FAQ's (Frequently Asked Questions)

The following are frequently asked questions regarding buying and selling a home. I’ve started out with military-related questions and then included seller questions followed by buyer questions.

1. I just got PCS orders, how long will it take to sell my home?

   The Average Days on Market (DOM) for this area is currently 120 days.

2. What are the pricing trends for the homes in the area?

   Since it is currently a buyers market, home prices have dropped about 13% from last year.

3. How can I tell if my home is priced too high?

   If you are not getting any showings, any offers, or if it is languishing on the market without any interest.

4. What is better, VA financing or conventional?

   The Florida Heroes program may be your best bet. Talk to a lender to find out what’s best for you.

5. Can I use my VA benefit more than once? 

   Yes, but not simultaneously.

6. What are the schools like in the area?

   According to the 2007 Brevard Public Schools report, 94% of Brevard County Schools rank at A or B level on the FCATs.

7. How is the surfing on Florida’s East Coast?

   Brevard County has some of the best surfing on the East Coast and Cocoa Beach and Sebastian Inlet are best for beginners.


FAQs for Sellers


1.  How do I set the selling price for my home?

When selling your home, setting the right price is essential. We can help you get started; just request a free Comparative Market Analysis (CMA) today. With this information, you will be better prepared to set the right price for your home to get it sold quicker and for more money.

For the most accurate evaluation of your home, have us come out for a brief visit to note the condition of your home and any improvements you may have made. In our assessment, we’ll consider its square footage, number of rooms and location. This information will give you the ammunition you need to competitively price your home to get it sold quickly and easily.


2.   What are the two standard contingencies found in a purchase offer?

The two standard contingencies found in a purchase offer are:

·        Financing contingency: The home purchase is contingent upon whether or not the buyer can secure a loan from a lender.
·        Inspection contingency: A buyer has the right to have the property inspected for any problems that may have not been disclosed. If significant issues arise, the purchase offer could be revoked.

In either contingency, the outcomes may vary. A deposit can be forfeited if the buyers renege on a sale for reasons other than those contained within the contract agreement. If the seller does not fulfill his or her responsibilities (e.g., clear title not given, agreed upon repairs not made, substantial changes to the property effected before closing), the purchase again, may be forfeited or other consequences may occur.

There are other contingencies but these are the most common. If you require special considerations before vacating your sold home, let us know and we’ll add those to the contract.

3.   What types of issues must a seller disclose when selling a home?

When selling your home, you (the seller) and your broker (if you have one) are responsible for disclosing any known issues that could materially affect the value of the property. More specifically, disclosure must include items which may not be obvious the casual observer, such as a cracked foundation, of which you, as the homeowner, have knowledge.

When dealing with the sale of homes, the seller is usually required to provide a Real Estate Disclosure Statement. This identifies the current condition and history of all physical aspects of the house.

4.   Is there a “best” time to sell my house?

Yes and no. The month in which you list your home can sometimes expose your home to more buyers. On average, the real estate market in Brevard County begins to pick up in February. The strongest selling typically occurs during the early months from February through April. Interestingly, But the ultimate selling factors are, of course, supply and demand and general economic health.

5.   How can I get my house to sell faster?

There are numerous factors that go into the speed of which a house sells. Generally a house sells most quickly when it has been well-maintained and priced similarly to other houses selling in the area in a healthy sales market. Also, if your home has been remodeled within the past ten years, you’ll find it will not only sell more quickly, but will also top the prices of your competitors in your neighborhood.

6.   How much home improvement is too much?

There is generally a cap to the amount of home improvement that should be done. In other words, there are high-return improvements that will generally recognize a higher sales price, such as kitchen, bathroom and mater suite remodels. But other less-obvious upgrades may not have such significant returns. It’s not a good idea to start a major remodeling project just before putting your home up for sale. You probably won’t recoup the money you spent remodeling.

7.   What is the MLS?

MLS stands for Multiple Listing Service. When a real estate agent is a member of the MLS, s/he has the ability to be part of any aspect of a home purchase or sale. In other words, even if a property is listed with Company A, it maybe be sold by an agent working at Company B.

If you, as the seller, list your property with a real estate agent who is a member of MLS, you’ll give yourself the added benefit of having more agents aware of your listing and, ultimately, working for you.

8.   Should I use a real estate professional?

Yes!  A professional agent will secure the best price for your home. Negotiating the complex workings of the market is incredibly involved. Having a professional’s invaluable expertise will make every aspect of the transaction easier, from financing to the purchase contract.

9.   What should I do if my neighbor just sold their home for a lot more than I’m asking?

Don’t panic!  It’s not uncommon for houses in the same neighborhood to sell at different prices. Location is just one of the components that factor into home pricing. Before raising your asking price, consider other factors, such as age, features, size, style, and any recent additions or remodels you may have made to your home. Also consider the time between your listing and their sale. In a market where price deprciation is rapid, your home may not be worth what it was six months ago. If there is no discernable difference between your home and your neighbor’s, consult your real estate agent about considering an adjustment of your asking price.