Galaxy Title & Escrow

South Florida is a great place to invest in real estate for a number of reasons. The warm climate is a major draw for many people, as is the proximity to the beach. The area also has a strong economy and is home to many businesses and cultural attractions. Galaxy title & escrow offers a full range of services to make your real estate transaction as smooth and stress-free as possible.

In 2021, the median single-family home price in the state of Florida was 348,000 U.S. dollars, up from 145,000 U.S. dollars in 2012. Despite this consistent growth in home prices, the volume of single-family homes sold in the state stagnated between 2015 and 2018.

Miami’s hot housing market, fueled by domestic and international homebuyers, ended 2021 with 39,394 existing total home sales, up 49.5% from the 26,345 transactions in 2020 and 31.1 percent from the previous annual record of 30,041 transactions in 2013. Miami’s dollar volume of sales will reach $30.3 billion in 2021, a 103.4 percent annual increase.

Broward ended 2021 with 40,423 total home sales, a 28.4 percent increase over the previous year and a 19.3 percent increase over the previous annual record of 33,891 transactions set in 2016. Broward also set new annual records for single-family home sales (18,565) and condominium sales (18,565). (21,858).

Palm Beach County lies directly north of Broward County and Miami-Dade County. It is ranked 18th on Bloomberg’s latest list of the richest places in the country, based on U.S. Census data for average household income. According to a 2019 census report, the county had a population of 1,496,770, making it the third-most populous county in the state of Florida and the 25th-most populous county in the United States.

Real estate buyers and sellers in South Florida should be aware of the steps involved in a real estate transaction. The process can be complex, so it’s important to have a trusted title & escrow company like Galaxy on your side.

We understand how important it is to have a title & escrow company you can trust. That’s why we take pride in our work and always put our clients’ best interests first. We also know that the real estate transaction process can be confusing and overwhelming. That’s why we’re here to guide you through every step of the process – from start to finish.

Here is a brief overview of the real estate transaction timeline and why each step is critical:

• Offer accepted: Once you’ve found a property you’re interested in and made an offer that has been accepted by the seller, it’s time to start working with a title company. The first step is to order a title search, which will help ensure that there are no outstanding liens or judgments against the property.
• Loan application: The next step is to apply for a loan. Your loan officer will work with you to get all of the necessary paperwork in order.
• Appraisal: Once your loan has been approved, an appraiser will be assigned to assess the value of the property. This appraisal will be used by the lender to determine how much money they are willing to lend you.
• Home inspection: A home inspector will check for any major problems with the property that could potentially cost you money down the road.
• Insurance: You will need to purchase homeowners insurance to protect your investment.
• Closing: The final step is closing, where all of the paperwork is signed and the Property Owners Association (POA) is given their due diligence fee. At this point, you will be the official owner of the property!

The first step in any real estate transaction is the purchase agreement. This is a legally binding contract between the buyer and seller that outlines the terms of the sale. Once the purchase agreement is signed, the next step is to obtain a title search. This is done to ensure that there are no outstanding liens or other encumbrances on the property. If everything looks good on the title search, the next step is to obtain title insurance. This protects both the buyer and seller in case there are any problems with the title.

The next step is to open escrow. This is a third-party account that holds all of the funds involved in the transaction. Once escrow is opened, the buyer and seller will sign all of the necessary paperwork. The final step is to close on the property. This is when all of the funds are transferred and ownership is officially transferred from the seller to the buyer.

Galaxy Title & Escrow can help you with all of these steps. We are a full-service title company that can handle everything from purchase agreements to title insurance to closing on your property. Contact us today to learn more about our services!