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Buying Property in Your Own Name or Through a Company
During the last decade, limited liability companies (LLC) have become a widely used option for acquiring real estate in the United States. Despite the benefits that LLCs offer, they’re not always the best way to carry out real estate transactions. For many investors,…

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Financing
If you’re considering buying a home in south Florida, either as an investment, vacation home, or permanent residence, it’s important to consider the terms and conditions of getting a mortgage loan. Many financial institutions offer mortgage loans, from local and…

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Do I Need Insurance
Do I Need Insurance? Insurance protects property against natural disasters and other eventualities. Unfortunately, insurance, regardless of the type, isn’t really appreciated until it’s needed. Therefore, the decision about having property insurance, health insurance,…

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Pre-Construction Contract
What You Should Know About Pre-construction Service Agreements The following are the most important elements that every investor/buyer should know regarding this type of contract: They are Unilateral Contracts. The developer drafts the contract and sets all the rules….

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Inspection
Protect Your Investment with the Inspection Contingency Clause What is the inspection contingency clause? This is a clause that gives the buyer the right to inspect the property that he or she intends to buy, with the purpose of determining hidden damages or…

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Five Key Strategies for Rental Property Investors
1. Set the Correct Rental Price Your main income for rental properties is the rent you collect. Therefore, make sure you estimate and establish a fair and attractive price so that you can rent the property right away. Take into consideration the comparable estimates…

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The Eight Most Costly Mistakes Investors Make When Renting a Property
1. Ignoring local legislation and not hiring the proper lawyer. Knowledge of local tax and real estate legislation will help you save time and money. For example, what do you do when one of the following occurs? Payment is late Breach of contract Termination of…

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Buying vs. Renting
Pros and Cons of Buying vs. Renting Buying Renting Less freedom in moving Flexibility, the possibility of moving easily from place-to-place Responsible for all improvements and repairs Not responsible for major repairs Possibility of using the property for an unlimited…

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Commission
How Much Is the Commission? For residential real estate transactions, the standard commission is 6% of the home’s sale price, which is divided equally. Three percent goes to the buyer’s agent and the other 3% to the seller’s agent. For residential rent transactions,…

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FIRPTA
What is FIRPTA? It’s the Foreign Investment in Real Property Tax Act of 1980. It is a tax law that applies to foreign persons who are disposing of U.S. property. Who does FIRPTA affect? FIRPTA affects all non-resident aliens and foreign companies not considered to be…

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