| In preparation for your luxury real estate purchase in Fort Lauderdale Maria Seltzer and Brian Radeer, buyer specialists for Julie Jones, have devised a series of typical questions and answers.
If you have a specific question that is not covered by this outline please contact Maria at 954.328.1076 or via email at maria@premierestateproperties.com, or Brian at 954.649.8100. Brian’s email is brian@premierestateproperties.com.
General Residential Questions:
How is property tax calculated in Broward?
Approximately 2% of your assessed value price and an assessment of local property values of similar residences will set your annual property taxes. If you qualify for the Homestead Exemption, whereby your residence must be your primary residence, you will be required to have a driver license and voters registration card. Visit www.bcpa.net for a home buyer tax estimator.
Tell me about the local school system?
How long does it take from preparing a sales contract to closing on a residence?
Do I need to be present in Fort Lauderdale for the closing? No, Julie or a team member will work diligently with you from contract to closing and attend the closing on your behalf. Documentation can be couriered from the attorney or title company to your address for completion accordingly. In addition, with today’s technology, documents can be sent electronically, as well.
Do I need to hire an attorney to handle my luxury real estate transaction?
When transacting to purchase a property in South Florida you are entering into a legal transaction. It is recommended that you have independent legal representation to review your contract and documentation accordingly. Alternatively, you may be working with a title company that has an attorney on staff.
Should I purchase a condominium or a single family residence?
Boaters often appreciate the convenience of private boat dockage at their residence. If you are looking for minimal maintenance and resort amenities then one of Fort Lauderdale’s condominium communities or a hotel-condominium may be appropriate.
I have a boat – what does my realtor need to know to assist me in finding the perfect waterfront residence?
Be diligent when purchasing a condominium or townhouse with deeded dockage to verify the dock number and any rules/regulations that apply.
When is the main sales season? When can I get the best buy?
With Fort Lauderdale’s diverse real estate market and with guidance from Julie, Maria and Brian, you can be assured to secure a good real estate match in any season.
Security is a priority to me as a buyer, please identify the gated and secured communities in the Fort Lauderdale area?
Condominium communities have varying levels of security subject to the building.
As a Foreign National can I obtain financing in the US?
What do I need to do to prepare for the hurricane season?
Sophisticated weather tracking usually provides a few days notice for storms approaching.
What about insurance, can I obtain insurance for my residence without any problems?
The sales contract has a provision for obtaining appropriate insurance coverage, please review carefully and ask any specific questions.
If you are considering a condominium the community will have a blanket insurance policy which covers the building and exterior. You will be responsible for the interior and personal belongings.
I am very active outdoors, what does Fort Lauderdale have to offer?
Please tell me the main cultural attractions.
I believe that a luxury condominium lifestyle is most appropriate for me,
what do I need to know?
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What are my responsibilities as a condominium owner?
There will be a set of rules and regulations for the condominium community you are considering. These will be given to you at the time of contract for your review within a specified time period. This time period is usually three days for resales and ten for new construction. It is important to please ask any questions OF your realtor and/or the condominium board at this stage. Outside of the rules and regulations you are free to enjoy your condominium which is easy to lock up and leave at any stage.
What about animals, the family pets?
Many of the newer condominiums allow most breed of dogs, there will be a wider choice with smaller dogs. There may be weight and size, possibly even breed, restrictions. Tell us what type of pets you have as you start your search to ensure the widest choice of pet friendly communities.
What does the condo fee include typically?
The maintenance fee is either paid monthly or quarterly. This preset amount will be disclosed to you at contract together with any assessments which are pending at that time. The fee will include the building management insurance, maintenance, pool maintenance, security, valet, exercise rooms and common areas, water, possibly cable. Obtain a list of what is included from Maria.
Can I review the condominium financial records?
Yes, these records will be provided to you at the time of contract and are usually included with your Rules and Regulations package. Please review and ask any questions accordingly within the time period on your contract.
Is there a personal interview process involved?
The condominium approval process varies from community to community. You will be required to fill out an application for a background check into any criminal activity. A credit report may also be requested. After your interview (either in person or by telephone – subject to the community) you should be issued with a letter of approval which should be taken to the closing (and will be required by your mortgage lender).
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Maria Seltzer and Brian Radeer hope that this has been a useful overview for you and answers some of the main question. Maria or Brian will be pleased to answer any other specific questions by telephone or email at your convenience.
Maria can be reached directly at 954.328.1076 or maria@premierestateproperties.com. Brian’s contact information is 954.649.8100 or brian@premierestateproperties.com. |
