Florida Homes and Condos for Sale

Florida Homes For Sale - Under Contract is Not Sold

Not long ago I read an article that stated something to the effect only 37% of homes “under contract” make it to closing these days.

Although I am not 100% certain where this statistic came from I am certain of this......

It is good to remember a signed contract to purchase your home does not mean it is a done deal.  


There are lots of things that can go awry along the way to the closing table.  Of course if you have a good real estate agent working for you they should be able to help get most issues resolved!

If it is a short sale, the buyer may walk while they are waiting for a decision by the lender.  Or, the seller and lender may never come to an agreement on any deficiency remaining if the offer is approved.

Or your buyer may have a change in financial situation that makes obtaining a mortgage impossible.

Or the home may “fail” the home inspection.  There is really no pass or fail but rather a subjective accept or rejection of inspection results by the buyer. (Always include an inspection contingency.)

Or the appraisal does not support the loan amount and the lender will not finance the purchase under the current terms. (Always include a financing contingency.)

I have not included all things that can prevent closing but suffice it to say – “Never quit looking for buyers until the deal closes.”

As a seller once you have the contract in hand be prepared for anything - up to placing your home back on the market.

When you are ready to buy or sell a home in Brevard County, Florida, call me please.  Sellers, email me for a free market analysis.

Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

www.moving2brevard.com

 

 

 

 

Read my blogs Florida Homes for Sale,  Moving to Brevard County, Florida, and  Brevard County Florida Real Estate Information.

 

7 comments • Gary L Waters PLLC- Broker Associate Realtor® Melbourne Viera Rockledge FL • May 04 2012 07:38AM

Selling Your Brevard County Home - The Most Critical Issue

Selling Your Brevard County Home - The Most Critical Issue

When you are ready to sell your Viera or Rockledge, Florida home, the most critical issue (of the many!) is getting the price right from the start.

I underlined from the start above because the end result is much different than getting the price right two months later after multiple price reductions!

The initial process to recommend a price is the comparative market analysis ( a "price right analysis").

Within this process I look at several characteristics and factors. It is here where local market (your neighborhood, city, etc.) knowledge is critical to applying these characteristics.

Some of theses include:
  • Living area:  The square footage under air conditioning is what we customarily use here in Florida. Other locales may use the total square footage under the roof.
  • Total square footage:  Total area under the roof.
  • Age:  As close as possible match the construction year.
  • Type of construction:  Concrete/concrete block is more desirable in Florida than a frame (wood) construction.
  • Roof materials:  Whether the roof is asphalt shingle or tile (terracotta) is a factor as tile is usually more desirable and expensive.
  • Garages: The existence of a garage and the capacity (1, 2 or more cars).
  • Community characteristics: Is it a gated community, has a home owner's association, community amenities such as pool, playground, etc.
  • Location: This is one of the most important factors.  Of all the characteristics this one can not be changed!
  • Number of Bedrooms and Bathrooms:  Common sense says that the more rooms, likely the greater value.
  • School quality:  Although you may not have school age children, the quality of the local schools impacts your home's current and future value. People want a good school district when they buy.
  • General condition:  Often there are maintenance issues that have been neglected. Any needed repairs or maintenance must be considered.
  • Competitive listings.  Fair market sales, short sales and foreclosure properties must be considered.  That is the reality of the current market.
Outside of the numbers we must consider your time table, whether the sale will be a standard sale or a short sale, and any issues of concern to you.

Setting your list price does not involve any marketing bells and whistles..... as a seller, it is all about you and getting your home sold and getting the price right initially is the most critical issue.


Call me directly at 321-693-3850 when you are ready to sell your Viera, Suntree or Rockledge Florida home! Or email me if you prefer!
Share |

Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

www.moving2brevard.com

 

 

 

 

Read my blogs Florida Homes for Sale,  Moving to Brevard County, Florida, and  Brevard County Florida Real Estate Information.

 

5 comments • Gary L Waters PLLC- Broker Associate Realtor® Melbourne Viera Rockledge FL • May 31 2011 07:40AM