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How to Prepare for Closing Day

Mature couple collecting keys to a new home from a realtor

You have finally done it. You found the house that excited you the most, your offer has been accepted, all of the inspections are over, and you are now at the finish line–the closing. Buying a home is very exciting, but also incredibly stressful, and you want to make sure that everything is wrapped up without a hitch. That is why it is essential for you to prepare yourself for closing day, including getting a better understanding of all the related home closing costs in Ponte Vedra.

As you prepare to finally own your new home, you are going to want to make sure you have your team together, including your real estate agent, mortgage broker, and attorney. They are all there to help you avoid any potential mistakes that could cause a snag during the closing proceedings.

Next, you are going to want to create and complete your closing checklist. This checklist should include all of the closing contingencies you might have needed, including a home inspection, appraisal, loan documents, homeowners insurance, and your final walkthrough inspection.

Finally, you should be aware of any home closing costs that you might be liable for at the time of closing. These costs are typically figured out during the negotiation stage. You must make sure that any money you have agreed to pay is presented at the time of closing.

Keep these steps in mind, and you will find yourself walking away with the keys to your new home in no time. Good luck, and enjoy your new home! Our team at Baron Bartlett, P.A. will help you throughout the home closing process.

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Understanding Commercial Real Estate Leasing

Main Street square of a small town with businesses and storefronts

One of the most complex aspects of trying to keep your business operating without interruption is dealing with leasing your commercial real estate in Ponte Vedra. As a business owner, you want to find a location that brings in the clientele you are looking for while also ensuring you are not overspending on your rent. This juggling act can feel like a challenge, especially when you consider how much space you need now and in the future. It is not, however, impossible to walk away with that perfect lease situation, as long as you correctly understand the paperwork you are signing.

When it comes to your commercial lease, you need to properly understand all of the tiny details included in your paperwork, including what expenses you are liable for, parking space, and zoning. While the tricky terminology included in a lease might leave you scratching your head, if you have a skilled real estate attorney working with you, you will find the entire transaction much less stressful.

What to Look for When Signing a Commercial Lease

When you are looking to sign a lease, you need to make sure that there are not any surprises coming your way. Working with your real estate attorney, do your due diligence to research the following:

  • What Expenses Will You Be Liable For?
  • Thoroughly Inspect the Background of Your Landlord or Property Management Company
  • Talk to Other Tenants About the Quality of Service They’ve Received
  • Ascertain Whether or Not Your Building Is Up to Safety Code
  • Make Sure Your Unit Is Properly Zoned for Your Type of Business
  • Know All of Your Rights as a Tenant

Please work with us when you need commercial real estate in Ponte Vedra, FL. We make it easier for you to understand commercial real estate leasing.

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Can You Build on a Property Easement?

Diagonal split screen of drawing and photo of a busy house painter painting a home

Most people with easements on their property may not even realize they are there until they go to make updates. There is just something disheartening about finally getting ready to add that beautiful new pool or fence to your home only to find out there is a legal easement. This can stop you in its tracks, which is why it is essential for you to reach out to a real estate attorney to discuss your options.

There are many different types of easements, but only certain types may affect your ability to upgrade or remodel your home. With the help of a real estate attorney in Nocatee, FL, you can better understand what types, if any, easements you might have and what types of projects you are capable of actually being able to build.

Staying off an easement is typically the best way to go, but there is some flexibility when it comes to the rules. Some of the different types of projects you may be able to proceed with include:

Fences – It is not uncommon for fences to be built along or across easements. It is crucial for a homeowner to understand, however, that these fences can potentially be pulled down by the dominant estate at any point. Some utility companies will do their best to reconstruct the fence when their work is finished, but this should not be expected.

Hot Tubs & Pools – If you are looking to add an aboveground hot tub or pool on an easement, then you should be prepared to have to remove them if required by the dominant estate. In-ground pools are much more problematic and should be avoided if you have a property easement.

Shrubs & Grass – Sprucing up your landscape with new bushes, lawn, and other shallow-rooted shrubbery is typically acceptable on an easement. Trees and other significant vegetation, however, should be avoided. Remember, anything that is blocking access for the dominant estate can and will be removed at their discretion.

Work with our trusted title company in Ponte Vedra Beach, FL. We will help you better understand property easement.

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What is a Bridge Loan?

Businesspeople discussing a loanA bridge loan is often used as a short-term financing solution to get the borrower from point A to B. In the market of commercial real estate in Ponte Vedra; a bridge loan can help finance the purchase or renovation of a property until permanent financing is arranged.

These loans are different from traditional loans due to their short-term contract and their higher cost. This means they should only be used where sales proceeds or permanent financing are guaranteed in the future. Some examples of when a bridge loan could be applicable include:

  • Residential real estate sales
  • Commercial real estate sales
  • Larger business orders

The Pros and Cons of a Bridge Loan

Bridge loans allow a buyer access to a deal they may not have been financially able to support at that time. It also allows the buyer to close the sale much quicker than usual. There is also no pre-payment penalty, so if they can be paid off early, there will be no consequence and doing so is often viewed as a positive act.

These loans are incredibly expensive and are a great risk for buyers with no clear plan on permanent payment. If you need assistance determining if a bridge loan is right for your needs, contact our real estate attorneys at Baron Bartlett, P.A. today.

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Three Questions Every Homebuyer Should Ask About Title Insurance

People reviewing a title documentTitle insurance in Ponte Vedra is what protects property buyers and mortgage lenders against problems with a title during a transfer of ownership. If a dispute arises in the middle of a sale, the insurance company may be responsible for paying the legal damages. Homebuyers generally need two title insurance policies, an owner’s policy, and a lender’s policy. Below are three questions every homebuyer should ask about this type of insurance.

  1. Are Prices Regulated?

Title insurance prices are regulated in many states, so there will not be a difference among most companies. However, you want to ensure you are looking at both the quality of the insurance policy and the title search.

  1. How Much Coverage is Needed?

An owner’s policy will cover fraud, forgery, undisclosed heirs, spousal claims, and other contingencies. You can also purchase additional coverage if what you need is not covered in the standard policy.

  1. Does the Seller Select the Title Company?

If you are purchasing the insurance, you have the right to select the company. If a seller is trying to push a particular company, that may indicate a red flag. Working with a real estate lawyer will help ensure you do not encounter any unwanted surprises during the process.