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Sun Blog: Real Estate Rules & Regulations

Real Estate Rules & Regulations

FHA Requirements for a Seller

While FHA has relaxed some of the repair requirements for FHA loan approval, there are still many that a seller should consider. If a seller is intent on selling a home "as-is", the seller should be aware of the items FHA will enforce. However, if a seller is still amenable to an FHA mortgage, they should be sure to place a specific dollar cap on repairs that the FHA … Keep reading... about FHA Requirements for a Seller

FIRPTA Foreign Investment in Real Property Tax Act

FIRPTA Foreign Investment in Real Property Tax Act The United States Federal Tax Law requires that a foreign citizen who sells real estate owned in this country pay taxes on the profit of such sale. To insure that the tax is paid, 15% of the proceeds at closing are withheld and transferred to the United States Treasury. The 15% withholding is mandatory if the seller is a … Keep reading... about FIRPTA Foreign Investment in Real Property Tax Act

Missed Condo or HOA Payments

Missed condo or HOA payments soon to effect credit score Some property owners have been rather cavalier in submitting their payments to Condominium Associations or Home Owners Associations. If they make the payment a few weeks, months or even years late, there was really nothing to worry about. That is about to change. One major credit reporting agency is planning to … Keep reading... about Missed Condo or HOA Payments

Adverse Possession

A mortgage broker in Ft. Lauderdale is using an old Florida stature from 1869 to save abandoned homes and may face consequences. Using the a statute called adverse possession, common in all 50 states, the broker is finding homes that have been designated by the county as a “public nuisance”. He then cleans up the home, pays the taxes and rents the properties for low cost to … Keep reading... about Adverse Possession

Foreclosures in Port Charlotte, Punta Gorda, North Port, Englewood, Rotonda FL

The newspapers are still filled with articles and editorials about the so called mortgage mess. The federal reserve is looking into banking practices and there is certainly a need for legislation that encourages lenders to modify loans. Many owners would benefit from a simple adjustment in the interest rate the banks charge. With rates at an all time low, owners who are … Keep reading... about Foreclosures in Port Charlotte, Punta Gorda, North Port, Englewood, Rotonda FL

Obama signs Homebuyer tax credit bill extension

President Obama signed an extension of the $8,000 tax credit for first-time buyers. The extension adds money for some move-up buyers. The maximum tax credit remains $8,000. Anyone who has not owned a home within three years is considered a first-time buyer. Your purchase must be under contract by April 30, 2010. Your purchase must close no later than June 30, 2010. After Dec. … Keep reading... about Obama signs Homebuyer tax credit bill extension

Primer on residential wastewater treatment systems

By Bruce Loucks, Charlotte County administrator, Charlotte Sun-Herald Newspaper. Reprinted with permission. Questions frequently arise regarding residential sewer systems. In Charlotte County, there are several different companies which provide for central sewer treatment. Charlotte County government is one of the larger systems in the area, as are the City of Punta Gorda and … Keep reading... about Primer on residential wastewater treatment systems

Scrub jay habitat not easy to find

OUR POSITION: We believe there is some merit to Charlotte County Commissioner Tricia Duffy's idea to couple the acquisition of environmentally sensitive land with mitigation of habitat for scrub jays, gopher tortoises and indigo snakes. Just the mention of scrub jays elicits a sinking feeling for hundreds of land owners in Charlotte County. About 10,000 property owners have … Keep reading... about Scrub jay habitat not easy to find

Real Estate Sales in Charlotte County, FL – Scrub Jay Issue

According to an article in the Sun-Herald newspaper, 3/13/2007, there could soon be changes to the procedure for scrub jay lot building permits. The U. S. Fish & Wildlife Service is considering allowing Charlotte County to release properties that show no scrub jays inhabiting them. If the result of an environmental impact study is negative for these threatened birds, the … Keep reading... about Real Estate Sales in Charlotte County, FL – Scrub Jay Issue

Building lots affected by Scrub Jays in Charlotte and Sarasota Counties, FL

For information on Scrub Jays in Charlotte and Sarasota Counties there is an article on our website. Click the following link to read the article. Scrub Jay lots in these counties require special permitting. This article has links to check if your lot has been affected. It also has links to reports by USFWS and the counties. There is also a list of environmental consultants who … Keep reading... about Building lots affected by Scrub Jays in Charlotte and Sarasota Counties, FL

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