BUYER'S GUIDE

BUYER'S GUIDE

Your guide to smart home buying starts here!

At FPG Title, we’re honored to lead and coordinate your real estate closing, ensuring a smooth and efficient process from start to finish. Our team expertly prepares all closing documents and delivers title insurance services with precision, fully compliant with Florida’s stringent standards.

We know buying or selling a home can feel overwhelming, but we're here to simplify the journey. Your dedicated closing coordinator will handle every detail, providing continuous updates and guiding you through each milestone, from the initial HUD-1 statement to the final signing. We’re committed to making the closing process convenient and stress-free for all parties involved.

We're excited to partner with you through this process!

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9 Steps of Buying Home

  • Find the right real estate agent. Work with a lender to fill out the loan application to get pre-approved and determine how much you can afford & strategize your down payment.
  • The hunt for your new home begins/ tour homes you are interested in with your agent.
  • Make an offer. Your team will be there to help you structure an offer you are both comfortable with and guide you through each step of the negotiation process.
  • Inspection. It's a good idea to add a contingency clause into your offer stating that you have a certain amount of time to have the property inspected. This gives you the time to back out of the agreement if you and the seller can't agree on repairs.
  • Appraisal. The appraisal is an unbiased estimate of the fair market value of what a home is worth. Lenders order an appraisal during the mortgage process so to ensure that the amount of money requested by the borrower is appropriate.
  • HOA estoppel is ordered.
  • Title commitment is issued.
  • Loan approval from underwriter "clear to close".
  • Closing.
Time to sign the papers and pop some bubbly and celebrate being a new home owner!

5 Essential Tips for a Smooth Moving Day

Moving can be exciting but stressful! Here are five simple ways to make your moving day hassle-free.
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    Connect your internet/utilities

    When you move, you will need to connect your utilities. The utility company will need your new address, your preferred connection date, contact number and identification.

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    Change your address

    Go to USPS.com/move to change your address online. This is the fastest and easiest way, and you immediately get an email confirming the change.

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    Update your new contact info

    Although it’s important to make sure you officially change your address with relevant businesses and the post office, it’s also important to update your friends and relatives. Send a text message or email notifying people of your new address!

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    Pack an un-packing box

    When moving, pack an unpacking box containing essential tools like Allen keys, screwdrivers, labeled bags with furniture screws, tape, and dust cloths. Having these items organized will save time and stress when setting up your new home.

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    Pack a first night box

    A "first night box" is crucial for moving, containing essentials like clothing, toiletries, bedding, and personal necessities. This prevents frantic searching through boxes late at night, ensuring a smoother transition to your new home.

What is a 1031 exchange and how does it work?

A 1031 exchange gets its name from Section 1031 of the U.S. Internal Revenue Code, which allows you to avoid paying capital gains taxes when you sell an investment property and reinvest the proceeds from the sale within certain time limits in a property or properties of like kind and equal or greater value.

Any property held for productive use in a trade or business or for investment can be exchanged for like-kind property. Like-kind refers to the nature of the investment rather than the form. Any type of investment property can be exchanged for another type of investment property. A single-family residence can be exchanged for a duplex, raw land for a shopping center, or an office for apartments. Any combination will work. The exchanger has the flexibility to change investment strategies to fulfill their needs.

LIkE-KIND PROPERTY

The property is being sold and the property being acquired must be similar, or like-kind.

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INVESTMENT OR BUSINESS PROPERTY ONLY

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REPLACEMENT PROPERTY SHOULD BE OF EQUAL OR GREATER VALUE
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No 'BoOT' = NO TAXES

For an exchange to be completely tax-free, the replacement property must not be of lesser value. The difference is called a 'boot' and is subject to capital gains taxes.

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MUST INVOLVE SAME TAXPAYER

The tax return, and the name appearing on the title of the property being sold, must be the same as the tax return and titleholder of the new property

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45 DAY IDENTIFICATION WINDOW

The property owner has 45 days to identify up to three potential properties of like-kind, after closing or the first property.

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180 Day Purchase Window

The replacement property is received and the exchange completed no later than 180 days after the sale of the exchanged property.

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FPG Title: Your Trusted Partner in the Home Buying Journey

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