Definition of Title Insurance Title insurance is a crucial component of any real estate transaction. It protects buyers and lenders against potential title defects and disputes arising after purchasing a property. When you buy a property, you want to ensure that you have clear legal ownership and that no outstanding debts or legal issues are associated with the property. Title insurance provides...

What is Title Insurance? Title insurance is crucial to any real estate transaction, providing protection and peace of mind for both buyers and lenders. But what exactly is title insurance? In simple terms, it is a type of insurance policy that protects against any potential legal issues or defects in property ownership. These could include unpaid taxes, liens, or even mistakes in public records. A...

What are closing costs? Closing costs are fees and expenses that homebuyers and sellers must pay at the end of a real estate transaction. These costs vary depending on the property's purchase price and the loan's terms. Some typical closing costs include real estate agent commissions, transfer taxes, recording fees, attorney fees, and title search fees. There may also be costs associated with loan...

What is a Real Estate Purchase Agreement? A real estate purchase agreement is a legally binding contract that outlines the terms and conditions of a property sale transaction. This agreement specifies details such as the purchase price, closing costs, and any contingencies that must be met before the sale is finalized. It is an essential document for buyers and sellers, protecting their interests and...

What is a Contingent House? A contingent house refers to a property under contract with a buyer. Still, the sale is contingent upon certain conditions being met. In real estate, a contingency is a contractual condition that must be fulfilled for the sale to proceed. These conditions can vary but commonly include inspections, the buyer obtaining financing, or the successful resolution of title issues. A...

Definition of Under Contract When a property is said to be "under contract" in real estate, a legally binding agreement has been made between the seller and the buyer. This agreement outlines the terms and conditions of the sale, including the purchase price, contingencies, and closing date. The property is no longer for sale and is taken off the market. The buyer and seller have agreed to enter...

Florida Real Estate Commission When selling a home, understanding the basics of real estate commission is crucial. Like many other states, real estate agents are typically compensated through a commission-based system in Florida. The agent's fees are only paid once the property is successfully sold. This post will explain everything you need about Florida real estate commission. However, for those...

Who Gets the House in a Divorce in Florida? When a couple decides to divorce in Florida, one of the most pressing questions is often who gets the house. The concept of exclusive use and possession of the marital home comes into play in these situations. Exclusive use and possession grants one spouse the right to live in the marital home. This is done typically until the divorce is finalized. There...

What is a Divorce? Divorce is a legal process that dissolves a marriage, with each partner legally recognized as separate individuals. During a divorce, many aspects need to be considered, including the division of assets. One of the most significant assets in a divorce is typically the family home. Selling a house during divorce can be complex and emotional, requiring careful navigation of legal,...

Overview of Selling Commercial Property By Owner Selling commercial property by owner can be a viable option for property owners looking to maximize their profits and have more control over the sales process by bypassing real estate brokers and agents. Property owners can directly engage with potential buyers, negotiate the sale price, and save on commission fees. However, it is crucial to be...