Three Common Issues With Mortgage Financing and Florida Residential Closings

| July 7, 2015

In South Florida, most residential real estate closings involve a buyer obtaining a home loan to finance the purchase.  When the homeowner obtains a mortgage he or she gives the bank a lien on the property until that loan is paid in full. This mortgage also gives the lender the right to have the homeowner […]

What Happens When a Seller Defaults on a Residential Sales Contract in Florida?

| June 30, 2015

What happens when a seller defaults on a real estate contract? It is true that in many residential real estate transactions, it is the buyer that has second thoughts about buying that home or condo and tries to find a way to back out of the deal. However, that’s not always the case; sellers often […]

Closing on Florida Real Estate: Seller’s Documents at Closing

| June 23, 2015

Selling your home or condo here in South Florida means marketing your residential property either by yourself (”For Sale by Owner”) or through a real estate broker to find a buyer who has the financial means (cash or mortgage loan) to pay for it. Depending upon the housing market, selling your condo, townhouse, or single […]

5 THINGS TO KNOW ABOUT WITH FLORIDA CLOSINGS

| June 16, 2015

Here in South Florida, closings on residential real estate happen every day: condos are purchased for retirement homes and as investment rentals; homes in neighborhoods like Coconut Grove, Brickell, and Palm Beach are sold to families that may be moving across town or from across the country. In Miami, there are lots of residential real […]

Big Changes In Florida Real Estate Closings: The HUD-1 Settlement Form Replaced With TRID

| June 9, 2015

On August 1, 2015, closings will be different here because of changes in federal law and replacement of HUD-1 Form As part of any closing on residential real estate (homes, condos, townhouses, vacation property, etc.)  federal law requires that buyers and sellers receive as part of their Closing Documents a “HUD-1 Settlement Statement” known by […]

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