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Alliance Realty Group
14090 Metropolis Ave Ste 206
Fort Myers, FL, 33912
Phone: 239-274-6637
Thursday | February 28, 2013

Things to consider when buying a home: Flood Zones

Flood zones are used to describe the risk a parcel of real estate or home for sale has of flooding.  The government establishes them.  All real estate and all homes for sale are considered to be at some risk of flooding (no homes have zero risk) although some real estate is obviously of less risk than others.

 

If a home is in a high-risk flood zone, the real estate mortgage lender will probably require the homebuyer purchase flood insurance before approving the mortgage.  If you are required to obtain flood insurance in order to secure a mortgage for a home for sale you wish to buy, it will have to be bought through the Federal Emergency Management Agency (FEMA).  No private insurance companies in the United States write flood insurance policies.

 

Your realtor will probably know right away which flood zone the home for sale is in, and the property survey will typically state it authoritatively. 

 

Disclaimer:         

The material on our website is intended to provide only general information and comments as a courtesy to the general public and potential real estate clients. Although we make our best efforts to ensure that the information found on our website is accurate and timely, we cannot, and do not, guarantee that the information is either. Nor do we guarantee the accuracy of any information contained on websites to which our website provide links.

Do not, under any circumstances, rely on information found on our website as a replacement for sound professional advice from individuals who specialize in such matters. Legal, insurance, and other related subjects are often complicated. For assistance with your specific real estate questions or inquiries please contact one of our knowledgeable real estate agents, any of whom will be pleased to determine whether our agency can assist you.

 


Friday | February 15, 2013

Buying A Vacation Rental Home-The Laws

When buying a home for vacation rental purposes, local and state regulatory agencies typically have a number of legal and regulatory standards the home must meet.

By and large most laws and regulations governing vacation rental properties will vary widely from state to state; even from one county within a state to another. 

When it comes to vacation rentals very legal jurisdiction has it’s own rules regarding things such as fire extinguishers, occupancy requirements, emergency lighting, sanitation issues, handicap access—you name it. This is especially true if you are considering buying a home in an area that strongly depends on tourism and vacation renters.

Sales taxes are typically assessed against short-term rentals.  If you are renting your place out for, say, one week or weekend at a time, you will almost certainly be subject to collecting and remitting sales taxes to your state and county taxing authorities.

Disclaimer:

The material on our website is intended to provide only general information and comments as a courtesy to the general public and potential real estate clients. Although we make our best efforts to ensure that the information found on our website is accurate and timely, we cannot, and do not, guarantee that the information is either. Nor do we guarantee the accuracy of any information contained on websites to which our website provide links.

Do not, under any circumstances, rely on information found on our website as a replacement for sound professional advice from individuals who specialize in such matters. Legal, insurance, and other related subjects are often complicated. For assistance with your specific real estate questions or inquiries please contact one of our knowledgeable real estate agents, any of whom will be pleased to determine whether our agency can assist you.

 


Friday | February 08, 2013

The Legalities of Financing your New Home

The real estate financing process—whether it’s home mortgages to purchase houses for sale, or commercial real estate loans to buy commercial buildings—is heavily governed by various real estate laws and regulations.

There are a myriad of labyrinthian laws and regulations pertaining to real estate financing at the state level.  Escrow requirements, loan structuring, title, deeds, etc. are all so complex that even real estate attorneys have trouble keeping them all straight.  Not to mention the web of legalities involved in foreclosure law if the homeowner defaults on the residential real estate mortgage used to buy a home for sale.

Federal laws and regulations governing real estate mortgage lending practices are also many, varied and complex.  A number of more stringent requirements a homebuyer must meet in order to qualify for a real estate mortgage to buy a home for sale were enacted shortly after the bursting of the real estate housing bubble in order to prevent homebuyers from borrowing more than they can repay.

Your realtor and real estate mortgage lender can help guide you through the maze of legalities associated with taking out a residential mortgage or commercial real estate loan.

Disclaimer:

The material on our website is intended to provide only general information and comments as a courtesy to the general public and potential real estate clients. Although we make our best efforts to ensure that the information found on our website is accurate and timely, we cannot, and do not, guarantee that the information is either. Nor do we guarantee the accuracy of any information contained on websites to which our website provide links.

Do not, under any circumstances, rely on information found on our website as a replacement for sound professional advice from individuals who specialize in such matters. Legal, insurance, and other related subjects are often complicated. For assistance with your specific real estate questions or inquiries please contact one of our knowledgeable real estate agents, any of whom will be pleased to determine whether our agency can assist you.

 


Friday | February 01, 2013

Commercial Real Estate – Stay Safe & Legal

Regardless of whether you are selling a piece of commercial real estate or leasing it to someone, as the seller or landlord it is incumbent on you to ensure that the commercial real estate property is safe and legal.  Otherwise, you could (probably will) be held liable.

Make sure the commercial real estate is up to code.  Stairways, balconies, elevators, electrical wiring, etc. are all in good repair and inspected.  You want to be able to show that certificate of inspection to an insurance company and/ or jury if something goes wrong.

Check for environmental issues.  Asbestos and mesothelioma are big issues in the courts these days.  So are cases of illegal methamphetamine manufacture resulting in health issues.  Not only are you—the owner of the commercial real estate—responsible for clean up, you are also legally required to disclose it to a renter or buyer.

Wheelchair and other issues of compliance with the Americans with Disabilities Act (ADA) are also important.  If your commercial real estate is not in compliance you can be sued.

Make sure you ask your realtor about these and other issues if trying to sell or lease your commercial real estate and keep a good lawyer around…just in case.

Disclaimer:

The material on our website is intended to provide only general information and comments as a courtesy to the general public and potential real estate clients. Although we make our best efforts to ensure that the information found on our website is accurate and timely, we cannot, and do not, guarantee that the information is either. Nor do we guarantee the accuracy of any information contained on websites to which our website provide links.

Do not, under any circumstances, rely on information found on our website as a replacement for sound professional advice from individuals who specialize in such matters. Legal, insurance, and other related subjects are often complicated. For assistance with your specific real estate questions or inquiries please contact one of our knowledgeable real estate agents, any of whom will be pleased to determine whether our agency can assist you.


Tuesday | January 22, 2013

Buying Commercial Real Estate – It’s a Business

When buying commercial real estate for sale, the buyer must treat the transaction like any other business cost.  Will this particular commercial property meet business needs, is it reasonably priced and will it contribute to profitability?

The commercial real estate property for sale must meet the needs of the business.  A business owner planning to open a retail outlet is going to spend far too much or be stuck with a lot of pricey renovations if the commercial real estate they buy is a restaurant with a fully equipped kitchen.  On the other hand, unless the property is uniquely suited in some way to the business’ needs a lot of commercial real estate is interchangeable.  Very few business people “fall in love” with a property and just have to have it. 

Price is also critical.  The commercial real estate parcel being considered for purchase must fall within the business’ budget.  Too high, and the business may spend so much on purchasing commercial real estate that there is nothing left over for payroll, supplies or other day to day operations.

Disclaimer:

The material on our website is intended to provide only general information and comments as a courtesy to the general public and potential real estate clients. Although we make our best efforts to ensure that the information found on our website is accurate and timely, we cannot, and do not, guarantee that the information is either. Nor do we guarantee the accuracy of any information contained on websites to which our website provide links.

Do not, under any circumstances, rely on information found on our website as a replacement for sound professional advice from individuals who specialize in such matters. Legal, insurance, and other related subjects are often complicated. For assistance with your specific real estate questions or inquiries please contact one of our knowledgeable real estate agents, any of whom will be pleased to determine whether our agency can assist you.