A: There are many types of waterfront property in Florida, from drifting property with a dock slip to a skyscraper condo on the Gulf of Mexico. Are you aware of the unique requirements of the area and whether or not your boat will fit in your new dock slip? Is there a way to install a boat lift? Do you need a fixed bridge to buy? Should you buy a condo on the Intracoastal or the beach? As a Licensed REALTOR®, Renee has many resources to find the answers to these difficult questions.

A: Termites are in fact in each state, and Florida has its share of termites and other wood-destroying organisms. The majority of properties have, currently, or may have to deal with them at some point. This ought not to be a reason to worry, however, you ought to get a WDO (Wood Destroying Organism) inspection on any property before you buy. The majority of pest control companies provide annual inspections and warranties to homeowners. Most properties that have been well-kept shouldn't have huge issues. However, you should think about moving on to a different property if your inspection reveals significant previous damage or a live termite infestation and the seller won't work with you to fix the problem.

A: I don’t recommend one on every property because getting a “real” mold inspection from a qualified inspector can be quite expensive. Most general home inspectors have an eye for signs of mold and will recommend a mold inspection if they feel it is needed. If there are signs of mold and you want to be sure about the extent of the problem, we always recommend you hire a separate inspector who specializes in mold inspections.

A: Regardless of whether you have kids, a decent school district is significant and can influence the property values of an area. This doesn't matter for some properties, like beachfront condos; however, if you're investing in a neighborhood with more primary residences, you should at least be aware of the school district you are buying into. Consider that the school district’s boundaries can change every year, so don't rely upon the Web or MLS postings for current school data. Work with your REALTOR® to survey the latest boundary maps when deciding your actual school district.

A: The inventory of real estate in Florida is one of the most diverse in the nation. It is not recommended to rely on Computerized Valuation Models like Zillow since they are not always an accurate assessment of value. Working with a REALTOR® like Renee can provide a Comparative Market Analysis. There are many elements to consider like property type, waterfront versus non-waterfront, Gulf access, conveniences, walkability, school locale, property condition, and so forth.

A: FIRPTA stands for Foreign Investment in Real Property Tax Act and because of the popularity of Florida to foreign investors, FIRPTA is something you should discuss with Renee your REALTOR® to make sure you are comfortable with how it may affect your real estate transaction. Even if you are a US citizen FIRPTA can affect you if you are purchasing property from a foreign seller. Most transactions involving a foreign seller require that funds be withheld at closing to cover any tax liabilities. Determining the nationality of the seller early in the transaction and applying for a withholding certificate in advance (if necessary) is always recommended. The bottom line, FIRPTA can be very complicated, involving different exemptions, forms, and disclosures, so please consult with your REALTOR®, closing agent, attorney, and tax adviser. More on FIRPTA withholding from the IRS..

A: Condos are a very popular type of real estate in Florida, so understanding how condo associations work is very important. This is also a very complicated topic and more deserving of its own blog post. However, there are a couple of things that every buyer should know about condos in the state of Florida. First of all, when purchasing a condo you are entitled to receive current copies of the condo declaration, articles of incorporation, bylaws, rules, most recent year-end financials and frequently asked questions for the association. Once you receive these documents you have 3 days to review them and you may cancel your contract for any reason within these 3 days. Furthermore, you should never sign a purchase agreement for a condo unless it includes a condo rider or condo addendum that specifically outlines these rights. Bottom line, when purchasing a condo, you must work with a local REALTOR® who understands the local associations and always takes time to review all the documents, no matter how labor-intensive it may be.

A: The simple answer is no, you do not need an attorney it is not required in the state of Florida. However, in specific circumstances, your REALTOR® may recommend that you have an attorney review specific documents or consult with you on unusual circumstances. In most cases, your transaction will be closed with a Title Closing Agent. Title Closing Agents make most of their money collecting premiums on title insurance policies, so if you are the one paying the premium don’t be afraid to ask their advice at the closing table. If the closing agent is being paid by the buyer then the seller may want to have their attorney prepare and/or review their closing documents. Of course, we always recommend that both buyers and sellers consult with a dedicated real estate attorney throughout the transaction, but it is not always necessary and certainly not required in the state of Florida.