30A Real Estate

Understanding Property Management on 30a

Choosing a property management company is a big decision when purchasing an investment property along Scenic Hwy 30a. The Property Management Options on 30a continue to grow each year and the management fees vary so it is important you do your homework. The more successful property management companies market themselves  much like real estate companies in that most people find their vacation rental property online. In doing research and asking your real estate agent questions about the local management companies make sure you ask about the marketing ability and internet presence of these companies. The more successful companies have been able to streamline their in house operations to include, providing bikes, linen services, basic maintenance, internet service, easy check in and many other options. Most people who purchase a second home with an eye toward placing that home in the vacation rental pool along Hwy 30a are successful business owners or professionals who are market savvy in their ability to acquire the necessary information about a purchase from your better real estate agents but need help in determining who can best fill their needs in the rental management of property. A good real estate agent will not only be knowledgeable about what’s available for purchase and what will best meet your needs but will also be knowledgeable about the different rental management companies and what they have to offer you.

In the higher end developments here along the 30A corridor, there are often amenities, which are critical to marketing your property for vacation rental, that are not always available through every rental management company. Your real estate agent should be versed in who can offer what to you and who can’t.  There are constant changes that occur in the relationships between homeowners associations and developers that have a direct bearing on what is available to a renter and what isn’t. Just a few examples would be access to swimming pools, beach clubs, restaurant discounts, beach services, concierge service, check in courtesies, etc.. One of the biggest mistakes potential buyers make is assuming that your real estate agent is knowledgeable in these areas of purchasing a property here. Not all of them are so be sure that you ask.

Your Agents here at Homes on 30a have the knowledge and ability to offer great service throughout your transaction so call us today.

Know About Home Inspections and the Law

As anyone who has ever purchased a home knows, a home inspection by a building engineer or a certified home inspector is almost always a part of the process. There is a recent case that took place in Washington State that is worth noting.

A couple from Canada purchased a SECOND HOME in a coastal community in Washington and had the house inspected prior to closing on the purchase. The inspector found a small amount of rot and reported this to the buyers. In his report he stated that” the rot did not pose a structural problem” and the rot was repaired.  The couple then closed on the purchase without raising any other issues concerning rot in the house.  Shortly after moving in, the new owners noticed a damp smell, potato bugs and ceiling tiles separating. They then had the home reinspected and serious structural mold, rot and pest damage was discovered. It was not found in the first inspection due to the installation of new siding, trim and insulation by the original sellers. With this new inspection report in hand, the new buyers sued, charging the sellers with fraudulent concealment and negligent representation.

The court found in favor of the buyers but the buyers lost their case on appeal ! The court held that it is the buyers responsibility to be more diligent in following up on the original report. The court took a strict approach to the rule of “Caveat Emptor” or BUYER BEWARE.

It is very important for potential buyers to understand that the ultimate responsibility for the condition of a property lies with them. The court in Washington agreed with the new owners that the sellers were guilty of “egregious nondisclosure and concealment” but charged the buyers with the responsibility of exercising due diligence to the extent that would have uncovered these problems prior to closing on the purchase.

As a potential buyer here on 30A, it is important that you have a real estate agent that is knowledgeable about these issues and can guide you through the process of exercising due diligence when determining the true condition of a structure you are intending to purchase.  Agents here at Homes On 30A are familiar with case law such as the one just described and are sensitive to the pitfalls to be careful of when purchasing a home. Once again, there are many real estate agents to choose from so “CAVEAT EMPTOR” !!!