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Old 02-13-2013, 06:49 AM
 
23 posts, read 21,524 times
Reputation: 18

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Good morning,

Well, in my other post, plans were to come down to Bradenton and locate a nice RV park for a fifth wheel, We came, saw, and decided to purchase a home. We are both handy, as far as rehabbing goes. We want a house, nice district, with no MAJOR rehab involved.

My brother lives on 26th Ave Dr West. We will try to locate near him, and pay him to mow grass, when we return to Ohio. :-)

I am puzzled by the housing sales in Florida. Is there a law that all sales go through a realtor???? Where I live, you can drive through neighborhoods and see for sale by owner signs....in Fl, it seems everything is a short sale, foreclosure sales.

I would love to see the house I want, pay cash, and get the deed!!!!

Am I missing the big picture???
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Old 02-13-2013, 09:43 AM
 
Location: Fort Lauderdale, Florida
11,936 posts, read 13,166,550 times
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Quote:
Originally Posted by dalehorn View Post
Good morning,


I would love to see the house I want, pay cash, and get the deed!!!!

Am I missing the big picture???
Yes, realtors work very hard. Use one. Better to be on the safe side.

Congrats on your move!
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Old 02-13-2013, 09:52 AM
 
Location: North Port, FL
137 posts, read 332,271 times
Reputation: 88
Hello Dalehorn,

There is no law in Florida that says you must use a Realtor, and there are homes for sale by owner. But using a Realtor on the buy side doesn't cost you anything. Why wouldn't you want a licensed professional with experience and knowledge about contracts as well as negotiating working on your behalf, if it doesn't even cost you to do so?
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Old 02-13-2013, 01:47 PM
 
37,313 posts, read 60,057,958 times
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FYI--using a realtor as a buyer does cost you even though the cost might be hidden in the overall price of the house...
anyone trying to sell a home is ALWAYS trying to get enough to cover the realtors' fees and still leave a profit to the seller...

Some people try to get realtors to negotiate their fees at times during the selling/buying process if there is sticking point about what the buyer will pay..what the seller must have to make closing...
sometimes realtors will reduce a fee...

we sold house recently (in TX) to woman whose mother was her realtor. Mother signed disclosure disclaimer that she was not taking any fee for her service...which meant her daughter got a better deal at closing since she rebated her fee (whatever her agency didn't take) back to her daughter...

I agree that as someone who is not familiar with the area you are better off using a good realtor to help with your purchase than going it alone...FL is just a weird state for insurance if nothing else...
but you as a buyer ARE paying those realtors' costs because they are included in the sales price of the house you are buying...the realtor always gets paid...
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Old 02-13-2013, 03:00 PM
 
Location: Lakewood Ranch, FL
5,662 posts, read 10,780,225 times
Reputation: 6950
I'm just curious. Are you saying that in your part of Ohio, most sellers are selling without an agent and most buyers just knock on the door and, if they like the property, they write up a contract and pay cash? I know different parts of the country have different norms but that seems very unusual to me.
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Old 02-13-2013, 06:42 PM
 
23 posts, read 21,524 times
Reputation: 18
Sorry, I suppose I was vague, as to my point!

I don't "mind" using a realtor, I was speaking, more, to the "type of sales". There are so many short sales and foreclosures. I am aware of the housing crisis in Fl, so that probably is the consequences.

We looked at several homes, along with a realtor, during our stay. To purchase 3 out of 8 homes, we would have had to submit a bid. In Ohio, and I would think most places, you find a home you want, you know the price, you pay the price, or not.

It seems, to me, there is such a wait, perhaps a hold-out, for a better price. Homes are listed at one price, but that isn't the "real" price.

Perhaps this is how home sales are done, all over the country?????
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Old 02-13-2013, 07:43 PM
 
Location: Fort Lauderdale, Florida
11,936 posts, read 13,166,550 times
Reputation: 27080
Quote:
Originally Posted by dalehorn View Post
Sorry, I suppose I was vague, as to my point!

I don't "mind" using a realtor, I was speaking, more, to the "type of sales". There are so many short sales and foreclosures. I am aware of the housing crisis in Fl, so that probably is the consequences.

We looked at several homes, along with a realtor, during our stay. To purchase 3 out of 8 homes, we would have had to submit a bid. In Ohio, and I would think most places, you find a home you want, you know the price, you pay the price, or not.

It seems, to me, there is such a wait, perhaps a hold-out, for a better price. Homes are listed at one price, but that isn't the "real" price.

Perhaps this is how home sales are done, all over the country?????
People from all over the country are flocking to Florida because they want to live here. Ohio isn't that desirable of a state.
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Old 02-13-2013, 08:35 PM
 
17,581 posts, read 39,278,963 times
Reputation: 24416
Quote:
Originally Posted by blueherons View Post
People from all over the country are flocking to Florida because they want to live here. Ohio isn't that desirable of a state.
Yup, it's the law of supply and demand ^^^. Big demand here, short supply.
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Old 02-14-2013, 06:06 AM
 
23 posts, read 21,524 times
Reputation: 18
Blueherons and Gypsychic,

Thank you both, I see now!

Supply and demand!!!!!
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Old 02-14-2013, 06:29 AM
 
Location: Lakewood Ranch, FL
5,662 posts, read 10,780,225 times
Reputation: 6950
With a short sale, you come to terms with the seller and the seller takes the contract to their lender to get them to agree to take a loss on the loan and to give up their mortgage rights. Some organizations are quick to process the request, some are not. Some sellers are legitimately qualified for a short sale through some form of financial hardship and some are not. In some cases the lender may believe that they are losing more money on the deal than they need to so they come back and insist on more before agreeing to the loss. Or, sometimes there are two or more loans on the property and that can be a problem. This is the same in every part of the country but Florida probably had more than most over the past few years. Now, they are actually a very small portion of the market. With bank owned properties, we are seeing multiple offer situations (supply and demand) where the banks often end up selling the property for more than the listing price.

I realize this can be an annoying reality of the market but it actually indicates that property values are making a comeback and, considering how long it's been since that happened, it's a welcome change.
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