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All Forum Posts by: Sam S.

Sam S. has started 8 posts and replied 18 times.

Post: Seller's closing cost/items for Vacant Land Sale in Florida

Sam S.Posted
  • Homeowner
  • Montclair, NJ
  • Posts 18
  • Votes 2

Thanks Laura.

Post: Seller's closing cost/items for Vacant Land Sale in Florida

Sam S.Posted
  • Homeowner
  • Montclair, NJ
  • Posts 18
  • Votes 2

Thank you Dwayne and Darin.

Im not well versed in this area. I will research more on the FAR/BAR contract.

Thanks for the itemized description. Yes need to be careful for the title search/insurance fees.
How do I know if my vacant land is not an improved parcel of land? Should my tax bill indicate this?

TIA

Post: Seller's closing cost/items for Vacant Land Sale in Florida

Sam S.Posted
  • Homeowner
  • Montclair, NJ
  • Posts 18
  • Votes 2

Its a QTR acre property in Charlotte country. Not a huge amount.

Good that Title company can do the closing for the seller. No lawyer...

I want to know items like:

RE commisiion including buyer's agent commission

Any agency fee? why?

Prorated taxes (I understand this part)

what other items that i should see on my closing bill?

Please advise

Post: Seller's closing cost/items for Vacant Land Sale in Florida

Sam S.Posted
  • Homeowner
  • Montclair, NJ
  • Posts 18
  • Votes 2

Still trying to sell my vacant land. Talking to a few agents.

Can someone guide me on the seller's closing cost details? 

Do I have to have a lawyer for closing since this is a vacant lot? What are the downsides? What are the "watch outs" in the contract?

Please advise.

TIA

Post: Sell property/vacant land in Port Charlotte, Florida

Sam S.Posted
  • Homeowner
  • Montclair, NJ
  • Posts 18
  • Votes 2

Jon, can you give me a few names (Flat fee MLS) to start with?

Post: Sell property/vacant land in Port Charlotte, Florida

Sam S.Posted
  • Homeowner
  • Montclair, NJ
  • Posts 18
  • Votes 2

Post: Sell property/vacant land in Port Charlotte, Florida

Sam S.Posted
  • Homeowner
  • Montclair, NJ
  • Posts 18
  • Votes 2

Thanks all

Scott, Great info. Thanks

Post: Sell property/vacant land in Port Charlotte, Florida

Sam S.Posted
  • Homeowner
  • Montclair, NJ
  • Posts 18
  • Votes 2

Hi,

I bought a property/vacant land in Port Charlotte quite a while back. Didnt know much about the area. A friend at work convinced me to make an investment.

The land is on a canal. Paid a descent price back then. Since then the price dropped.

Now that I'm approaching retirement, I need to sell this property myself.

Can someone tell me the most effefctive way to sell property in Port Cahrlotte as FSBO?

Please advise.

Thanks much.

Post: First time seller - Using Rex for selling my townhouse?

Sam S.Posted
  • Homeowner
  • Montclair, NJ
  • Posts 18
  • Votes 2

With the COVID situation, looking to sell my investment/rental property.

Considering options from Zillow to Rex and investigating the pros and cons/disadvantages with each option. Have not been in the real estate market for long time. Trying to refresh my memory also. What are the things to watch out for?

Please share your insight.

Happy Thanksgiving!

Thanks much.

Post: Property Damage due to tenants' negligence

Sam S.Posted
  • Homeowner
  • Montclair, NJ
  • Posts 18
  • Votes 2

Wanted to share my horrible tenanat experience in this post. Hope you can give me some input/guidance.

Tenants caused all kinds of damages to my property.

  • 1)Tenants turned down the temperature when the December weather was yo yo (high and low) last year, forgot to turn back up the thermostat and went on Christmas vacation. Long story short, one of the interior pipes froze and the whole downstairs ceiling came down with the frozen pipe burst solely due to tenant’s negligence. Had to pay my insurance deductible and a number of other things to get the house back in shape. Now my HO6 premium went up and thanks to centralized/online recording, my primary house insurance went up by $200/year b/c they detected this loss incident under my SSN/Home Insurance policy.
  • 2)Now here is the situation that impacted the showing of the house and getting prospective tenants/students for next year's rent in a timely fashion. One of the former tenants left some kind of thick paint like stuff (not poop or blood) in the master bedroom toilet and went on vacation at the end of the semester. Looked disgusting. After I found out about it, I couldn't show the house to prospective tenants until the tenant came back and cleaned the bathroom. In the meantime, lost quite a few prospective tenants/students who were initially interested for the next rental year, but backed out after seeing the bathroom. I tried to convince them that I will get the house/bathroom cleaned with a professional cleaner, but no luck. As a matter of fact, one of the parents asked me if the room is occupied by a female student or not. Then she said never imagined a girl would live with this kind of bathroom condition.
  • 3)The entire downstairs was painted as part of the frozen pipe incident. Now I see that the kitchen wall has a few large deep scars showing the drywall base during my inspection. Tenants must have banged some kind of furniture against the kitchen wall to take off part of the sheet rock. It’s simply misusing/ mistreating the property. There are also a number of violation notices I got from the Association for leaving the garbage can/recycling can outside. Left some junk stuff behind the house.
  • 4)Tenants kept asking me if I could terminate my lease earlier since they moved out (I guess they had to sign up another lease with the other landlord before this lease is over). So, in addition to this kind of harassment/inconvenience of not having tenants lined up for next year, I ended up losing 1/3 rent for the last month before I got new tenants. These irresponsible tenants were nothing but trouble. I’m still inspecting the house and assessing the total losses.

Given all these, how do I handle the security deposit?