Ray Peckham Real Estate

Buying and Selling Surfside Real Estate

Surfside Real Estate Contract Options

Finally, the Exclusive Agency Listing allows an agent to list and market your Surfside real estate. The agent will earn a commission if he/she or any other agent sells the property but not if the homeowner finds his/her own buyer. Very few if any agents are willing to agree to spend time, money and know-how on promoting a home without the guarantee of a commission when the home sells.

Many people imagine that the agent who lists their home begins an immediate search for likely homebuyers for Surfside but this is not always the case. The real skill of a good listing agent is her/his ability to market your home to other agents. Usually as soon as your listing agent returns to the office, your home is entered into the MLS and is now available to hundreds, maybe thousands of other agents.

Surfside Disclosure Rule

If you are contemplating the purchase of an existing home or any Surfside, I strongly recommend that you utilize the services of a trusted home inspector. The final purchase of any home should be based on obtaining a favorable home inspection. Surfside is no exception to this rule.

What if the home inspector discovers a problem? That happens and as long as it happens before the sale is final the seller can fix the problem or the buyer who agrees to take the property as is can negotiate the price. Any questions regarding Surfside, just give me a call.

Surfside: Art and Science

Buying a piece of Surfside real estate is a science but buying your Surfside home is an art. The science part involves getting the legal and financial parts down while the art is finding the Surfside property that you’ll be happy with.

The total universe of possibilities within the universe of Surfside real estate is quite diverse but narrowing your search ahead of time will help keep things in perspective.

In general there are two phases to any Surfside real estate search. In the first phase, you get a feel for the different areas and an idea of what is being offered at what price. In the second phase, you search for the Surfside real estate that meets all or most of your specifications.

Building Surfside Home Equity

A popular question from prospective Surfside homebuyers relates to building home equity. Buyers like to estimate how much a home may increase in value based upon past appreciation. One of the many advantages of home ownership is that appreciation is based on the home’s market value rather than on the actual dollar amount invested or the down payment so that a $100,000.00 home that appreciates 5% is now worth $105,000.00, especially in Surfside.

With a typical 30-year loan, most of your monthly payment goes toward interest payments with only small amounts going to the principle in the early years. Only half the principle is repaid in the first 23 years of the loan. You can build Surfside home equity faster by choosing a 15-year loan instead of a 30-year loan.

The Benefits of Selling Surfside

If your Surfside holdings consist of both a personal residence and a rental, you can sell your personal residence and exclude up to $250,000 ($500,000 for a married couple) on the gain. Then you move into your rental, live in it as your personal residence for two years and then sell it, again benefiting from the $250,000 or $500,000 exclusion. This is true even though most or all of the increase in value occurred before you converted the property to your personal residence.

When Surfside Does Not Sell

The number one, main reason why a home remains on the market is PRICE. There can be other problems as well such as the home’s condition or location and even overall market conditions but the major reason for the NO SALE sign is the Surfside is over priced. In fact, proper pricing will often overcome most all obstacles.

Some people prefer to buy Surfside that needs some work if the price is right. Investors look at the property, evaluate the cost of brining it up to speed and make an offer if they feel they can make a quick profit. These kinds of investors are looking to fix and flip. Others with limited budgets may see the fixer-upper as a way to get started with Surfside ownership. They may spend years working on improving the home, making improvements as they can afford it. So, a home’s poor condition will not prevent a sale if the price reflects the situation.