Xanax For Sale

Miami FL Real Estatelistings

There is a huge glut of real estate on the market right now.

You are in the driver’s seat.

The seller needs your money more than the you need the seller’s house.

They key is to avoid paying more than fair market value for the property.

The way that you avoid paying more than fair market value for the property is to hire an attorney who specializes in real estate law and represents your interests, and a real estate appraiser to represent your interests. This is not the lender’s appraiser.

Your appraiser should be a Member of The Appraisal Institute (MAI designation)

Tell the appraiser that you are hiring him to give you a second opinion on buying a piece of property so that you do not pay too much.

Tell the attorney that you are hiring him to protect your interests and in particular to protect you from the seller’s real estate agent or REALTOR.

Instruct your atttorney to write your offers for you and to include language that makes your offer contingent upon the appraised value of the property as determined by your real estate appraiser, not the lender’s real estate appraiser.

Also instruct your attorney to include language that makes your offer contingent upon your approval of inspection reports which should include at a minimum a roof inspection, a termite inspection a property inspection and a mold inspection if the termite report discloses water damage.

The contingencies should be for a period of at least 21 days and should also include language that your contingencies are only removable by you in writing and not by the passage of time.

The seller’s REALTOR will probably want to limit the inspection periods to ten days and will want to have the contingencies automatically expire after ten days.

This is a trick that REALTORS often pull on unsuspecting buyers. the REALTOR knows that you cannot get inspectors out to the property and written reports back in 10 days. The REALTOR knows that your contiingency period will have expired before you get your inspection reports back.

That way if there is something that you object to, the contingency period has automatically expired and it is now too late for you to object.

When your appraial report comes back at a fair market value that is less than the amount that you oridinally offered on the property you are to offer the seller two choices:

1. The seller is to agree to reduce the contract price to no more than the fair market value as determined by your appraiser ..or…

2. Agree to cancel the contract and direct the escrow company to return your deposit to you.

With reapect to the inspection reports, I recommend that you give the seller two choices:

1. Do all of the repairs in suffiient time prior to close of excrow that you can get your inspectors back out to reinspect and determine that the repairs have been made… or..

2. Agree to cancel the contract and direct the escrow company to return your deposit to you.

If you will follow these instructions you can buy a house at fair market value and you will be safe from paying too much for the house or getting a defective house.

Congratulations on your next house!!!!