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Marco Island Condos, Marco Island Real Estate, Marco Island Homes for Sale, Marco Island Luxury Homes

Waterfront Luxury Home Specialist

239.821.7926
Cathy.Rogers@Sothebysrealty.com

Do You Know How To Spot Signs Of Foundation Damage?

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If you are buying a home near Marco Island, it doesn’t hurt to know the signs of foundation damage. Spotting major damage can save you from paying for an inspection, allowing you to move on to the next home with a few hundred extra dollars in your pocket. Actually, whether you are a homeowner or a home buyer, knowing how to spot foundation damage can save money. If you own a home and spot a sign of foundation damage, addressing the issue quickly can save lots of money in future damage.

Obviously, cracks along the foundation can indicate foundation damage. Hair line cracks around 1/16″ thick are common and don’t usually present an issue. They are from typical settling usually. Larger cracks should be looked at though. Also, if you find a stair-step patterned fissure, especially near the corners of the foundation, you’ll want to have that evaluated by a professional. A crack that presents in a 45-degree angle can spell trouble too. One single vertical crack can mean the foundation is actually moving upward! This might indicate a plumbing issue below a slab foundation or can mean that the soil is full of water and expanding upward.

Also, keep an eye out for doors and windows that don’t open properly. Plus, be observant of cabinets and counter tops pulling away from the wall. These could also mean foundation damage.

If we’re out showing you houses and we spot foundation damage, we can always keep looking! There are ample beautiful properties around the Marco Island area. Remember though, not all signs of damage actually indicate a failing foundation, and a complete home inspection can make sure you’re fully informed!

Are You Buying a Home on Marco Island?

Considering buying a home on Marco Island? We’d love to help you find one that’s just right for your needs.

Call us at 239-821-7926 or get in touch with us online to let us know what you’re looking for. We’ll start searching right away. In the meantime, please explore our:

 

 

Also, to stay current on the latest listing and community events, connect with your Marco Island area expert on Facebook or Twitter!

What Are Contingencies in a Real Estate Purchase Contract?

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what are contingencies in a real estate purchase contract - marco island homes and condos

Buying a new home is a big deal, whether it’s a beachfront condo on Marco Island, a luxury estate on the edge of the island, or a Tigertail Beach home with a swimming pool—and it’s important that your contract reflects how important the transaction is.

That means your Marco Island REALTOR®® will build contingencies into your real estate purchase contract.

But what are they, and how do they benefit you?

What Are Contingencies in Real Estate?

A contingency is a condition that must be met for you to purchase a home. Your REALTOR® will put contingencies into your real estate purchase contract to help protect your best interests. Some of the most common contingencies involve appraisal, home inspections, and financing.

The Home Appraisal Contingency

Your lender will choose an appraiser once you’ve asked for financing on a particular property. The appraiser will determine the home’s fair market value.

If the appraisal is lower than the price the seller is asking, your lender may not want to fund the full amount.

In that case, you need a home appraisal contingency in your contract so you can walk away from the deal.

The Home Inspection Contingency

Your home inspection report will show you every issue the inspector discovered while checking out the home. If something is wrong, you have three choices: You can ask the seller to fix the problem, adjust your offer based on how much the repair or replacement will cost you, or back out of the deal.

The Financing Contingency

If you can’t secure financing for a home, you don’t want to be forced to buy it anyway—and that’s where a financing contingency comes in. This contingency will protect you and the seller from getting caught up in a bad deal.

Do You Need to Talk to a REALTOR®® About Buying a Home on Marco Island?

If you’re thinking about buying a home on Marco Island, we’d love to help you find one that’s just right for your needs.

Call us at 239.821.7926 or get in touch with us online to let us know what you’re looking for. We’ll start searching right away. In the meantime, please explore our:

 

Reasons To Attend Your Own Home Inspection

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Be present for your home inspectionAs a home buyer in Marco Island , you can get a feel for whether a home’s systems and appliances are in working order. However, you can’t know for certain until after the home’s been inspected.

This is why real estate agents recommend that buyers hire a licensed home inspectors immediately after going into contract. It’s the best way to really know the home which you’re buying. 

By definition, a home inspection is a top-to-bottom check-up of a home’s physical condition and systems, including a review of the structure, and its plumbing and electrical systems. Home inspections are not the same as a home appraisal, which is a valuation of the property.

When you commission a home inspection, you should be present for it. Here are 3 reasons why :

Seeing For Yourself
There’s a big difference between reading a report and seeing “live” what may be right or wrong with a home. With first-hand knowledge of a potential issue, you’ll be in a better position to determine whether a problem warrants contract cancellation, or whether it’s an additional negotiation point. 

Discovering The Home
Via a home inspection, you will learn where the systems reside within a home (e.g.; boiler room, garage), and how to operate them. This is a valuable educational opportunity and most inspectors are happy to share what they know. It’s also a chance to ask questions about maintenance and upkeep.

Better Understanding
A home inspector’s job is to review and disclose the condition of the home. The inspector’s report, however, is just a summary on paper. In being present for the inspection, a buyer will be able to visualize and understand the report’s conclusions more clearly. This can make for more effective re-negotiations with the seller, in the event that damage or distress is identified.

So, what should you do during the home inspection? Your primary tasks are to watch, listen, learn and ask questions. A professional home inspector will welcome your participation in the process.

Simple Real Estate Definitions : Home Inspection

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Get a home inspectionWhen you preview homes as a home buyer, you can get a good feel for the home’s visible traits — its finishes, its room counts, and its landscaping, for example. What you can’t get a feel for, though, is the home’s “bones”.

It’s for this reason that real estate professionals recommend that you have a property formally inspected immediately after going into contract for it.

A home inspection is a thorough, top-to-bottom check-up of a property’s structure and systems. It is not the same as a home appraisal, which is a valuation of the property. By contrast, home inspections are an objective report on a home’s physical condition.

Home inspections are performed by home inspectors who will typically do the following :

  • Check heating and cooling systems for leaks and efficiency
  • Check electrical systems for safety and soundness of design
  • Check plumbing systems for venting, distribution, and drainage

In addition, a home inspector will review a home’s roofing system; its doors, windows and garages; plus, any attic spaces and basements, where appropriate.

A home inspection may also uncover out-of-code electrical work that municipalities required to be fixed by law.

Meanwhile, it’s not just home buyers who can order inspections. Sellers can order them, too.

One recommended tactic is for a home seller to have the home inspected prior to listing for sale so that all required repairs can be made in advance of showing the home. This can speed up and simplify the sales process, and may help your home sell at a higher price. Buyers often prefer homes in “move-in” ready condition.

A thorough home inspection can take up to 6 hours to complete, depending on the size of the home.

Contact Cathy


239.821.7926
Cathy.Rogers@Sothebysrealty.com