https://www.fleitasarcalaw.com/ Mon, 14 Apr 2025 17:20:11 GMT en-us https://www.fleitasarcalaw.com/blog/how-do-you-calculate-ltv-or-loan-to-value-ratio/ https://www.fleitasarcalaw.com/blog/how-do-you-calculate-ltv-or-loan-to-value-ratio/ Mon, 14 Nov 2022 16:47:46 GMT A lender calculates the LTV by dividing the mortgage amount into the sales price or the appraised value of the property. Lenders use this number to determine the amount of the mortgage that they are going to give you when you decide to purchase a home.

]]> A lender calculates the LTV by dividing the mortgage amount into the sales price or the appraised value of the property. Lenders use this number to determine the amount of the mortgage that they are going to give you when you decide to purchase a home.

]]> https://www.fleitasarcalaw.com/blog/environmental-site-assessments/ https://www.fleitasarcalaw.com/blog/environmental-site-assessments/ Mon, 14 Nov 2022 16:46:54 GMT Depending on the property-type obtaining an Environmental Site Assessment is highly recommended. Typically, properties that would require an environmental site assessment would be gas stations or a dry cleaner. Another consideration is whether you are getting a loan. Generally, depending on the property-type, a lender will require an environmental site assessment prior to closing.

]]> Depending on the property-type obtaining an Environmental Site Assessment is highly recommended. Typically, properties that would require an environmental site assessment would be gas stations or a dry cleaner. Another consideration is whether you are getting a loan. Generally, depending on the property-type, a lender will require an environmental site assessment prior to closing.

]]> https://www.fleitasarcalaw.com/blog/if-i-do-not-have-a-signed-lease-agreement-can-my-landlord-raise-my-rent-whenever-he-or-she-wants-to-do/ https://www.fleitasarcalaw.com/blog/if-i-do-not-have-a-signed-lease-agreement-can-my-landlord-raise-my-rent-whenever-he-or-she-wants-to-do/ Mon, 14 Nov 2022 16:45:03 GMT In Florida, if you do not have a signed lease or if your lease has expired, the landlord has the right to raise your rent. Check your local ordinances periodically for notice requirements that the Landlord must follow prior to increasing your rent.

]]> In Florida, if you do not have a signed lease or if your lease has expired, the landlord has the right to raise your rent. Check your local ordinances periodically for notice requirements that the Landlord must follow prior to increasing your rent.

]]> https://www.fleitasarcalaw.com/blog/if-there-is-no-written-lease-how-much-notice-must-my-landlord-give-me-to-terminate-a-tenancy/ https://www.fleitasarcalaw.com/blog/if-there-is-no-written-lease-how-much-notice-must-my-landlord-give-me-to-terminate-a-tenancy/ Mon, 14 Nov 2022 16:43:49 GMT In Florida, if your lease is from year to year, not less than 60 days. If your lease is from quarter to quarter, not less than 30 days. If your lease is from month to month, not less than 15 days and if your lease is week to week, not less than 7 days notice.

]]> In Florida, if your lease is from year to year, not less than 60 days. If your lease is from quarter to quarter, not less than 30 days. If your lease is from month to month, not less than 15 days and if your lease is week to week, not less than 7 days notice.

]]> https://www.fleitasarcalaw.com/blog/documentary-stamp-taxes/ https://www.fleitasarcalaw.com/blog/documentary-stamp-taxes/ Mon, 14 Nov 2022 16:42:35 GMT In Florida, Documentary stamp taxes are due at a rate of 70 cents per 100 dollars of transferable value (the sales price), with the exception of Miami-Dade County, whose documentary stamp tax is 60 cents per 100 dollars. Documentary stamp taxes on promissory notes are 35 cents per 100 dollars.

]]> In Florida, Documentary stamp taxes are due at a rate of 70 cents per 100 dollars of transferable value (the sales price), with the exception of Miami-Dade County, whose documentary stamp tax is 60 cents per 100 dollars. Documentary stamp taxes on promissory notes are 35 cents per 100 dollars.

]]> https://www.fleitasarcalaw.com/blog/mechanics-liens/ https://www.fleitasarcalaw.com/blog/mechanics-liens/ Mon, 14 Nov 2022 16:40:43 GMT Liens are claims on real estate that are used to secure debt. Failure to pay that debt can result in the mechanics lien or foreclosing on the lien and taking your property.

]]> Liens are claims on real estate that are used to secure debt. Failure to pay that debt can result in the mechanics lien or foreclosing on the lien and taking your property.

]]> https://www.fleitasarcalaw.com/blog/differences-between-a-line-of-credit-and-a-term-loan/ https://www.fleitasarcalaw.com/blog/differences-between-a-line-of-credit-and-a-term-loan/ Mon, 14 Nov 2022 16:39:45 GMT With a line of credit the borrower has recurring access to the funds and can borrow and repay the funds as he or she needs them. A term loan is funded fully at the time of the closing and the borrow repays it over a set schedule over a period of time.

]]> With a line of credit the borrower has recurring access to the funds and can borrow and repay the funds as he or she needs them. A term loan is funded fully at the time of the closing and the borrow repays it over a set schedule over a period of time.

]]> https://www.fleitasarcalaw.com/blog/what-happens-at-the-closing/ https://www.fleitasarcalaw.com/blog/what-happens-at-the-closing/ Mon, 14 Nov 2022 16:38:23 GMT At a traditional sit-down closing, the buyer and their representatives, and the seller and their representatives sit at a table. Documents are executed, and money’s exchanged. Once that happens, the transaction is officially closed.  With the advancements in technology, a traditional “sit-down” closing is now rare.  Now a days, the Buyer and Seller go to…

]]> At a traditional sit-down closing, the buyer and their representatives, and the seller and their representatives sit at a table. Documents are executed, and money’s exchanged. Once that happens, the transaction is officially closed.  With the advancements in technology, a traditional “sit-down” closing is now rare.  Now a days, the Buyer and Seller go to their respective representatives, execute the transaction documents, and then documents are exchanged via courier.

]]> https://www.fleitasarcalaw.com/blog/what-is-a-1031-exchange/ https://www.fleitasarcalaw.com/blog/what-is-a-1031-exchange/ Mon, 14 Nov 2022 16:36:05 GMT Under section 1031 of the Internal Revenue Code, certain types of properties can be exchanged and taxes on the sale can be deferred.

]]> Under section 1031 of the Internal Revenue Code, certain types of properties can be exchanged and taxes on the sale can be deferred.

]]> https://www.fleitasarcalaw.com/blog/what-is-a-closing-statement/ https://www.fleitasarcalaw.com/blog/what-is-a-closing-statement/ Mon, 14 Nov 2022 16:34:41 GMT A closing statement is a document that details all the costs related to a real estate transaction. It is typically prepared by the closing agent and is signed by both the buyer and the seller.

]]> A closing statement is a document that details all the costs related to a real estate transaction. It is typically prepared by the closing agent and is signed by both the buyer and the seller.

]]> https://www.fleitasarcalaw.com/blog/what-is-a-construction-loan/ https://www.fleitasarcalaw.com/blog/what-is-a-construction-loan/ Mon, 14 Nov 2022 16:33:59 GMT A construction loan is a commercial loan to finance the improvements on real property. It has special guidelines to ensure that the project is completed and the repayment takes place thereafter.

]]> A construction loan is a commercial loan to finance the improvements on real property. It has special guidelines to ensure that the project is completed and the repayment takes place thereafter.

]]> https://www.fleitasarcalaw.com/blog/what-is-a-homestead-exemption/ https://www.fleitasarcalaw.com/blog/what-is-a-homestead-exemption/ Mon, 14 Nov 2022 16:32:22 GMT When somebody owns real estate in Florida, and makes it their primary residence, they’re entitled to a homestead exemption. This provides for the assessed value of your property to be reduced. It is a great benefit for us here in the State of Florida.

]]> When somebody owns real estate in Florida, and makes it their primary residence, they’re entitled to a homestead exemption. This provides for the assessed value of your property to be reduced. It is a great benefit for us here in the State of Florida.

]]> https://www.fleitasarcalaw.com/blog/what-is-a-land-trust/ https://www.fleitasarcalaw.com/blog/what-is-a-land-trust/ Mon, 14 Nov 2022 16:30:31 GMT A Florida land trust is a trust agreement that is prepared for someone to buy, sell and hold Florida real estate. Typically it is used for confidentiality purposes as well as asset protection.

]]> A Florida land trust is a trust agreement that is prepared for someone to buy, sell and hold Florida real estate. Typically it is used for confidentiality purposes as well as asset protection.

]]> https://www.fleitasarcalaw.com/blog/what-is-a-notice-of-commencement/ https://www.fleitasarcalaw.com/blog/what-is-a-notice-of-commencement/ Mon, 14 Nov 2022 16:29:54 GMT A notice of commencement signals the beginning of construction. It provides the necessary information to contractors in the event that they need to file certain notices with the property owner to protect their lien rights, under the Florida lien law.

]]> A notice of commencement signals the beginning of construction. It provides the necessary information to contractors in the event that they need to file certain notices with the property owner to protect their lien rights, under the Florida lien law.

]]> https://www.fleitasarcalaw.com/blog/what-is-a-re-issue-credit-on-title-insurance/ https://www.fleitasarcalaw.com/blog/what-is-a-re-issue-credit-on-title-insurance/ Mon, 14 Nov 2022 16:28:00 GMT A reissue credit is available if certain conditions are met. It is a significant savings on the title insurance premium.

]]> A reissue credit is available if certain conditions are met. It is a significant savings on the title insurance premium.

]]> https://www.fleitasarcalaw.com/blog/what-is-a-small-business-administration-loan/ https://www.fleitasarcalaw.com/blog/what-is-a-small-business-administration-loan/ Mon, 14 Nov 2022 16:27:23 GMT A small business administration loan, or SBA loan, is a government backed loan that is administered through your local community bank or credit union. It supports local business and entrepreneurs.

]]> A small business administration loan, or SBA loan, is a government backed loan that is administered through your local community bank or credit union. It supports local business and entrepreneurs.

]]> https://www.fleitasarcalaw.com/blog/what-is-a-survey-and-what-is-the-purpose-of-a-survey/ https://www.fleitasarcalaw.com/blog/what-is-a-survey-and-what-is-the-purpose-of-a-survey/ Mon, 14 Nov 2022 16:26:54 GMT A survey is a sketch of the property performed by a surveyor. It will determine if there are any overlaps, encroachments, or boundary issues with the subject property.

]]> A survey is a sketch of the property performed by a surveyor. It will determine if there are any overlaps, encroachments, or boundary issues with the subject property.

]]> https://www.fleitasarcalaw.com/blog/what-is-an-ad-valorem-tax/ https://www.fleitasarcalaw.com/blog/what-is-an-ad-valorem-tax/ Mon, 14 Nov 2022 16:26:01 GMT In Florida, an ad valorum tax is a tax on real property. It is determined by the property appraiser as of January 1 of that year.

]]> In Florida, an ad valorum tax is a tax on real property. It is determined by the property appraiser as of January 1 of that year.

]]> https://www.fleitasarcalaw.com/blog/what-is-a-non-ad-valorem-tax/ https://www.fleitasarcalaw.com/blog/what-is-a-non-ad-valorem-tax/ Mon, 14 Nov 2022 16:25:05 GMT A non-ad valorem tax is an assessment on your property tax bill for services or infrastructure that affect the property. A common type of non-ad valorem assessment is for a community development district.

]]> A non-ad valorem tax is an assessment on your property tax bill for services or infrastructure that affect the property. A common type of non-ad valorem assessment is for a community development district.

]]> https://www.fleitasarcalaw.com/blog/what-is-an-estoppel-letter/ https://www.fleitasarcalaw.com/blog/what-is-an-estoppel-letter/ Mon, 14 Nov 2022 16:24:08 GMT In the context of homeowners associations and condominium associations, an estoppel letter is a document that provides the buyer with the details of the assessments charged by the association.  It prevents the association from later claiming sums that are not reflected in the estoppel letter.

]]> In the context of homeowners associations and condominium associations, an estoppel letter is a document that provides the buyer with the details of the assessments charged by the association.  It prevents the association from later claiming sums that are not reflected in the estoppel letter.

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