From October 14, 2016 (Just Before Fantasy Fest)
Key West Horror Story No. 5
This particular buyer was self-employed. He lived from project to project. He would get paid a lot of money upon the completion of each project. But there was no steady income for the times in between. I hooked him up with a local lender who figured out a way to get him approved for a mortgage. We started looking in areas other than Old Town where prices were lower. We found such a place in Mid Town.
The particular house was an estate sale. The previous owner had passed away. The man was single and died alone except for his dog. His body wasn't discovered for quite some time. The body of his large dog was found as well. The dog apparently survived for a while after the owner passed. You can figure out what happened.
The finished house was priced the equivalent of a fixer house in Old Town except it was already fixed. My buyer was willing to forgo the cuteness in favor of the up to date renovation at an affordable price. He made an offer. We negotiated the price a bit and put the place under contract.
I was a bit concerned that the agent had done a lot of work which may or may not have been permitted. I included a couple of safe guards in the contract which later proved useful when the renovations she authorized did not pass final building inspection. The brothers had to come out of pocket to bring the sub-standard work up to meet building code.
I totally sympathized with the situation those brothers went through. Losing a family member is never easy. Losing a family member in such a harsh way is awful. But then having to pay for something twice compounds the loss even more.
Added September 2020. The original agent is out there still selling houses to the unsuspecting. I should have filed a complaint with the Key West board. I did not. I should have.
3 comments:
Gary nice read! I had a different situation (with a terrible realtor) a few years back when I went open house hunting on a beautiful Sunday in Key West. Was walking seaport/meadows area intending to look at a half dozen homes. I found one of them on White St. Big & beautiful w two furnished guest cottages in back surrounding an approx 20’ x 20’ pool. I entered the open house, and introduced myself to the realtor (no names) who was sitting in the main house smoking a cigarette, feet plopped up on kitchen counter. Without so much as standing up he pointed to the cottages and said “take a look”. I viewed both gorgeous units, and was awed by the size, clarity, and tree work that allowed the pool to be in full sun for the majority of the afternoon.
Now it was time to view the main house. The realtor was still in the same position as when entering, did not move an inch. I asked if he would like to show me the main house with numerous rooms. Once more he stated “take a look”. I viewed the first floor, and noticed quite a odor. Upon ascending the stairway to upper floors the smell became stronger and more pungent. The treads leading upward as well as the walls smelled of distinct cat urine. I am quite allergic to felines as well as their “inappropriate elimination”, especially on a sweltering Key West day, with no A/C operating, I immediately backtracked, told the worthless realtor of my findings. Same position, this time he lowered the newspaper, he had finished his cigarette. He stated, “oh no, the owners never had a cat, I can assure you”. I looked at him In amazement.
I left. The house never did sell. The realtor is still listed as active in Key West Association. And you wonder why 10% of licensed realtors are responsible for 90% of the sales....
That's because said license takes 2 weeks to get.
No 2 is so correct.
I don't think I was ever so afraid as when I attended the Gold Coast Real Estate School in Miami in 1996. Some of the students could not speak in English and some who did were not coherent. I do nor care about where people come from. I do care about competency. Being able to effectively communicate with your customer is crucial in getting any deal finished. Getting a listing is step one. Marketing is step two. Finding a buyer is step three. Getting a contract signed by both parties is step four. Getting it closed is the goal. I was truly afraid for the public. Getting a license is easy. Being competent requires so much more.
Gary
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