Life In Bonita Springs

Don’t Fall For Rental Scams in Bonita Springs

A few days ago I had a the opportunity to show a beachfront condo on Bonita Beach. It was a beautiful penthouse unit, top floor, in one of the Casa Bonita Condo Buildings.  There was nothing unusual about the showing but a little serendipity a day later.

I received an email from a real estate consumer. It wasn’t a buyer but a person who was intending on renting during the winter months and had found something “by owner” on the internet. He had done some diligence on his part before sending money and realized that the person who was acting as the owner and requesting the wire had a different last name then the owner listed in the tax roll. When he reached out to me I put him in touch with the listing agent and explained that the condo fit the profile to rip someone off:

• It was new to the market.
• Beautiful unit, great photos.
• Listed for rent below market value to induce someone to “hop on it” before it got away.

Every year we see reports of people who get to Bonita Springs, Estero, Naples or Fort Myers and go to the home or condo they thought would be their rental only to find a new owner living in the home.  The new owners know nothing about the situation and sympathize but it was a con job and they weren’t involved.

Fortunately, the man who called me did a little snooping and was able to save himself the heartache and the fleecing of his hard earned money.

If you’d like to learn more about real estate scams in Bonita Springs, read also:

Real Estate Internet Email Scams and Who Owns That Bonita Springs Rental?

You can also cross check owner names at www.LeeTC.com and www.LeePA.org. 

Being a Listing Agent Should be Sewer-Free

Yesterday was one of those days where I worked all day but feel as if I got nothing done. I literally spent the day watching plumbers bent over toilets.  Several of my friends who are in Orlando, Florida at the National Association of Realtors Conference barraging me with texts like, DRIVE UP NOW! or why aren’t you here?  My last correspondence to them yesterday was, Hi ladies, I’d rather be visiting with you all but I thought it would be so much more fun to stare at plumbers butts all day.  Ah, the glamorous life of a listing agent.

This is the part that most home sellers or probably even most consumers don’t realize.  Bonita Springs is a destination location and many of our home owners do not live here.  Someone has to meet the trades when something goes wrong or to have the repairs completed from a home inspection. Someone has to do the dirty work and it’s usually me. Yesterday’s dirty work just happened to be involving plumbing. One of the properties even needed a camera run through the pipes from toilet to street to make sure there wasn’t a blockage. 

I reaffirmed a few things as a listing agent.  First, plumbing repairs are not inexpensive.  It’s a nasty job and those guys have to touch some gross stuff.  Second, big trees such as banyan or ficus trees are destructive and that is why HOA’s limit tree planting and why certain varieties of trees are prohibited. Third, there are cockroaches and various other critters living in the sewer plumbing even at the prettiest houses.  So … putting plastic wrap over your toilet and having a home watch person make sure that the water level in your toilet bowl and sink traps doesn’t dry out is a must. (please tell me you have a home watch person if you’re an absentee owner) Wild kingdom lives in the sewer drains under your home. I saw it with my own eyes. Trust me, you need to monitor that situation. I’m hoping I don’t have nightmares from it.

Today’s another day.  This listing agent is hoping that it isn’t nearly as glamorous as it was yesterday. 

Bonita Springs Limited Service & FSBO Challenges 

The value of a good Bonita Springs listing agent is often over looked by some home owners and I struggle to understand the basis, sometimes. My best guess is that the average consumer doesn’t understand what a good real estate agent actually does and the fact that getting a Florida real estate license is fairly easy so many newbies do it poorly.  The profession, as a result, is a huge failure/drop out rate.

Recently, I was in a class and had to rely on Angela  to run a few of the last minute errands prior to activating a listing in the MLS.  She had her friend, Kim, with her that afternoon and by the time they had finished their running around Kim had actually reached the conclusion that nobody understands what it takes to properly get a home onto the market, staged, cleaned, photographed, measured, etc. 

It’s true, there is a lot to do when listing a home is done correctly. Watering down the value of the profession is the ease of getting a license and the fact that, well, because a large segment of the population things that  you just put the home for sale in the MLS and wait for it to sell.  Most experienced listing agent also bristle when they look at the MLS and see a property over priced or even under priced because a new agent doesn’t understand inventory and absorption of the current homes for sale.

Recently, a property that I have been following has listed for sale. I did not interview for the job. I just happened to know that the home owners had a few personal issues and it would be coming onto the real estate market for sale.  One of the home owners had decided to get a real estate license to sell it themselves.  When I saw it activated in the MLS I had expected to see the owner had listed it but instead it was listed with a flat fee discount establishment.  This should be interesting to watch.  That old saying, ‘you get what you pay for’ may ring true. 

I’m not sure the listing fee of a couple hundred dollars is going to make up for the fact the home owner is negotiating (and the point of contact) to get into the home. You can’t purposely design a more uncomfortable and awkward situation for home buyers and even buyer’s agents.  They are generally clingy and chatty and under foot during showings instead of letting the buyer experience the home.

As a buyer’s agent I know that when I show or write a contract on a FSBO or a limited services listing I am basically being leveraged by the inexperienced home seller who doesn’t understand the process nor do they have the proper paperwork in order to legally keep the contract intact.  I’m basically doing the listing agent job for free as every step of the way I must educate the home seller on every aspect of the process, negotiate with them and obtain their signature on any documents. Of course, I do that for my home buyers because they want the home so badly.

Now, not all buyer’s agents will do that and it would be very easy to become embroiled in a contract where the buyer can walk away from the contract, the buyer would also, legally have their deposit refunded to them because there aren’t very specific disclosures signed which are required under Florida real estate laws.  There are no supplements hosted in the MLS for the particular home. Watch this: HOA Summary Disclosure.  There also aren’t any Seller’s Disclosures, you know, the cover-your-butt document for home sellers nor any other popular document such as Flood Insurance Addendums or mold riders. 

So, I will continue to watch this Bonita Springs home for sale to see what happens. There are actually decent photos of the home (not iPhone photos).  Unfortunately, I know it is an uphill battle for this home owner. The home is quite beautiful and located in an equity golf community and there only five homes for sale in the general price point of the home.  However, the fact of the matter is that the absorption rate for this neighborhood alone, in the price range of the home for sale is five years of inventory. FIVE YEARS OF INVENTORY.  That, right there is the that kind of insight and education you do not get from a newbie agent or from being your own real estate agent. It might also explain a few of the low ball offers that will coming their way, too.

Limited service listings aren't inferior. You know exactly what you pay for.  You give $X dollars for "this list of items" to be performed. It's just that some of the most crucial items most Bonita Springs home buyers need aren't on the list of services available to home sellers.

If you’d like to learn more about selling your home, full service, in the Bonita Springs or Estero, Florida area call or text Chris at 239-273-7430. Chris Griffith is an experienced listing agent and a Certified Residential Specialist.

Buyer & Seller Real Estate Settlement Procedure

Today, I fielded a few emails to line up a closing as the buyer’s agent side of a transaction in San Remo at Palmira.  The emails were from the title company and the closing agent was lining up the time for the buyer and the seller to sign their settlement statements and closing documents. 

This isn’t generally of event but this closing was happening in Naples, Florida and the property and the home buyer were in Bonita Springs.  For about the fifth time this year, the title agent arranged for the seller to come in and sign on the day of closing, one hour AFTER the buyer signs. 

I get it. They’re just shuffling papers but follow me on this, if the buyer signs at 9:00 a.m. and the seller signs at 11:00 a.m. they buyer is left sitting in a lobby, a car or wandering Costco while they wait for the seller to arrive to sign and the transaction to fund.  Only after that are they able to get the keys to their new home.

First, the seller has had *weeks* to sign their closing documents.  Real estate closings happen all the time so the title company could have had the seller sign the day before, a week before, and if the seller was going to be in China at the time of closing, even a month before. It can happen. I recently sold my own home and was going to be in Seattle when it closed so I signed my deed and settlement statement nearly a week in advance.

Second, for title companies to inconvenience any party by not knowing how to stack the signers is stupid. There I said it.  Real estate 101.  What they are doing is like putting underwear on over pants.

Third, had I not been both an experienced listing agent and a experienced buyer’s agent my buyer would have been reading a stale copy of Good Housekeeping in the lobby of a title company waiting for a seller to show up to sign.

If you’d like to learn more about buying Bonita Springs real estate, selling Bonita Springs real estate or what happens during the process contact Chris or Angela at 239-273-7430.  We’re experienced listing agents and buyers representatives and we know how to get property closed with less hassle.

Where do Bonita Springs home buyers come from?  As a listing agent in the Bonita Springs area I have preached the value of great internet presence to home sellers since early on. I was one of the first real estate agents in Bonita Springs with a website so I am keenly aware of how buyers use the web to house hunt. Add to that using analytics to track behaviors and even locations and you can learn a lot about how a potential home buyer will search for homes in Bonita Springs and even find your home for sale online.

Tracking Home Buyers For Home Sellers

It may or may not surprise you to know that home buyers are searching online for homes for sale in the Bonita Springs area from locations all over the world.  The internet is the great leveler in advertising and it is the most effective both in reach and cost. Home buying consumers are mostly located in the United States and are from the states listed below. I will throw in the caveat that some searching from Florida could be visiting town already.

1.   Florida

2.  Massachusetts

3.  New York

4.  Illinois

5.  Ohio

6.  New Jersey

7.  Michigan

8.  Pennsylvania

9.  Minnesota

10. Connecticut

Most analytics can show a ‘heat map’ of where the real estate buyers are searching from plus there is an ability to drill down to city level, also.  Most home sellers do not know there is this technology available and many listing agents in Bonita Springs do not have a thorough grasp on web activity to keep an eye on it. 

I thought you’d like to know where the person who buys your home might be searching from. That might be an important question to ask listing agents when they interview to list your home for sale.

To learn more about Bonita Springs real estate websites and how they can help you sell your home, call or text Chris Griffith at 239-273-7430.

Real Estate Agent Finders & Directory Tips

Since I manage and write for my own real estate website, LifeInBonitaSprings.com I pay fairly close attention to the search results in Google for some specific terms.  Periodically, I see a website pop up in the paid results for real estate related terms related to Bonita Springs, Estero, Fort Myers or Naples. Today one of the sites was a “help you find an agent” website which in my opinion is a “how to scrape a buck” website.

Here’s how it works: You’re a real estate consumer and you decide to Google something similar to, Bonita Springs buyer agent or Bonita Springs listing agent. At the top of the search engine results page are paid results.  When you click on the link denoted as an “ad” it will take you to a website with a forced registration so that they can “help” you find a real estate agent or Realtor in the area in which you are searching for a home or condo to buy or sell.

In theory, there is nothing wrong with a referral for a home sale or a purchase. They are actually important and helpful, if done correctly.  I have past customers and clients ask me for help all of the time; for themselves, their children or their parents when they are experiencing trouble or having a hard time hiring just the right real estate agent. 

The difference between a real estate agent  that who you know helping you find a suitable agent and a directory helping is that often times the directory is just selling the lead or giving the lead to an agent who has paid to be on the list.  A referral from a real estate agent generally involves researching their experience, designations such as a Certified Residential Specialist and a phone interview to see, as my father would say, just how bop they are.  Trust me, I can tell from a five minute conversation if they’re on their game and ready for a referral to one of my past real estate clients.

So today, I tested the theory and signed up for one of the paid sites.  They don’t claim to be a real estate agent just to help find you one.  Basically, a webmaster with a real estate license that will try to scrape anywhere from 25-50% of the referral agent’s commission.

As a consumer, you should know so that you can perform your own search for a qualified Bonita Springs Realtor or real estate agent instead of just getting dealt a random agent from a directory.  Directories and websites like Realtor, Zillow and Trulia aren’t necessarily bad, it’s just that what you get served to you as a real estate consumer isn’t necessarily what you may need and judging quality or experience could be challenging. A little bit of research, may serve you well. 

If you’re looking for a tutorial to find a Bonita Springs listing agent you can start by learning the best way to find a listing agent to sell your home. I’ve written quite a comprehensive series of articles, here: Listing & Choosing a Bonita Springs Listing Agent.  If you have questions, call or text Chris Griffith at 239-273-7430

After The Sale of Your Bonita Springs Home or Condo

There are a few events that occur after closing that some home sellers do not think of.  First, the home seller will turn over all keys and amenity fobs to the new owner. You may find something relevant or important, post closing, that you would like to share with the buyer so contact your listing agent to have them deliver it to the buyer for you. 

The title company or real estate attorney will be wiring proceeds from your sale to you. Due to fraud most title companies will only wire funds so you will need to provide your account numbers and routing numbers to them prior to closing.

The title company will send you all of the completed documents by email and/or snail mail.  You or your listing agent will need to send a copy of the closing papers or settlement statement to your insurance company to cancel the homeowner and/or flood insurance policy. You may need it to cancel utilities in some circumstances.  Last, your CPA will need the settlement statement for your tax return so keep it handy.

There is always something new on the horizon and most listing agents can’t keep up with the latest scams so here is the best advice for any home seller or even a home buyer: Should you receive any correspondence that requests money or reads that you have to order something or pay something back that involved the home sale,  contact your listing agent before any money leaves your hands.  The title companies have made sure that all of the accounts related to the home were closed, bills were paid, liens were released. It is their job and they rarely make a mistake.

Just remember that there are all sorts of things fraudsters try to do to separate good people from their hard earned money so remember to always ask the listing agent to double check whatever it is before you send any money, wire or give gift card numbers.  For example, read also: Record Transfer Service – Real Estate Scam or Not?

If you have pointed questions about what to expect after you sell your home contact Chris Griffith at 239-273-7430. Chris is an experienced listing agent in the Bonita Springs, Florida area  and Certified Residential Specialist.

Mail Away Closing in Bonita Springs Florida

Whether it is due to distance, poor health or a scheduling conflict many Bonita Springs home sellers and even home buyers do not attend the closing.  Ask your listing agent and you will learn that the majority of closings are unattended by either party.  Both buyer and seller can sign their documents by “mail away” using over night delivery.  In order to close by mail-away the seller may have to find a local notary to endorse the documents.  The seller will be required to provide proof of identification, as well.

Another work around, if a seller is out of tow is that the listing agent can make arrangements for the home seller to sign their closing documents in advance by several days.  The final closing figures for sellers are often completed  early enough for a seller to visit the real estate attorney or title company prior to the closing date to sign the documents.  Signing in advance is helpful for home sellers who will be leaving town because their furniture and contents have been moved or those who may be upsizing or downsizing.  If they are having simultaneous closings it is convenient to close the first property days before so that the seller can concentrate on the “buy side” of their replacement real estate transaction.

Experienced listing agents can help you coordinate a closing or to sign in advance if it is helpful to your exit plan.  If you would like to learn more about attending a closing or signing your closing documents in advance or by mail away, call/text Chris Griffith at 239-273-7430. Chris is an experienced listing agent and a Certified Residential Specialist in the Bonita Springs, Florida area.

Possession Date of Your Bonita Springs Home

Your listing agent can help you understand all of the critical days, dates and time as it relates to the sale of your Bonita Springs property. Unless otherwise negotiated, the day of closing belongs to the buyer. The seller’s possessions must be moved out of the home before that date, unless otherwise negotiated.

A day or so before the date of close the buyer’s agent will accompany or in the place of the buyer perform the final walk through to check the condition and contents of the property. The seller’s possessions may still be on site at that time.  The check of the final condition may also be a check of final home inspection repair remediation, as well.  Seller’s are responsible to keep the real estate in the condition as seen on the day that the contract was agreed upon and they are also responsible to keep the utilities on; typically Florida Power and Light and Bonita Springs Utilities for water and sewer.

On the day of closing or the day prior, the listing agent will be turning over the keys to the title company.  The buyers will have possession to the home or condo as soon as the documents are signed and the funds have been received.  The closing documents may be arriving by mail or have already arrived prior to the closing date so closing could be as early as the time the title company or real estate attorney office is open.

If you are considering listing your home for sale and have questions about the date of possession or date of vacating contact Chris Griffith at 239-273-7430 to learn more negotiating a different occupancy date than the date of closing. Chris is an experienced listing agent and a Certified Residential Specialist in the Bonita Springs, Florida area.

Contract to Closing Time Frames in Bonita Springs

In the Bonita Springs area most contract to close scenarios range from thirty to sixty days. Many real estate consumers may have seen the cash buyers on real estate reality TV shows casually throw around rapid closings in a week or less.  It could happen but in the Bonita Springs area it is not likely.

Thirty days is generally needed in order for the home inspections and application to the homeowner association – back ground checks to be completed in order to close the home or condo. Bonita Springs is about seventy-five percent gated and deed restricted so applications to join HOA membership are usually necessary.

If a buyer is obtaining a mortgage they may need thirty to sixty days to process the mortgage and get it through underwriting. The appraisal process alone takes a few weeks plus add to that the completion of the underwriting process for the mortgage and any potential home inspection related repairs and you get an idea of why the reality TV approach isn’t likely in the Bonita Springs area.

Real estate is very unique and if you are a home seller who is considering listing your home for sale know that your listing agent can help you coordinate moving or closing dates to accommodate your needs. There are times where a longer or shorter closing can be negotiated.  There are also home buyers who allow the home seller to lease the property after closing, for example, if they are building a new home that isn’t quite finished or if there are children finishing the school year.

The long story short is that contract to closing is a case by case and can be negotiated. If you communicate your needs with your listing agent you should be able to agree to a comfortable timeframe for you and your family to close sale on your home.

To learn more about the current market conditions and how that may effect your closing time line contact Chris Griffith by text or call 239-273-7430. Chris is an experienced listing agent in the Bonita Springs, Florida area and a Certified Residential Specialist.