What condition should a seller leave their house in at closing?

One of the last steps in the home buying process is for the buyer to do a a final walk through inspection.  With my buyers I prefer to do this on the way to the closing table.

The main focus of the final walk through is to make sure the house is in the same condition it was in when contracted including the appliances and lights, etc. that are supposed to remain are still present.

Not nearly as valuable as the physical house and associated property there is also an expectation the property will be clean.   While there will not be a white glove inspection it is expected that the property will be emptied of trash and personal contents.

It is expected that hazardous materials like old paint cans and insecticides and flammable items will be gone as well and not left in the garage.

Trash at the curb is usually not a problem.  Even older appliances or TVs that will be picked up is not a problem as long as a special pickup scheduled by seller, of course. 

While it is not necessary to have Merry Maids clean your house before going to closing please respect your buyers by having your house ready for the new owners.

And if a gift certificate for Merry Maids is desired, in Brevard County, order here.



What is a "Walk Through?"







"Cleaning "image courtesy of AKARAKINGDOMS at FreeDigitalPhotos.net
"Garbage Truck Driver"  image courtesy of vectorolie at FreeDigitalPhotos.net

Home Seller Tips: Dealing with multiple offers.

As the Brevard County, Florida home sales market continues to heat up with fewer move in ready listings sellers are finding themselves in a very good position.  Buyers should enter the market knowing they may not be the only buyers wanting the home they find.

Sellers are seeing multiple offers more frequently. 

How many sellers would not want to be able to say "Give me your highest and best offer"? 

But sometimes the highest may not be worth the paper it is written on! 

Why?  Because most buyers are financing. 

Financing requires an appraisal.  Many buyer's agents make it a practice to include an appraisal addendum which basically says either appraise at or above contract price or I can walk.

Appraisal contingencies are not that uncommon.  Most cash buyers I have worked with opt for an appraisal addendum as well.  Who wants to pay more than a house is worth?

So how does a seller evaluate multiple offers?  The most important advice I can give here is to evaluate the offers just as you would any other offer. 

Here are two of the most important considerations with any offer to purchase your home.

1. First and foremost, sellers know your bottom line.    Know what is and is not negotiable.  
2. Remember the offer is often much more than the price. Read my thoughts on when the highest offer may not be the best offer.  Remember terms define the real price.

A few words of advice for buyers who find themselves in a seller's market.  

1. Be realistic with your offer.  Make it an appropriate "lets talk offer" that, even if rejected, will result in a counteroffer.
2. Your offer should include reasonable terms such as a defined closing date, reasonable deposit (escrow),  appropriate support like a mortgage pre-approval letter at the time of offer.
3. In a multiple offer situation which is becoming more common in Brevard County, consider including a letter to the seller explaining why you like the house so much.  Whatever it takes to get the home of your dreams.
4. Calling the listing agent will not result in a better deal for you.  The agent works for the seller.

Whether you are ready to buy a home in Melbourne, Florida or to buy a condo in Cocoa Beach, Florida, give me a call at 321-693-3850 if I can help in any way.  

Home Buyer Tips: Would Disney World accept 80% on price of admission?

Home Buyer Tips:  Would Disney World accept 80% on price of admission?

What kind of response would you get if you went over to Disney World in Orlando and went up to the admission gate and offered $84 for Disney World admission?

This really is meant to be a rhetorical question.  The response would likely be something like "Please step aside for those willing to pay the price of admission."

Now, lets change the scenario.

What kind of response do you think you would get if you went to a home seller in Viera, Florida and offered 80-85% of listing price?   [By the way, the $84 used  above represents 80% of the Disney World single day ticket price of $105]

Although several responses are possible the most likely one will be similar to the "Step aside and let the buyers in who are willing to make a serious offer."

What is a serious offer?  While price is usually issue number one when it comes to evaluating a serious offer it may not be the highest priority.   An offer that is above the market price may not appraise and subsequently will fail to close. 

A seller may accept an offer that is less but cleaner (not excessive contingencies).  It may be the offer with the soonest closing date.  It may be the "as is" offer instead of the one with a repair contingency.  It may be an offer with conventional financing as opposed to FHA or VA loans.  It may be the offer without the personal property requests (TV, washer/dryer, riding mower, etc).

Suffice it to say home buyers, like Disney visitors, must be willing to pay the price of admission.  And while that price is likely negotiable starting at 80% of list price may not be the best strategy.  

Make it a Lets Talk Offer!
 
Serious Buyers, Motivated Sellers!

Selling Your Brevard County, Florida Home - (And a Suggestion For Homeowner Associations)

Everyone has an opinion on the home owner association.  Is it good?  Is it bad?  Where did home owner associations come from anyway?

As a real estate agent working with buyers who are most often looking to purchase a Brevard County, Florida home in a community with a mandatory home owner association I have one suggestion.

Home owner associations should monitor all homes for sale in their community.   If there is a current violation like neglected lawns/landscaping, paint color issues, mold/algae issues (common in Florida) or whatever address it as soon as the for sale sign goes up.

This is step will serve a couple of purposes.

1. First, it will help the seller get the home sold faster by improving an obvious appearance issue.   
2. Secondly, the new home owner will not be alienated by receiving a notice of violation as soon as they move in their new home. 

Sellers should also consider their compliance with association rules and restrictions when preparing their home for sale.  And sellers should make sure they accurately disclose how much the association dues currently are and if an increase is in the future.

Buying and selling a home can be quite stressful.  Dealing with home owner association issues up front is an easy hurdle to clear before the for sale sign goes up.

If you are considering selling your Viera, Florida home, pelase give me a call at 321-693-3850 if I can help.

Send me an email for your free market analysis.

 

Home Buying Process - Getting to the Closing (after the contract is signed!)

Whether buyer or seller a meeting of the minds (signed contract) is only the beginning of the end.   There will be many players (and emotions) involved in the process from contract signatures to the exchanging of keys.  At times there will be drama, excitement, fears, relief....you name it! 

The process I speak of here is specific to the Brevard County, Florida real estate purchase/sale process but similarities exist regardless of location.

Who are some of the actors?

Besides the obvious actors like the buyer, seller, buyer's real estate agent and seller's real estate agent probably the most important actor is the mortgage lender.

It is critical buyers have an open communication link with their mortgage lender.  Once a mortgage pre-approval has been received it is critical that nothing be done to impact it (no job change, no new major purchases, no new credit account or application, etc.).

Then there are the property inspectors.  The home inspector and termite inspectors are key to identifying red flags that either need to be addressed or send the message to walk away.  Some issues may require further examination by the expert (i.e. HVAC, contractor, etc.).   And if there is a pool or spa there may be an additional inspector involved as well.

With my buyers in Brevard County, Florida I always include an inspection contingency - a buyer's "get out of jail free card"  in all offers to purchase a home including cash offers.

Then there is the appraiser.  Although not part of the mortgage lender mentioned above it is this independent appraisal of value that ultimately determines whether a mortgage lender will indeed provide a mortgage loan.   This where I prefer buyers use a local lender who uses a local appraisal company  although a buyer has no impact on which appraiser is used.  I just spoke with an agent who had a buyer fail to obtain a mortgage because the appraiser was in Tampa - almost 150 miles away!

Finally, there is the closing agent.  In Brevard County, Florida the closing agent is typically a title company although attorneys provide closing services as well.

There can be other incidental actors involved as well depending on whether the sale is a distressed sale (short sale or foreclosure) or even an estate sale.

Whether buyer or seller keep your lines of communication open with your real estate agent as well as your mortgage lender.  Ask questions as they arise and be responsive to any and all requests for additional information.

Remember, with real estate transactions time is of the essence.  Do not miss deadlines!

Considering buying a home in Brevard County, Florida?  Call me at 321-693-3850 or send me an email.

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Home Seller Tips: List your Viera, Florida home for 30 days - period.

Home owners thinking about selling their Viera, Florida house or condo are very often nervous about committing to a Viera real estate agent for a potentially long time.  I can understand their concern when it comes to a long listing agreement to sell their home.

What happens if there is no activity?  What do they do if they are unhappy with the real estate agent they chose?   After all, sitting and waiting is not a marketing strategy!

I do not believe in long term listing agreements.  If I do my job correctly, there is no long commitment required.

What is my job?  To promote your home in such a manner as to get multiple offers with the last one being the best!

Selling your home disrupts your lifestyle.  Selling your home involves a lot of uncertainty about the future.

Sellers usually want to sell their home now and not six months down the road.

That is why I tell Brevard County, Florida home sellers to judge me by my 30-10-1 rule.


What is my 30-10-1 rule?   List your home wit me and you will have at least 10 showings in 30 days with at least one reasonable offer.  In other words, give me thirty days and and they can walk if they are not happy with my results.


What do I ask of my Viera, Florida home sellers?

Commitment to the process.  This includes adequate preparation for the market.  This includes accommodation of reasonable showing requests.  This includes maintaining their home in a ready to show condition that will impress prospective buyers.  This includes establishing a reasonable listing price that is supported by comparable properties.

Ready to sell your Viera, Florida home?  Call me at 321-693-3850 or send me an email. 

Where does the best advice available for home buyers come from?

If you are considering buying a home in the near future there will not be a shortage of advice.

Advice will likely come from all directions. 

The know-it-all at work will likely be among the first to offer advice as he knows it all.   And then get ready for the family experts.   Uncle Joe who knows everything will tell you the secrets of getting the best deal in town ("Go FSBO" may even be uttered).  And then lets not forget the Internet.  There is never a shortage of information on the Internet.

Buying a home requires specialized knowledge.  Buying a home requires specialized local knowledge.

Evaluating advice (solicited or not) can be a challenge.

If you are considering buying a Brevard County, Florida home here is some more unsolicited advice. But, in this case, I am a real estate agent with specialized local knowledge.  [By the way, this is the answer to the question posed in the title.]

A few points of unsolicited home buying advice from experience...

• Deal with the finances first - period.  
• Perception is reality.  You need someone to clarify your perception.
• Don't spend as much as you "can" on your home.  Regardless of the direction often real estate market buying high is not good strategy.
• Decide what your real requirements are and go from there. Then the pluses that separate these homes will lead you to the right decision for you. 
• Don't acquiesce to the "must have" items you will regret not having later. 
• Don't trust all you read.  The seller or their agent may be mistaken or, hopefully not, intentionally misleading.  This also applies to "public" records and MLS listing information. 
• Don't rely solely on what you "hear" someone say.
• Once a mortgage is pre-approved, freeze life as you know it. Don't make major purchases, open new accounts, change jobs.
• The only thing that can not be changed later is location.  Choose wisely.
• Homeowner associations exist to maintain uniformity and conformity.  
• Work with one real estate agent only.  Remember buyers don't pay the real estate agent fees - sellers do!
• Take your real estate agent with you to new construction models as well.

The above general comments are not all-inclusive but are provided only as a starting point to focus the reader.

If buying a home in Florida is in your plans, give me a call at 321-693-3850 if I can assist in any way.

Image courtesy of Stuart Miles at FreeDigitalPhotos.net