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Tuesday, October 13, 2015

Twelve Rules for Buying or Selling a Home in Florida

The below "rules" for buying or selling a home, are provided as a good starting point for anyone moving to Brevard County, Florida.  These are presented as general observations about the conditions and processes.  Consult a local Brevard County, Florida real estate agent for information about the local real estate market.
  • The better the view, the higher the price.  It does not matter what the view consists of specifically (water, preservation area, ocean, pond, etc.).   When it comes to condos add this as well "higher the floor, the higher the price. " 
  • "As is" does not always mean "As is."   Sellers will sometimes negotiate a price downward after the inspection reveals issues.  They may make some repairs to close the deal rather than go back to the well looking fro another buyer. There are other potential solutions such as a credit at closing to make repairs. 
  • Gated does not mean secure unless you have a guard on duty.    There are some communities where "outsiders" do not get inside unless they are authorized by owner and have the gate opened by a guard. If the gate is not manned then don't assume no one gets in!.  And there are some gated communities where the gates are open for a couple of hours in the morning and again in the afternoon to facilitate the rush hour traffic.
  • The outside of a house is almost always an indicator of how well the inside is maintained.  If the yard is neglected, paint is fading, plants are dead it is quite likely the inside will show neglectIt all starts with curb appeal! 
  • Golf course direct is more expensive than "in a golf course community."  If you must have a home on/near the green or fairway you will pay more than if it is on the other side of the street in the same community. 
  • A new coat of paint will not change the zip code.   Check the crime statistics, school performance, commute times.  The house may look great but it will always be location, location, location.  Think about this when buying because one day you will likely be the seller!
  • Bold paint including your school colors palette will not sell a house except to an alumnus, maybe.  Beige, neutral, non-personal sells.  And wallpaper is oh so personal!
  • Some words are the kiss of death.  Some words appearing in real estate ads like cozy, cute, TLC, fixer upper, compact, charmer and a few others should not be taken literally!   
  • The price is low for a reason.  People do not sell very many things including a house for a significant discount.  There is always a reason for the low price and it is usually because of condition, location, poor view, etc.
  • Offering a Home Warranty Does Not Compensate Poorly Prepared Homes.   Warranties are nice but will never overcome a problematic property.  Proper pricing takes into account issues - not offering a warranty.  
  • Quick Closings Are Always Preferable.  The longer the time between the contract and the scheduled closing the greater the chance something will happen to derail the transaction. With the recent changes in the closing disclosures (TRID) most mortgages will need, at a minimum,. 45 days.
  • Do not believe everything you read - or hear - period!  Yep, the guy at work, Uncle Joe or whomever may not know squat.  And just because you find something on the Internet does not make it so! Talk to a local real estate pro!
The above are only general statements about the home buying and selling process in Brevard County, Florida.   Here are some more common rules for anyone considering buying or selling a home in Florida.   Please consult a local real estate expert for personalized information.

If you are ready to buy or sell a home in Melbourne, Florida, I want to help you!


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