Entries for the ‘Short Sale’ Category

What Does it Mean to be “Under Water”?

Many times you may hear that a homeowner is “under water“?      If the current market value of your house is less than the amount you still owe on the mortgage, then you are “under water”.   For example if the current market value of your house is $150,000 and you owe $250,000 on [...]

Comments (1)

Is the Seller’s Real Property Disclosure Form Required?

No.  The Seller’s Property Disclosure form is not a legal requirement.   However, it is strongly recommended that Florida Real Estate Agents have their Sellers use the form.   Sellers have a duty to disclosure any property defects they know about that would materially affect the property’s value to the buyer and that aren’t readily [...]

Leave a Comment

What is Erosion?

Erosion is the gradual loss of land due to natural forces .   It is the process of eroding or being eroded by wind, water, or other natural agents.

Leave a Comment

What is the R Value of Insulation?

The measure of the effectiveness of insulation is its resistance to heat flow, or R-value.  The higher the R-value, the better the energy efficiency.  The Department of Energy has established minimum R-values based on zip codes.  R-values are additive.  As an example, if a home has an R-19 insulation in the ceiling and the owner [...]

Leave a Comment

Who are the Parties to a Mortgage?

There are two parties to a mortgage: (1) the mortgagor, or borrower (debtor), and (2) the mortgagee, or lender (creditor).   The mortgagor owns the property and the mortgagee owns the mortgage.

Leave a Comment

What is Hazard Insurance?

Hazard insurance protects a property owner from specified losses, fire, windstorm or other natural events.  A property owner will receive compensation to cover the cost of any damaged incurred by such events if the specific event was covered within the policy.    Typically a Lender will want a borrower to pay for the first year’s [...]

Comments (1)

What is a Credit Report?

A credit report details the credit history and current credit status of an individual.  A credit report is used as a primary tool in determining credit worthiness.

Leave a Comment

Do You Want to Purchase Property Like a Pro?

Click on this link… How to Purchase Property Like a Pro.

Leave a Comment

What is a Notary Fee?

A notary may charge for affixing her name and seal to various documents authenticating the parties’ execution of these documents.

Leave a Comment

What is a Survey Fee?

The Title insurance company or Lender may require a survey of the property if you are obtaining a mortgage loan.  The survey is to verify the boundaries of the property and that your lot has not been encroached upon by any structures.   Costs for a survey typically range from $250-$350. Usually the Borrower pays for [...]

Leave a Comment

SEARCH PROPERTY LISTINGS