Blog
3 Tips On How to Write a Great FSBO Property Listing Ad
The key to an effective For Sale By Owner (FSBO) property listing ad is to tell the homebuyers enough to get them interested, but not give them all of the information. The objective is to leave potential buyers intrigued enough to seek out more information about the property or—even better—make them want to see the house. Some of the basic information to get them interested is pretty straightforward: price, location, and details like the number of bedrooms and bathrooms.
1. Price
One mistake some sellers make when writing their ad is that they don’t put the asking price. Instead, they might put “call for price.” That’s a big mistake. When you write your ad, a good rule of thumb is to be straight forward and to the point. Listing the price on the first page of the ad helps draw serious buyers to your advertisement. Also, when people are searching for homes online, they usually search within a specific price range.
2. Location
The location of the home should also be one of the first things mentioned. The first rule in real estate is location, location, location. When homebuyers are searching online, they are not only searching by price, but by location as well. You should include details such as well-known streets or intersections nearby, if it’s in a desirable zip code, if it’s in a historical district, and maybe a neighborhood nickname. The objective here is to get buyers to physically come see the property.
3. Details
In the next section of your advertisement, you want to describe all the details about the house and property. You want to let them know things like the number of bedrooms, bathrooms, and square footage. Then you want to include certain features about the interior of the home that are considered desirable. For example; fireplace, crown molding, renovated kitchen or bathroom, etc. After this you should describe other property features, like whether there’s a garage, a privacy fence, a patio or deck, a grill, landscaping, or anything else that would be beneficial.
The perfect ad should give potential buyers the information they need to decide whether they want to see the property or get more information. The best ads are the ones that are short and to the point and tell the buyer what they want to hear. Remember that many times, prospective buyers will end up purchasing a property that’s quite different from what they had in mind.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: Real Estate Title Insurance: Do I Need It?
Real Estate Title Insurance: Do I Need It?
The short answer? Yes, you absolutely do need real estate title insurance!
There’s a lot of misconception that title insurance just isn’t necessary. Well, that’s not the truth—or even the best decision. When you obtain a loan to purchase a home, your lender will require a title insurance policy on the mortgage that protects them in the event of a title defect. If the lender is willing to protect its interest, isn’t that a pretty good sign that you should protect yours? Title insurance for the lender is called a Lender’s Title Insurance Policy. It ensures that the lender’s interest in the property is protected against any loss due to title defects, liens, or mistakes. But the lender’s title insurance policy protects just the lender. As a buyer you will need your own protection. This is called an owner’s title insurance policy.
Purchasing owner’s title insurance is a matter of being safe rather than sorry. When you buy a house, the title of the property is transferred by a warranty deed. The seller is transferring you free and clear title, saying all is well. And if there is a title defect, you’d think that would be the seller’s responsibility, right?
Nope! If no owner’s title insurance is purchased, the problem becomes yours as a buyer. However, if a title defect pops up and you’ve purchased an owner’s title insurance policy, your policy will defend you.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: What is a Deed In Lieu?
What is a Deed In Lieu?
‘Deed In Lieu’ is a common short-hand term for a particular situation. Namely: when a borrower can’t make loan payments and hands over their deed to the property instead, so that the lender does not have to take the home.
The full phrase is ‘deed in lieu of foreclosure’ — the borrower is surrendering the deed so both parties can avoid the cost and impact of foreclosure. It is faster, generally less expensive for the lender, and generally less damaging to the borrower’s credit. However, the deed in lieu must be voluntary for both parties. The lender must agree that the deed value meets the loan amount owed — otherwise, they might have the right to seek additional payments through a deficiency judgement. Deed in lieu is typically a last resort, and only becomes an option when losing the property has become inevitable.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: Remote Online Notarization: The Future of Signing Documents
Remote Online Notarization: The Future of Signing Documents
If you deal in any sort of business requiring official documentation being signed by one or more parties, you know the importance of having a notary present to witness the signing so it’s official. And with recent advances in technology, you can actually have a document notarized remotely through online audio-visual communication, so the notary doesn’t even have to be physically present to witness the signing. This practice is called remote online notarization.
As a quick refresher, the basic role of a notary is to prevent fraud by ensuring that the person signing the document is who they say they are and that the signer fully understands what they are signing and are doing so willingly.
There are two common notarial certificates that must be signed under the notary’s supervision; an acknowledgment, which is a declaration that the signer is signing the document of their own free will, and a jurat, which requires the signer to affirm or swear to the truthfulness of the contents of the document.
Because of the rise of virtual notarization, the Department of State’s office ruled that new additional certificate wording must now be utilized by Florida notaries, which took effect on January 1st, 2020. According to Florida Statutes Section 117.05, the additional language requires that both the acknowledgment and the jurat specify whether the signer appeared before the notary physically or via online notarization.
Notaries who wish to perform online notarization through audio-visual communication technology must complete a 2-hour education course, pay a fee and register with the Department of State, meet Florida’s technology requirements, post a $25,000 bond, and obtain a $25,000 errors and omissions insurance policy.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: How Do Mortgage Satisfactions Work in Florida?
How Do Mortgage Satisfactions Work in Florida?
So you borrowed money, whether it was from a mortgage bank lender or a private individual, on a property in Cape Coral, Fort Myers, or anywhere in Florida. And now, you’ve finally made the last mortgage payment! That’s awesome! But before you break out the champagne, you need to make sure that a mortgage satisfaction of real property is filed for that loan.
Once a mortgage is paid, the holder of the mortgage is required to satisfy the mortgage of record to show that the mortgage is no longer a lien on the property. The general rule is that the satisfaction must be in proper written format and recorded to provide notice of the satisfaction. If the lender fails to record a satisfaction within set time limits, the lender may be responsible for damages set out by statute for failure to timely cancel the lien.
Florida Law states that the execution of the satisfaction must be signed by the lender. Upon the full payment of the mortgage, the borrower may demand of the lender that satisfaction be recorded. The lender then has 60 days to comply, or face liability. The penalty against the lender for not complying can be a misdemeanor of the second degree in a civil action suit.
In a nutshell, a satisfaction of mortgage is a document signed by your lender stating that you fully paid off your mortgage and that the mortgage is no longer a lien on the property.
To learn more about the Florida Statutes relating to mortgage satisfactions, visit: www.flsenate.gov/Laws/Statutes/2011/Chapter701/All
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: What Are the Rights & Responsibilities of a Landlord?
What Are the Rights & Responsibilities of a Landlord?
A landlord owns property that is rented or leased to someone else – the ‘tenant’ or ‘lessee.’ Both responsibilities and rights for landlords are defined by law – usually state and local codes in the US. Responsibilities for landlords may cover property, contract, and tenant issues.
Rented properties must meet safety requirements and other municipal codes, as well as safe and livable ‘habitability.’ Contract terms including price, late penalties, contract length, and cancellation notice are also frequently defined by law. Likewise, tenant selection, treatment and eviction requirements are often spelled out by applicable regulations.
Landlord responsibilities are different from property ownership. State and local laws define the ‘game rules’ under which landlords and tenants work together. In Florida, residential tenancies are governed by Chapter 83 of the Florida Statutes under what is commonly known as the Florida Residential Landlord and Tenant Act. And, of course, the lease agreement between the landlord and the tenant.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: How Homeowners Should Prepare for an Appraisal
How Homeowners Should Prepare for an Appraisal
It’s not often that you have an appraisal done on your home, especially if you haven’t been in a position to sell houses multiple times. One of the first things you may think is, “What do I need to get ready for this?” Here are some helpful tips you can use to prepare for a visit from an appraiser.
Make Sure the Appraiser Knows Your Neighborhood
While most appraisers are familiar with the area, you’ll occasionally get one who isn’t local. Since there are sometimes some intricacies that need to be pointed out, be sure to bring them to the appraiser’s attention, and ask if there is something specific they should know about the area.
You Don’t Need to Clean the House
Appraisers try to view your home as a potential buyer. While it would be nice if every home was professionally cleaned, that’s not always doable. Appraisers inspect hundreds of homes per year and can look past the “messy teenager room” and the dishes in the sink.
Information on Recent Similar Sales in Your Neighborhood
If you are aware of a home in your neighborhood that is similar to yours and was recently sold as a private sale or FSBO, be sure to let the appraiser know. Also, if you have any information on sales in your neighborhood that are similar to yours but had extenuating circumstances (divorce, estate sale, pipe had burst and the house had major water damage, etc.), bring that to the appraiser’s attention too. Sometimes the information is disclosed on the MLS (multiple listing service), and sometimes it isn’t, so it never hurts to let them know.
List of Updates and Repairs
The appraiser is going to ask you about any recent updates or repairs you have completed in your house. It’s helpful if you think about this ahead of time and make a list of upgrades, estimated costs, and a general time frame of when each item was completed to streamline the appraisal process.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: Beware of Title Agents with a Suspended License
Beware of Title Agents with a Suspended License
In a previous blog post, we discussed an incident where a title agent was operating with an expired license. Which, on a good day, could be chalked up to negligence—not necessarily a quality you’d want in an agent who is handling critical files pertaining to the sale or purchase of one of your largest assets. But an agent who works in the title industry with a suspended license? That veers straight into shady conduct, since you’d better believe the agent is aware that they are operating illegally.
In one particular incident, a title agent had their license temporarily suspended when they were charged by the Florida State Attorney for Uttering a Forgery, which is a first degree felony. Some time later investigators conducted a follow-up investigation and found that the agent was still doing business in violation of the order…by using another title agent’s license to issue title insurance commitments and policies!
The two agents had agreed that the agent with the suspended license would split the commissions they earned with the other agent in exchange for using their valid license. Needless to say, the suspended agent was quickly put out of business, and their accomplice was put on 1-year probation on top of being fined $5000.
Fortunately, you can avoid running into this sort of scandal by using the Florida Department of Financial Services Licensee Search to search the name of the title agents you want to check on. It will give you the details of the status of their licenses along with other information.
At Title Junction, all of our title agents are professionally licensed and in compliance with title regulations at all times. But you don’t have to take our word for it—search the name of any of our title agents at https://licenseesearch.fldfs.com for your own personal peace of mind.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: What Is Litigation?
What Is Litigation?
In US law, one party can bring a lawsuit against another party in court. In civil cases, the party bringing the suit—called the plaintiff—generally claims to have incurred loss through actions of the other party—the defendant. In criminal cases, the state—whose legal representative is called ‘the prosecution’—charges the defendant with breaking the law. The court decides the case; judgement may include remedy of the loss and damages in civil cases, or sentencing in criminal cases, plus injunctions to force action and other legal consequences. The overall conduct of a lawsuit is called ‘litigation.’ The parties on both sides are generically ‘litigants,’ and the attorneys who represent them are ‘litigators.’
In the context of owning a house, a lawsuit could occur if a person or other entity tries to claim ownership of the title from the current owner, such as an unknown heir of the previous owner. If the defendant has title insurance, their title company will defend litigation in which their policyholder’s claim to the title is challenged and cover the attorneys’ fees, court costs and related expenses.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: FSBO Safeguards Provided by Title Companies
FSBO Safeguards Provided by Title Companies
Choosing the right real estate title agency makes all the difference if you’re selling your Fort Myers or Cape Coral property without the help of a real estate agent. An experienced and professional title agency will give you a smooth and hassle-free for sale by owner (FSBO) experience.
Many people wonder why FSBO transactions require the services of a title agency. The fact is, title agencies provide necessary services for all real estate transactions, for sale by owner or not.
Title Services For Your FSBO Transaction
One of the most important things to remember is that the title agency works for you, whether you are the buyer or the seller. As the facilitator of the entire closing process, the title company wants the sale to go through. Title agencies and the agents who work with you are impartial service providers.
A FSBO transaction requires the same basic services from the real estate title company as a realtor-assisted transaction; a title search and title insurance. A full-service title agency will also offer escrow and notary services. All of these things are required in order to complete your FSBO transaction. The benefit of hiring a full-service agency to handle your FSBO transaction is that you get all of these services under one roof, so there is less confusion and room for error.
Safeguarding Your FSBO Purchase
It’s helpful to think of the title company as providing safeguards for the entire FSBO property purchase. The title search itself is an important safeguard since it determines whether the property is legally available for sale. A title agency reviews the public record to determine if any liens or judgments have been placed against the property. Title agencies have this process down pat and are very familiar with the routines, procedures and terminology that is used.
The second safeguard that the title agency provides affects the FSBO property purchaser and the mortgage lender; title insurance. Title insurance protects the buyer and lender from unforeseen claims that may arise against the property in the future, such as unpaid taxes or property liens that were not caught in the title search. Although the title search is supposed to find these liens, it’s always possible for a lien to be missed or a claim to arise against the property from an unknown source, and title insurance safeguards against either of these occurrences.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: Selling Features Agents Forget to Mention