Video Summary

How does right of survivorship work when property is titled in the name of two or more people as joint tenants with right of survivorship, the surviving owners of the property, own the property. By way of example, if the property is taken the name of three people as joint tenants with right of survivorship, and one of them passes away all but needs to be done is to have the death certificate of the decedent recorded in the public records, where the deeds are recorded, showing that he’s deceased. And that will show reflect that the title is now vested and the remaining two persons who own it, if one of them subsequently passes away, or if there’s only two people that own property as joint tenants with right of survivorship and that, and the person passes away and their death certificate to recorded the property, the title to the property vest and the last remaining joint tenant,  who had the right of survivorship and all that needs to be done is to have the death certificates of the joint tenants or owners be recorded in the public record. If you have any questions about this, give me a call at (727) 847-2288.

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How do I contest the property appraiser’s notice of intent to file a lien? This is usually whenever the property appraiser gives you notice that they are excluding your, homestead exemption and they’re filing a lien pursuant to the statute and that they have found where you’re getting benefit from another state. Therefore we’re not entitled to homestead exemption. The penalties and interests that are charged on these homestead liens are very, very high. The only way to contest them is to hire an attorney to go in and argue with the property appraiser or file suit in conjunction. With the matter they are very difficult to contest and to use of the property. Appraisers will not compromise or work with you in any way to reduce the amount of their lien. It’s a difficult situation and trying to find an attorney who will undertake representation would also be very difficult. You’re welcome to give me a call at (727) 847-2288. I can refer you to an attorney who will discuss this with you.

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What is earnest money? That is the amount of the deposit you put down or give to a escrow agent. Whenever you enter into a contract to purchase real property, the deposit is applied against the purchase price. Whenever you close the transaction and pursuant to the terms of whatever the contract provides for your deposit may be refunded to you. If you decide to cancel the transaction during your inspection period, or if the transaction is contingent upon you obtaining a mortgage and you don’t obtain the mortgage, then your deposit can be refunded if you notify the seller a timely, but that’s all controlled by the provisions of the real estate contract. So if you have any questions about that or need someone to review your contract, give me a call at (727) 847-2288.

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How much do I have to pay an agent to help me buy a home? Usually the seller pays the real estate transaction fee or the real estate commission. Whenever properties are listed in multiple listing service and a realtor make some assist you in purchasing the property and you submit your offer and the seller accepts the offer. These are called transactional brokers and they’re there to have a fiduciary responsibility, to both the buyer and the seller. And the seller pays the real estate commission, for both the listing agent and also the selling agent. If you find a house on your own, you do not need a realtor to put together the transaction. You can call an attorney, or you can call me if you’re in my market area, which is in the Pascoe Canelo’s Hernando, Hillsborough area. And we can put together a contract and you don’t have to pay a real estate commission for doing that. If you find a house on your own, that is not listed with a real estate agent, the only costs that you may have with a real estate agent is what they call a transaction fee, which usually is in the neighbor of two or $300, which they, you may be charged as a buyer in a real estate transaction. Give me a call. If you have any questions. My phone number is (727) 847-2288.

Video Summary

What is a stratified market? A stratified market is whenever you have houses that are trading or selling very rapidly in two different price areas. By way of example, you could have a stratified market whenever houses in the range of $150,000 or less are, are selling very rapidly. And the supply is very limited as well as houses that are selling in the 900,000 and up category, which is also selling very rapidly and the inventory is very low. So that is a strategy. And then they’re both these markets are in the same market area. So you have two different price ranges of houses in the same market area that are both selling very rapidly. And so that’s what you have when you have a stratified market, is that you have two different price range of houses that are moving very quickly in the market. Some from the time they’re listed, till the time they’re sold.