Sanford

Judicial

In a judicial foreclosure state, the lender must go through the court system in order to foreclose on a property. This process can be longer and more expensive for the lender compared to a non-judicial foreclosure.

Title companies and attorneys handle closings. Conveyance is by warranty deed. Mortgages are the customary security instruments. Foreclosures are judicial and take about 3 months. They involve service by the sheriff, a judgment of foreclosure and sale, advertising, public sale, and finally issuance of a certificate of sale and certificate of title. ALTA policies are commonplace. Buyers pay the escrow and closing costs, while county custom determines who pays for the title insurance. Sellers pay the documentary tax. Property taxes are payable annually, but the due and delinquent dates are months apart, November 1st and April 1st. Under Florida law, a widow or widower has the right to live in their deceased spouse’s house for the remainder of his or her life, even if the home is willed to someone else.  A Homestead Exemption exists for an owner’s residence in Florida. Florida’s exemption is unique because it lacks any monetary cap on the homestead protection, while other states which offer a homestead exemption usually place a limit on the valuation which can be protected.

Due annually on November 1st

YES. Key components of property management (renting and leasing) are considered a real estate activity under existing Florida real estate licensing laws. A property manager needs broker license if he or she is paid by commission, and is handling rentals and leases for others. No license is required for managing personally owned properties. There is not a "Property Manager" license or certificate. Also, certain rental properties need a license through the Div. of Hotels and Restaurants.

YES. For example, if a property owner employs someone to manage their property, and that employee is paid a salary, as opposed to being paid a commission or on a transactional basis, a broker's license is not required. For more information about these and other Florida property management requirements and exceptions, please contact the Florida Real Estate Commission. Before hiring a property manager to manage your Florida rental property, you should always check that he or she is licensed appropriately. You can check the license status of Florida property managers at the Florida Department of Business and Professional Regulation's Licensee Search webpage.

No. However, a Community Association Manager license is required if someone receives compensation for providing management services for the following types of associations: - An association with ten or more units - An association with a budget of $100,000 or greater

Florida real estate broker licensing requirements include: - Age: Must be at least 18 years of age - High School: Must have a high school diploma or equivalent - Experience: Must have held a current real estate sales associate license for at least 24 months during the 5 year period immediately preceding becoming a licensed broker - Education: Successfully complete a Florida Real Estate Commission approved pre-licensing course for brokers, consisting of 72 classroom hours and covering specified topics. Courses are valid for licensure purposes for two years after completion. In addition, successfully complete a FREC-approved post-licensing course for brokers, consisting of 60 classroom hours before the initial broker license expires. - Exam: Pass the Florida Real Estate Broker Examination with a grade of at least 75 - Fee: $115 ($20 application fee; $90 license fee; $5 unlicensed activity fee) - Application: Complete and submit broker license application which is available online

Florida real estate salesperson licensing requirements include: - Age: Must be at least 18 years of age - High School: Must have a high school diploma or equivalent - Education: Successfully complete a Florida Real Estate Commission 63-hour sales associate course - Trustworthiness: Must be of good moral character; must have a background check and submit fingerprints - Exam: Pass the Florida Real Estate Sales Associate Examination with a grade of at least 75 - Fee: $105 - Application: Complete and submit sales associate license application which is available online