Permits, Problems and Protections in Fort Lauderdale Home Sales

Almost anything goes in the current Fort Lauderdale home sales market. Almost. With inventory of existing homes at record lows and demand at record highs, homes that hit the market don’t stay there long. That has long-time home buyers eager to cash out.

In this recent video, we discuss how you needn’t own a home very long in the current market to see some real profits. Depending on the neighborhood, a home bought just two or three years ago could see significant appreciation – even $50,000, $100,000 or more.

But what about homes in questionable shape? I recently listed a home in Wilton Manors. The owner told me of a host of improvements over the past decade. The kitchen and bathrooms were upgraded. It had impact glass and a new roof. On paper, it seemed like the perfect, move-in ready home.

In reality, it had issues. I noticed cutouts where repairs had been made to the roof. A conversation with the owner led to his admission that it had been a money pit. Truth is, any home older than a decade will have some issues in need of addressing. Even move-in ready homes have something the new owners will want fixed or find lacking.

As a listing agent, it’s my job to protect the owner, both in the price the property fetches and against any potential downsides related to or after closing. I told the owner it was critical to disclose any potential problems. We live in a litigious society; a buyer who feels wronged by a seller’s failure to disclose or omit issues with the home would be quick to sue for damages.

Still, the owner declined to disclose. So I declined to take the listing and bid him farewell.

Sometimes, God protects us through rejection. He steers us from something that could bring costly peril our way.

I’ve built my reputation on the foundation of integrity and I will not easily sway from that standard. I appreciate clients who share my desire to sell a good property at a fair price – after fully disclosing any issues that may exist. In this market, there’s serious money to be made by upstanding and honest sellers. No need to lie or cut corners.

If you want to discuss in greater detail your home for sale, don’t hesitate to contact me.

Gary Lanham is team leader for the Gary Lanham Group at Coldwell Banker Real Estate Fort Lauderdale Beach Office. To learn more, visit instagram.com/garylanhamgroup or call 954-695- 6518