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
House and Home
Get a CLUE Insurance Report
Obtain an Insurance CLUE Report Have you heard the term, Get a Clue? If you are in the market for a home, it is a good idea. In this case a CLUE is an acronym for Comprehensive Loss Underwriting Exchange. Insurers use a CLUE report as one piece to evaluate the risk of a property. As a prospective buyer of a home, you can request that the seller provide this report as part … Keep reading... about Get a CLUE Insurance Report
National Flood Insurance Program NFIP
National Flood Insurance Program (NFIP) US Senators from New Jersey, Cory Booker and Bob Menendez have written a letter to Federal Emergency Management Agency (FEMA) calling for changes to the National Flood Insurance Program (NFIP). The letter states that the agency that oversees flood insurance for millions of homes in vulnerable areas has done too little to mitigate the … Keep reading... about National Flood Insurance Program NFIP
HURRICANE SEASON IS HERE – BE PREPARED!
By Debra Mann, REALTOR, Suncoasteam Realty Contact Debra: 941-626-0744, debra@suncoasteam.com Hurricane season is here again (the season runs from June 1- November 30). With the peak of the season being mid August to late October, it is a good idea to think about getting prepared early, even though our seasons have been relatively quiet in Florida since 2004 & 2005 (and … Keep reading... about HURRICANE SEASON IS HERE – BE PREPARED!
HURRICANE SEASON IS HERE – BE PREPARED!
By Debra Mann, REALTOR, Suncoasteam Realty Contact Debra: 941-626-0744, debra@suncoasteam.com Hurricane season is here again (the season runs from June 1- November 30). With the peak of the season being mid August to late October, it is a good idea to think about getting prepared early, even though our seasons have been relatively quiet in Florida since 2004 & 2005 (and … Keep reading... about HURRICANE SEASON IS HERE – BE PREPARED!
SW Florida Insurance
Anyone who watched the news in the last week has seen the devastating floods in South Carolina. The governor said on the news that this was a once in 1,000 year flood. Let that be a lesson to all of us in Florida. Flood insurance is a must. Many people who we help purchase a home in the area do not understand SW Florida insurance needs, especially flood insurance. They … Keep reading... about SW Florida Insurance
Flood Zone Changes
FEMA is in the process of producing new Flood Zone Maps. Homes that were once out of a risk area can now be included. However, according to the Sarasota County website, (scgov.net https://www.scgov.net/, 20-25 percent of all flood insurance claims come from low to moderate risk areas. It is highly recommended that no matter where you own a home in Florida, you purchase flood … Keep reading... about Flood Zone Changes
Flood Hazard Zones
Many people misunderstand the coverage they have with their standard homeowner insurance policy and the need for additional flood insurance underwritten by the US government. FEMA was created by the Flood Protection Disaster Act of 1968 to regulate construction in coastal areas and flood plains. FEMA analyzed the flood prone areas of the nation and in 1970’s issued maps that … Keep reading... about Flood Hazard Zones
FEMA Flood Insurance Changes
Flood insurance rules changes for lenders (From an article in Florida Realtors online newsletter) WASHINGTON – Oct. 23, 2013 – A group of federal agencies joined together to create flood insurance policy rules. A rule proposed yesterday would implement some provisions of the Biggert-Waters Flood Insurance Reform Act of 2012. If it becomes official after a comment period … Keep reading... about FEMA Flood Insurance Changes
Water and sewer in Port Charlotte
Click to read: Discussion of water and sewer utilities in Port Charlotte, FL … Keep reading... about Water and sewer in Port Charlotte