IN MIAMI, THE REAL ESTATE ATTORNEYS AT THE PERAZZO LAW FIRM SHARE VITAL INFORMATION FOR HOMEOWNERS REGARDING RISING INSURANCE RATES, AND WHAT TO DO AFTER YOUR FLORIDA HOME SUFFERS DAMAGES THAT RESULT IN FINANCIAL LOSSES.
FORT LAUDERDALE – Homeowner insurance is higher in Florida than in any other state in the country, and despite insurance providers’ efforts to curb the cost of property insurance, the expected surge in rates has Miami homeowners on tenterhooks. Meanwhile, Florida insurance carriers are busy looking for ways to reduce litigation, limit claims, and cut down on fraud. Sadly, Florida homeowners that have had the same insurance premiums for close to a decade, have been unable to get their insurance provider to renew their policies at equal rates, with many homeowners now paying twice as much for the same coverage. It’s a sad fact that many Florida homeowners are hurting because they cannot afford to pay the premiums insurance providers are requesting. The average homeowner insurance policy estimated at $1,173 per year in every US state but Florida, where the yearly average is $1,993, a fact that makes Florida the most expensive state for property owners looking to protect their homes against damages and losses. Some of the major homeowner insurance providers in Florida include:
- Erie Insurance
- State Farm
- Liberty Mutual
- The Hartford
- Chubb Insurance
According to surveys and research carried out by the Perazzo Law Firm’s Real Estate lawyers in Miami, these are the top ten insurance providers for homeowners looking to purchase insurance for their property, with Security First (not mentioned above) offering the most inexpensive coverage to homeowners in Florida with premiums estimated at $520 per year.
Tips for saving money on homeowners insurance
In Miami, the Perazzo Law Firm’s staff of Real Estate Attorneys in Miami understand how difficult it is to find the right coverage for the right price. Thus, there are some general guidelines for choosing the best insurance provider and saving money. Firstly, homeowners looking to insure their property should shop around, looking for the insurance policy that fits their budget. Though it make take some time to find the right insurance provider that offers a premium you can afford, it will pay off in the end, especially if your property stays clear of damages. However, it is important to check the financial stability of the insurance provider chosen. You will want to make sure the insurance provider has a solid reputation and will be able to back your losses. Secondly, raising your deductible according to that area in which your property is located. Thirdly, if you own a car, using the same insurance provider for your home will save you some money, approximately 5% – 15% on your premium. Fourthly, fitting your house with safety measures such as smoke detectors, burglar alarms, surveillance cameras, storm resistant windows, and any other measures to lower damages from natural disasters are a good way save money on homeowners insurance premiums and prevent hassles with your insurance provider and their adjusters. Finally, keeping a good credit score helps to save money on homeowners insurance because insurance providers are relying more and more on credit scores when pricing homeowners insurance policies. To keep a good record score it’s important to check it regularly and promptly correct any errors that appear. Because if you can see it, so can insurance providers.
There are laws that regulate how individuals, business operators, or companies buy and sell land and what purpose this land will serve. Real Estate transactions will include issues matters such as: the deed, title, mortgages, taxes, agent fees, and more. Thus, unless you are familiar with Real Estate Law, it may be difficult to achieve a smooth transaction, especially with third parties such as: banks, lenders, agents, and others involved.
Our professional staff of attorneys represent our Real Estate clients by providing full-service legal representation that focuses on their best interests when having to deal with the complexities of carrying-out a real estate transaction in Miami or any of the Cities We Serve. Selling our buying an apartment, house, plot of land, business, or any property, will involve legal matters that must be addressed by a professional Real Estate attorney. Perazzo Law has vast experience handling all aspects of real estate law and strives so that our clients experience a smooth and fair real estate transaction.
- Property Upgrades- They usually increase the value of the property if the property needs improvement or repairs.
- Real Estate Agent Fees – They take a % for the services they provide. Usually between 4%-7% depending on the property value.
- Inspection Fees – A property must be inspected to guarantee the property is in legal condition to be sold.
- Closing & Escrow Costs – This consists of lawyer fees, mortgage discharge fees (if applicable). Possible requests for discounts by the buyer.
Selling an apartment, business or house can be a complicated and complex process without the legal support of a professional Real Estate Attorney. In Miami, Perazzo Law suggests the following prior to selling your property:
- Get a profession appraisal from a trusted source.
- Keep in mind that it is a business transaction and not a friendly give and take.
- If possible, make repairs or improvements to up the value.
- Seek the professional advice and counsel of a Real Estate Lawyer.
- Contemplate hiring a Real Estate agent.
- Shop around for the right agent, one that is serious and offers fair commissions
Contact us ONLINE if you have any doubts or concerns about your Real Estate, Title, or Short Sale Options.
- Deposit and disburse escrow funds
- Constant Progress Update
- Response to lender’s requirements
- Coordination of the signing of loan/closing documents
- Prorate & adjust insurance, taxes, rents, etc.
- Record the deed and loan documents
- Preparation of final statement outlining funds received & to be disbursed
- Report on the transaction, as required, by state and federal agencies
- Short Sales
Many real estate and homeowners in Miami and across the State of Florida are likely underwater on their mortgage, meaning that they may owe more than their home is currently worth. If you or a loved one is struggling to make mortgage payments and struggling to get by, a short sale may be an option to consider.
A short sale process can also be very complex. That is why we are here to help. At The Perazzo Law Firm, we will provide full support and representation for a successful real estate transaction. In most cases, the attorneys at Perazzo law will be able to negotiate the deal in such a way that there will be no further liability to you. Through our involvement in the legislative process and various organizations, including the Florida Workers Advocates, an organization whose purpose is to fight for the rights and benefits of injured workers in Miami and we promote fair treatment for all Floridians.
The Perazzo Law Firm preserves and facilitates the needs and promotes the success of attorneys’ real estate practices through years of experience, as well as innovative products and services that allow attorneys to conduct transactions electronically and efficiently.