Wednesday, April 15, 2015 / by Chip Deacon
We've seen THOSE deals... You know what I'm talking about. The ones that are priced to steal; located in your target market neighborhood; where the tax-assessed value is WAAAY above what the List Price is stated.
So you ask yourself: What's wrong with this one? It can't be TOO bad, right? The Foreclosure Crisis is over and done with. No more middle of the day lock-outs, family strandings, angry & violent homeowners, right? RIGHT?
Ummmm WRONG! Anger doesn't Ebb when the Market Flows. As a matter of fact, tempers could run as high as the market because the derelict and neglected homes can't and won't command full retail value. Just like anyone in crisis, a desperate homeowner is looking for a way out. As an Investor or Owner Occupant or the Agent thereof, you need to show them the light at the end of their tunnel even if it means taking a new turn and turning on a different lamp AND walking with them part of the way!
Take the burden of repair off the table and off their shoulders immediately! This will also lower the offer, but you will emphasize that when you present your number. Ask them if there are any Code Violations or Fines open on the property. Research the property's status with the Building Department thoroughly while preparing an offer so you know for certain what's what. NEVER rely solely on the Homeowner In Crisis. This HIC could turn into serious heartburn!
When you consider looking at these "deals", remember to have your contractor on hand to do a down and dirty estimate for you while on-site. Bring along your "S-O-W" Scope Of Work form to complete so you don't have to commit the details to memory. This may not be the only work-intensive property you look at this week or even today!
Have you encountered any Haunted Houses? Had a Date with Disaster? Fell of a Femme Fatale? How did you resolve it finally? Would you enter Property Pandemonium again?
Join the conversation and let us know your stories of trepidation and SUCCESS!
We'd be honored to partner with you in your search for selected properties that meet your Investment Goals. Give us a call to discuss opportunities that can advance your goals of Wealth and Legacy Building for yourself and your Family!
CHIP DEACON, Broker-Associate
Cell: 941-302-8717 Off: 941-357-4031
The Extreme Home Selling Team
Keller Williams On The Water Sarasota
22 Links Avenue; Sarasota, FL 34236
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3. The Observer-Sarasota http://www.yourobserver.com/
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