fl: Required Reporting to the I.R.S.
- 02/05/12 12:30 PM
Sellers of real property will have certain information regarding the sale reported to the Internal Revenue Service. This required reporting is a consequence of the Tax Reform Act of 1986; it is intended to encourage taxpayer compliance and aid in audit and enforcement efforts by the I.R.S. To help you better understand this subject, the Land Title Association has answered some of the questions most commonly asked about Required Reporting to the I.R.S. Who is required to report to the I.R.S.? Sellers of real property, under guidelines established by the I.R.S., are required to have their gross proceeds from the sale … (1 comments)
fl: Importance of a Home Inspection - Weston Real Estate, Florida
- 01/27/12 12:30 PM
As a buyer, you are entitled to know exactly what you are getting. Don’t take anything for granted, not even what you see or what the seller or listing agent tell you. A professional home inspection is something you MUST do, whether you are buying an existing home or a new one. An inspection is an opportunity to have an expert look closely at the property you are considering purchasing and getting both an oral and written opinion as to its condition. Beforehand, make sure the report will be done by a professional organization, such as a local trade organization or … (1 comments)
fl: Insist on a Home Inspection. Weston, FL
- 01/19/12 01:01 PM
A professional home inspection protects both you and the buyer. It allows both you and the buyer the opportunity to learn about the property’s defects. A home inspection usually covers the following: Plumbing conditions - if there is leakage or clogging Roofing conditions - the extent of deterioration, if there is leakage Electrical conditions - if there are inadequate circuits or potential fire hazards Structural problems - if there are problems with the underlying foundation of your home As a seller, the home inspection reports protect you because it establishes the actual condition of the property at the time of sale. … (1 comments)
fl: For Sale by Owner, FSBO, Is it a Good Idea? Weston Homes, FL
- 01/19/12 12:50 PM
FSBO (pronounced fizz-bo), or For Sale By Owner, is a way of selling your home without the use of a professional real estate agent or broker. The idea behind FSBO is that by selling your home yourself, you save the approximate 6% that would be the agents’ commission. 6% may not sound like a lot, but it can add up, especially on more expensive homes. But before you run off and decide to sell your home FSBO, you must remember that to get a savings like that, there must be a cost. So what’s the catch? Selling FSBO is hard. A … (1 comments)
fl: Considering Offers. Weston Homes for Sale, FL
- 01/18/12 03:21 PM
When reading an offer, keep in mind that you are out to get the best price AND the best terms for you. If you focus solely on the price, you may overlook terms that could be favorable to you as a buyer. Some terms that may work in your favor: higher-than-market-interest in a second mortgage for your home the buyer will pay for most or all of the closing costs the buyer will take care of any repairs quick close - the buyer is pre-approved and ready to close in a timeframe that best suits you all-cash deal When reading through … (1 comments)
fl: Thinking about Buying a Foreclosure. Florida Homes for Sale
- 01/17/12 05:09 PM
With the housing bubble burst and the subprime mortgage crisis, millions of homeowners found themselves unable to make their mortgage payments. Many found themselves owing more on the house than the home was worth. Many just walked away from their homes. As a result of these complicated issues, millions of homes were foreclosed. While this isn’t the only reason for which homes are foreclosed, it has been a widespread one. With all the foreclosed properties, there has also been extensive interest in buying these properties at a bargain price. It is true that foreclosed properties can be priced at a significant … (0 comments)
fl: Is Buying a Home still a Smart Choice ? Weston Florida Homes for Sale
- 01/17/12 05:07 PM
With the burst of the housing bubble, credit crisis, and millions of foreclosures across the country, you may wonder if buying a home is such a good idea after all. However, it’s important to consider all of the facts. The important message to take away from these events is not that buying a home is a bad idea, but that you must be smart about buying your home. The housing market, like every type of market, unavoidably has its ups and downs. That doesn’t mean buying a home is a bad investment. As a long-term investment, homeownership is still one of … (0 comments)
fl: Getting Approved. Getting a Legitimate Lender, Mortgages
- 01/15/12 02:21 PM
It used to be that buyers could go house shopping and when they have found their dream home, then they go to get pre-approved. However, in today’s market, that has proven to be one of the least effective methods in landing the dream home. Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much mortgage you qualify for. However, being pre-qualified and pre-approved are different things. Pre-approval means that you have applied for a mortgage; you have filled out the mortgage application, received … (2 comments)
fl: Finding the Right Seller, Selling Weston Florida
- 01/15/12 02:18 PM
The best seller is one who is highly motivated. A highly motivated seller is more likely to sell at a price that is less than his or her house is actually worth. And it matters that you find out why. Learning the reason why can help you get the price you want and help the seller get what they want: a timely sale. When given the opportunity to meet with sellers, ask them why they are selling. The reason could be anything, such as a job change to a new location or financial problems. If you can solve their problem, whether … (0 comments)
fl: Avoiding Financial Stress, Weston Real Estate, Florida
- 01/15/12 02:13 PM
By asking the right questions, and knowing exactly what your needs are, you can find the right loan for you. There are certain approaches that you can take while mortgage shopping that can cost or save you money. It is still true that the better qualifications you have, the lower your interest rate will be. However, there are mortgages available for almost everyone; it's the interest rates or the down payments that vary. Before speaking with a lender, know what monthly dollar amount you feel comfortable committing to. Then when you discuss mortgage pre-approval with your lender, it is easier for … (0 comments)
fl: Weston Hills Country Club, 282 Poinciana Ct, Weston, FL 33327, Weston Hills, Florida
- 01/14/12 09:30 AM
Click on an image for more information $1,449,000Trophy Home in Poinciana featuring 5 Bedrooms, 5.5 Baths with Office & Sitting Room in Master Bedroom. Sits on over a 1/2 acre stunning waterfront lot. Huge brick pavered circular driveway with lush landscaping centered around a Porte Cochere. Interior features Marble Flooring throughout Main living areas, Custom Window Treatments, Built-Out Wall Unit in Family Room. Kitchen fully updated & Stunning. All Bedrooms have private full baths. Backyard is enormous & fully fenced with Heated Pool & Spa surrounded by palm trees. Accordian Shutters … (0 comments)
fl: HOA, Home Owner's Association Dues
- 01/14/12 09:25 AM
When it comes to negotiating short sales, every day is a new challenge. One of the recent challenges we?ve come across is high HOA or Condo Association balances . During our initial meeting with the Seller, we always ask whether they are current with their Association payments, and if not how far behind are they? This is asked so we can factor into our negotiations a payment for the delinquent Association fees. A question that is often asked is: If you do a title search why doesn't the title company know whether the client is delinquent in these payments? The answer being … (1 comments)
fl: 3 Real Estate Tips from Warren Buffet
- 01/13/12 01:40 PM
Here are 3 real estate tips from Warren Buffet that can help you no matter what stage of home buying you are at. The basic premise of home ownership, that homes increase in value over time, is sound - This is actually refreshing to hear. Buffet based this decision on the thought that “It’s a totally sound premise that houses will become worth more over time because the dollar becomes worthless.” Today’s market is full of great deals for buyers who are looking to get involved. Buffet states, “Home ownership makes sense for most Americans, particularly at today’s lower prices and bargain … (3 comments)
fl: Build an action plan, and get ready !
- 12/13/11 02:19 PM
Buying a home will probably rank as one of the biggest personal investments one can make. Being organized and in control will contribute significantly to getting the best home deal possible with the least amount of stress. It’s important to anticipate the steps required to successfully achieve your housing goal and to build a plan of action that gets you there. Before you can build a plan of action, take the time to lay the groundwork for your decision-making process. First, ask yourself how much you can afford to pay for a home. If you’re not sure on the price range, … (1 comments)
fl: Thinking of Buying a Foreclosure ?
- 12/09/11 10:16 AM
With the housing bubble burst and the subprime mortgage crisis, millions of homeowners found themselves unable to make their mortgage payments. Many found themselves owing more on the house than the home was worth. Many just walked away from their homes. As a result of these complicated issues, millions of homes were foreclosed. While this isn’t the only reason for which homes are foreclosed, it has been a widespread one. With all the foreclosed properties, there has also been extensive interest in buying these properties at a bargain price. It is true that foreclosed properties can be priced at a significant … (2 comments)
fl: Avoiding Financial Street
- 11/19/11 07:19 AM
By asking the right questions, and knowing exactly what your needs are, you can find the right loan for you. There are certain approaches that you can take while mortgage shopping that can cost or save you money. It is still true that the better qualifications you have, the lower your interest rate will be. However, there are mortgages available for almost everyone; it's the interest rates or the down payments that vary. Before speaking with a lender, know what monthly dollar amount you feel comfortable committing to. Then when you discuss mortgage pre-approval with your lender, it is easier for … (0 comments)
fl: The-Bi-Weekly Mortgage, Who Needs it ??
- 11/19/11 07:16 AM
Have you received an advertisement offering to save you thousands of dollars on your thirty-year mortgage and cut years off your payments? With email spam becoming more pervasive as everyone tries to get rich quick on the Internet, these ads are popping up with troublesome regularity. The ads promote a Biweekly Mortgage and for the most part, do not come from a mortgage lender. Exclamation points punctuate practically every claim: No closing costs! No refinancing! No points! No credit check! No appraisal! Save thousands! Cut years off your mortgage! To achieve these wonderful savings all you have to do is allow … (0 comments)
fl: Items you need when applying for a loan
- 11/19/11 07:12 AM
Have These Items Ready When You Apply For a Loan It used to be that lenders mailed out verifications to employers, banks, mortgage companies, and so on, in order to verify the data supplied by borrowers. Nowadays, the interest is often in speed and getting answers quickly so alternate documentation has become more widely used. Alternate documentation means that underwriting answers can be obtained with information supplied directly from the borrower instead of waiting around for verifications to come back in the mail. The following is required for most standardized loans as part of alternate documentation processing. Items may differ according … (0 comments)
fl: FICO® Scores and Your Mortgage
- 11/19/11 07:09 AM
Years ago, credit scoring had little to do with mortgage lending. When reviewing the credit worthiness of a borrower, an underwriter would make a subjective decision based on past payment history. Then things changed. Lenders studied the relationship between credit scores and mortgage delinquencies. There was a definite relationship. Almost half of those borrowers with FICO® scores below 550 became ninety days delinquent at least once during their mortgage. On the other hand, only two out of every 10,000 borrowers with FICO® scores above eight hundred became delinquent. So lenders began to take a closer look at FICO® scores and this … (0 comments)
Sellers of real property will have certain information regarding the sale reported to the Internal Revenue Service. This required reporting is a consequence of the Tax Reform Act of 1986; it is intended to encourage taxpayer compliance and aid in audit and enforcement efforts by the I.R.S.
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