It's your first time closing on a new piece of real estate property, and you don't want to make any mistakes. What are you supposed to do at closing and what should you expect?
Buying your first home is a big step in responsibility and investment. It can mean that you are able to accumulate a great deal of worth quickly when the property market is booming. But it also means that you will face monthly mortgage repayments that can be imposing on your financial life.
Both residential and commercial real estate closings used to involve both the seller and buyer sitting at a table to finalize a purchase, but a lot has changed over the years. Most closings are now handled electronically at a distance. While this may be convenient for some, it makes it even more important for sellers and buyers to practice some due diligence of their own to ensure their closing goes as smoothly as expected.
More than 3.3 million people who live in Florida are 65 and older. Five percent of residents are 80 or older.
Just last week, a report published by the Mortgage Bankers Association (MBA) captured how commercial lending in 2018 was projected to outpace previous years. The study's authors also noted that they're expecting multifamily and commercial origination loans to reach $532 billion this year, at least $2 billion more than last year.
As we recently discussed, buying commercial property means that you need to do your due diligence. This isn't always easy to do when you have your mind set on purchasing a specific property. We realize that you have your company's interests in mind when you are reviewing potential properties. Thinking about the possibilities may cloud your ability to notice if something is amiss.
Commercial real estate transactions are handled differently from residential ones. With the former, there is less governmental oversight and few disclosures that buyers and sellers must sign. This can create liability issues for both parties involved in the transaction.
Finding the perfect property to buy for your business is exhilarating and frightening all at the same time. You are probably excited about the possibilities that the property will offer your business but you are concerned that something is going to go wrong before closing. This is understandable but learning a bit about the process and what to expect might help you feel a bit less stress.
Purchasing a commercial property, for whatever reason, can be one of the most exciting purchases you will ever make in your life. You might be venturing into the restaurant industry or you are opening a retail store. Maybe you are opening a warehouse. It doesn't matter what it is you are doing, the purchase is a big one and one that shouldn't be taken lightly. So, what are some of the common commercial real estate title problems you could encounter?
Real estate is a big part of Florida's economy, and individuals and businesses alike are often looking for the right place to make a base. Between new shops needing a storefront to second homes near the shore, someone is always buying property to make a dream come true.