Serving Palm Bay – Sebastian – Vero Beach
Real Estate Attorneys
Serving Real Estate Clients in Palm Bay, Sebastian, & Vero Beach
Let an attorney provide title insurance for you at Title Company rates. No Attorneys fee charged for simple Real Estate Closings. We act as a simple Settlement Agent. However, there is an attorney that reviews each individual closing. Time is money. We have set up all of our procedures to close the transaction as soon as possible.
Currently, we are servicing Indian River, Brevard, Seminole, Orange, Osceola, Charlotte, Sarasota, DeSoto and Polk counties. We have the capacity to serve the entire State of Florida.
Also, we efficiently handle problems arising from Estate closings and closings requiring additional documents. Consequently, there is no need for third parties – which can cause delays. In these circumstances, Attorneys fees will be charged only when our services are requested. Our Title Insurance Underwriter is, Old Republic National Title Insurance Company.
That’s Latin meaning “Buyer Beware.”
In the real estate business, it’s long been the slogan for consumers to always be aware, and gather as much information about a property as possible and the business transaction surrounding that property.
Lately, “Let the Buyer Beware” has lost some of its strength. In South Carolina the Supreme Court let a lot purchaser collect damages because a subdivider of land did not disclose the fact that a particular lot had trees and construction material buried under the fill which later produced cracking and shifting. The award to the buyer was not only for repair but also for an additional $125,000. in punitive damages.
Building a Home
Let’s face it, we all try to do the right thing when entering into a real estate transaction, especially if it’s the first time you’ve bought or built a home.
Try to deal with real estate professionals who are reputable and knowledgeable about the area. If you’re not comfortable with something that’s going on in the transaction, sometimes it’s in your best interest to seek the advise of an attorney.
An attorney can better represent your interests in some real estate transactions, especially in cases where the real estate agent represents the seller. Building a Home:
If you are going to borrow money to build, the lender will require you to provide a Mortgagee Title Insurance Policy which we would be glad to supply.
If you are building a home on a lot you already own, you should increase your Title Insurance coverage to equal the amount of your investment.
If you are financing the construction yourself, you should have the record searched prior to final payment. We would be glad to prepare the Termination of Notice Commencement and Final Contractor’s Affidavit for recording. Protect your money as the lender does his, call us for a quote to increase your policy limits to equal the amount of your investment.
So, what about the Homestead?
In order to obtain your Homestead tax deduction, you need to bring to the Tax Collector in the county of your homestead the following:
- Florida Voters Registration (if you vote)
- Florida Drivers Licence (if you drive)
- Florida Registration For Car (if you own a car)
- Recorded Deed for property
- Current elecrical receipt for Service in your name prior to January 1
- Social Security Number (all owners)
Items 1, 2, 3, and 4 must be obtained before March 1st for the year you file. Bring all of the above for all owners appearing on deed. If you do not vote, drive, or own a car, a declaration of domicile can be provided by our office.
So, you just purchased your new home. You remembered to get your Homeowners insurance, and you just filed for the “Homestead” exception.
By filing for the homestead exemption, what did you get? Most people just think of it as a way to reduce thier property taxes, but it does entitle you to a few other rights
Several Legal consequences flow from owning homestead property. Florida law exempts the first $50,000 of the property value from ad valorem property taxes. This is where your reduced property taxes result. But it also exempts the property from the claims of most creditors, and restricts an owners right to transfer or give away the property during life or at death, This Final consequence creates estate planing obstacles for married Florida residents.
Therefore if you’re a first time home buyer, or you have recently relocated to our state, it’s time to start planning your will.