Real Estate Nightmare
Posted by Tim Shepard - Broker on
This real estate nightmare involves two sales of the SAME HOME on the SAME DAY, combined with some sloppy paperwork by the Title Company. Subsequently, the whole thing fell apart, just like a house of cards. I'm not trying to scare anyone, but really felt that this story needed to be told. It's something that home buyers, sellers or other agents need to be aware of.
The First Deal
After looking at several Destin homes, enduring inspections, appraisals, and lender related delays, our buyers were excited about closing on their new home last Friday. Everything went smoothly as buyers and sellers both signed their respective paperwork, the lender authorized funding, and the title company began disbursement.
We picked up our check on the following…
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Although slightly down from May, Destin home sales in June 2016 reflected an active market with almost $23,000,000 in sales volume. The average price was $658,345 and houses closed at an impressive 93% of asking price. 708 single family homes were sold in the Emerald Coast area for a total volume of $285,426,540. The average sale price was $403,145 with homes selling an average 98% of their asking price.
New homes are coming to the upscale development of Watersound Origins. This sought after South Walton community in Watersound FL will be adding 107 new lots that are expected to be available next summer. Situated next to the activity center and close to parks and the Village Commons.
Sold: 05/10/2016 $425,000 | MLS #751262
If you're planning on a real estate purchase in the near or distant future, it might be worth taking a look at your bill-paying habits. You might be rewarded for your good behavior. When it comes to credit, are you a "transactor" or a "revolver?"
Part of our service as realtors is to play matchmaker for our clients. Once we have a good idea of the type of home or condo a buyer is looking for, then we use our knowledge of the area and the local market to find the perfect match.
During peak seasons, including spring break and April, experienced Destin Realtors understand that vacation homes and condos must be shown to buyers between 10:00 am and 2:00 pm. This time frame, called the "turnover", is when the property is vacant as last weeks guest leave and next week's new renters arrive.
