featured
Home Sale Fell Apart? What Happens To Buyer’s Deposit?
You’re this close to selling your property. And suddenly, the buyer is no longer able to close the deal. The sale falls apart. Here is what can happen to the buyer’s security deposit to compensate for damages.
Avoid Capital Gains Taxes When Selling Your Investment Property
The most common way to avoid paying taxes on the profits from the sale of your real estate investment is by doing a 1031 exchange. And although the process can be a bit intricate, it’s very doable and highly beneficial.
When to start packing to move out once you’re under contract
Start packing to move out? When? Commonly asked questions when your home goes under contract.
Do not start packing to move out until, among other terms, the below four contract contingencies have cleared between you and the buyer.
- Inspection: Upon completion of property inspections within the inspection period established between seller and buyer, the buyer may withdraw or renegotiate their offer based on inspection findings. So do not start packing.
- Clean Title: This is a seller contingency. So as long as seller provides a clean and marketable title, the buyer cannot utilize this contingency to withdraw or renegotiate their offer based on title findings.
- Appraisal: Upon completion of evaluation within the appraisal period established between seller and buyer, the buyer may withdraw or renegotiate their offer should appraisal value come at below purchase price. Again, do not yet start packing to move out.
- Letter of Commitment (LOC) or Loan Guarantee: Buyer must provide LOC to the seller within LOC period established between seller and buyer. Until then, the buyer can withdraw or renegotiate their offer based on the buyer’s lender’s inability to guarantee the loan.
There are many other terms to be on the lookout. But clearing these four contingencies makes it a safer bet to start packing to move out.
Start Packing To Move Out Handy Links
Below are a few helpful links to aid the process of “where to look” to get things done when you are ready to move to a new home.
- Change of address
- FPL (connect or disconnect electricity)
- Water (connect or disconnect water)
- Schedule a Bulk Waste Pick Up
- Yelp.com: go to this site and type “moving services” to check out companies and reviews on them.
- Amazon.com: type “moving boxes” on the search box and get great deals (free alternative: you can go to your local supermarket during product unloading time to get their boxes. This is usually done around 6am or 7 am).
- Evernote (for you techies that your life revolves around your phone, keep track of all items/schedules via this fantastic app).
8440 SW 114 ST MIAMI FL $1,399,500
Get Your Home Value or Call (305) 305-1535
REBUILT in 2009. Completely surrounded by million dollar homes. Locals only traffic due its unique location. Approximately 1-acre lot with manicured vegetation. New roof. Hurricane impact windows. Marble flooring underneath vaulted ceilings. Two master bedrooms. Updated kitchen with wood cabinetry and stainless steel appliances. Coral tiling underneath expansive covered patio. Extra large pool with hot-tub. Three new AC units. New plumbing. New electrical wiring and panel. Updated bathrooms. Gated entry.
- Transaction Type: Seller representation
- Short sale or foreclosure: no / no
- Type of property: single family
- Living and lot size (sqft): 6,911 / 39,901
- Year built: 1986 and rebuilt in 2009
- Beds, full baths, half baths: 6 / 4 / 1
- Garage: 2
- Water front or access: no / no
- Exterior walls and roof: CBS / shingles
- Floor / pool: marble / yes
- Heating and cooling: central / central
- sewer: well and city
Local Schools:
Location:
100 Most Influential Real Estate Agents 2016
Thank you to Mastermind 2016 Group for the invitation to speak at this event and share some real estate lead generation practices among top agents in South Florida. And also thank you so much for the award: 100 Most Influential Real Estate Agents!
Get Your Home Value or Call (305) 305-1535
Mario Avalos 