LAKE CECILE HOMES by BREG
US Hwy 192 & Seven Dwarfs Boulevard
… see July 31 posting …
A contract offer where a home’s price has been inflated beyond the asking price is a hint that fraud may be taking place. Often in this type of situation an appraiser, mortgage broker, and sales associate are found to be working together to commit fraud.
Also, anytime funds are going back to a buyer with concessions that do not show up on the settlement statement, then the true picture of the transaction is not be relayed to the lender.
Any element the lender does not know about constitutes fraud.
Thinking of bidding on a foreclosed property? Take care… You may be bidding on tax liens and other debt accrued by the previous home owner.
Before bidding, establish what debt may be part of the package. Order a title search to find out what liens or fees may be involved with the property.
The last thing you would want to find out is that the responsiblity of any senior liens (first mortgages), junior liens (second mortgages or other claims against the property), or tax liens transferred to you in the purchase.
Ernie Caldwell Boulevard - A new four-lane road from U.S. Highway 17-91 to west of U.S. Highway 27. Two of the project’s three sections to cost $57 million and be finished in 2010, with the cost and timing of the third leg to be determined.
County Road 54 – Known as Ronald Reagan Parkway, is being widened from two to four lanes from US 17-92 to U.S. Highway 27. Cost is $81 million. Phase one, currently is under construction and scheduled to be done in 2008, with phases two and three to be done 2010.
Pine Tree Trail – This will run from Ernie Caldwell Boulevard north to County Road 54. Cost to be $10 million with completion in 2010.
North Ridge Trail - A new two-lane road that will parallel U.S. 27, between Deen Still Road and Sand Mine Road. Cost, $35 million, with phase one to be completed in 2011.
Holly Hill Road – A new two-lane road that will parallel U.S. 27 on the east from just south of I-4 to the southern border of Haines City. Cost $60 million, with completion date to be determined.
FDC Grove Road – A new two lane road the will parallel U.S. 27 on the west from just south of I-4 to the southern border of Haines City. Cost $55 million, with completion date to be determined.
County Road 547 – Known as Jackson Highway, widening from two-lanes to four lanes west of U.S. 17-92. Cost to be $35 million, with completion date to be determined.
Prequalification – A mortgage lender will use information provided by the Buyer including credit, income, assets and debts to arrive at an estimate of how much mortgage the buyer qualifies for. A ‘pre-qual’ from a lender is not-binding because the information provided will not have been verified.
Pre-Approval - This takes the prequalification one step further. The lender will verify all of the items above, and sometimes a few more, and issue a letter stating that the buyer is approved for a specific mortgage amount within a fixed period of time.
It is always best to secure a pre-approval before shopping for property as this will be a very attractive incentive to Sellers.
Grande Palisades Boulevard & Avalon Road
… retail & luxury resort condominiums …
2BD’s – 1483 Sq. Ft. to 3BD’s – 1895 Sq. Ft.
$265,000 to $395,000
Lake Tohopekaliga, Kissimmee
… headwater of the Florida Everglades ecosystem…
18,810 Acres & 42 Miles in Perimeter
(Care To Experience It? Ask Me How…)
Downtown Kissimmee
… remember where we were on May 10, 2007…
Luxury Condo’s & Offices
Lenders want to know whether a property being purchased is in a flood-prone area.
The lender will hire a vendor to analyse the property and neighboring sites to determine if it’s in a flood zone; the report is called a flood certificate.
If the answer is yes, then additional flood insurance will be required because most standard homeowner’s insurance policies do not cover damage from rising water.
Tangible personal property taxes refer to taxes due on the value of furniture, fixtures, and equipment located in business and/or rental properties. This tax is billed separately, and should not be confused with real estate property taxes.
Tangible personal property taxes are paid by the owner of the tangible personal property. In a sale, the taxes do not follow the Seller if unpaid at the time. They become the liability of the new owner.
Thus, it is important that these be handled correctly at closing.
* Third party postings are not endorsed by, nor do they reflect the opinions of Florida Ideal Realty.