Buyers always have a "Must Have" list when searching to buy a condo. Why not, you are about to possibly make the biggest investment of your life, so why shouldn't you be picky...
Depending on the age of the condos you are looking at, you may have to give a little from your list of Must Haves, especially if you are looking for a deal. If you are buying new construction, and money is no object, make a long list of Must Haves, and make sure the Seller sees it early in the process. But if you are searching for a used condo, try not to be narrow minded and you may end up finding a better deal. Some of the features might be a little outdated and even unattractive, but it is the big picture that is more important. The list
"My Realtor told me that I am required to buy title insurance, Is that true, and who has to pay for the Title Insurance Policy?"
This is a very good question, and the answer may surprise you.
In Florida, as a buyer, you are not required to buy an "Owners Title Policy". However, if you are getting a loan, your lender will require that you pay for a Mortgageee Title Policy to protect the Lender, and the cost of purchasing the Owners Title Policy will be greatly decreased, making the decision to purchase a lot easier. As a practical matter, if you are obtaining financing, the cost of obtaining an Owners policy is almost nominal in comparison to your other closing costs.
The preliminary 2018 property values will be posted on our website at www.bcpa.neton June 1. This will be your first opportunity to review your 2018 property value and contact our office if you believe the just value to be inaccurate. This is important because the amount of property taxes that you will be asked to pay is based on the relationship between the tax rates set by your local taxing authorities and the assessed value of your property as determined by our office. Florida law requires our market values be one year in arrears meaning we use the qualified sales of comparable properties from January 1, 2018 back through January 2, 2017
