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Home Selling in Land O Lakes : Real Estate Advice

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Activity 4
Sun Feb 7, 2016
micino60 asked:
Good morning.
We (my wife and I) are NOT American, we are Italian and we own a house in Florida, with no mortgage.
This house is for tourism, that means, we come here almost six months…
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Sat Jan 3, 2015
Annette Lawrence answered:
Adding living space by running ducts from the existing system is common practice and does not require a permit.

What you will encounter and should prepare for, is the buyers APPRAISAL. The appraiser may not include this non-recorded space in their evaluation, at the direction of the lender who ordered the appraisal. If you selected the buyer with the wrong lender, you will reduce your price or lose the deal.

Here in Dunedin and Palm Harbor FL, (and most near beach locations) the buyer and seller have a staring contest and the buyer ALWAYS blinks first. Land O' Lakes may not provide the seller the same authority.

Your REALTOR will be able to advise you the lenders to avoid.
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Tue Feb 19, 2008
Gary De Pury answered:
Yve,
As a Land O' Lakes Broker I can tell you that.....Huh? What? ... Who said what about Lease Options.....???

Here is who is attracted to Lease Options....Everyone who sees the value in locking a place is at todays or tomorrows dollar amount while waiting to see what the market does.

Put yourself in the buyer/consumer shoes. (I prefer a nice golfing shoe or maybe deck shoe) You don't know what the market is going to do, so you "option" a property. You lock in a future purchase price with a contract which will expire in one or two years. If the property value goes up, you exercise the option and close, but if it goes south, you can just walk away leaving the seller in the same place.

I have done several Lease and/or Purchase options and here is what I have found. The Tenant takes mental ownership and begins to take better care of the property than a regular renter. They feel a tangible connection to the property and begin to repair small items that you would normally have been called to take care of. (I had a call about a year ago that the ice tray was empty)

What you must do is figure out what you believe the market is going to do. There are many opinions here on Trulia, but I have found that everyone above 30 who has seen this market before is pretty optimistic. There are a few young'uns who are screaming that the sky is falling...but then there always are.

Talk to your CPA, and any other decision makers in your home and if you need any advice, there quite a few qualified REALTORS here on Trulia, including yours truly.

Gary De Pury
Broker-Owner
Bay Vista Realty
Director, Florida Association of REALTORS®
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