Transparency and Dedication

We offer competitive prices based on a property's true potential, not just its current condition. Our team provides transparent, jargon-free explanations throughout the selling process. We prioritize the needs and circumstances of our clients. Whether with homeowners facing challenging situations or those simply seeking a quick sale, our approach is tailored to provide the best possible outcome for each individual seller.

Community Improvement

At Broward Property Buyers Pro, we're committed to enhancing the neighborhoods we serve. We see each property acquisition as an opportunity to contribute positively to Broward County's development and revitalization. We don't just flip houses; we transform them. Our renovations focus on durability and modern appeal, turning distressed properties into homes that Broward residents are proud to live in and next door to.

We're dedicated to transforming distressed properties into attractive, safe homes. Our focus on sustainable and quality renovations not only improves individual properties but also contributes to increasing overall neighborhood value. By improving properties across Broward, from Fort Lauderdale to Hollywood, we actively contribute to raising local property values and attracting new residents to our vibrant Gold Coast county.

At Broward Property Buyers Pro, we understand that sellers often wonder how we can offer competitive cash prices for their properties while still running a profitable business. Here's how we create a win-win situation:

1. Efficient Operations: We've streamlined our processes to minimize overhead costs, allowing us to offer more competitive prices.

2. Volume-Based Model: By handling multiple properties, we can operate on smaller margins per transaction.

3. Renovation Expertise: Our team's experience in renovations allows us to accurately estimate repair costs and potential resale value, often seeing potential where others don't.

4. Market Knowledge: Our deep understanding of Fort Lauderdale's real estate market helps us make informed decisions quickly.

5. No Commission Fees: By eliminating real estate agent commissions, we can offer higher net amounts to sellers.

6. Quick Turnaround: Our ability to close deals rapidly reduces our holding costs, savings we can pass on to sellers.

7. Value-Add Strategies: We often improve properties post-purchase, creating value through strategic renovations or repurposing.

8. Diverse Exit Strategies: We have multiple ways to profit from properties, including reselling, renting, or developing, allowing us to offer competitive prices upfront.

9. Risk Management: Our experience helps us mitigate risks, allowing us to make fair offers even on properties that might seem risky to others.

10. Long-Term Perspective: We focus on building a reputation for fair deals, which brings us more business and referrals over time.

By leveraging these strategies, we're able to offer sellers a fair price for their properties while maintaining a sustainable business model. Our goal is to create solutions that benefit both the seller and our company, ensuring a positive outcome for all parties involved.

Yes, there are several key trends in the Broward County real estate market as of 2024 that you should take into consideration when selling your property:

1. Declining Home Sales: Broward County experienced an 18.25% drop in home sales in June 2024 compared to the previous year, with total home sales decreasing from 2,722 to 2,226.

2. Rising Home Prices: Despite the sales decline, single-family home median prices increased by 7.4% year-over-year in March 2024, from $565,000 to $607,000.

3. Luxury Market Growth: Total $1M and up home sales rose 7% year-over-year in March 2024, indicating resilience in the luxury segment.

4. Increasing Inventory: New listings in Broward County increased by 16.88% year-over-year in March 2024, from 3,454 to 4,037, providing more options for buyers.

5. Cash Sales Dominance: Cash sales represented 42.6% of Broward closed sales in March 2024, significantly higher than the national average of about 28%.

6. Condo Market Challenges: The condo market faced more significant declines, with sales dropping 22.4% year-over-year in March 2024. This is partly due to new legislation requiring financial reserves and structural integrity studies for condo associations.

7. Extended Time on Market: The median number of days between listing and contract for single-family homes increased to 35 days, while for condos it rose to 39 days, indicating a slowing market.

8. Commercial Real Estate Growth: There's been growth in the commercial real estate sector, with increased demand for office spaces, retail properties, and industrial facilities.

9. Population Growth Impact: Continued population growth in Broward County is expected to drive demand for housing and commercial properties in the coming years.

These trends indicate a cooling residential market with opportunities for buyers, but also challenges for sellers, particularly in the condo segment. The market remains dynamic, with cash buyers and luxury properties playing significant roles in shaping current conditions.

Sources: jalexandergroup.com, miamirealtors.com, bosscgc.com

When selling your house for cash in Broward County, Florida, you should be aware of the following tax implications:

1. Capital Gains Tax: You may owe federal capital gains tax on the profit from your home sale. However, if you've lived in the home as your primary residence for at least 2 of the last 5 years, you can exclude up to $250,000 of the gain ($500,000 for married couples filing jointly).

2. Property Taxes: In Broward County, property taxes are typically prorated and paid at closing. The current year's taxes will be split between you and the buyer based on the closing date.

3. Documentary Stamp Tax: Florida imposes a documentary stamp tax on real estate transfers. In Broward County, this tax is $0.70 per $100 of the property's value (or fraction thereof).

4. State Income Tax: Florida does not have a state income tax, so you won't owe additional state taxes on the sale.

In Broward County, property taxes are collected annually, with bills typically mailed in November and due by March 31 of the following year. For a cash sale:

1. Taxes for the current year are usually prorated at closing.

2. The seller is responsible for taxes up to the closing date.

3. The buyer assumes responsibility for taxes from the closing date onward.

4. After the sale, the new owner will receive future tax bills directly from the Broward County Property Appraiser's office.

While you don't need to report the sale directly to the IRS, there are some reporting considerations:

1. Form 8300: Cash transactions over $10,000 must be reported using IRS Form 8300. However, this usually only applies to physical cash transactions, not bank transfers.

2. FinCEN Reporting: Depending on the sale details, the title company may need to report the transaction to the Financial Crimes Enforcement Network (FinCEN).

3. Local Recording: The sale will be recorded with the Broward County Records, Taxes and Treasury Division, which is public information.

As a cash seller, you won't be able to claim certain deductions that mortgage holders can, such as:

1. Mortgage interest deduction

2. Mortgage insurance premium deduction

3. Mortgage points deduction

However, you can still deduct property taxes paid, up to the federal limit of $10,000 for married couples filing jointly ($5,000 for single filers).

To prepare for potential taxes:

1. Calculate your potential capital gains by subtracting your home's original purchase price and any qualifying improvements from the sale price.

2. Set aside a portion of the sale proceeds for potential tax liabilities.

3. Consult with a local tax professional familiar with Broward County real estate transactions to understand your specific tax situation.

4. Keep detailed records of the sale and any home improvements you've made, as these can affect your tax basis.

Understanding Property tax rates in Broward County, Florida:

1. The median property tax rate in Broward County is 1.44%, which is higher than both the Florida state median (1.14%) and the national median (0.99%).

2. With a median home value of $357,080 in Broward County, the typical annual property tax bill reaches $4,521.

3. The County's current (2024) millage rate for county services is $5.6690 per $1,000 of taxable value. This means for each $100,000 of taxable value, a property owner would pay $566.90 for County services.

4. Property taxes in Broward County are calculated based on the tax assessed value, which is generally lower than the actual market value due to various property tax exemptions.

5. Tax rates can vary significantly between different areas within the county.

6. Property assessments take place every year, and improvements or additions to a property can increase its taxes.

7. The Homestead Exemption in Florida limits annual increases in property taxes for primary residences to no more than 3%, even if property values increase more rapidly.

It's important to note that these figures may vary depending on the specific municipality within Broward County and the year of the data. For the most accurate and up-to-date information, it's best to consult the Broward County Property Appraiser's office or a local tax professional. Remember, while cash sales can offer simplicity and speed, it's crucial to understand the tax implications specific to Broward County and Florida.

This material is presented for informational purposes only. Always consult with a qualified tax or legal professional for personalized advice based on your unique circumstances.

We specialize in purchasing a wide array of properties throughout Broward County, catering to the unique real estate landscape of South Florida:

1. Coastal Residences: From luxurious beachfront condos in Fort Lauderdale to waterfront homes in Hollywood, we understand the value and challenges of coastal properties.

2. Inland Single-Family Homes: Whether it's a starter home in Coral Springs or a family residence in Pembroke Pines, we're interested in properties across Broward's diverse neighborhoods.

3. Multi-Unit Dwellings: From duplexes in Deerfield Beach to larger apartment complexes in Plantation, we acquire properties with multiple living units.

4. Commercial Real Estate: We purchase a variety of commercial properties, including office buildings in downtown Fort Lauderdale, retail spaces in Sunrise, and warehouses near Port Everglades.

5. Vacation Rentals: Given Broward's tourism industry, we're keen on properties that have been used for short-term rentals or have that potential.

6. Distressed Properties: We specialize in homes affected by foreclosure, requiring major repairs, or damaged by hurricanes or flooding - common issues in Broward County.

7. Undeveloped Land: From small lots in established neighborhoods to larger parcels in western Broward, we're interested in land with development potential.

8. Age-Restricted Communities: Given Broward's significant retiree population, we purchase properties in 55+ communities like Tamarac or Coconut Creek.

9. Luxury Estates: High-end properties in areas like Weston or Las Olas are also within our scope.

Our team is well-versed in Broward County's unique real estate challenges, including flood zone considerations, hurricane preparedness, and condo association regulations. We're equipped to handle properties affected by recent legislative changes, such as those impacting condo safety requirements.

Regardless of your property's condition or your circumstances - whether you're facing foreclosure, dealing with difficult tenants, or simply need to sell quickly - we're prepared to make a fair, all-cash offer. Our extensive experience in the Broward County market allows us to navigate complex scenarios and provide solutions tailored to your specific situation.

We provide services for Fort Lauderdale, Pembroke Pines, Hollywood, Miramar, Coral Springs, and the entire Broward County area: Coconut Creek, Cooper City, Dania Beach, Deerfield Beach, Hallandale Beach, Lauderdale Lakes, Lauderhill, Lighthouse Point, Margate, North Lauderdale, Oakland Park, Parkland, Plantation, Pompano Beach, Sunrise, Tamarac, Weston, West Park, Wilton Manors, Davie, Hillsboro Beach, Lauderdale-By-The-Sea, Pembroke Park, Southwest Ranches, Lazy Lake, Sea Ranch Lakes, and areas including these zip codes: 33004, 33008, 33009, 33019, 33020, 33021, 33022, 33023, 33024, 33025, 33026, 33027, 33028, 33029, 33060, 33061, 33062, 33063, 33064, 33065, 33066, 33067, 33068, 33069, 33071, 33072, 33073, 33074, 33075, 33076, 33077, 33081, 33082, 33083, 33084, 33093, 33309, 33310, 33311, 33312, 33313, 33314, 33315, 33316, 33317, 33319, 33321, 33322, 33323, 33324, 33325, 33326, 33327, 33328, 33329, 33330, 33331, 33332, 33334, 33351, 33388, 33441, 33442.

If unsure, simply reach out to us to find out whether your area is covered for our property buying services.