A lady bird deed or enhanced life estate deed is a way to transfer ownership of your home or other real estate to your intended beneficiaries without the expense of a trust or probate. During your life, this special type of deed allows you to sell or mortgage your...
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Firm News
Don’t Dive into a Pool Home without Insurance
by Goldman, Monaghan, Thakkar & Bettin, P.A. | Feb 17, 2025 | Firm News
Buying an investment house with a pool is an extra level of risk. If you are the landlord, please make sure your insurance policy specifically covers the risk if someone is hurt using the pool. Yes, you can include language in the lease placing the liability on the...
Closing Statement, End of the Line
by Goldman, Monaghan, Thakkar & Bettin, P.A. | Feb 11, 2025 | Firm News
At closing, each of the seller and buyer/borrower are provided with a closing statement detailing the credits owed or debits due, and of course the net amount due seller or owed by buyer/borrower. This statement can be difficult to follow. It is your money, so don't...
My Kingdom for a Horse (and an RV)
by Goldman, Monaghan, Thakkar & Bettin, P.A. | Feb 11, 2025 | Firm News
In my legal career, I have prepared and reviewed thousands of residential real estate contracts. They follow a typical pattern, appliances and sometimes furniture are included in the sale, the buyer posts a deposit and pays cash or obtains a loan for the difference. ...
Allocations Matter
by Goldman, Monaghan, Thakkar & Bettin, P.A. | Feb 9, 2025 | Firm News
Especially for commercial closings, you should discuss with your tax advisor the best way to allocate the purchase price for income tax purposes. What percentage to allocate to the land, building, goodwill, covenant not to compete, etc. Be aware, it does matter, as...
Foreclosure Sales as Investments?
by Goldman, Monaghan, Thakkar & Bettin, P.A. | Feb 9, 2025 | Firm News
Our firm recently had a client come to us after spending $80,000.00 to buy a home at a foreclosure sale, plus investing another $200,000.00 into the home to fix it up. Unfortunately, the client was being foreclosed by the first mortgage holder and did not understand...
Closing Transparency
by Goldman, Monaghan, Thakkar & Bettin, P.A. | Feb 9, 2025 | Firm News
Closings should be transparent to you, as the buyer or seller. We make sure that you are updated throughout the closing process. Better to give you too much information that to have a "surprise" at the end. Real estate surprises are typically not good. if you have...
Are Condo Good Investments?
by Goldman, Monaghan, Thakkar & Bettin, P.A. | Feb 9, 2025 | Firm News
I recently met with a client interested in purchasing an investment condominium. At a list price of $295,000.00 and rent of $1,900.00 per month, even with twenty percent down, the excepted was a negative $7,000.00 per year. We did not even factor in any money for...
How long does it take to foreclose a mortgage?
by Goldman, Monaghan, Thakkar & Bettin, P.A. | Feb 9, 2025 | Firm News
Our office assists private and institutional lenders foreclose defaulted mortgages. We are often asked how long it will take to complete a foreclosure. A good estimate is six months. There are automatic "holds" placed on progress by the Florida Rules of Civil...
New or Existing Home?
by Goldman, Monaghan, Thakkar & Bettin, P.A. | Feb 9, 2025 | Firm News
Is it better to buy a new home built for you, or an existing house? I have done it both ways, and I found buying an existing house a far better choice for me. You may like reviewing floor plans, wall colors, kitchen handles, and elevations, but this is not my cup of...
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