Retain an Attorney Florida Real Estate Transactions

 

Attorney and Florida Real Estate Transactions

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When you are buying a property, you assume that the previous owner is up to date paying their taxes, and that they do not owe for any past repairs (Mechanic’s Liens).

You may also assume that they have closed all Opened Permits, Code Violations, etc. Unfortunately, often this is not true, and this has led to horror stories for countless amounts of buyers.

Most of these nightmares could be traced back to the fact that not enough attention was paid to details before presenting an Offer to Purchase. Once you close and the property is transferred to you, you inherit all the existing problems, Liens, Open Permits, etc.

There are several reasons why it can be a good idea to retain an attorney in a real estate transaction:

Legal expertise: An attorney can provide expert legal advice and guidance throughout the real estate process. They can help you understand your rights and responsibilities, as well as any legal issues that may arise during the transaction.

Risk management: An attorney can help you identify and mitigate potential risks associated with the transaction, such as title defects or encumbrances on the property.

Negotiation: An attorney can help you negotiate the terms of the transaction, including the purchase price, financing, and any contingencies.

Documentation: An attorney can review and prepare the necessary legal documents, such as the purchase and sale agreement, to ensure that they are complete and accurate.

Closing: An attorney can assist with the closing process, including reviewing and preparing closing documents, coordinating with the closing agent, and ensuring that all necessary documents are properly executed.

How Much will my Florida Home be worth in 5 years?

Going with a conservative appreciation rate for Homes of 3.5% per year you can expect a $500K Home to appreciate to:

5 years $594K

10 years $706K

20 years $1 Million

Due to low interest rates and other issues home values in Broward County FL increased by at least 20% in 2021, so as you can see this is a conservative estimate of future value, we might get another interest rate decrease soon, we’ll have to wait to see how the home market will react, it is impossible to predict the future, we can only look back.

As you can see the more home you can afford the better. This is not a guarantee it is only an estimate.

Overall, retaining an attorney in a real estate transaction can help protect your interests and ensure a smooth and successful transaction.

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
        

Visit our Secure Website often:  www.SouthBrowardHomesbyTony.com

Antonio Ortega LLC Licensed Real Estate Professional with Global Luxury Realty

P.S. Be it today, tomorrow or six months from now, I'm prepared to offer you dedicated extraordinary service.

Click Here to Contact Us

Things to do Before Putting Up my Florida Home for Sale

 

Selling my Home in Florida What should I do

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There are several things you can do to prepare your house for sale:

First things first – have a garage sale. Whatever doesn’t sell needs to be set out for a Disabled American Veterans or Association of Retarded Citizens pickup. Once the clutter is cleared away, it will be easier to see what needs to be done.

This is your first impression, so it had better be a good one.

Edge, mow and fertilize the lawn regularly. Make sure it’s well watered and reseed any sparse areas.

Put a bright coat of paint on your mailbox.

Trim hedges weed lawns and flowerbeds, and prune trees regularly. Cut back overgrown shrubbery that looks scraggly or keeps light out of the house.

Buy a new welcome mat.

Check the foundation, steps, walkways, walls and patios for cracks and crumbling, and reseal if possible.

Clean and declutter Make sure your house is clean and clutter-free. This includes cleaning carpets, windows, and surfaces, as well as getting rid of any excess furniture or clutter.

Repair and update Fix any damage or worn-out features in your home, such as leaking faucets, broken tiles, or outdated appliances. Consider making small updates, like painting the walls or replacing old light fixtures.

Stage the interior Consider staging the interior of your home to make it more appealing to potential buyers. This can include rearranging furniture, adding decorative accents, and making sure each room looks welcoming and well-organized.

Improve curb appeal First impressions matter, so make sure the exterior of your home looks attractive. This includes mowing the lawn, trimming shrubs, and adding colorful plants or flowers.

Gather necessary documents Have all necessary documents, such as your property title and any warranties or receipts for repairs or updates, ready to give to potential buyers.

Set the right price Determine the right price for your home by considering factors such as location, size, condition, and recent sales prices for similar homes in your area.

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

 Ask me for a Home Market Value analysis, I'll send it to you via Email, just fill out this brief Email Form.

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 Website often:  www.SouthBrowardHomesbyTony.com

Antonio Ortega LLC Licensed Real Estate Professional with Global Luxury Realty

PS. Be it today, tomorrow or six months from now, I'm prepared to offer you dedicated extraordinary service.

Click Here to Contact Us

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
        

Visit our Secure Website often:  www.SouthBrowardHomesbyTony.com

Antonio Ortega LLC Licensed Real Estate Professional with Global Luxury Realty

P.S. Be it today, tomorrow or six months from now, I'm prepared to offer you dedicated extraordinary service.

Click Here to Contact Us

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How to Take Title when Buying a Home in Florida

 

How to Take Title when Buying a Home in Broward FL

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5 Different ways to take title when buying a home in Florida, there are several ways to title a home when purchasing it. Here are a few common options:

Sole ownership: If you are the only person purchasing the home, you can take title as a sole owner. This means that you will have full ownership and control of the property.

Joint tenancy: If you are purchasing the home with another person, you can take title as joint tenants. This means that each person has an equal ownership interest in the property and the right of survivorship, meaning that if one owner dies, the other owner automatically becomes the sole owner of the property.

Tenancy in common: If you are purchasing the home with another person, you can also take title as tenants in common. This means that each person has an equal ownership interest in the property, but there is no right of survivorship. If one owner dies, their ownership interest passes to their heirs or beneficiaries.

The True Value of Your Home in South FL

Community property: If you are married and purchasing a home in a community property state (such as California), you can take title as community property. This means that the property is owned equally by both spouses and any debts incurred during the marriage are also considered community debts.

Trust ownership: If you want to hold the property in a trust, you can take title to the property in the name of the trust. This can be useful for estate planning purposes or to protect the property from creditors.

It's important to consider the legal and financial implications of each option when deciding how to title your home. It's a good idea to consult with a real estate attorney or financial advisor to help you make the best decision 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
        

Visit our Secure Website often:  www.SouthBrowardHomesbyTony.com

Antonio Ortega LLC Licensed Real Estate Professional with Global Luxury Realty

P.S. Be it today, tomorrow or six months from now, I'm prepared to offer you dedicated extraordinary service.

Click Here to Contact Us