Category: Florida
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End Deed Fraud! Florida Tests ID Rule, California Requires Alerts
Real estate prices keep rising. A home title is increasingly valuable. For people who specialize in deed fraud, deed records might as well be pots of gold. These smooth operators are on the lookout for properties they can control, sell, or use to obtain loan or rent money. What happened to the days when a…
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Risky Business: “Subject to Mortgage” Sales Leave Floridians With Debt and No Deed
In Jacksonville, News 4 just ran an I-Team investigation on homes being sold subject-to a mortgage. These so-called sub-to deals are gambles, said the reporter. A sub-to real estate deal could be a valid method of selling your home in some situations. But this approach carries serious financial risks. Here, we look at how that…
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Shakedown in Miami: City Presses Deed Holder to Give Up Front Yard Space for Potential Street Expansion
Chad is a deed holder in Miami. He says the city is trying to take front yard space away from him. He only wanted to create a backyard dwelling unit. When he requested permission, Miami insisted that Chad must transfer a part of his front yard to the city. What’s more, the strange process Miami…
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Turning a Hotel Into Homes for Seniors, Vets in Palm Beach County
Palm Beach County, Florida is about to lose 1,000 affordable units over the coming five years. Why? Agreements with developers established restrictions that reserved affordable units for 15 to 30 years. Those restrictions are about to expire. This comes at a time when Palm Beach County will need nearly 81,000 new affordable housing units to…
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Deed Holders Versus Squatters: Does Florida’s New Anti-Trespassing Law Signal a Trend?
This year, Florida criminalized squatting. Florida homes may be left temporarily empty for various reasons. Some are vacation homes. Some are owned by seniors who need to be absent for healthcare reasons. Some homes wait empty for insurers to authorize storm cleanups. Sometimes, a home stands empty simply because buyers have yet to move…
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Florida Hurricanes Raise a Question: Can We Guard Our Deeds From Climate Losses?
October saw a string of dangerous and deadly storms in Florida. Those who made it through the storms are now cleaning up, in the midst of severe property damage along the Gulf Coast. With Hurricane Milton quickly following Hurricane Helene, Florida homeowners’ insurance adjusters had their hands full. No wonder insurance payouts to Floridians in…
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Recent Changes in Florida Reverse Mortgage Taxation: What You Need to Know
Recent changes in Florida’s tax laws have impacted the way Reverse Mortgages, also known as Home Equity Conversion Mortgages (HECMs), are taxed. These changes are based on Florida Statute 199, FDOR Tax Information Publication (TIP) No. 24B04-02, and Section 18, Chapter 2024-158, Laws of Florida. For those who are involved in real estate transactions, understanding…
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Starting Oct. 1st, Florida Sellers Must Disclose Past Flood Insurance Claims
Home sellers in Florida: Look out for a new flood insurance disclosure rule. Effective October 1, 2024, you must tell prospective buyers if your home has ever had documented flood damage. Ask your Florida seller’s agent about the required flood disclosure — which the buyer must receive before signing the sales contract. Specifically, the declaration…
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Condo Bubble? What’s Going On in Florida Now?
Florida is a snowbird’s paradise. It’s no surprise that condos make up a major portion of the market. Recently, though, Florida condos are presenting specific challenges. They’re getting hard to finance. Home buyers in Florida can expect to put at least 25% down. For coastal homes, which lenders consider risky, the expected down payment can…
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Now They’re Holding Titles for Ransom? Here’s How Real Estate Scammers Target Floridians (and the Rest of Us)
St. Johns County, which includes St. Augustine Beach, has plenty of attractive real estate. Just beware the trickster who holds a deed for ransom. One of the seniors who lives in St. Johns sounded the alarm. Some shady firm told her to pay $20K to get her title back. It’s a trend in which local…
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Florida’s Highlands County Introduces New Ordinance for Real Estate Transactions with Roadway Verification Requirement
In a recent update from the Highlands County Board of County Commissioners, a new ordinance (No. 22-23-23) has been established that directly impacts real estate transactions within Highlands County, Florida. This article aims to provide an informative overview of this ordinance, its requirements, and its implications for property transfers in the area.
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Deed-Stealing Florida Broker Pleads GUILTY
Michael B., a real estate broker, has changed his mind. He’s now pleading guilty in a felony fraud case involving deed theft. In Florida, fraudulent real estate schemes are not unusual. But when a real estate broker in active status is pursued for deed fraud, that’s the kind of case that stands out. Yes, you read…
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Florida: The Newest Boomtown State
Of all states, California has the biggest housing market. But population growth is shifting. Since the pandemic began, it’s Florida, of all the states, that got the fastest population increase. More than a thousand people relocate to Florida daily. Florida’s now in second place for total home property value — surging ahead of New York…
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Lee County, Florida Buyers and Sellers: New ID Rule for Deed Filing as of August 2023
After Florida passed HB 1419 to deal with deed fraud in the state, Lee County Clerk Kevin Karnes announced a new requirement for filing a property deed. As of August 2023 and onward, you’ll need a government-produced photo ID if you expect to file a deed in Lee County. Why specifically there? Because Lee County,…
