Sarasota Real Estate News

I recently sold a home in Sarasota County that is over 20 years old with the original hip tile roof. Seller was selling the home "As-Is," giving Buyer the right to inspect and right to cancel (for any or no reason) within the due diligence period. Seller refused to make repairs.  I worked with the Buyer.

Seller specified a 7-day inspection period in the contract. We already knew that two previous contracts had fallen through on this property. Seller kept the $25,000 earnest money deposit with the first contract, and I couldn't let that happen again. 

My Buyer's 4-point inspection report showed active roof leaks, minor electrical and plumbing issues. Remaining useful life of roof is six years. Seller said, "Home is being sold 'As-Is,' so this is not my problem."  Hello....Mr. Seller? Do you want to sell your home or just list it on MLS? Mrs. Seller really didn't want to leave the neighborhood, so they weren't motivated.

Buyer had just three days left in the 7-day inspection period. They loved the home and didn't want to cancel the contract. I scrambled to get a week's extension on the inspection period--plus roof, plumbing, and electrical inspections. Listing Agent explained to the Seller that until these 4-point issues were resolved, the home could not be insured. Attorney Maury Azerad prepared an addendum to the contract that required repairs by licensed contractors; the home must pass re-inspection, and the Buyer must be able to obtain insurance, OTHERWISE, Buyers could terminate the contract and get their $25,000 earnest money back. Yeah, I'm a pain when it comes to taking care of my people. 

Seller finally got it. Buyer couldn't obtain insurance until these repairs were completed. Next day the Seller said that the roof repairs were done. "Send me a copy of the paid receipt," I said. Listing Agent said there wasn't a receipt, it was paid in cash. OMG. The next day, I had Mighty Dog Roofing come out. The Seller had gotten a handyman in who patched some of the leaks with concrete. OMG

Mighty Dog Roofing, took photos of the shoddy work completed, did their own estimate, and fixed the active leaks a few days later. Total price less than $2,500.  The electrical and plumbing work was completed by licensed contractors (less than $1,500). The home passed the 4-point re-inspection, Buyer obtained insurance, and they move in Tuesday. Everyone's very happy, especially the Listing Agent and me. Fortunately, we worked very well together. 

Attorney Maury Azerad with Properties Title represented the Buyer. He asked me to keep him updated on the repairs. Mr. Azerad advised that with As-Is contracts, there is no provision for using licensed contractors for repairs! OMG. As-Is contracts are not always in the best interest of the Buyer, despite the ability to cancel for any or no reason within the due diligence period.

Buyer really wanted this home, otherwise, we would have walked away. Roofing contractors are scheduling inspections 5 weeks out, and repairs are taking months after Hurricane Ian. Buyers were fortunate to have Maury Azerad, Properties Title, Mighty Dog Roofing and Peace of Mind Home Inspections on their side. And Linda Holley. Work with experienced Realtors. We have our contacts, know how to protect you, and we know how to get things done.

My book, Failure to Disclose, a Double-Edged Sword is women's fiction genre, an easy read--and is finally in the hands of the printer. It's about Chloe Hawk who moved from Wyoming to Atlanta when she was a teenager. In her 50's, she returned "back home" to Wyoming and purchased a ski condo. Going back home was harder than she ever imagined as a female investor from "back East." It  will be available to purchase on Amazon in just a few weeks. Publisher: Peppertree Press, Sarasota, and I'm the author. 

 Call Linda Holley, Realtor, GRI, SRES, Fine Properties, 941-914-4914, for your real estate needs in Sarasota and Manatee Counties.