4 Pointers for Buying a Home During a Pandemic!

2020 was an extremely challenging year for everyone, with many feeling as though their lives were on hold. Continue reading “4 Pointers for Buying a Home During a Pandemic!”

7 Myths About Down Payments for Real Estate Purchases

There is a lot of misinformation out there regarding the process for real estate purchases, and this makes matters even more confusing for those that are new to buying a home. Continue reading “7 Myths About Down Payments for Real Estate Purchases”

The Right to Inspect and Cancel 

So, you finally found a property that makes your heart skip a beat and you are already imagining family dinners and movie nights by the fireplace. Congratulations! However, do not move Continue reading “The Right to Inspect and Cancel ”

6 Commercial Investments That Tend to Get Overlooked

What crosses your mind when you hear the term “Commercial Real Estate”? Oftentimes we think of a high-rise office building, shopping mall, or even an old grocery store building. While these Continue reading “6 Commercial Investments That Tend to Get Overlooked”

Study: Retailers, Commercial Real Estate Companies Optimistic About Strong Recovery in 2021

Close to 88% of shopping centers are being used to fulfill online orders, and 99% of retail respondents reported their stores fulfilled online orders to some degree.

Nearly 60% of commercial real estate Continue reading “Study: Retailers, Commercial Real Estate Companies Optimistic About Strong Recovery in 2021”

Seven Ways 1031 Exchanges Can Help Strengthen Businesses

1031 Exchange transactions can help business owners leverage valuable cash to finance critical growth strategies.

At least once a week I get asked:   What are the benefits of doing a Section 1031 Exchange?  I normally give the usual answer:  Deferral of Taxes resulting in more funds to spend on possible Continue reading “Seven Ways 1031 Exchanges Can Help Strengthen Businesses”

Florida Hotel Sales are Down, is a Spike in the Horizon?

Florida hotels are changing hands much less frequently lately, thanks to COVID-19’s negative impact on the local economy. Orlando’s 500+ lodging properties are dealing with severely reduced revenue due to sparse tourism, and this is only contributing to the ongoing mass layoffs within the hospitality industry. Continue reading “Florida Hotel Sales are Down, is a Spike in the Horizon?”

2021 Mortgage Rates Leading Many Homeowner’s Towards Refinancing

Mortgage rates were on a steady path of decline in 2020, allowing many people the opportunity to become Homeowners or adjust their current property loan values. These historically record low rates are being projected to stay low for at least the first few months of the New Year but are expected to slowly rise again towards the end of 2021.

What does this mean for current property owners? The ability to take advantage of record-low rates on their mortgages and to save funds that can be put towards other investments.

So, when does it make sense to go through with a refinance?

  • When it lowers your monthly interest rate and/or payment
  • If you can reduce loan term/remaining payments with minimal increase in monthly payment
  • If you can use debt consolidation from the refinance to lower overall monthly obligations
  • Using a cash-out refinance for home improvements or some other major purchase.

The most important thing to note is that a refinance may sometimes have costs associated with them. Homeowners should calculate their break-even point to see how long it would take to recoup the costs. The decision to start this process is solely in the hands of the property owner, and if the savings outweigh the initial costs then it may be a smart financial move.

Take advantage of great rates & have Premier Florida Title help with your title needs. As a property owner, you are allowed to select your own title company for the title work. Call us today so we can help guide you through this process!

Uniform Commercial Real Estate Receivership Act Is NOW THE LAW IN FLORIDA

The Uniform Commercial Real Estate Receivership Act (hereinafter “UCRERA”) became law July 1, 2020, marking a new era for Florida courts.

“Of course, this couldn’t have been anticipated, but with the economic fallout from COVID, and all the closures, the first thing that will be effected when people stop paying their rent is commercial real estate.”

Florida is one of only nine states that have adopted UCRERA since 2017.

UCRERA creates a process for state courts to appoint a receiver in disputes that arise over commercial real estate, typically a default. Once appointed by the court, a neutral receiver can manage an asset and prevent it from falling into disrepair.

Florida judges have the power to appoint receivers, but before UCRERA, there was no statute that addresses the process for commercial real estate disputes.

HB 783 and a companion, SB 660 by Sen. Lori Berman, D-Boynton Beach, passed both chambers unanimously.

For more questions regarding your Commercial Real Estate investment, call Gulati Law today!

Source: Florida Bar Article

The Biggest Estate Planning Mistake

The most common mistake that can be made when estate planning is the failure to keep your forms and documents up to date.  As simple as it sounds, there are countless instances where people who did not have updated beneficiary forms inevitably ran into complications later in the process.

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Without proper documentation, the money and property you saved for your loved ones may fall into the hands of ex-spouses, irresponsible or untrustworthy family members, or other unintended heirs.  Besides having control over who gets your money and how much, designating a beneficiary also avoids probate in some circumstances.  Updating your estate plan regularly, you can be certain your wishes will be carried out in your absence the way you want them to.

Here are some of the forms that you should update regularly: bank accounts beneficiary lists, retirement accounts, life insurance benefits, and so on.  If a divorce, death, or any other life or relationship change occurs that will affect how you plan your estate, it is imperative you make those document changes immediately.  Contact us today to speak with a Florida Estate Planning Attorney and ensure you are protected in all aspects of your estate planning.

Source: Estate Planning Digest 

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