How To Sell A Home In Florida
Florida is a state of diverse culture with a population of 17 million. People who relocate there consider the warm climate, the various activities available and the state’s surroundings ideal for retirement as their primary reasons. The state’s real estate laws are also an attraction to business-minded people.
Sellers in Florida won’t have much of a burden in making real estate deals because of the absence of income tax. Standard tests on homes like that involving molds and environmental hazards are not also required in this southern state. However, home sellers who do these testing on their property should reveal the results of these tests to potential buyers.
Since Florida is a peninsula, many homes there located near the beaches are vulnerable to hurricanes and similar natural disasters. It is, therefore, important for a seller to reveal the sturdiness of his or her home because many buyers wanting a home fronting a beach would surely be a little meticulous. This information should be listed in the standard property disclosure form. So whether your home had been damaged once or a few times by natural disasters, be sure to have them fixed before deciding on selling it.
In South Florida, for instance, hundreds of deals were put aside due to the damage caused by Hurricane Wilma on several houses. That was the main reason why sellers had to pay for house repairs and buyers demanded re-inspections before a contract was closed. Lenders, for their part, required homeowners to fix their damaged roofs before they approved loans. There were also cases where sellers set aside fixing the damage and instead, invested money in escrow for the buyers. In this way, after the deal is closed, the buyers could hire contractors to repair the damaged part of the house. Licensed contractors usually inspect the property and help estimate the amount to be put into escrow.
In Florida, charges on your property may include construction liens, tax liens, mechanics’ liens, unpaid federal and state tax liens and unpaid child support.
At the time you close a contract with a buyer, you may need to pay several charges. These are the remaining balance on a loan if the house had not been fully paid, transfer taxes, documentary stamps on deed, title insurance, property taxes, negotiating closing costs and home inspection. A home inspection charge may range from $150 to $300 depending on the size of the house.
Home inspection covers three types – structural pest control, physical inspection and other inspections. The structural pest control inspection looks into any infestation by pests that destroy wood such as termites, advises on the need for immediate action and provide information on things that could lead to pest infestation. The physical inspection, meanwhile, checks on the roof, plumbing, electrical, heating and other areas of the house. Afterwards, the home inspection firm will issue a written report including suggestions for repair or further check by a specialist. The other inspections cover water conservation, well and septic, seismic, hazardous materials, zoning and building permit compliance, contractors’ home inspection, heating and air conditioning, structural engineering, energy audit and geotechnical.
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