Lakeland Real Estate Information

There are some powerful techniques used by real estate agents that For Sale By Owner's (For Sale By Owner) can use to increase the chances of a successful closing of the sale of their property. 

First, the deposit must be substantial.  The deposit represents the buyer's confidence that he or she is going to be able to perform or keep their word.  If the deposit is $500, the buyer either has very little money or is not that serious about keeping his promise to perform and close.  The initial deposit should be 2% of the purchase price or more.

Secondly, sellers should make sure the contract states the deposit is non-refundable after the home inspection period (in two weeks).  Many buyers expect  sellers to give them until closing (approx 4 weeks) to get financing.  A financing contingency is synonymous with "if I can find someone to loan me the money".  Supposedly a prequalification letter from a lender means the buyer is getting the loan.  So, why have a long financing contingency in the contract that gives the buyer his money back if he changes his mind the day before closing or buys a new car?

Finally, if you are selling your property by owner and you currently live in that property, you must consider when you are going to vacate or move out.  Most contracts state the "Time of Possession" is at "Closing".  This means that you (as the seller) will be required to pack up your house in boxes, cancel your cable, your electric, and load your moving truck before you get your check at closing.  I have seen sellers drive their moving truck to the closing of their property and have to turn around, go back home, unload their truck because they packed their clothes first, have their power turned back on, and move back into their home because there was a one week delay with the buyer's loan that was not disclosed until minutes prior to closing.  Imagine if they had only had a 3 day post occupancy agreement.  This agreement (signed up front when they were still negotiating price) would have enabled the seller to wait to move out until they had their check in hand.

My suggestion is to hire an experienced Realtor.  However, if you must try For Sale By Owner, use these techniques to protect yourself.  www,LakelandForSaleByOwner.com

Two years ago selling your home on your own was a great way to try and save a little money in the selling process.  Many were successful, while others sold their home under market value.  If you are considering selling a property on your own today, there are some issues to consider that could make a difference in the outcome.

Buyers are convinced you should negotiate because the market is supposedly bad for sellers.  If sellers will have their home appraised prior to actually putting the property for sale, the price will be correct and not overpriced.  Buyers who have done their homework will recognize good value.  They will also know when a seller is asking too much.  In fact, pricing your home a little under appraisal is a great way to stimulate multiple offers.  Price your property lower and hold firm on the price.

Once an offer comes in, counter the offer "as-is".  You should not be doing repairs for the buyer.  The buyer will never be satisfied with the repairs you do yourself.  I have seen wood porches rebuilt by a sellers that were not satisfactory to the buyer.  I have seen sellers repair a leaky roof by smearing tar everywhere, which obviously was not acceptable to the buyer.  You (as a seller) would probably do the right thing, but the buyer still may not be satisfied.  So, sell your property "as-is" and let the buyer inspect the home as much as he wants.  If he doesn't like the condition of the home, deal with it.  However, make sure you sell it "as-is" so the buyer can fix it how he wants, after he moves in.  www.LakelandForSaleByOwner.com

It is amazing how markets can fluctuate.  This month the Lakeland Florida real estate market is moving again.  It is no longer easy to stamp good or bad on the local market.  Sellers are reacting to competition and motivation.  Buyers must know what they are searching for and know a good deal when they see one.  It is common to see two properties of similar quality in the same neighborhood priced similarly, but drastically different in size.  The price to square foot ratio for many similar properties fluctuates depending on the seller's motivations to sell the property.  It is more common to see a larger home down the street priced in line with smaller homes in the neighborhood in hopes of selling "next".  Once that larger home sells, the others may actually sell for a much higher price per square foot than the larger home.  Buyers should not assume that all sellers are going to negotiate below asking price.  In many cases the asking price is already a good deal.  Keep in mind that if you find a property for sale with multiple offers, the seller wins.  Also, keep in mind that many homes are priced high.  New construction has been given the area plenty of inventory.  Be responsible when looking to purchase or sell property.  Doing your homework is always important, especially now in the Lakeland real estate market. www.theboyceteam.com/property.asp

Real estate service has rapidly evolved during the past 10 years.  The concept of teams began in 1995 and has taken over in residential real estate.  Buyers and sellers are more likely to get better service from a team compared to the service of a single agent.

The Boyce Team in Lakeland, Florida, offers a housewarming party to their buyers free of charge.  When a buyer hires The Boyce Team to help them purchase real estate, the customer is asked to compile a list of their closest friends and family.  The Boyce Team sends out invitations to the customer's list and invites them to celebrate the new home.  The Boyce Team covers the cost of food, drinks, and desert.  The team also furnishes tables and chairs if needed.

The housewarming parties are usually a raving success with 20 - 60 guests in attendance.  The housewarming parties give the new owner a chance to celebrate their new home with close family and friends without any expense or difficult preparation.  The Boyce Team enjoys giving back to the customer and meeting new people.  Providing complimentary housewarming parties is one way The Boyce Team distinguishes itself from smaller real estate teams and single real estate agents.

When you think of staying is shape, you think walking around one of Lakeland's beautiful lakes or a treadmill at one of Lakeland's many fitness centers.  This type of exercise is good, but it turns out to be the same old routine that last for a few months and then gets boring.

I've been told recently that Velocity Sports Performance will open in Nov 2006.  This will be the advantage that the young and not-so-young will want to be in the best shape possible.  Imagine a young person having a little more speed that others, having a little more strength than the competition.  Imagine your golf swing improving or your golfing drives sailing a little further than thought possible.  Doing those things that others aren't doing can help you achieve the things that others aren't achieving. 

I am hearing that Velocity Sports Performance is going to change the lives of many in Lakeland.  I will post more information about this company in the following weeks.  Look for more information in the newspaper as well.

Just released in the area is a new system that allows home buyers and sellers to see what is going on in the real estate market throughout central Florida.  This system enables visitors to navigate by map to see real estate for sale in multiple cities.

Searches can be saved for future use by both buyers and sellers.  Sellers can use the system to track local sales in their neighborhood, providing useful information when determining the value of their own property.

Buyers will automatically be notified, through email, of the newest properties that match their unique criteria.  This new system is free to consumers and can be access at www.GoLakelandHomes.com.

Just released in the area is a new system that allows home buyers and sellers to see what is going on in the real estate market throughout central Florida.  This system enables visitors to navigate by map to see real estate for sale in multiple cities.

Searches can be saved for future use by both buyers and sellers.  Sellers can use the system to track local sales in their neighborhood, providing useful information when determining the value of their own property.

Buyers will automatically be notified, through email, of the newest properties that match their unique criteria.  This new system is free to consumers and can be access at www.GoLakelandHomes.com.

Consumers shopping for a mortgage are being targeted by companies claiming to have the lowest interest rates.  Some companies give consumers the impression that as soon as the loan application is made there will be a fight between banks to give the consumer the lowest interest rate possible.  Usually, there is not a fight, but it sounded good.

Be careful if you choose a mortgage company based solely on the interest rate.  Many mortgage brokers rely on advertising a low interest rate to attract consumers.  Mortgage brokers know that consumers are searching for the best deal.  The Internet is a playground for lenders to attract consumers shopping for a loan.  When shopping for a loan, consider the importance of being able to meet your lender face to face.  When the loan process gets stressful, as it always does, the consumer may want the opportunity to visit the lender in person to resolve the problem.  Visiting an Internet lender is not possible.

Consumers should be skeptical when they find an unrealistic interest rate.  Consumers should ask friends what a realistic interest rate might be.  Another wise choice would be to contact a reputable bank or national lender.  A local bank or national lender will be able to compete with the lowest rates and can properly advise those consumers who have questionable credit.  Another option is to ask your REALTOR® for help.  Your REALTOR® knows which lender, mortgage broker, or bank has the best interest rates and the best service.

Consumers shopping for a mortgage are being targeted by companies claiming to have the lowest interest rates.  Some companies give consumers the impression that as soon as the loan application is made there will be a fight between banks to give the consumer the lowest interest rate possible.  Usually, there is not a fight, but it sounded good.

Be careful if you choose a mortgage company based solely on the interest rate.  Many mortgage brokers rely on advertising a low interest rate to attract consumers.  Mortgage brokers know that consumers are searching for the best deal.  The Internet is a playground for lenders to attract consumers shopping for a loan.  When shopping for a loan, consider the importance of being able to meet your lender face to face.  When the loan process gets stressful, as it always does, the consumer may want the opportunity to visit the lender in person to resolve the problem.  Visiting an Internet lender is not possible.

Consumers should be skeptical when they find an unrealistic interest rate.  Consumers should ask friends what a realistic interest rate might be.  Another wise choice would be to contact a reputable bank or national lender.  A local bank or national lender will be able to compete with the lowest rates and can properly advise those consumers who have questionable credit.  Another option is to ask your REALTOR® for help.  Your REALTOR® knows which lender, mortgage broker, or bank has the best interest rates and the best service.