Over the past 20 years, working as a South Florida real estate lawyer, I have seen my share of condominium and homeowner association liens resulting in foreclosures against my clients. Condominium and Homeowner Association liens have the power to attach to your property and cause you to lose your property and should be taken seriously. Even if $100.00 past due. The Condominium can easily foreclose and leave you out on the street.
Luckily, HOA lien law is strict, and Florida Statutes, particularly §718.121 protects property owners.
A quick look at the lien statutes reveals all the required language that must be contained in the lien. The lien must have the association address, not the attorney address filing it. The lien must also have the breakdown of amounts due and be accurate. Florida Statutes §720.3085 also requires that the lien be served upon the homeowner, prior to filing suit. The suit can not be filed until 30 days after it is served.
To win against the HOA lien foreclosures, you have to start by hiring the right attorney.
Often associations make errors in their billing, don’t provide the proper credits, accounting errors are made that shows misapplied funds. And, if the condominium or regulating documents do not permit such charges, the condominium association or homeowner association can not bill the homeowner at all!
At the Law Offices of Jacqueline A. Salcines, PA, we have over 20 years experience assisting homeowners with their HOA liens, and condominium liens. The most important step and first step is to make sure you are represented by an attorney that is familiar with your area.
The Law Offices of Jacqueline Salcines offers cost effective services designed to meet your individual needs and requirements. For strong legal representation, call us at (305) 669-5280 today! Attorney Jacqueline Salcines has been handling all your real estate and business law needs for over 20 years.
Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com
With its single taxation for residents, homestead exemption protection, booming tourism ,and wonderful climate, Florida has long been a desirable state for buyers, sellers and real estate investors.
Florida is also a tax-friendly state for real estate investors, providing one more reason to put your property investment dollars in the Sunshine State. Here’s what you need to know about buying your first home in Florida.
Buying your first home
Today’s millennial face ever-growing and complex challenges on the path to home ownership. Credit checks, student loan debt, lack of credit or bad credit, overpriced homes and not enough funding from lenders.
At the Law Offices of Jacqueline A. Salcines, PA we have been assisting first time home buyers for over 20 years. Starting with finding the right lender or mortgage broker professional to pre-qualify the loan, we work side by side with companies to connect you to the right individual to suit your particular lending needs.
We can assist you with finding the right property and then creating the correct As Is Contract for Residential Sale and Purchase, or perhaps a new development or other type of contract. By holding your hand during the contract preparation and review, you are 100% protected so that nothing can go wrong.
As your real estate lawyer, we are here for you to then request and review inspections and inspection reports, surveys, and other matters that come up during the closing. We also protect your bottom line in making sure you can get any first time home buyer credit, as well as any tax credits available to you. To then finally get you, a first time home buyer, to the closing table and in your dream home.
Buying real estate is exciting but also can be complicated and risky.
Choosing a real estate lawyer and title company that is one and the same, as we are at Jacqueline A. Salcines, PA, you, as first time home buyer, or any buyer in general, are protected and start off on the right foot.
If you are a first time home buyer, interested in real estate investing in Florida, consult with us today to learn how you can take advantage of our 20 plus years of knowledge.
By navigating around the tax laws and benefits of investing in Florida, we are here to help you.
We offer free phone consultations, and a no cost review of your case.
Call us today. 305.669.5280 and see how we can help you.
About the Author:
Jacqueline A. Salcines, Esq is the Owner and Managing Partner of the Law Offices of Jacqueline A. Salcines, P.A. Real Estate and Business Law Group. With over 20 years experience including holding a dual degree in Accounting, her broad knowledge of REAL ESTATE LAW serves to aggressively protect and defend our firm’s clients, foreign investors, real estate buyers and sellers.
Call us today to set up a free consultation to discuss your specific needs. We are here for you!
Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com
https://jaspa1.wpengine.com/wp-content/uploads/2018/07/logo_final_dark1.png00Jacqueline Salcineshttps://jaspa1.wpengine.com/wp-content/uploads/2018/07/logo_final_dark1.pngJacqueline Salcines2019-03-14 12:27:092022-12-20 13:58:58EVERYTHING YOU NEED TO KNOW BEFORE BUYING YOUR FIRST HOME – FIRST TIME HOME BUYER MAP
With its single taxation for residents, homestead exemption protection, booming tourism ,and wonderful climate, Florida has long been a desirable state for real estate investors.
Florida is also a tax-friendly state for real estate investors, providing one more reason to put your property investment dollars in the Sunshine State. Here’s what you need to know about Florida’s tax laws as a real estate investor, as well as an overview of how Florida’s tax system works for real estate investing.
Florida Income Tax on Real Estate Investing
Alongside Nevada, South Dakota, Washington, Wyoming, Alaska, and Texas, Florida does not collect personal income tax. That doesn’t mean you won’t pay income tax to the IRS for federal taxes, but it does mean you will pay less overall income tax in Florida. Even if you don’t live in Florida, you can benefit from the state’s lack of income tax as a foreign investor in real estate. Here’s how:
When conducting real estate transactions, collecting rent, or earning commercial property dividends from a Florida real estate investment, you will be taxed at the state’s franchise rate if you operate as a “C” type corporation. You can get around this by filing as an “S” corporation, but there are still easier ways to escape business taxes in Florida.
#1 Sole Proprietorships and Partnerships
Sole proprietorships are defined as businesses owned by a single individual, and in Florida there is no distinct business or corporate tax on sole proprietors. And since there is no income tax leveraged on individuals in Florida, you can invest in real estate as a sole proprietor without paying state income tax.
The same goes for partnerships; Florida does not leverage a state-specific tax on partnerships. And while most states tax the revenue generated from partnerships, Florida does not. This means you can invest in Florida real estate as either a sole proprietor or partnership without paying state income tax.
#2 LLC
Though perhaps a little more confusing, operating as an LLC in Florida can still afford real estate investors the benefit from Florida’s lack of an individual income tax. But, the LLC has to be setup properly to enjoy this tax benefit.
To form an LLC in Florida while living in another state, you’ll need an agent living in Florida to serve as a “resident agent”. If your LLC is composed of multiple members, it will usually be treated as a partnership for tax purposes, meaning you will not pay state income tax. Furthermore, if you are the only owner in your LLC, it will be treated as a “disregarded entity”, and you won’t pay state income tax.
Be aware, though, that it’s possible to setup an LLC so that it’s treated as a corporation under Florida’s tax code, which would result in paying Florida taxes. So, use a professional to setup your LLC to avoid paying Florida income tax.
Watch Out for These Complications
Florida’s lack of a personal income tax makes it a great place for real estate investors to conduct business. However, there are a few ways this picture can be complicated by external factors.
First off, depending on what state you live in, your state may leverage an income tax on income generated out of state, even if that income comes from a non-taxable legal entity in Florida.
Similarly, if the legal entity that you’ve formed to operate in Florida conducts business in other states, you may fall victim to “nexus” based taxes. “Nexus” exists when a business operates in more than one state, and the rules and regulations for businesses that fall into this category are extremely complicated. Again, consult tax and legal professionals before doing anything relating to taxes and real estate investing.
Things To Consider Regarding Out-of-State Real Estate Investing
From a tax perspective, there are numerous benefits for real estate investors in Florida. But if you live outside of Florida, there are logistic concerns to keep in mind.
Anytime you invest in real estate outside your home area, you need to do a great deal of out-of-town research to learn where to purchase investment properties. Plus, from a financial perspective, managing properties and tenants from long distance can be impractical, besides dramatically cut into your profits.
The solution, then, is to use a real estate attorney and local realtor.
There are major tax benefits for real estate investors in Florida, compared to most every other state.
If you are interested in real estate investing in Florida, consult with us today to learn how you can take advantage of Florida’s tax laws. Hopefully, you can significantly increase your profits by avoiding state income tax in Florida.
By navigating around the tax laws and benefits of investing in Florida, we are here to help you.
We offer free phone consultations, and a no cost review of your case.
Call us today. 305.669.5280 and see how we can help you.
About the Author:
Jacqueline A. Salcines, Esq is the Owner and Managing Partner of the Law Offices of Jacqueline A. Salcines, P.A. Real Estate and Business Law Group. With over 20 years experience including holding a dual degree in Accounting, her broad knowledge of REAL ESTATE LAW serves to aggressively protect and defend our firm’s clients, foreign investors, real estate buyers and sellers.
Call us today to set up a free consultation to discuss your specific needs. We are here for you!
Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com
A TEAM OF EXPERIENCED ATTORNEYS SERVING THE MIAMI AND SOUTH FLORIDA AREAS
At the Law Offices of Jacqueline A. Salcines, PA, we believe in providing excellent legal service for individuals and businesses here in the Miami and Ft. Lauderdale and South Florida area. In South Florida, we are the international gateway to many countries, including China, Venezuela, Brazil, as well as Latin America, looking to invest in our booming real estate market. We provide legal representation for buyers and entities who seek help with real estate law and business law.
At Jacqueline A. Salcines, PA, we pride ourselves with providing top tier quality customer service.
We offer a full array of real estate, title, closing and escrow services for the international investor.
Whether the investor is looking to create an LLC, or other entity to purchase property, as an Accountant, Business law and real estate lawyer, as well as a licensed realtor, attorney Jacqueline A. Salcines has the skills to identify the best entity to serve the client’s needs (either LLC, SCorp, C Corp, etc) and then we can create the entity and register with the State.
We also provide a full array of closing services, including title search and examination, escrow services, contract preparation and review, and all the real estate services required to get you from contract to closing.
We are also well versed in assisting investors with the Tax, ITIN, FIRPTA and other reporting and tax requirements.
We take the time to listen to out clients so we can offer the most effective solution. We know that every legal situation is different. We want to know what brought you to us and how we can help.
“The Law Offices of Jacqueline Salcines offers cost effective services designed to meet your individual needs and requirements”. For strong legal representation, call us at (305) 669-5280 today! Attorney Jacqueline Salcines has been handling all your real estate law needs for over 20 years.
Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com
https://jaspa1.wpengine.com/wp-content/uploads/2018/07/logo_final_dark1.png00Jacqueline Salcineshttps://jaspa1.wpengine.com/wp-content/uploads/2018/07/logo_final_dark1.pngJacqueline Salcines2019-03-13 17:19:542022-12-20 13:58:58How does a Miami Real Estate lawyer assist Vietnam and other China and foreign investors
SOUTH FLORIDA REAL ESTATE AND MORTGAGE CLOSING LAWYER
While we are not in yet another mortgage and real estate bubble, the recent hurricanes and loan and mortgage forbearances caused many homeowners to become late on their mortgage payments. Additionally, many Making Home Affordable and MHA loan modifications that were completed years before, have escalating mortgage interest rates which cause mortgage payments to increase.
If you are falling behind on your mortgage, don’t lose hope. Mr. Cooper, formerly Nationstar, and countless other lenders still offer loan modifications to help. There are many assistance options that have helped homeowners get back on track.
At Jacqueline A. Salcines, PA, we’ll do everything we can to determine your eligibility and match you with the help you need.
REFINANCING
If it’s getting harder to make your payments but you haven’t fallen behind yet, you may have a simple, effective option: Refinancing your mortgage to one with a lower monthly payment. To refinance as part of a mortgage assistance plan, your account needs to be current and you must also have equity in your home. Most refinances are for 80 percent of the property value. It helps to have an attorney on your side, working with your numbers and making sure you qualify.
There are a few other eligibility requirements we’ll be glad to go over with you to see if you qualify.
If you qualify, refinancing can be one of the easiest ways to get back on track without big impacts to your credit score or living situation.
REPAYMENT
If you fell behind on your payments due to a temporary hardship—such as a hurricane, loss of income, medical bills or something else, but you have returned to a point where you can pay your amount due each month, you may be a candidate for a repayment plan.
If you qualify, lenders can spread the past due amounts over a manageable timeframe. Instead of owing it all at once and potentially incurring late fees, you’ll just have a relatively small increase to your future monthly payments until you’re all caught up.
Like all mortgage assistance options, the sooner you reach out to an attorney to assess the problems and discuss a solution to your mortgage needs, the more likely a plan will be available to you.
LOAN MODIFICATION
If you’re facing long-term hardship, we can see about modifying your loan so it has more manageable terms.
While refinancing means replacing your existing loan with a new one, loan modification keeps your existing loan and changes its terms.
If you qualify for loan modification, we will work closely to qualify you, see if you can obtain principal forgiveness and lower your monthly payment.
Lenders may also be agreeable to a lower interest rate or extending the loan’s timeframe to lower each month’s payment.
“The Law Offices of Jacqueline Salcines offers cost effective services designed to meet your individual needs and requirements”. For strong legal representation, call us at (305) 669-5280 today! Attorney Jacqueline Salcines has been handling all your mortgage and real estate law needs for over 20 years.
Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com
https://jaspa1.wpengine.com/wp-content/uploads/2018/07/logo_final_dark1.png00Jacqueline Salcineshttps://jaspa1.wpengine.com/wp-content/uploads/2018/07/logo_final_dark1.pngJacqueline Salcines2019-03-13 16:44:122022-12-20 13:58:58Loan Modification with Mr. Cooper ?
