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Although asbestos hasn't been used...

Buying a Home in Destin? Check for Asbestos

Although asbestos hasn't been used as a building material for over 30 years, it still can be found in older structures. So, if you are buying a home that was built prior to 1989, you may want to have your property inspector check the property to make sure asbestos is not present.

Asbestos was widely used in both commercial and residential real estate construction—especially during the 1950s, 1960s and 1970s.  At one time it was almost considered a “miracle” material due to its insulation qualities, but has since been found to be a health hazard.  In particular, it has been closely linked to mesothelioma...a form of lunch cancer.

A good property inspector will know to look for asbestos and how to spot evidence of it.  If you are considering buying a home that is found to have asbestos, you will want to be absolutely certain it is properly removed before you move in.  Likewise, if you are the owner of a piece of real estate where asbestos was used in insulation or elsewhere, you will have to address it.  For starters, it renders the property virtually impossible to sell.  Additionally, it will be reported to authorities—you will be forced to deal with it one way or the other.

For more ideas on buying a home for sale in Destin or selling one, contact us at info@eimersgroup.com

Some homeowners, either in...

Second Mortgages

Some homeowners, either in financial distress or needing a loan to finance some undertaking such as starting a business or sending children to college, may take out a second real estate home mortgage against their home. 

 

This can be a risky undertaking for the lender because, since the home is already under one mortgage in which the home serves as collateral to secure the home mortgage, the second mortgage lender is “second in line” to foreclose on the home if the homeowner who owns the real estate cannot pay.  As a result, the home mortgage lender typically will charge a higher interest rate on the second mortgage on the home than they otherwise would and are rarely willing to loan as much on the value of the real estate as they would on a first home mortgage.  They also tend to have much stricter requirements such as a high degree of equity in the home, a low debt to income ratio and excellent credit.

 

If you are a homeowner who feels you need to take out a second mortgage on your home, talk to a reputable home mortgage lender to determine if you qualify and how much you qualify for.

Disclaimer:         

The material on our website is intended to provide only general information and comments as a courtesy to the general public and potential real estate clients. Although we make our best efforts to ensure that the information found on our website is accurate and timely, we cannot, and do not, guarantee that the information is either. Nor do we guarantee the accuracy of any information contained on websites to which our website provide links.

Do not, under any circumstances, rely on information found on our website as a replacement for sound professional advice from individuals who specialize in such matters. Legal, insurance, and other related subjects are often complicated. For assistance with your specific real estate questions or inquiries please contact one of our knowledgeable real estate agents, any of whom will be pleased to determine whether our agency can assist you.

 

If you are a...

Buying Waterfront Property For Sale

If you are a homeowner who owns a home or a homebuyer hoping to buy a home, waterfront homes for sale bring their own unique issues to the real estate market.

You can rest assured that, if the home for sale is waterfront, it WILL be in a high-risk flood zone.  Which means you will almost certainly be required to purchase flood insurance through the Federal Emergency Management Agency (FEMA).

Waterfront real estate and homes for sale is almost always more expensive than other real estate or homes for sale.  Also, waterfront properties often have docks or boat houses that require additional maintenance and can boost your liability risks.

Also, be aware that real estate located in salt water areas—because of the high degree of salt in the air is subject to far more damage and maintenance than real estate around fresh water.  Salt is extremely corrosive to outdoor HVAC units, hot water heaters, vehicles, flashing around windows and doors or any other metal objects.

Disclaimer:

The material on our website is intended to provide only general information and comments as a courtesy to the general public and potential real estate clients. Although we make our best efforts to ensure that the information found on our website is accurate and timely, we cannot, and do not, guarantee that the information is either. Nor do we guarantee the accuracy of any information contained on websites to which our website provide links.

Do not, under any circumstances, rely on information found on our website as a replacement for sound professional advice from individuals who specialize in such matters. Legal, insurance, and other related subjects are often complicated. For assistance with your specific real estate questions or inquiries please contact one of our knowledgeable real estate agents, any of whom will be pleased to determine whether our agency can assist you.

Interested in buying a...

Buying a Vacation Home

Interested in buying a home to be a vacation rental?  You have your work cut out for you but, if done right, you’ll have a fun place to visit with the added benefit of a little extra income from time to time.

Buying a home for vacation rental purposes has its own unique set of characteristics.  For one thing, you need to pick the right spot. Of course we here at bealocaldestin.com believe we ar in the BEST area for vacation homes. Obviously you want an area that is already a popular vacation destination among tourists.  Beach towns, mountain communities—someplace people want to go.  Also, just grabbing a piece of real estate in the right town isn’t enough. If you’re buying in a beach town, the closer to the beach your home is, the better it will rent.  In mountain areas, a good view and/or a spot on creek or lake are essential.  In ski communities, such as Vail or Aspen, access to the slopes is a must.  It really depends on the area.  In New Orleans, for instance that is neither a beach town nor a mountain community, prime vacation rentals tend to be those in or near the French Quarter.  Tailor to your market.

There are a few other things to consider.  Vacation rentals tend to get some abuse.  Anticipate all the contingencies.  Tile floors over carpet; no expensive or irreplaceable decorations (especially not family heirlooms with emotional value); simple, easy-to-use audio visual systems.  Also, don’t go too far in the other direction.  A vacation rental home should have nice furnishings.  If the renters feel like they’re living in a dump, they’ll treat it like a dump.

Disclaimer:

The material on our website is intended to provide only general information and comments as a courtesy to the general public and potential real estate clients. Although we make our best efforts to ensure that the information found on our website is accurate and timely, we cannot, and do not, guarantee that the information is either. Nor do we guarantee the accuracy of any information contained on websites to which our website provide links.

Do not, under any circumstances, rely on information found on our website as a replacement for sound professional advice from individuals who specialize in such matters. Legal, insurance, and other related subjects are often complicated. For assistance with your specific real estate questions or inquiries please contact one of our knowledgeable real estate agents, any of whom will be pleased to determine whether our agency can assist you.

 

Just like when selling...

Selling Commercial Real Estate-Assessing the Market

Just like when selling a home for sale, selling commercial real estate for sale requires that you understand the real estate market if you want to be successful.

Assessing the real estate market for commercial real estate requires that you have a good understanding of the demographics and the kinds of businesses that may be looking to purchase commercial real estate in your area.  After all, if you own a manufacturing facility in an area full of high-end retail like Destin, you may have trouble selling it as a going concern.

This is where a good realtor, like those here at  bealocaldestin.com, who specializes in the commercial real estate market is essential.  He or she will know what kinds of businesses do well in that area and what might match up with the commercial real estate parcel for sale.  The realtor may also understand what kinds of new business trends might be moving into the area and how that might affect the market for commercial real estate for sale.

Disclaimer:

The material on our website is intended to provide only general information and comments as a courtesy to the general public and potential real estate clients. Although we make our best efforts to ensure that the information found on our website is accurate and timely, we cannot, and do not, guarantee that the information is either. Nor do we guarantee the accuracy of any information contained on websites to which our website provide links.

Do not, under any circumstances, rely on information found on our website as a replacement for sound professional advice from individuals who specialize in such matters. Legal, insurance, and other related subjects are often complicated. For assistance with your specific real estate questions or inquiries please contact one of our knowledgeable real estate agents, any of whom will be pleased to determine whether our agency can assist you.

 

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