TOR 025: The As-Is Contract and What it Means to Buyers and Sellers

Hello and Welcome to the Top Orlando Realtor podcast, if you’ve been here before, we are happy to have you back.

I’m your host John Conde with ORC and today I’ll be talking about the “AS-Is” contract and what it means to both buyers and sellers and hopefully, clear up a few things...

These are some highlights from today.

Play the entire episode to hear the full version.

We’ve all heard the saying ” let the buyer beware”…

And that usually applies when someone buys something at a garage sale or craigslist and it basically means you’re buying it as is and the seller doesn’t take refunds…

So let’s say you buy a toaster for a dollar, you take it home and you find out it only makes toast on one side, well guess what?… you’re stuck with it…

Now… when it comes to Orlando Real Estate… The As-is contract has a whole different meaning and sometimes the seller tends to misinterpret exactly what “as-is” means.

For starters… It doesn’t mean that you’re allowed to withhold any adverse information about the house from a buyer.

As a matter of fact, It’s against Florida law and you can get in legal trouble if you get caught.

It’s called strict liability and it’s taken very seriously in the state of Florida.

If a seller is caught doing this… The buyer has the right to not only rescind the deal, but they can sue the seller for money damages that resulted from failure to disclose.

Now Let’s talk about What Sellers Don’t Have To Disclose

Like Murder….you heard me right. If a dozen people were brutally murdered inside of a home. the incident does not need to be disclosed by the seller…

Could you imagine buying a home, moving your family into it then finding out from a neighbor that it was the scene of a triple homicide a year ago?

So A couple of other ones here that you don’t have to disclose

– If the prior occupants had aids, don’t need to disclose it either…

– Any death not related to murder. So.. If someone died of an infectious disease …

Personally, I wouldn’t care about losing a deal in this situation… I disclose everything I know about a listing whether it’s required or not…

Buyers should always do some extra research before submitting an offer on a home…Especially if you plan on living there.

Deadly crimes are easy to research online through police websites, and newspaper sites.

So That’s it for today, I hope this information was beneficial to someone out there.

If so, please take a second to go over to iTunes to give us a review and a rating

To submit a question or topic to the show just head over to our website and fill out a contact form, we’ll do our best to talk about it on the show.

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Getting Ready To Sell? Update Your Kitchen and Bathrooms.

“Hello and Welcome everybody and if you’ve been here before, we’re glad you’re back! This is the podcast where we talk about anything and everything to do with real estate in Orlando.”

“Our listing clients always want to know what upgrades they can do to make sure they get top dollar for their home…”

“When selling your Orlando home to retail buyers, they don’t want to update, touch up, re-carpet, repaint,…”

The summary of today’s episode is below.  Just hit the “play” button to listen to the entire show.

“need to sell your home for top dollar,… then make sure that your kitchen and bathrooms are looking tip-top.”

“Let’s start with the kitchen…”

“The kitchen is a space where appearance and functionality are equally important….”

“90% of home buyers say having a nice kitchen is a huge factor when deciding on whether or not to submit an offer on a house….”

– “A full kitchen re-model usually doesn’t make sense when you get ready to sell…”

– “Start with some Painting- Slap on a fresh coat of paint to brighten up those dingy walls….”

-“Countertops- If you have the old school Formica countertops or old outdated tile, put down some…”

– “Fixtures- Get rid of those old chrome faucets you’ve had for the past 10 years and replace them with something…”

– “Cabinets- Getting new cabinets will cost you thousands, don’t do it if you don’t need to…”

– “You can make your cabinets look brand new by Staining them a different color or even painting them white…”

 Let’s talk about bathrooms.

– “Replace the toilet- Unless you can make your existing toilet look brand new…”

– “Vanity- think about staining or painting if you can…”

– “Same with the fixtures…If they look tired and worn out just replace them.”

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TOR 022: Loan Modifications Exposed!

Loan modifications have helped tens of thousands of Orlando homeowners to keep their homes in recent years. However, with Loan Modifications, you have to be aware of the fine print and know exactly what you’re getting yourself into.

Sometimes…terms of a loan mod are much worse than the original mortgage. They just try to sugarcoat it to make it look good.

Here’s a recap of today’s episode. Hit the play button to get the full scoop!

 5 things you should watch out for when negotiating a loan modification:

 1-“Your lender’s in charge of the loan, which means they have the option of dropping all penalties against you. Don’t be bullied….. “

2- “This may sound funny but it happens. Sometimes lenders try to get you to agree that if they lose the original loan docs, you must assist them in reproducing them….”

3- “Don’t agree to step by step rate increases or balloon payments…..”

4- “Don’t agree to payments you can’t afford. The whole purpose for doing a loan mod is….” 

5- “Don’t agree to an interest rate that can automatically adjust based on an index over which… “

” An Orlando Short Sale maybe your best option!”

  “By doing a short sale you’ll be free of your lender forever, and you can get enough cashback from the sale to get a fresh start.”

“If you’re interested in getting more information about loan modifications or short sales call us or visit our site to set up a free consultation”

“we’ll meet with you to discuss the details of your situation to come up with a plan of action that works best for you.”

“I hope this information was helpful to someone out there. If so, please take a moment to write a review and rate the show on i tunes, it would be greatly appreciated.”

“Please keep those questions coming, just visit the ORC site to submit a question or topic and we’ll do our best to talk about it on the show.”

“Thanks for listening everyone, we’ll see you next time!”

 

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TOR 019: Breaking Your Lease

On today’s show, we talk about how to get out of a lease agreement in the state of Florida.

Breaking a lease is completely legal in certain situations but you have to do it the right way. If not, you could get yourself in hot water both legally and financially. so you definitely want to avoid that.

In a lease agreement, There are laws in place to protect both lessors and lessees.

So… there are a few things you need to do before breaking your lease.

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1- Find out what your rights are– Read your lease agreement thoroughly,…

2- Keep good records…If you’re in a situation where there are safety issues involved,…

* Having proof is really important in case your landlord wants to take you to court.

* Health code and building code violations are public records in any state and are easily available online.

3-Be nice!- Once you find out where you stand…

If you find yourself in a situation like this and you need some help, give us a call or visit ORC to set up a free consultation and we’ll be glad to help you out.

Please take a moment to rate the show if you found it helpful and keep those questions coming,….to submit a question or topic just go to the ORC website and we’ll do our best to talk about it on the show.

Thanks for listening… see you next time.

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TOR 016: Top 5 Things That Kill Orlando Short Sales

I’m your host John Conde with ORC and it’s good to be back.

In today’s episode, I’ll be talking about the top 5 things that can kill your Orlando Short Sale in detail.

The top 5 things that can kill a short sale

1-    The bank refuses to short sell it

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2-    Stubborn Homeowners Associations

3-   2nd mortgages not giving enough of a discount

4-    The BPO Comes in Too High

5-    The buyers back out or can’t close

Listen to this episode for in-depth explanations on each of the 5 short sale killers

Thanks for listening folks, we’ll see you next time!!!

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