Phases of the purchase of properties in Pre Construction

There are several steps and phases for a homebuyer considering a Pre-construction condo or home.  Buying a pre-construction home can vary from developer to developer, but the basic components are mostly the same. It’s a good strategy to consult with a realtor so you can know the process to buy. There are many benefits to buying a new residence in pre-construction stage including securing a newly-built condominium and amenities, enabling you to pick your appliances, cabinets,  finishing, and flooring [...]

What is the certificate of elevation of a property

A Flood Elevation Certificate for a homeowner is an important tool of the National Flood Insurance Program (NFIP) and with it you can potentially save thousands of dollars a year on Flood Insurance. It is used to certify building elevations if the property is located in a Special Flood Hazard Zone in order to determine the proper flood insurance premium rate. It’s important to note that an elevation certificate documents the actual elevation of a property/building, not just the [...]

What are federal estate tax and how to avoid them.

Federal estate tax are imposed on the wealthy. If there’s a death in your family and the property of the deceased owner transfers to you, the federal government imposes an estate tax on the value of all that property. The estate tax doesn’t affect many American taxpayers who aren’t in the top 2 percent of the nation’s wealthiest people. It is reported that only about one of every 517 estates will pay the tax in 2017 and the federal [...]

How much is Property Tax?

Property taxes are a part of every home or property owner’s yearly responsibility, you must factor in the total cost of taxes before decided to buy a home so you can assess what is affordable and how it will impact the total cost of property. Housing is basically the single largest monthly expense for most homeowners when included with mortgage payments. Tax bills can be burdensome for many homeowners but once you’ve purchased a home and a tax bill [...]

Sale with Firpta

International investors are a big contributor to the real estate industry. Foreigners from across the globe visit and invest in buying homes, condos and properties all over the U.S. During the transaction process, there are many rules of buying and selling interest or share in real property inside the US by foreign sellers. In order to allocate the proper tax the transaction of property for sale the Foreign Investment in Real Property Tax Act, better known as FIRPTA (passed [...]

How to obtain financing and the different types of loans

Buying a new home or condo requires much financial consideration. The cost of new home for many people is the biggest sum of money they will spend in a lifetime. Wealthy buyers can always afford to buy cash or get the financing required for pricey properties but a standard homeowner will have to investigate ways to get financing and compare the different types of loans available to them. Affordability is always key in a real estate transaction and knowing [...]