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Home Buying in Orange Beach : Real Estate Advice

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  • Local Info2
  • Home Buying31
  • Home Selling0
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Activity 34
Sat May 2, 2015
Sally Grenier answered:
Are you asking as a buyer or seller? You should contact a Realtor in your area who can give you a better answer.

For agent commissions: Typically the seller pays the listing agency a commission (and that agent offers a co-op fee to a buyer's agent). So a buyer doesn't have to their agent's commission.

On top of commissions, a seller may have to pay title insurance, title company fees, county recording fees, HOA fees, etc. (again, this varies from area to area & state to state).

A buyer's closing costs include loan fees, title fees, county recording fees, HOA fees, etc. (again, your agent and lender should be able to give you an idea of what your closing costs will be.

Sometimes a buyer can negotiate and as the seller to pay all or part of their closing fees. A lot depends on the market conditions in your area. If you're in a seller's market, it's less likely a seller will agree to pay your closing costs. Or...they may ask for a higher purchase price and then agree to pay your closing costs.

Does this help?

Good luck!
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Sat May 2, 2015
Dan Tabit answered:
Rdabbot,
I wouldn't trust any answer you didn't get from an accountant licensed in Alabama.
0 votes 1 answer Share Flag
Fri Apr 10, 2015
Dave Harbour answered:
It seems to be an advertisement. I had an existing client contact me a few hours ago about a foreclosure on Perdido Beach Boulevard that was the same deal. I think there is a reason they don't provide a specific address!

Best thing to do is contact an agent. FYI, the ad you saw was for a lot in Bear point (where I live) and 1/4 acre or less residential lots run from about $40,000.00 to $75,000.
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Wed Feb 18, 2015
Dave Harbour answered:
I can't answer it all in here; there is a lot of information! But, most of the beach condo owners rent the condo out. In any decent rental program, even if you do it yourself, you should get about 10% of the value of your condo in gross rental income each year. Yes, it varies. Yes there are tax implications, good and bad, depending on your situation, and you should ask your cpa. The expenses may "help you", depending on your situation. You can depreciate the condo. Your CPA will know the current rules on all this.

So if you buy a condo for $300,000, you should be able to gross $30,000.00 each year. The cost of ownership includes your note, if you financed, the HOA dues and any assessments, insurance, electricity, etc. These things also add up to about 10% of the value of your condo each year.

The management company handles everything - marketing, booking, cleaning, maintenance and repair, and communication with you. The rates vary. The results vary.

I hope I've answered your question. I'm happy to talk about the condo market and condo ownership with you at any time! Just call me on my cell (251)233-3004.
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Thu Jan 15, 2015
Christine Esteves asked:
Sun Sep 21, 2014
Leigh McPherson answered:
Dear Lisa,
Different condominium associations break down fees in different ways. Most common way is to include the common area (building exterior, grounds, amenities) insurance in the monthly fee breakdown. Some associations, however, divide up fees and assessments differently. For example, some associations may levy an annual assessment to cover the insurance costs, since insurance can vary from year to year. This assessment can be paid in full, or it is often broken into parts. A Master assessment applies to certain complexes that may have more than 1 tower and that share amenities - The Beach Club is one example.
When I work with condo buyers, these are factors that I work in as we prepare our condo comparison sheet. I will be happy to provide specific fees for specific buildings. Just email or call me any time - 251-609-9994.

Leigh
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Fri Mar 21, 2014
Mary McNair answered:
I don't see a property referenced with your question. If you'll give me a call or send me an e-mail via my profile, I'll be glad to research it for you.
0 votes 1 answer Share Flag
Thu Jan 23, 2014
Niki Walker answered:
It will all depend on the furnishings, amenities available at that particular complex. I am the sales agent at the Caribe, which is located across from the beach. We are bayfront, and next door to the Perdido Pass Bridge. I am seeing that families are relocating from the beach to the Bay because we can offer more amenities such as putting greens, lazy river, fishing, boccie ball, basketball, 3 indoor pools, sauna, steam room, etc. all in one resort. We have a shuttle take you under the bridge to the beach. We offer bay or beach views depending on preference. Our best renters are the 2BR's and the largest 3BR's with media. It is going to depend on your marketing, pictures, furniture, and of couse, the complex. ... more
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Thu Oct 17, 2013
Ray Stevens answered:
Tammy,

Depending on how long your disability payments are due to continue, you can use that income, plus and extra 25%, to qualify for a mortgage.

If the disability payments are due to end soon, you will need a letter from your former employer showing the date you are expected to return to work. ... more
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Fri Oct 4, 2013
bobbygbrown51 asked:
Mon Aug 19, 2013
Virginia & David Coate answered:
Depends on your needs, Florida property taxes are significantly higher but Florida has no personal income tax and no sales tax on food items. Alabama has some of the lowest property taxes in the nation. There is a larger selection of homes & condos in Orange Beach vs. Perdido Key. You need to look at both and base your decision on what you see. ... more
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Sat Aug 17, 2013
Virginia & David Coate answered:
They do if they hold a Florida real estate license as my wife and I do. In all I would guess about half the agents in Orange Beach also work the Perdido Key market.
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Sat Aug 17, 2013
Virginia & David Coate answered:
My experience has been that December is the slowest month for me primarily because of the Holiday season. The 2nd slowest month is usually July for partly the same reason and also because all the condos are rented and it is difficult to get appointments to show the units. There are some years when the above has not been the case but over my 20 years of selling real estate that has been the trend for me. We usually sell more condos in the fall than any other season but I know other agents have different experiences as to the the season they sell the most. ... more
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Sun Jul 28, 2013
Catherine Mcinnis answered:
Our rental market is fabulous if you are renting, not so much if you need a nice rental. Very high demand here for rental units. I have sold several homes to people planning on retiring in 3-4 years, they wanted to buy when prices and interest rates were low. All have been very happy with the income they are deriving from their investment. ... more
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Sun Jul 28, 2013
Catherine Mcinnis answered:
baldwincountyrealtors.com is the public mls site, might want to search there. Or you can email me at catherinemcinnis@yahoo.com and let me know what you are looking for and I won't make you sign up! ... more
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Sun Jul 28, 2013
Mary McNair answered:
When it comes to utility availability, you need to research each property specifically, as some can be available on one street and not on the next because those property owners didn't agree to the assessments to run the lines. ... more
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Fri Jul 26, 2013
Mary McNair answered:
I totally agree to the previous advise. The age, condition and building materials in a home also come into play.
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Wed Jun 5, 2013
Mary McNair answered:
This property is under contract, so not currently for sale.

However, in case there's another parcel in the subdivision that might also interest you, my research shows that there are a few mobile homes already present on lots with the same zoning designation of RS-2.

Would you like help locating other options since this one is already progressing to a closing? If you're not already working with a Realtor, give me a call.
... more
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Wed Apr 10, 2013
Tesa Morgan & Team answered:
In my opinion, the better deal is the one priced at market with the most amenities that fit your needs. Lenders are well aware of the market and are pricing at market value. So are most other sellers so why not make an offer on the better deal for you. Whether it is a foreclosure, short sale or just a regular seller looking to get market value, the better deal is the one that fills the majority of your real estate needs at a price you are willing and able to pay. Trust the real estate professional involved to supply you with the required information to assist you with an offer. The market sets the price, not the lender's position. ... more
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