Archive for category: Buying and Selling

Most people are aware that they are going to need to pay closing costs, but it isn’t always clear what those costs are, what is paid upfront, and what is paid on the day of closing when you take over your new home. 

You need to be prepared for these costs, and your real estate agent can give you an estimate. Your actual closing costs, checks required, and other details may not be released to you until just a few days before closing. Here’s what you need to know to be prepared.

If you don’t use a closing agent, you’re going to need at least two checks.

The first check you’re going to need is the required down payment, made out to your lender. Your lender will give a check to the seller, although not necessarily in the same amount. The second check will go to the real estate agent for closing costs and fees that haven’t yet been paid, such as title insurance and appraisals. Read more

Many people have postponed moves or new home purchases due to the pandemic. With most people trying to stay at home and avoid travel, buying a home or moving within COVID guidelines for the area could be very difficult. Still, some home buyers may have plans in motion that cannot be postponed for long. 

If you are going to be buying a home before the pandemic is truly under control, you’ll need to take some precautions to keep you and others safe. Some of these guidelines are based on local requirements, while others are based on the CDC guidance.

Mask wearing is important and mandatory in Tampa.

Hillsborough County, which encompasses Southern Tampa, has a mask order in place. You must wear a mask if you will be within six feet of others. Since paperwork is passed from person to person during most closings, it is not possible to social distance, and masks are required. Masks have been proven to slow the spread of COVID-19. Read more

Real estate fraud is very real, especially in today’s world where everyone is trying to do everything online. With more and more people wanting to do contactless showings and closings, it is way too easy for people to take advantage of the situation and scam you out of your hard earned money. Here is what to look for and how to prevent real estate fraud.

Types of Real Estate Fraud

There are different forms of real estate fraud. The most common in today’s society is real estate fraud involving homes for sale. Scammers find property listed for sale or make up their own details around a picture found online, then try to hook in a potential “buyer.” Read more

There is a definite housing crisis in America. Almost 32,000 people are homeless in the state of Florida alone. About 35 percent of homes or housing units are occupied by renters. And in a national poll, about two-thirds of renters say they couldn’t afford to buy a home if they wanted to.

But what exactly is affordable housing? According to the federal government, affordable housing costs no more than 30 percent of the household’s income. Unfortunately, the vast majority of renters spend a much larger portion of their income on housing. Read more

A cash offer occurs when a buyer approaches a seller with an offer that will be paid in cash rather than through a mortgage lender. Cash offers happen much more often than you might think. In 2018, over a quarter of offers made on properties were cash offers. 

A cash offer might look attractive to both buyers and sellers, but there are some upsides and downsides to cash offers. Here’s what you need to know to decide if a cash offer is right for you.

Cash Offers for Sellers

There really aren’t too many downsides to taking a cash offer from a buyer. You’re getting the money up front without a lender, which means you have instant liquid assets you can use to buy another home or purchase other investments. You also don’t have to worry about complications with a lender, either during closing or during payout. Read more