We complete the story where the MLS data sheets stop.
The MLS data sheets are great at helping sort through the hundreds of listing available. Once you have targeted in on a piece of property what else to you need to know to make it a knowledgeable decision? The information NOT in the MLS is where the small print and the "gotchas" hide.
Here is part of the list of what you need to know:
Who is the seller?
When did they buy the property?
What did they pay for the property?
What was their mortgage at the time of purchase?
What is the county's assessed value?
What are their current property taxes?
What inspections do you need to have done?
Are there current or pending liens or assessments?
What is the financial condition of the association?
If it is a short sale what is the estimated time to close?
If it is a foreclosure when does the one year right of redemption expire?
What price did the bank pay for the property on the courthouse steps? This is call the "Bid" price.
How long has it been on the market?
Has there been any price changes during this time?
What are comparable nearby properties?
What has sold and what was the spread between asking and the sold price?
What is the rental history of the property?
Who is the rental company?
What does it take to bring the condo up to speed in rental income?
What binding agreements are there between the current rental company and a new owner?
What concessions will the seller make to get the property sold?
Is the agent you work with willing to take the time and make the effort to get the above information?
Will you give our team the opportunity to be the only REALTORS here you will ever need?
We are the Gulf e TEAM, the most internet connected group of REALTORS here on gulf coast.
RE/MAX of Gulf Shores
Gulf Shores, Alabama 36542
1 800 686-4005
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