Essential information about Florida Real Estate and its terms

• Real Estate Markets are very different and many things are handled differently from one state to another.

• With our network of real estate agents and individual property owners, you can access a large database of property in Florida that are either up for sale or potential buyers that are looking to buy property.

• You can use this site to advantage you if you are both buying and selling property. With our wide coverage we cover all the cities in Florida without exception.

• Various bookers and owners will post in our site information that is useful if you are looking to deal with any field of real estate.

Buying a Property at Florida:• In real estate buying, the buyer is the person or

persons paying money to a seller to purchase a property.

Selling a Property at Florida:

• Real Estate Selling occurs when a property holder dies or moves to an assisted-living facility. Those who take over the home get the proceeds from the sale.

• If the owner dies without naming someone in the will to sell the house, an estate sale is called a probate sale, because a probate court appoints a relative or friend of the deceased to handle the sale.

Broker:

• Broker has several meanings in different situations. Most Realtors are agents who work under a broker.

• Some agents are brokers as well, either working form themselves or under another broker.

• In the mortgage industry, broker generally refers to a company or individual that does not lend the money for the loans themselves, but broker loans to larger lenders or investors.

• As a normal definition, a broker is anyone who acts as an agent, bringing two parties together for any type of transaction and earns a fee for doing so.

Cash-out refinance:

• When a borrower refinances his advance at a higher amount than the current loan balance with the intention of pulling out money for personal use, it is referred to as cash out refinance.

Community property:• In some states, particularly the southwest, property

acquired by a married couple during their marriage is considered to be owned jointly, except under special circumstances.

• This is an outgrowth of the Spanish and Mexican heritage of the area.

Certificate of Eligibility:• A document issued by the Veterans Administration

that certifies a veteran's eligibility for a VA loan.

Appraisal:

• A written justification of the price paid for a property, primarily based on an analysis of comparable sales of similar homes nearby.

Developers - These people prepare raw land for construction which results in new product for the market.

Renovators - These people supply renovate buildings to the market.

• Facilitators - This includes banks, Real Estate Brokers lawyers, and others that make easy the purchase and sale of real estate.

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