How to Avoid Probate in Florida

 

Avoid Probate in Florida

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You probably have heard some horror stories of how when somebody died that intended to leave his/her property to their kids, that they couldn’t because all the costs involved in long litigation, there is a way to avoid this consult with a probate attorney.

What Happens During Probate

During probate, the court appoints a personal representative, also known as an executor, to oversee the administration of the estate. 

The personal representative is responsible for inventorying and valuing the deceased person's assets, paying any debts or taxes owed by the estate, and distributing the remaining assets to the beneficiaries named in the will or, if there is no will, to the heirs according to state law.

If the deceased person owned a home, it may be subject to probate and be included in the distribution of the estate's assets. If the home is not specifically bequeathed to a specific beneficiary in the will, it may be sold and the proceeds distributed to the beneficiaries according to the terms of the will or state law.

It is important to note that the probate process can be time-consuming and costly, as it involves court fees and legal expenses. It is possible for a person to lose their home as a result of probate if they are unable to pay these expenses or if the home is sold to cover the costs of the probate process.

Some Ways to Avoid Probate in Florida

Probate is the legal process of administering a person's estate after they die. If you want to avoid probate on your home, there are a few steps you can take:

Hold the property in joint tenancy: If you own your home with another person as joint tenants, the right of survivorship means that the surviving owner automatically becomes the sole owner of the property when the other owner dies. This can help avoid probate because the property does not need to go through the probate process to transfer ownership.

Hold the property in a trust: Another way to avoid probate is to hold the property in a trust. A trust is a legal entity that holds legal title to property on behalf of a beneficiary. If you create a trust and transfer ownership of your home to the trust, the property will not need to go through probate to transfer ownership to the beneficiaries named in the trust.

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Use a transfer-on-death deed: Some states allow you to use a transfer-on-death deed to transfer ownership of your home to a beneficiary after you die. This deed is similar to a will in that it specifies who should receive the property when you die, but it avoids the probate process because it takes effect immediately upon your death.

Use a life estate: A life estate allows you to retain the right to live in and use your home for the rest of your life, while also transferring ownership to a beneficiary upon your death. This can help avoid probate because the beneficiary becomes the owner of the property immediately upon your death, without the need for probate.

It's important to note that each of these options has its own legal and financial implications, so it's a good idea to consult with a real estate attorney or financial advisor to determine the best option for your circumstances.

See Details, I will Contribute 10% of my Professional Fee toward your Closing Costs!

Thank you for the trust placed in me,

Antonio Ortega LLC

                   
        

www.AntonioOrtegaLLC.com     For Residential Properties

www.AntonioOrtegaLLC.net       For Commercial Properties
        

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Things to Do Before Hiring a Florida Real Estate Agent

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Contacting a Florida Real Estate Agent

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Are you ready to buy or sell a home? Before you do either, there are some basics you can cover in order to create a seamless process for everyone involved. Below is essential information on what steps you can and should take before hiring a real estate agent, brought to you by real estate pro Antonio Ortega LLC of Global Luxury Realty, LLC.

Prepare

Buying or selling a home is a huge transaction. There are key preparations on both sides of the process. Homebuyers should begin to get their finances in order before applying for a loan for a loan. Sellers should ensure they’re truly ready to sell by being emotionally and physically ready to part with their home. Sellers should also get their home into shape so that it can be seen in the best possible light.

It is also helpful to learn about mortgages so that you are prepared before committing to one. The simple definition of a mortgage is a loan that you take out to purchase a home. It requires good credit and an income that shows you can pay back the loan to secure one. It is best to get pre-approved for a mortgage before you seriously begin house hunting so that you are prepared if you want to pull the trigger on a great property. Pre-approval will also help you to see how much you qualify for and, more importantly, how much you can afford to repay monthly. This information will help you to determine which homes are in your price range.

I have excellent Mortgage Brokers / Lenders on my team.

Massive Market Exposure is Important

Through our connections we’ll enlist the Help of 1000’s of Local Real Estate Agents, in our immediate area alone there's more than 50,000 agents.

I’ll do Local Advertising and add your listing to the most popular National and International Home Search Sites.

Massive Market Exposure 250 Associations throughout the US.

My degree of Participation allows me to offer my clients Massive Market Exposure.

Your home will be featured in over 700 of the Nation’s and the World’s Best Home Search Sites and in different languages because most of the world is interested in South Florida.

We'll Show you How to Prepare your Home for Sale you don't have to spend a lot put money in improvements that will get you the most bang for your dollar.

What Do You Want?

For buyers, it’s vital to decide what is desirable in a potential property. There are several aspects to consider, such as proximity to your workplace, how much space you need, and your plans.

If your family is growing, you may want more bedrooms than you need right now, or if you recently sent your kids to college, downsizing may be right for you. Do you prefer a close neighborhood, or do you need room to breathe?

Prepare Your Wallet

Learn how much you can afford first and foremost. Get a budget together based on what you make and what you pay out every month and check the status of your credit rating. Cleaning your credit report and maximizing your score can make for a better rate on your loan.

Once your credit report is in shape, set aside funds for your down payment as well, and save money for unforeseen moving expenses. When those steps are complete, talk with a lender to get pre-approval on a loan.

In addition to prepping your finances, you’ll want to be sure to get your property in order. First and foremost, bring basic maintenance up to date. Clean gutters, make lingering repairs, tidy your landscape, and remove any dead or damaged trees.

Planning to Sell

The most successful home sales begin with preparing well in advance of listing the property. Making basic repairs is the first and foremost priority, so if your roof is damaged or a faucet is dripping, take care of it ahead of time. You’ll also need to take care of routine maintenance. Clean your gutters, refresh paint, and deep clean your carpets.

Then do some editing by decluttering your home of personal décor and displaying your space well. Clean your home from top to bottom and make small changes to update your house. 

Home Inspections

Both buyers and sellers can use home inspections to their benefit. Obviously, buyers use the inspection to ensure a property is move-in ready. A home seller should get an inspection early in the process to take care of issues before listing the home.

See Details, I will Contribute 10% of my Professional Fee toward your Closing Costs!

Preparations are key to buying or selling a home. Do your part to get ready for your next big adventure and hire a realtor to help you with all the details. Taking the basic steps mentioned above will set you up for success!

Buyer Important Facts to Know

Be it today, tomorrow or six months from now, I'm prepared to offer you dedicated extraordinary service, your referrals are greatly appreciated.

Thank you for the trust placed in me,

Antonio Ortega, LLC Fort Lauderdale

                   
  

www.AntonioOrtegaLLC.com     For Residential Properties

www.AntonioOrtegaLLC.net       For Commercial Properties

            

Visit our Website:  www.SouthBrowardHomesbyTony.com

Antonio Ortega LLC Licensed Real Estate Professional

Text or Call 954-648-6095

Global Luxury Realty, LLC

Click Here to Contact Us

What to Do with Your Remodeled Fixer-Upper

 

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Selling your Ft. Lauderdale fixer-upper Home

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The remodeling phase of your Ft. Lauderdale fixer-upper house is complete, and it is finally ready for occupants. Now comes the decision on whether you should sell the home or rent it out. Both options have advantages and disadvantages. Here are a few things to consider as you make this important decision.

Sell for a Profit

South Broward is typically a hot real estate market popular with retirees, families, and single professionals. Selling your home at a profit gives you the needed cash to fund your next flip. To get the most return on your investment, hire an experienced, bi-lingual local real estate agent. Antonio Ortega knows how to manage every stage of your home sale. 

Research by realtors reveals that staging your home helps buyers visualize living in it, possibly leading to a faster sale. If you have furniture and décor to move into the house, research South Broward movers by reading their online reviews. Look for well-referenced companies running deals or credits if money is tight. Once you've narrowed your choices, meet with the top three contenders to discuss your needs and get a quote. 

The True Value of Your Home in South FL

Consider the Landlord's Life

Collecting monthly rent on your finished property is a definite plus. The remodeled home should continue to appreciate as well. However, being a landlord takes money and time, so make sure you have both available before going the rental route.

As a landlord, you are responsible for finding suitable tenants and dealing with their issues if they become unruly. It's your job to handle the lease, collect the monthly rent and manage all the financial records. You are on call 24/7 for any issues on the home.

Ideally, you should have two months' equivalent of rental payments stashed away if needed. That's because you are the one who pays for home insurance, property taxes, homeowner's association fees, as well as all of the major repairs and some of the minor ones. In addition, you receive no rental income if your tenant expectantly moves out.  If you don't have cash on hand for these expenses, you could put your finances in a bind. 

As a landlord, it's your job to market your rental to potential South Broward county renters. An eye-catching banner advertising your listing on your social media pages or website is a great way to get the word out. Try this online banner creator to create customized ads that perfectly fit your Twitter feed, website, Facebook, or Instagram page. Various designs are available, so you're sure to find one that fits your brand. Then, personalize it with your text displayed in an attractive color and font. Finally, add a short video or animation to attract even more attention.

Hire a Property Management Company

Hiring a property management company is an excellent solution If you have the funds to maintain your remodeled home as a rental but don't have the time to be a landlord. An experienced Ft. Lauderdale property manager knows where to market your home and how to find a good tenant. This professional handles rent collection, maintenance, repairs, and all the financial documentation on your behalf for a fee.

Whether to sell or rent your newly remodeled fixer-upper depends on whether you have the extra funds to manage the rental. If not, your best choice is to sell it and reap the profits.

Buyer Important Facts to Know

See Details, I will Contribute 10% of my Professional Fee toward your Closing Costs!

Be it today, tomorrow or six months from now, I'm prepared to offer you dedicated extraordinary service, your referrals are greatly appreciated.

Thank you for the trust placed in me,

Antonio Ortega LLC Fort Lauderdale

                   
        

Visit our Website:  www.SouthBrowardHomesbyTony.com

Antonio Ortega LLC Licensed Real Estate Professional

Text or Call 954-648-6095

Global Luxury Realty, LLC

Click Here to Contact Us

Selling your Fixer upper home, Broward Homes For Sale, Broward, Plantation, Davie, Fort Lauderdale, Las Olas, Hollywood, Southwest Ranches, Cooper City, Weston, and other cities.

Build Equity Buy Stop Renting in Florida

 

Have you ever burnt money?

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I know someone that went through a divorce and rented for four years then added up the cost of renting it came up to $100K and right away he decided to buy rather than throw his money away! It's like he burnt a $100,000

You may not have literally burned up bills but if you're still paying rent, it amounts to the same thing. When you buy a home, you own something solid, real, and something full of value. For many people, building equity by buying your own home is one of the most lucrative investments you can make.

Instead of dealing with your landlord's choices, you get to set the rules. Go ahead, adopt that amazingly cute puppy you've always wanted. Paint your kitchen in bold, beautiful colors. Plant your veggie garden in the sunny spot in your backyard.

It's a battle you don't have to fight anymore

In today's rental market finding an affordable place to live can be tough. And just because you find a place that doesn't break the bank this year doesn't mean your rent won't go up once your lease is up.

When you buy your own home, you can protect yourself from an out-of-control housing market and stabilize your cost of living. No more rent hikes. No more frantic searches for a decent place to live in your favorite neighborhood.

Stability and Peace of Mind

Moving from rental to rental is obviously a financial inconvenience, but it can also be a significant emotional burden. When you don’t know for sure where you’ll be living next, you also don’t know who your neighbors will be or where your kids will be going to school.

When you buy your own place, you make an investment in your home and your community. Enjoying friendships with neighbors, community involvement and stable educational opportunities for your children are just a few benefits of home ownership that you can’t put a price on.

PQ Letter or Pre-qualification Letter - Proof of Funds Letter if Paying Cash

Whether you are a first time buyer or have bought some houses before, I suggest that you get a Pre-qualification letter or Proof of Funds Letter if Paying Cash, especially after the COVID-19 outbreak.

Seller and sellers' agents prefer qualified clients, they don't want to be showing their houses to people that don't have a PQ Letter or Proof of Funds Letter.

Sellers don’t want to take their property off the market unless they know that the buyer is pre-qualified or pre-approved, so it’s very important to have one if you want your offer to be taking seriously.

If you are getting a Home Mortgage, I have an excellent Mortgage Broker / Lender on my team, that can give you a preapproval letter within hours, just let me know and I will have him contact you.

 

How Real Estate is Sold in Florida:

There is a Listing Agent and a Buyer's Agent, all offers are presented to the Listing Agent by the Buyer's Agent and the listing agent must present all offers to the Sellers.

Sometimes the listing agent is looking out for the interests of the Sellers, especially true at open houses, while I will be looking out for your interests.

Buyer Important Facts to Know

Thank you for the trust placed in me,

Antonio Ortega, LLC

           

www.AntonioOrtegaLLC.com     For Residential Properties

www.AntonioOrtegaLLC.net       For Commercial Properties

  

Visit our Secure Existing Homes Website:  www.SouthBrowardHomesbyTony.com

Antonio Ortega LLC Licensed Real Estate Professional with Global Luxury Realty

Click Here to Contact Us

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