costs may be required by the buyer and/or seller in the form of Closing Costs. For buyers in South Florida, it can be as much as 2-5% of the purchase price. To name a few, the following is a list of known major Closing Cost items typically charged to the Buyer and/or Seller. Attorney fees, Abstract Charges, Hazard/Flood Insurance, Real Estate Taxes, Settlement Fees, Title Insurance, Prepaid Interest & Escrow, Real Estate Commission,

During a Real Estate Transaction you will be required to sign contracts that might use a bit of industry jargon. Ideally you will consult with your Real Estate Attorney to make sure the contract you're signing is in your best interest. At the minimum you should become familiar with the following terms so you can be more confident with understating and signing at settlement. Appraisal: Process in which a 3rd party called an appraiser, comes in and estimates the value of the pr

Your home is possibly one of the largest investments you will make in your lifetime. Your lender will require some basic coverage but considering the following might save you from future headaches. Protecting it with the right insurance policy should be a priority. When looking for a new home consider the following items and consult your insurance agent for quotes prior to purchase. 1.Do you have custom features in your home? Make sure your insurance policy covers them all. 2

Unless you or a family member have a need to move frequently because of job transfers or other reasons, you should be considering your options when it comes to your living arrangements. You could own a home for the price you pay for rent. Start Building wealth with a home of your own. Here's what you need to get started: 1. Good Credit: Generally a score of 650 or higher, although today, you might be able to have a lower score and still qualify. If you are not there yet, you

The owner's Title Insurance Policy protects you from defects that might exist in the Title prior to the issue date of the policy. Such defects might include the following: 1. Errors in public records 2. Unknown Liens 3. Missing Heirs 4 .Forgeries 5. Survey or boundary issues The insurance pays for the defense of any claim and/or lawsuit attacking the title as insured, and will either clear up the title problems or pay the insured's losses. For a one-time premium, the Owner's

When looking to buy a home for investment, many times a property that is rundown will obviously create more work, but potentially a greater return. At the same time the state of the house may be hiding other problems. It is very important to get a building inspection done. You should always get three quotes for all projects and carefully research contractors’ reputation and references. When remodeling, it is important to know what buyers look for in your area and prioritize a

Every transaction is unique, this flowchart is intended to provide you with an idea of the many ways in which a REALTOR® can help you naviga