Study Backs FEMA
In Northern Palm Beach County if you live in the unincorporaetd area, North Palm Beach, Juno Beach and Jupiter you enjoy a CRS rating of 5 which provides a 25%https://randrflorida.com/risk-rating-2-0-and-the-community-rating-services-crs-discount/ discount on your flood insurance.
Source: Study Backs FEMA
Both FHA and VA have recently announced upcoming reductions in their Guarantee and Mortgage Insurance Fees that are upcoming.
Both FHA and VA have recently announced upcoming reductions in their Guarantee and Mortgage Insurance Fees that are upcoming.
For VA, for loans closing on or after April 7, the premium drops .15%. This would save a veteran $600 on a VA loan amount of $400,000. This amount is typically financed, so it won
How soon after the end of a lease must a Landlord return my security deposit in Florida?
A Landlord must return a Tenant’s security deposit, together with interest if otherwise required, to the Tenant no more than 15 days after the Tenant leaves the leased property. The Landlord may claim all or a portion of the security deposit only after giving the Tenant written notice, by certified mail to the Tenant’s last known mailing address, of the Landlord’s intention to keep the deposit and the reason for keeping it. The Landlord
How much can a Florida Condominium Association charge for Estoppell Certificate(s)?
This is usually a shocker to the Seller at Closing. The Seller is required to convey clear title and thus the Closing Agent requests “estoppels” from the Condominium Association. These basically show that the Seller is (or is not) current on their monthly fees, if a balance is due as a condition of the required association approval of the sale and so forth.
As of July 1, 2017, there is a cap on the amount an association can charge for an estoppel certificate on the property. An association can charge up to $250 to unit owners who are current in their assessments. They can charge an additional $100 for “expedited” estoppel certificates (delivered within three business days), and another $150 to owners who are delinquent in their assessments. This is a maximum of $500 for an expedited, delinquent estoppel certificate. The new law also requires certificates to be delivered within 10 business days and remain valid for 30 days. It also standardizes the information each certificate must include so that each estoppel contains the same information.
When must the Seller of a condominium deliver the requested association documents to the Buyer?
First, this is for Condomiuns NOT Home Owners Associations. And the Contract Condominium Rider must have the correct box cheched “requesting” the following documents from the Seller. That said, the short answer is…there is no specified time for the Seller to provide these to the Buyer. BUT…
According to the rider, and state laws, the Seller must provide: CURRENT declaration of condominium, articles of incorporation, bylaws, and rules of the association, and a copy of the most recent year-end financial information, and the frequently asked questions and answers document. It is best to get these from the association or management company as if they are not complete the the Buyer could have an “out”. Also, the statute does NOT specify the format of these documents. If the Buyer accepts an electronic copy then great. Otherwise it must be a printed hard copy. And in either case get a Receipt of Condominium Documents form signed by the Buyer. Because…
The Seller of residential condominium resale does NOT have a set amount of time in which to provide condominium documents to the buyer. HOWEVER, note that the Buyer’s three-day right to cancel BEGINS once the Buyer has received a FULL and COMPLETE set of the documents, so it is in the best interest of the seller to provide these documents as soon as possible. And, make cure everything is up to dat and complete.
- « Previous Page
- 1
- …
- 31
- 32
- 33
- 34
- 35
- …
- 144
- Next Page »
