Real Estate Sales
Real
estate shopping and selling can be a difficult experience, particularly today.
But finding the right real estate agent in this complex and changeable market
can still result in a happy, satisfying and stress-free experience.
First, to make sure you are
selecting a new home that you will continue to like after it is yours, you are
best served in this very difficult market by having an agent who can point out
the strengths and weaknesses of each property and help you avoid potential
problems for the future. The head of Concierge-Worldwide is a licensed real
estate agent in Florida. Scott Michael's in-depth real estate experience
can help you find the home you want at the best possible price, and his
knowledge of construction, styles, and locations will ensure that you making a
solid investment decision with long-term growth potential.
Scott's 25 years of
experience in buying, building, managing and selling property from coastal Maine
to San Francisco, and from New York City to Fort Lauderdale brings you a
comprehensive background and understanding of real estate from the inside out.
He will help you avoid hidden problems. His expertise will benefit you by
increasing your understanding of what you are purchasing and help further your
financial interests during final negotiations.
Second, Scott Michaels will make a personal commitment to help you buy or
sell property, and his knowledge about today's foreclosure market brings a track
record of success to assure you'll find what you want within your
budget. Moreover, if you are selling property, he will arrange a professional
appraisal of the property at no cost to you, to keep your
expenditures down.
Third,
and perhaps most importantly, he will not waste your time touring real estate
that doesn't meet your demands. Scott knows where to go and who to see to find
what you seek. Once you outline your needs, he will search the area, zeroing
in your requests. He'll narrow all the available area real estate down to your
focus and specifications, so you will only visit viable properties that fall
within the scope of what you want to see. His team also includes real estate
lawyers, mortgage brokers and appraisers who will protect your interests.
Combining current technology with expertise and the personal service, Scott will
can guide you through today's broad real estate marketplace to success.
Even in this buyer's market, you are best
served with a savvy real estate agent's guidance.
As you tour properties, he will point out
positive and negative features and discover the fine details of your "wish list"
and further refine the search. His knowledge of the local market is an
invaluable asset to you. He will let you know when the market in a
particular neighborhood is "hot" and requires immediate action, or when it is
"cool" and allows more deliberation time. He will also let you know when
the asking price has negotiating room, and when something is priced to sell.
He will keep you a step ahead of your house hunting competition.
Buying bank owned properties
There is a lot of interest in buying bank owned
properties these days. A lot of information, some good and some bad, is floating
around about the subject. Often the information offered is for sale, with the
promise that you can make a lot of money with little effort once you know “the
secret formula”. The fact is that there are no secrets, and to make money does
require effort.
What’s an REO?
REO stands for “Real Estate Owned”. These are
properties that have gone through foreclosure and are now owned by the bank or
mortgage company. This is not the same as a property up for foreclosure
auction. When buying a property during a foreclosure sale, you must pay at
least the loan balance plus any interest and other fees accumulated during the
foreclosure process. You must also be prepared to pay with cash in hand. And
on top of all that, you’ll receive the property 100% “as is”. That could
include existing liens and even current occupants that need to be evicted. A
REO, by contrast, is a much “cleaner” and attractive transaction. The REO
property did not find a buyer during foreclosure auction. The bank now owns
it. The bank will see to the removal of tax liens, evict occupants if needed
and generally prepare for the issuance of a title insurance policy to the buyer
at closing. Do be aware that REO’s may be exempt from normal disclosure
requirements.
Is it a bargain?
It’s commonly assumed that any REO must be a
bargain and an opportunity for easy money. This simply isn’t necessarily true.
You have to be very careful about buying a REO if your intent is to make money
off of it. While it’s true that the bank is typically anxious to sell it
quickly, they are also strongly motivated to get as much as they can for it.
When considering the value of a REO, you need someone at your side who knows
comparable neighbohood sales and will point out the time and cost of repairs or
remodeling that is needed to prepare the house for resale. Bargains with money
making potential exist, but there are also many REO’s that are not good buys and
not likely to turn a profit.
Working with an experienced agent like Scott will
protect you from the potential pitfalls of these transactions. Since banks
almost always sell REO properties “as is”, you’ll want to be sure and include an
inspection contingency in your offer that gives you time to check for hidden
damage and terminate the offer if you find it more than you are prepared to
handle.
Concierge-Worldwide, under the direction of Scott Michaels, is prepared and
committed to work with people wanting to buy or sell Soufh Florida real estate.
Work with us, and we'll guide you to success.
Return
to Home