Buyer FAQ

How would I know how much to offer on a property?
Your Real Estate agent should provide you with a CMA (Comparable market analysis) based on recent closed sales and active listings within the area of the property.

How do I find out what taxes I will be paying on my property?
You can do a property search free of charge at www.miamidade.gov by address of the property to obtain the prices for the taxes. Taxes in Florida are paid on a yearly basis.

How can I calculate my future monthly mortgage payments for a loan?
For your convenience we have created a mortgage calculator to guide you. This link will direct you to it http://www.luxurylivingrealty.com/buy/financial-tools/

What does the status of PENDING mean?
It means that the property is under contract but that the transaction has not closed yet. You may place a back-up offer in the event that the contract falls through.

How do I place an offer on a property that I would like to purchase?
Your Real Estate agent should prepare an offer in writing with all the terms and conditions that you would like your agent to present to the seller or seller’s agent.

Do I need an attorney for a Real Estate transaction if not in Florida?
Yes, you are required to either have a Florida real estate attorney or a title company representing you for the closing transaction.

Who is in charge of paying the real estate brokerage commission on a purchase transaction?
In general the seller is in charge of paying commissions on sales and rentals.

Is it better to buy under a corporation name or an individual?
We highly recommend that you consult with your real estate attorney which option would be best for you.