Orlando area residential real estate specialists, covering Orlando, Oviedo, Winter Springs, Lake Mary, Longwood, Altamonte Springs, Maitland, Winter Park, Casselberry, Geneva, Chuluota, Sanford, Apopka, Windermere, Dr. Phillips, Lake Nona.

  

In the blink of an eye, the summer break is almost over!  In a few more days schools will start back up again.  We hope you fully enjoy the beautiful (and hot) month of August.

This month, let’s talk about residential real estate contracts.  When we are buying and selling homes, the written agreement is the sales contract. The contract governs the transaction and provides for the rights and obligations of the buyer and seller. It is legally binding once signed by both parties. The understanding of the details is crucial for the success of a transaction.

Real estate agents do not have the training or the license to draft contracts.  Only licensed attorneys can do that.  What we real estate agents use are standard contracts created by trade groups, then approved by the Florida Supreme Court for use by non-lawyers. 

In Central Florida, the prevailing contract is the FR/BAR contract Version 3.  This contract is created by the joint efforts of the Florida Realtors Association and the Florida Bar Association and named accordingly.

There is also the CRSP contract Version 13.  CRSP stands for Contract for Residential Sale and Purchase.

These contracts have important differences throughout.  Here is a simple example: in the CRSP contract, washer and dryer are included in the sale.  In the FR/BAR contract, they are not.

The contracts are revised every time there are law changes or transactional updates.  For example, the FR/BAR contract version 4 is in the works now to (hopefully) comply with and reflect the consequences of the implementation of the new federal TRID rules.

If you work with real estate agents, make sure they understand these contracts and keep up with the latest revisions.  They are your representatives in contract negotiation and contract management.  Your rights and obligations are governed by these documents that you sign. It’s important you understand the details and nuances so you are not surprised later. 

If you are thinking about buying or selling a home and would like to talk about these matters, please give us a call. We love to talk about real estate!

Until next month, take care!

Yien & The Yao Team

 

 

*Finding Your Next Home or Next Investment*

Take advantage of a professional buyer consultation. The Home finding process is not just a database search. Nothing replaces the value of working with an experienced buyer representative. Have a conversation about what you want, and we will work together and guide you towards your dream home.

 


*Selling a Home*

To maximize your chance for selling and at the top possible price, you truly need an exceptional team that has the means and systems to give your home the maximum exposure, a seasoned negotiator that has the skills to represent your interest, and an experienced guide to navigate pass the many pitfalls of a real estate transaction. If you are thinking about selling your home, please give The Yao Team the opportunity to show you how it does pay to hire a specialist.


The Market is Always Changing!
Market Trend Knowledge is Paramount!

In the last 13 years, Orlando’s real estate market went through an unprecedented upheaval, on a scale much more exaggerated than what the nation experienced as a whole. In early 2000’s, Orlando enjoyed aggressive home price appreciation. This attracted investors & speculators from around the country & even internationally.  This in turn drove the demand to a fevered peak up until early-mid 2005.  We now understand this was driven by unsustainable lending of easy money. The market started turning in late 2005 and spent 2006, 2007, 2008, and 2009 in decline. In 2011 the market found “saw-tooth bottom”, driven by a different kind of investor demand.  Home prices are have been rebounding since 2012.  We will discuss the current market condition with you in depth.  You need the up-to-date market information to help you make the right decisions.

 

 

To sell a home in a shifting market, you must market your home expertly & price your home competitively. Your home must be staged & show-ready in order to capture the buyers that do come through your home. To maximize your chance for selling and at the top possible price, you truly need an exceptional team. We have the means and systems to give your home the maximum exposure. We are seasoned negotiators that have the skills to represent your interests and help you navigate pass the many pitfalls of a real estate transaction. If you are thinking about selling your home, please give The Yao Team the opportunity to show you how it does pay to hire a specialist.  


We Can Make the Difference
Are you feeling overwhelmed? Buying or selling a home is one of the biggest decisions you'll ever make. A professional who is understanding and dedicated to your needs is an invaluable partner in achieving your goals. As full-time agents, we are  committed to helping you through the entire process, making your real estate transaction a positive and rewarding experience.

  • Your best interests are our top priority.
  • Our focus is on giving you personal attention and the best service.
  • We know the local neighborhoods, schools, market conditions and more.
  • We will make your transaction as smooth as possible.

 

Get the advice you deserve
The Internet is a great place to find information. But it can't give you the in depth local knowledge and personal service of a local real estate agent. The challenges are getting more complex every day.   Finding the right home for the buyer or bringing the right buyer for the seller is only half the process.  Managing the whole transaction from the skillful negotiation of a contract to finally bringing it to a successful closing takes a full blend of contractual knowledge, transactional experience, patience, diligence, and creativity. You need a professional that is on top of the market who will protect your interests and guide you through the transaction step by step.

Call for a Consultation today
We would be honored for the chance to help you. Please call or e-mail us for an appointment to discuss your real estate needs. Thanks for stopping by our website. We're looking forward to hearing from you!
 

 

 

 

 

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