Real estate transactions can go from straightforward to complex pretty quickly, especially when buying or selling a home that needs a lot of work, isn’t insurable as-is, or is part of a short sale or foreclosure. Working with experienced real estate professionals is critical to ensure you’re well-represented and can negotiate the best deals.
Selling and Buying a Home Requires Experienced Professionals
The team at Southern Exclusive Realty excels at complex real estate transactions that require micro-attention to the details and a fluid understanding of Florida real estate law. Our broker and agents are some of the most experienced real estate agents in the area, which is why we have hundreds of closed escrows – and satisfied clients – behind us.
Even something as straightforward as buying a home can become complex depending on your desired home. Therefore, we always recommend making expertise a foundational qualifier when choosing the best real estate agent.
Here are a few examples of the most typical scenarios that make for more complex real estate transactions.
1. Selling and Buying a Home at the Same Time
While much of the country is experiencing the first market downturn in quite some time, Volusia County continues to break home sales records (Redfin). This can make it tricky for clients interested in selling and buying a home at the same time. Buyers may be wary of contingency sales because they want to take advantage of the market while it’s still hot.
Our agents can represent you on both ends, streamlining the process and helping you make the right decisions in terms of the following:
- Setting your home’s sales price at a point that benefits you but helps it to sell quickly, so no contingency is necessary.
- Helping the sellers of the home you want to buy have faith that your offer will go through so they feel more confident if a contingency is necessary.
- Determining whether it makes more sense to move into a short-term rental so you can sell your home and buy the one you want without worrying about contingent contracts.
Whatever the case, our agents and their solid relationships within the local real estate network can make a huge difference in easing the complexities of your situation.
2. Properties in Short Sale or Foreclosure Status
The backlash from these past rocky and unpredictable years has caused an uptick in homes placed in a short sale or foreclosure status. Either one put your home – or the home you want to buy – into the complex real estate category.
If your current or future home is a short sale or in foreclosure, you must find an SFR Certified real estate pro to guide the process from start to finish.
3. Selling a Home in Probate
Things can get sticky if you’re purchasing a home in a trust or one moving through probate after the owner’s death. The benefit of buying a house in probate is that the home is typically priced to sell, which means you may get a better deal. However, it can take quite a bit longer for escrow to close, depending on whether the heirs/beneficiaries are in agreement or the speed at which the court moves the family’s probate case through their system.
Having a real estate agent who has handled multiple trust or probate sales/purchases in the past is a tremendous help. We’ll be able to explain everything to you as it unfolds, even if there are unexpected hiccups along the way (not uncommon in probate scenarios).
4. Anything At All About the House is Atypical
Things become more complex if anything about the house is “atypical.” As you may already know, real estate prices are ultimately “approved” by lenders – who want to see that they’re lending on a home that is comparable to other recent home sales in the general area. It can be harder for appraisers to find comps for an atypical home, which automatically complicates things for the buyers and sellers.
Examples of things that categorize a residential property as atypical include:
- The house is far smaller or larger than others in the same neighborhood.
- It doesn’t conform with current zoning.
- There are unique architectural or custom features.
- It was a mixed-use property (it was used as both a business and a home, beyond that of a home office or garage as a warehouse).
- Homes built with better-than-average or below-standard craftsmanship.
If you’re selling or buying an atypical home, you’ll want to find an agent adept at handling more complex real estate transactions.
Southern Exclusive Real Estate Handles Complexities With Ease
Does your real estate transaction fall into the more complex category? Not to worry. The Southern Exclusive Realty team knows exactly what to do to move you through the process with the best possible outcomes. Contact us to schedule a consultation, and we’ll make the experience as stress-free as possible.
