MIAMI REAL ESTATE

It could save you money: If issues show up in the buyer’s inspection report, the buyer will likely ask for a price reduction, a credit, or have you make the fix yourself. Depending on the severity of the issues and the buyer’s willingness to negotiate, it can sink the original offer amount. It could lead to a faster close: Getting your house in the best shape possible should help speed up the sale process. If you proactively make the necessary repairs, there is less likelihoo

Buying a home requires an entire team of industry professionals to guide you throughout the process. This team of specialists will be able to answer questions in their area of expertise. Here is a list of the key players you need to have on your team to ensure a smooth transaction: Real Estate Agent: The role of the realtor is to act as your advocate from searching for a home, helping you find a lender and get pre-approved, educate you on what you are buying and the paperwo

The Foreign Investment in Real Property Tax Act, better known as FIRPTA, may affect both sellers and buyers, but it concerns primarily foreign sellers. The act provides that the settlement agent involved in the transaction must withhold 10-15% of the purchase price from the proceeds to the seller. 10% of the purchase price withheld for properties under $1 million 15% of the purchase price withheld for properties $1 million and over Are there any exceptions to the withholding?

If you own your own business, chances are you have a limited liability company (LLC) or, at the very least, you know what that is. Business owners may choose to buy a home using an LLC or under their own name. Buying a home through an LLC is beneficial for two main reasons: Reason No. 1: Homeowners can maintain some privacy because the LLC is listed as the property owner. For buyers who don’t want nosy people to be able to locate their addresses in public records, buying a h

Capital gains are the difference between the purchase price of a property and the price you sell it for. Capital gains tax apply to certain types of sale, usually income properties, and refers to what you pay on that difference, after adjusting for a variety of exemptions, deductions and tax breaks. The tax on capital gains income is calculated separately from the tax on your regular income and often at a different rate. In Florida the tax rate is usually 20%. Sale Price - Pu

Buying a home entails numerous upfront costs. Some are paid out-of-pocket after the seller accepts your purchase offer, while others are paid at closing. Here are 7 Associated Costs of Buying a Home you should consider before making the purchase. Earnest Money. Earnest money generally ranges from 5% to 10% of the home’s purchase price, depending on local market conditions and the seller’s preference. Down Payment. Typically ranges from 3.5% (FHA loans) to more than 20% of the

What is a 10-31 Exchange? A 1031 exchange allows an investor to “defer” paying capital gains taxes on an investment property when it is sold, as long another similar property (like-kind) is purchased with the profit gained by the sale of the first property. An investor will eventually cash out and pay taxes, but in the meantime, an investor can trade properties without incurring a sudden tax obligation. However, the 1031 Exchange Rules require that both the purchase price and

When you’re in the market for a new place to live, it helps to remember the golden rule of real estate: You’re not just buying a home - you are also becoming part of a neighborhood. As you evaluate the best aspects of a prospective neighborhood, you’ll want to match them to your daily needs. Lifestyle Match Just as a fantastic suburban neighborhood in a gated community may not be right for a young single professional, a family with three small children might not find a small