For starters, the title company will need a legible, fully executed copy of the contract and all addendums. Also, don’t forget to send the title company the prior title policy and the survey, if no changes have been made. The listing agent should submit an info sheet with contact information for the buyer, seller, buyer’s agent, seller’s agent, mortgage loan originator (MLO) and the attorney for seller and/or buyer. The info sheet should contain the current mailing address, phone number(s), email address(es) of both the buyer and the seller. Verify the real estate commissions and or transaction fees, if any. Read the rest of this entry
Estoppel, what a funny word, but in Title Insurance, it is a word that is used and needed to get you to the closing table!
What exactly is an estoppel? An estoppel letter is typically used in a transfer or conveyance of real property before the Closing transaction. It is a document sent to a homeowners’ association (or condo association), to a city/municipality, or a tenant requesting a payoff of a mortgage, assessments or taxes due, or rental amounts due on a lease, to incorporate these amounts into the Settlement Statement for the buyer and seller of the real estate. It certifies the conditions that must be met by the title company to make sure that nothing is due and owing to the appropriate place at the time of closing. Read the rest of this entry
Maybe. You didn’t think the answer would be that simple, did you?
Under Florida Statutes 720.3085 & 718.116, HOA’s and condo associations now have the right to demand rent payments directly from tenants when the property owner has fallen behind in their assessments. Many tenants are forced into a very uncomfortable and awkward position. Do they pay the HOA as demanded, or do they continue to pay the landlord? Read the rest of this entry
Whether or not to rent your home is an important decision that should be made only after careful thought, deliberation, and planning. This decision could lead to be a very profitable one, or one that could potentially cost you tens of thousands of dollars. A thorough rental agreement can make all the difference in the world. This week I will begin discussing rental/lease agreements, and certain clauses that every homeowner should include in such an agreement. While reading this and upcoming blogs, keep in mind that what I am discussing is for the benefit and protection of the landlord, not necessarily the tenant. Read the rest of this entry