5 key strategies when investing in Miami

Miami is one of North America’s top destinations for national and international property investors/ foreign buyers. South Florida has attracted buyers who view Miami as an excellent place to live, work and play due to the city’s vibrant art and culture, economic growth and diverse industries, lifestyle amenities and recreational activities as well as prime residential developments on the market.  In recent reports, Miami was ranked among cities such as New York, LA, Chicago and London, as a prime [...]

Does insurance protect me against damages to third parties and tenant’s claims?

Insurance can provide all parties in a residential transaction (landlords, tenants, and lenders) with assurance that a well-funded insurer will minimize their risk of loss and liability should something unforeseen occur in the dwelling.  As a property owner/landlord you have to consider what and how insurance protects or works in your favor in the case of claim brought by tenants or third parties. We know that landlords’ policies do not provide coverage for tenants’ negligence that affects third parties. [...]

The Difference Between a Buyer’s Market versus Seller’s Market

In the current economic conditions it’s crucial for buyers and sellers of homes and condos to determine the type of market conditions that may affect the price and process homeownership. Both a buyer and a seller should know their respective market well and determine the value of the home they want to invest in or market for sale. The concept of buyer's and seller's markets specifically takes into consideration the law of supply and demand. The market can swing [...]

What role does the valuation of property play in the buying process?

The Real Estate selling and buying process is one of the most important decisions for any investor or homeowner, and pricing determination is the most critical aspect of the transaction process. Property valuation basically is the process of developing an opinion of value for real property or simply, what is the property worth from an appraiser’s standpoint. Buyers will need this info and determining the value of real property is essential for a variety of endeavors, including pricing a property to [...]

What is escrow (trust) and what is its importance?

Buying real estate is a process that includes many financial hurdles to handle. The exchange of money for a real estate transaction is not as easy as people would believe.  In fact, contractual obligations dictate certain procedures for the exchange of funds for a purchase and often times the trade is contingent on contract terms being met by both seller and buyer. It’s important to know one of the most crucial terms in the buying real estate that may [...]

purchase home

Costs associated with the purchase of a home

Understanding the costs of buying a home can be challenging for a buyer. The total amount paid for a home doesn’t end at the purchase price. There are many additional expenses that will be included in the final amount you’ll spend to close on a property and its important to have advanced knowledge of how much you’ll be required to bring to the table. Buyers must be prepared to finance all the costs associated with getting a loan/mortgage which [...]