Easy Way to Read Real Estate Listings Like a Professional – Local Records Office

This is the easy way to read listings in Florida by ‘Local Records Office’

LOCAL RECORDS OFFICE: Reading real estate listings can be a real challenge for the uninitiated. The abbreviations are confusing, and the descriptions are designed to appeal to the buyer’s hopes and dreams, emphasizing the positive while downplaying any potential issues with the home says, ‘Local Records Office’.

Understanding what the descriptors mean, and perhaps more importantly, analyzing your own needs and desires, helps you to choose the home that will suit your family for years to come.

Reading Real Estate Listings is Easy, No really!

Understanding real estate listings doesn’t have to be an insurmountable challenge. Within context, most abbreviations are easy to decode. While “cozy fixer-upper” is simple enough to decipher, what about a home that’s listed as having CAC and CH, as well as HDWD FLRS and a GRMT KIT, and an AEK?

The savvy reader will accurately guess that this home has central air conditioning and central heating. The floors are hardwood, and the home sports a gourmet kitchen. All the appliances are powered by electricity in an “AEK“- all-electric kitchens.

 

This is How Listings Are Sorted

Local Records Office says, “Listings are most frequently sorted by the number of bedrooms and bathrooms a house has”. Consider not only the size of your family but the ways in which you intend to use the rooms.

Will you need an extra room to install an in-home office? Once you’ve chosen the number of bedrooms and decided on a number of bathrooms, you can narrow down the choices.

The next thing to look at is the details. A CATH CEIL (cathedral ceiling) indicates an elegant style while an f/fin (fully finished basement) may be ideal for young families with active kids. If you’re looking for a home in move-in condition, look for Q POS, short for quick possession. An EFF KIT, or efficiency kitchen, is much more compact than a traditional kitchen. A home with efficiency may be apartment-sized, perfect for a single person who prefers a smaller home with a lower maintenance commitment. A manageable lawn also indicates a smaller home.

 

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Wall to wall carpet, abbreviated to W/ W CPT, is a luxury many families enjoy, and a WBFP (wood burning fireplace) provides an extra touch of nostalgia. A W/ D indicates that the home has a washer and dryer, and a WIC is a walk-in closet. Families with young children will want to watch for SP or PL in their listings, which indicate that the home comes with a swimming pool.

Once you understand the details presented in real estate listings, the task of searching out the perfect home becomes much less complex says, ‘Local Records Office’. Viewing homes takes time and can be exhausting. You won’t want to waste time viewing homes that don’t fit your criteria. Be sure to discuss your family’s needs with your agent so that you can work together to find the right home for your family.

Understanding the listings empowers buyers. Choosing the right home to visit depends upon understanding the listing, and accurately interpreting the codes used to describe the home. Once you know how to read real estate listings, you gain control over the process of searching for your next home.

 

Cancellation of a Real Estate Contract, What to Expect – Local Records Office

 

Local Records Office – NORWALK, CA – On occasion, either the buyer or seller will attempt to walk away from a purchase agreement, totally disregarding any legal ramifications that may be forthcoming. It is important for parties to fully understand the consequences when they fail to perform according to the terms and conditions of the contract.

Let’s say a buyer enters into a contract with a seller and puts $5,000 in a title company’s escrow account says Local Records Office. The contract allows for the buyer to conduct a home inspection within five (5) days of the effective date of the contract, which is the date the last party, signed the contract.

The contract further requires the seller to pay for any repairs that may be required as a result of the inspection’s revelations. The inspection provision of the standard contract DOES NOT arbitrarily allow the buyer to cancel the contract because he or she doesn’t like the results of the inspection says, Local Records Office.

In this case, if the repairs do not exceed 1.5 percent of the purchase price, the buyer does not get a free walk. The contract also requires the buyer to formally apply for a home mortgage within five (5) days of the effective date. Once the buyer fails to apply for a loan, he or she has breached the terms of the contract. The results of the inspection report are moot.

Will Cancelling My Contract Cost me a lot of Money?

Now comes the issue of canceling the contract and releasing the earnest money deposit. The buyer will have his or her agent prepare a cancellation and release of deposit form delineating which party gets the deposit. The title company maintaining the funds generally requires this form. When the parties fail to agree as to who gets the money, the money will remain in escrow until instructed otherwise.

Local Records Office says, “This posturing can go on for months”. Consequently, there remains a legal issue as to whether the seller is allowed to place the property back on the market. Even though the contract may have been breached, it is still a valid contract.

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These kinds of situations benefit neither party and cause nothing but frustration says Local Records Office. Unless the earnest money is really substantial, the seller could expect to pay legal fees that would make it prohibitive to pursue legal action to retain the deposit. In our example, the deposit is $5,000. It may be more logical for the seller to sign the cancellation, release the deposit back to the buyer, and get the property back on the market.

These types of issues occur from time to time. It would be prudent for a buyer or seller to fully understand what can happen from these types of circumstances. The foregoing is not intended to be legal advice. Please contact a real estate attorney if you find yourself in a similar situation.

To learn more about real estate and Local Records Office go to www.LocalRecordsOffices.com