Difference: Florida Residential & Florida Commercial Real Estate

Florida Commercial Real EstateTwo types of properties when it comes to Florida Real Estate are Residential and Commercial.

Residential real estate refers to properties intended for people to reside in, such as houses, apartments, etc. Commercial real estate refers to a building or land intended to generate profit from capital gain or rental income, such as a storefront, apartment complex, office building, mall, etc.

It is important to differentiate between these two types of real estate when hiring a Florida real estate attorney because the process of buying or renting these properties can be very different.

Here at Boyer Law Firm, we concentrate on buying and selling both residential and commercial properties, and we handle commercial rentals and commercial landlord/tenant issues. We do not practice residential landlord tenant issues or assist tenants with residential leases.

If you are interested in purchasing a commercial property, then our commercial real estate attorneys can assist you with determining whether you should buy or rent the property. Commercial real estate transactions can be must more complex then residential real estate transactions, which is why it is important to hire a Florida commercial real estate attorney.

When renting a commercial property, it is important to have a Florida commercial real estate attorney review the lease agreement BEFORE you sign it. Remember, a lease agreement is a contract which can run up to 75 pages long! We have received many calls from people attempting to get out of a bad commercial lease agreement, and their issues could have been solved in a much easier and cost-efficient way if they had hired an attorney to review the lease before they signed it.

Our residential real estate attorneys can assist you in purchasing a Florida residential property in a quick and efficient manner. It is important to hire an experienced residential real estate attorney to assist you with the closing, including making sure the property has a clear title, which is done through a title search. If a proper title search is not performed on the property, then the buyer can potentially be stuck with many detrimental issues, such as these horror stories.

Contact our office today to see how our Florida real estate attorneys can assist you.

What to Do Before Closing on a Property

Before closing on a propertyWhen purchasing a home or office space, there are many factors to consider before closing on a property. Once you have found a property that you think you want to purchase, you want to make sure that you do your research before the closing.

Before you make an offer on the property, it may be a good idea to hire a Florida real estate closing attorney to perform a title search on the property, but at the very least, a title search should be performed before closing on the property.

Additionally, you want to make sure of the following before closing on a property:

-          A proper title search was conducted and the property is now free of all liens and encumbrances. If a proper title search is not performed, then you may end up in a horror story situation where the previous owner’s debts become yours.
-          A home inspection was performed on the property. Don’t put this off to the last minute.
-          Verify, or have your closing attorney verify, that all utility bills are up to date including electric, water, etc.
-          Determine if flood insurance will be required, as flood insurance rates are expected to increase by 25 percent.

Don’t wait until the last minute to have these items completed. You should contact a Florida real estate closing attorney at least three weeks before the date of your closing if you are currently in Florida, and more than a month before if you are overseas, in order for the closing to be performed correctly.

Buying an Existing Business in Florida Saves Time and Money

Buy an Existing BusinessMost people think that in order to be an entrepreneur you need to start a new business; this is not true. Many entrepreneurs start their businesses by buying an existing business. Buying an existing business in Florida can be more advantageous than starting from the ground up and can save the business owner a lot of start-up time and effort.

When you purchase a new business, it will usually include an existing customer base, existing location, existing product(s), and existing physical assets.

An existing customer base is the number one reason to buy an existing business, but you need to make sure that this existing customer base will be loyal to the business, not to the old owners or old employees.

Often times, the loyalty of the customer base will be determined by the type of business you are buying. If you are buying a hair salon, for example, many of the customers are not loyal to the actual hair salon; they are loyal to the hair stylist who is used to them and knows how they want their hair cut. On the reverse side, if you are buying something like a restaurant, then the customer base should be pretty loyal unless you drastically change the menu items or other important aspects of the business.

The second thing that will come with buying an existing business in Florida is the location. This is an important thing to consider when purchasing a business because the location can either help or hurt you.

The business you are buying will also most likely have an existing product, whether it be recipes for a restaurant or clothing for a store. The business may also come with trademarks and certifications on the products that the previous owners obtained.

Lastly, the business will usually come with physical assets. In the case of a restaurant, these would include ovens, tables, kitchen equipment, and more. If the business you are buying is selling for a low price, then you may be able to get a great deal for these business assets.

If you are interested in buying an existing business in Florida, contact Boyer Law Firm’s business law attorneys today.

How to Lose Your Property: Don’t Do a Title Search

Title searchWhen purchasing a property, one of the most important things is to perform a proper title search and purchase title insurance. If you do not, then you could very easily lose that property.

Forgery:

If a title search is not performed, then there is no way of knowing that the person selling you the house is the actual owner of the house. They could be a neighbor who knows that the actual owners go out of town for several months a time. They could have an ex-spouse, sibling, or other person on the title who does not want to sell the property. If you purchase a house from someone who is not the owner, or is just a partial owner, then you DO NOT own the house.

Contractor’s Lien Claim

If the person you buy the house from has had work done on the property and did not pay the contractor, or the contractor did not pay the sub-contractors, sub-sub-contractors or materials men, then there will be a lien, or debt, placed on the property. If you do not perform a proper title search, then this debt will become yours when you purchase the property, and the lien placed could potentially be more than the value of the property.

Easement

An easement occurs when a piece of the property extends onto another person’s land. If this easement is done without permission of the land owner, then the new owner of the property could be forced to deconstruct the portion of the structure that is located on that property, costing them time and money.

Zoning and Building Restrictions

These can also be detrimental to a purchaser who does not perform a title search. What if you purchase a property to start a business only to find out that it can only be used for residential purposes? You are out of luck. What if the building that you purchased is not up to code or building regulations? It is now your responsibility to fix it, once again costing you time and money.

The best way to prevent any of these situations from happening is to hire an experienced real estate attorney to ensure that a proper title search is performed and that you receive title insurance on the property.

Buy a Florida Mansion for the Price of an English Flat

Florida Mansion for the Price of an English FlatHouse prices in England and Wales reached an all-time high in July primarily due to a huge demand for property. Due to these high home prices, many English residents are buying real estate elsewhere, including Florida.

The average price of a two-bedroom flat or maisonette in Wales is currently £230,000, or approximately $357,098.00. According to YourMoney.com, you can get a Florida mansion for the price of an English flat, specifically a five bedroom home complete with theater room, billiard room, and a swimming pool with a mini-waterfall in a gated golf complex in Winter Garden, Florida.

There are many beautiful properties throughout Florida. Whether you are interested in purchasing a summer home or a permanent residence in Florida, contact Boyer Law Firm’s Real Estate Attorneys today.

Source: YourMoney.com

Florida House Flipping On the Rise Again

Florida House Flipping On the Rise AgainFlorida house flipping is a profitable business. Large companies such as Taylor Morrison, Neal Communities, Lennar, and Pulte group are capitalizing on the declining inventory of homes for sale, increased demand from buyers, low interest rates, the improving economy, and greater consumer confidence.

Florida currently is responsible for 13 percent of house flipping nationwide, second only to California, according to a study published by RealtyTrac. The average gross profit for Florida house-flipping in Daytona was 82 percent! Jacksonville ranked sixth with an average of 16 percent, and Orlando ranked 15th with an average of 10 percent.

Florida house flipping is not just for giant companies. Individuals can make a profit from house flipping, or they can turn their “hobby” into a small- to – medium sized business, which may then grow into a larger company. For foreign investors, this could be a path towards a visa or permanent residence.

If you are simply looking for a closing agent, or if you are interested in starting a Florida house-flipping company, Boyer Law Firm’s experience business law and real estate law attorneys can help, so contact us today.

Sources: Herald Tribune and Florida Current

 

Eviction in Florida

Eviction | Landlord-tenant law attorney | Real Estate Lawyer Jacksonville, Orlando, Miami | Florida Eviction AttorneyOur Florida real estate attorneys handle Landlord/ Tenant law, including evictions, throughout the state of Florida.

Under Florida law, a landlord can evict a tenant for any of the following reasons:

-          Non-payment of rent
-          Violation of lease provisions
-          Noise violations
-          Fighting or disruptive behavior

There are specific steps that a landlord must go through to evict a tenant. These steps can differ based on the reasons for eviction and the desired results of the litigation process; if the landlord is seeking to recoup money damages it is more complex than if he is simply seeking for the tenant to vacate the premises.

The eviction process can range from simple, if you have a cooperative tenant, to extremely complicated, depending on the way the tenant responds and the resulting legal ramifications.

The eviction process is a type of civil litigation, which is why it is important to hire an attorney to assist you. Boyer Law Firm’s civil litigation attorneys are familiar with the court’s processes, which can prevent you from making mistakes that could prevent or delay the eviction.

Orlando House Flippers Most Profitable in US

Orlando House Flippers | Real Estate Attorney OrlandoOrlando has been named the best city in the nation for house-flipping according to a report released by RealtyTrac. The city was the most profitable housing market for house-flippers in 2012, with Lakeland and Tampa, Florida close behind.

House flippers are investors who purchase a home in order to turn around and sell it, usually within a six month period. Orlando house-flippers averaged a 63 percent profit in 2012, with an average purchase price of $103,701 and a resale price of $168,677.

“Definitely there are a lot of investors from out of the country who know it is an active real-estate market,” said Marisela Torres, a buyer’s agent for Keller Williams. “They [homes] are selling at asking price and above asking – we are seeing multiple offers on every listing.” She said that many of her foreign buyers will give her a budget, but they will often adjust this number when they see the limited number of homes available.

Factors contributing to the increase in Orlando house flippers are the influx of foreign buyers, the influx of equity-funded investors, a general sense that the market has hit bottom (so now is the time to act), and a limited number of homes available (about half of what is considered normal).

If you are buying or selling a house, contact Boyer Law Firm today. We can assist you with every step of the process from the initial contract to after the closing.

Source: Orlando Sentinel

Residential Lead Based Paint Hazard Reduction Act in Florida

Residential Lead Based Paint Hazard Reduction Act of 1992 | Florida Residential Real Estate | Florida Real Estate Attorney Jacksonville, Orlando, Miami | Boyer Law Firm, PLIf you are selling a home in Florida, there are certain things that you must disclose to potential buyers. If you home was built before 1978, then you must comply with federal regulations set forth by the Residential Lead Based Paint Hazard Reduction Act of 1992.

These regulations include:

- Disclosing all known lead-based paint and hazards in the house
- Giving potential buyers a pamphlet prepared by the U.S. Environmental Protection Agency entitled Protect Your Family From Lead in Your Home.
- Including certain warning language in the contract, as well as signed statements from all parties verifying that all disclosures, including giving the pamphlet, were made. (You should contact a contract attorney or real estate attorney to assist you with this.)
- Keeping the signed acknowledgements for three years as proof of compliance
- Giving buyers the opportunity to test the housing for lead

If you fail to comply with the regulations set forth by the Residential Lead Based Paint Hazard Reduction Act, the buyer can sue you for triple the amount of damages suffered, even if the only damages suffered were the costs to repaint the house.

*Image courtesy of Stockfreeimages.com

Landlords, Tenants, and Lease Agreements

Lease AgreementLandlord and Tenant disputes are hardly rare in the legal system, and many times the issues are the result of a poorly drafted lease agreement in which the tenant or landlord did not know their rights and responsibilities.

Language in a lease agreement is of the utmost importance. One of the best examples of this is the word “bi-monthly.” The word means both twice a month and once every-other month; this is a big difference, and this ambiguity is completely unacceptable in a contract.

Tenants should be weary when entering into a lease agreement, especially for a commercial property where the result of negligence can be much more severe. Landlords should have attorneys who draw up the lease agreements, and the attorneys draft these documents to benefit their client. Many of the tenant’s rights and landlord’s responsibilities are purposely left out because some tenants will not correctly review the agreement. Having an attorney review the document will benefit you in the long run.

If you are thinking about signing a lease agreement or any other type of contract, contact a Florida Real Estate attorney to review the contract before you sign.

*Image courtesy of Stockfreeimages.com

Real Estate Closing Process in Florida

Image courtesy of Stockfreeimages.comThe real estate closing process in Florida customarily follows a series of steps. As a result, even the simplest transaction can take between 30-45 days to close.

Once the buyer and seller of a property have agreed to an offer, it is drafted in writing, signed by the buyer and seller, and an initial escrow deposit is made by the buyer.

After the escrow deposit is made, the buyer’s lender or real estate agent (depended on whether the transaction is a cash sale or being financed) will send a request for title to a closing attorney chosen by the buyer.

The closing attorney will then process the file by ordering documents such as tax information, loan payoff statements, and inspection reports. At the same time, the attorney will order a title search from an insurance underwriter. This searches any documents in public record that may affect the title of the house such as deeds, liens, or divorce settlements.

If everything is clear after reviewing the documents, the closing attorney will verify that the “seller” is the legal owner of the property and will make note of any debts owed.

The attorney will then prepare all of the closing documents, such as a HUD Form 1, if a RESPA transaction, or a Closing Statement, a Warranty Deed, and any Affidavits that may be needed for clearing title. These documents may go through several drafts and revisions, but they will be approved by the buyer and seller well in advance of the actual closing.

Finally, a date and time is scheduled for both parties to show up and sign the closing documents, this process also maybe done electronically. After this is complete, the transaction will disburse, and certain documents will be sent to the county in which the property is located to be recorded.

Does this process sound a little confusing?

It is. That is why it is important to find a real estate attorney to help move the process along in an efficient manner.

Sources: Federal Title & Escrow Company, Trulia

Now is the Time for Foreign Investment in Florida

Foreing Investment in FloridaThe diminished value of the U.S. Dollar is still offering the opportunity to make money for foreigners who invest in real estate in Florida.

With the rise in short-sales and foreclosures, foreign investors are able to buy properties for a low cost. Investors are able to buy a multi-family home for the cost of an efficient apartment in their own country.

In addition, because many Floridians are now renting instead of buying, there is an opportunity to make a true investment that will gain profit not only from an eventual resale, but also through renting out properties such as condos, which many foreign investors are buying in bulk.

Management and repair costs are also lower in Florida than in many foreign countries. Foreign investors who rent out some properties are estimated to receive a 10-15% return rate.

Even if you are looking to buy a second home on one of Florida’s sunny beaches, renting the property out on a seasonal basis can still result in profit gain (not to mention a nice place to get away.)

Foreign investment in Florida is becoming more popular, and, as a result, the number of properties available is diminishing, and the price of these properties is expected to increase as the demand does. The trend is already in full affect in South Florida areas such as Miami, and it is expected to be replicated in other coastal areas of Florida in a South to North pattern.

Sources: Condo Owner, Equity First

*Image courtesy of stockfreeimages.com

Short Sales for Non-Delinquent Borrowers in Florida and Across the U.S.

Starting TODAY, for the first time ever, borrowers, in Florida and across the U.S., who have never missed a mortgage payment will be able to short sell their houses if they can demonstrate a hardship, such as loss of employment or the death of a spouse.

This new rule will allow for underwater homeowners to get rid of their mortgage and also take advantage of the Mortgage Forgiveness Debt Relief Act of 2007, which is expected to expire at the end of the year.

Previously, only delinquent borrowers have been eligible for short sales.

There is a downside. The average person suffers a 150 point credit score loss after a short sale. This will be no different for non-delinquent homeowners because there is no special coding that differentiates them from those who went months without paying their mortgages.

Photo courtesy of stockfreeimages.comThe Federal Housing Finance Agency (FHFA) is currently in discussions with the credit industry to determine if and how this new law will affect credit scoring, but no solution has been found as of yet.

If you are considering a short sale, you should consult an attorney to discuss your options. There are many things changing in the housing market, and it is important to have all of the facts before making a decision.

Source: Inman News

A New Generation of House Flippers

The housing market is starting to show signs of life again, attracting a new generation of “house flippers.”

Areas of the country that were greatly affected by the housing crash are beginning to regain strength. According to the research firm RealtyTrac, the number of flips nationwide rose 25 percent during the first half of 2012, and the average gross profit was $29,342.

Florida is doing especially well in the recovery process, coming in second to California. Miami, in particular, is ranked the 4th most popular city in the country for flipping houses. There are numerous investors and home buyers competing for a small number of listings, which has led to bidding wars and exuberant offers. As a result, RealtyTrac has found that the average gross profit for flipping a home in Miami is $38,943, well above the national average.

Investors are able to get great deals on foreclosures and short sales, and buyers are eager to take advantage of today’s record-low interest rates. Loan applications have tripled in the past few months and the market shows few signs of slowing, according to Justin Konz, an executive at Restoration Capital, a “hard-money” lender that provides fast, short-term financing for flippers.

The old generation of house flippers relied solely on time to appreciate the value of their houses, but the new generation is buying distressed realty, fixing it up, and then selling it to make a profit. Not only are the flippers benefiting from this, but they are also providing an important function towards the recovery of the housing market.

If you have questions about house flipping or other real estate matters, please contact Boyer Law Firm. We will be happy to help!

Don’t Be A Victim: Fraudulent Out-of-Country Buyers

Most foreign property buyers have a legitimate interest in buying a property in the U.S. However, the increased number of scams in the real estate market from fraudulent out of state buyers have increased, causing title companies and real estate attorneys to lose time and money.

How the scams are conducted:

The first person that is contacted by the fraudulent party is usually the real estate agent. After they inquire about the property, they send information proving that they have the funds to purchase the property, and then ask to be referred to an attorney.

After the “buyer” gets in contact with the attorney, he sends a fake cashier’s check and asks the attorney to deposit the check in a trust account. Once the scammer knows the check is in the trust account, he will come up with an excuse to ask for the money back and have it deposit in a foreign bank account. When the attorney’s bank realizes that the check was fake it will be too late to recover the money that was drawn from the attorney’s trust account.

In most instances where scams take place, the prospective client will use an email address from one of the large services instead of a personal website address, claim to be a professional with a title that suggests wealth, or mainly be interested in land that is vacant. To avoid these scams, the first thing real estate agents should do is to confirm the identity of the client by verifying through a letter that the person is the true owner of the record.

Tips for Selling Your Home

With the Florida real estate market improving, many sellers are looking for ways to improve the marketability of their homes.  One way homes are made more attractive to potential buyers is through professional photography.  Good pictures can be the difference between receiving multiple offers and contracting to sell your home within two weeks at your preferred price, and a similar unit remaining on the market for five to six months before being listed.  In addition to location, price range and size, photos have been found to be among the most useful features of online home searches.  To ensure your property is being marketed as best as possible, consider the following tips:

-        Evaluate the agent

-        Use compelling shots

-        Choose the right amount of photos

-        Do not do it yourself

-        Pick the best views

-        Give final approval

Providing photographs to help sell your home is only one of the services that may be provided by real estate brokers and sales associates here in Florida.  To learn about what services real estate professionals are required to provide, or what to look for when buying or selling a home or other real estate, please contact Boyer Law Firm.

Information provided by: http://online.wsj.com/article/SB10000872396390444812704577605310134435428.html?mod=WSJ_article_comments#articleTabs%3Darticle

 

How to Invest in Real Estate?

As the prices of real estate are getting lower and lower, it is easier for average people to invest in real estate.

According to Investopedia, there are five simple ways to invest in real estate, which are:

  1. Buying rental properties- this is a good source of income once the mortgage is paid off (if applicable) as the rents usually cover the mortgage, taxes and costs of maintaining the property.
  2. Find a Real Estate Investment group- the companies help investors buy through the company and will maintain and manage the property for the investor.
  3. Real Estate Trading- this is pretty much known as “flipping” properties, which is purchasing the property for a short period of time, and then sell after a couple of months for profit.
  4. Real Estate Investment Trust- A REIT is created when a corporation (or trust) uses investors’ money to purchase and operate income properties. These are like stock.
  5. Leverage- this is when have leverage to play around with the investment because the interest on the mortgage is low, or you have enough equity in the home.  

Real Estate can be a great long term investment for you, your family or business. If you have any Real Estate questions please do not hesitate to contact us.
Information obtained from Source: http://www.sfgate.com/business/investopedia/article/How-Much-Money-Do-You-Need-To-Invest-In-Real-3700843.php

Protecting Your Best Investment

The video below is a great video to watch as it explains the important of a closing and Owner’s Title Insurance Policies when purchasing Florida Real Estate.

Protecting Your Best Investment: Knowledge is Power

This video also explains why it is so important to have a Closing Title Agency, that does a clear thorough title search to clear title, cutting corners can be burden once the property is in your name as it creates issues with title.

At Boyer Law Firm, we are dedicated to perform your closings in a efficient and timely manner. If you need help as a Buyer or Seller, please do not hesitate to contact us.

Are Short Sales Making a Comeback?

Short sales occur when banks allow the owner to sell for less than the amount owed on the mortgage.” One type of short sale is a pre-foreclosure sale, which increased by 15% in the fourth quarter of 2011 over the same period the previous year. One reason for the growth in short sales was the decline in sales of bank-owned properties “amid concerns about legal challenges to foreclosure processing.” Miami, in particular, experienced more pre-foreclosure sales than bank-owned sales.

If you have a troubled loan or another reason for needing help making a short sale, do not hesitate to call Boyer Law Firm. We can help you obtain the result you are looking for.

Information for this article was obtained from http://blogs.wsj.com/developments/2012/03/01/short-sales-stepping-out-report-shows/.

Having Trouble with your Mortgage Lender?

Has it taken an extremely long amount of time to refinance, to close, or just get a response from your lender? There is a new place where borrowers can file a complaint that many may not know about.

The Consumer Financial Protection Bureau “began accepting such complaints this month.” One of the aims of the Consumer Financial Protection Bureau is to “protect consumers from risky loans” and to accomplish the task it looks for “violations of mortgage laws and other issues.” You can also turn to such places as the Better Business Bureau, any number of government agencies, state banking departments, and many others. There are also ways you can try to avoid having problems with your lender.

One way is to do your homework. Know whom the lenders are by talking to them, asking for detailed information, talk to people in the industry, or look for reviews. One person within the industry says to ask a loan officer for their cell phone number because if they refuse, it “could mean that he or she may not be readily available through the process.” Doing your homework before you get a loan can help you save time, money, and unnecessary stress in the long run. A Florida attorney, such as attorneys at Boyer Law Firm, can also help you review these documents for technicalities that are normally missed.

Information for this article was obtained from http://www.nytimes.com/2012/01/29/realestate/mortgages-on-troubleshooting.html?_r=2.

Homes Cost enough as it is, So Cut down Your Closing Costs

Buying a home can be stressful, time consuming, and put a little pressure on your pocket, so don’t let a lending company put even more pressure on your wallet for unnecessary closing costs.

Many lending companies will have costs built into their contracts that are unnecessary or just downright redundant and you do not want to pay for the same thing twice. For example, some companies will charge an origination fee and an application fee.

Essentially, those are the same thing and if you truly plan on purchasing a mortgage there is no need to pay for both. Another example is a processing fee, but such a fee should be included in the origination fee because obtaining a mortgage is essentially just processing papers.

If you are looking to buy a home and want to make sure that you are not overpaying, contact us today. Boyer Law Firm has successfully closed many real estate closings including short sales and regular home purchases. Save some money from those unnecessary fees and buy something for your new home when closing with us.

For more information about the types of unnecessary fees, please read the article from which this information was taken http://www.chicagotribune.com/classified/realestate/sc-cons-0105-junk-fees-20120106,0,1118657.story.

Supply and Demand do not Apply

Basic economics will teach you that when supply is up demand will be down and when demand is up supply will be down. This is not the case when it comes to the availability of affordable housing provided from November statistics. Apparently the number of available houses is up and so it the number of home sales. With mortgage rates being at almost record lows, homebuyers who have not been able to afford homes the past few years are able to get out there and sign contracts. There is really no end in sight in the near future.

As more foreclosures loom in the coming New Year, increasing availability of affordable housing also comes into the New Year. More homes in foreclosure means there will be more houses that need to be sold and will likely be sold at lower prices. These lower prices coupled with lower mortgage rates will result in more buyers, first time and otherwise, being able to afford a previously lived in house. The New Year looks to bring a stability back to the market and a resurgence in the American dream.

Information for this article was taken from http://www.bloomberg.com/news/2011-12-29/pending-u-s-home-sales-climb-more-than-forecast-7-3-on-declining-prices.html.

Confidence on the Rise

Over the past year, home prices in the United States have decreased at a slower pace. This suggests possible stability to the market coming in early 2012. The signs of stability are a result of fewer unsold homes on the market, an increase in new home construction, and a rise in builder confidence. For those looking to build or buy homes this is good news. The Federal Reserve has stated that it will keep the benchmark interest rate near zero until at least the summer of 2013. In addition, it experts have shown that many home payments are actually less than some rental payments now.

For homebuyers looking to secure financing or just looking for help buying a home, Boyer Law Firm can help. We have experience helping clients with a number of issues relating to real estate. If you would like legal help with the purchase or sale of real estate, please call the Boyer Law Firm Today.

Information taken from http://www.bloomberg.com/news/2011-12-27/home-prices-in-u-s-probably-fell-at-slower-pace-as-market-gained-traction.html. Please read the article for more information.

Florida Tops the Charts for Foreign Investors Buying Homes in the U.S.

According to online searches for homes in the United States, Florida has claimed five of the top ten spots for cities searched for by foreign investors. Orlando, Kissimmee, and Pompano-Beach all place in the top five and Miami and Davenport help to round out the top ten. The only other state to claim more than one spot in the top ten was Arizona. Point2Homes.com reported this information on December 19, 2011.

While this does not necessarily mean that Florida’s housing market is on the rise again, it does suggest Florida remains attractive to people from the United States and elsewhere when looking for a home. It does mean that Floridians looking to sell their homes have a class of potential buyers they may not have thought about before. Dealing with a foreign investor as a prospective buyer can be tricky because they may lack the knowledge of American laws or there may be a language barrier among other things. At the Boyer Law Firm, we are fully capable and prepared to assist you in the buying or selling of your home. Whether you are a foreign investor looking to buy a home, or you are looking to sell your home to a foreign investor, we are here to help.

Prices Up, Foreclosures Remains

A number of areas in South Florida have seen a rise in the median list price of houses and other properties over the past year.  Those areas have seen increases in the median list prices for home sales between 15% and as high as 29.5%.  This does not mean that the housing market is back and stable, but it does show hope for Floridians looking to sell and others looking to buy.  The state continues to see foreclosures from north to south and the state’s foreclosure inventory continues to grow.

Both buyers and sellers need to be aware of certain things when contemplating the buying or selling of a house.  Is the market on the upswing or the downswing, can I afford this house, does the seller have good title, what are my options to close, can I put conditions on the sale of my house?  These and other questions are some that people often never ask, but can be important to the seller, the buyer, or both.  If you are thinking about buying or selling property and you need questions answered, or you want the comfort of having an experienced attorney on your side, then please call the Boyer Law Firm.  We are here to help.

To read more on this article: http://www.housingwire.com/2011/12/15/median-home-list-prices-rise-4-05-over-last-year

Timeshare Fraud in Florida

Have you been the target of timeshare fraud in the past two years? If you have, you are not alone. The State Attorney’s office in Florida has received over 11,000 complaints of timeshare fraud in the past couple years and is trying to pass a bill that would further regulate the trade and give more protection to consumers and owners alike. It has become big business in the past few years due to a down economy and owners of timeshares, like many others, looking for some extra cash.

Many companies that have become involved in the scam have used telemarketers to call timeshare owners and tell them that there is an interested buyer. However, instead of having a written agreement for the owner to look over and sign, the telemarketers tell the owners that they will have to pay a fee upfront. Usually that fee is around $2,000 and after the payment is made, the deal is never completed. Do not let this happen to you, help is on the way.

The bill that the State’s Attorney General is trying to have passed will require there to be a written agreement for the timeshare owner to look over before paying any money. It will also allow the timeshare owners to cancel the agreement within seven days and receive a full refund of any payment made by the timeshare owner. This bill has not yet passed and if you feel that you have been taken advantage of by a company in a similar situation, then please call Boyer Law Firm, we are here to help.

Were You Wrongly Foreclosed On?

For almost a year, banks have been overhauling their foreclosure practices. Many might simply ask, why? The reason is that a significant number of homeowners have been foreclosed on because of errors in the processing and filing of foreclosures. If you were foreclosed on during the years of 2009 and 2010, there is a chance that you were wrongly foreclosed on. There is, however, light at the end of the tunnel. In order to reach that light though, you may need some guidance. Boyer Law Firm can help provide you with the guidance it will take to properly have your case reviewed.

In an effort to help right the wrongs of 2009 and 2010, and in order to help fix the housing industry in the United States, banks are setting up a system that will enable homeowners to have their cases reviewed. The banks have stated they will set up a toll-free number, a website, and will conduct advertising to get the word out. How aggressively the banks will advertise the information is yet to be seen, but if you contact Boyer Law Firm we can get you on the right track. Call today and get the information you need to find out if the foreclosure of your home was due to error on the part of the bank.
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