New Smyrna Beach Real Estate Property Information

A buyer agrees to your price and your house is finally under contract. The banks out-of-town appraiser comes in below contract price and the deal comes to a screeching halt. Will the buyer make up the difference? Will the seller accept the lower appraised amount? In March, 19% of closings faced this problem and the best way to address it is to prevent it: Buyer ask lender to use appraiser familiar with the area. Buyers agent provide comps & info to the appraiser. Sellers agent provide CMA to appraiser confirming value. Seller may obtain own appraisal & show to banks appraiser. If the appraisal still comes in low contest it with new or overlooked info. You may also request a second opinion. Tony DeCamillis, Realtor - New Smyrna Beach, FL Most Popular Kind of Homes: Single family homes, 3 bedrooms, 2 bathrooms. Least Stated Goal: Be part of a broader community. Buyers over 45 downsize before retirement. Buyers over 55 want a garage. Tony DeCamillis, Realtor - New Smyrna Beach, FL A condo owner recently told me he had to sell after the HOA assessed a $10,000 dollar, 3-year fee per unit for repairs to concrete balconies on the building. HOA fees may go up with inflation, unexpected repairs, inadequate reserves, or poor HOA planning. That HOA Fee Disclosure you received prior to closing may say there are no pending fee increases or assessments, but what if theyre about to be announced? Ask the HOA how increases and assessments are determined, how often they occur, and the history of such actions. Ask how large is the reserve fund, what it covers and what it doesnt, and get copies of HOA meeting minutes to see whats being discussed. The HOA fee normally covers the building so be sure there is adequate catastrophe insurance, and learn what your financial obligations are. Finally, be sure to include these expenses in determining return-on-investment and cash flow if it will be used as a rental property. Tony DeCamillis, Realtor - New Smyrna Beach, FL 2016 home sales in the US are at the highest pace in 9-years, and ...