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Not all Ocala 55+ have a true HOA

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Not all Ocala 55+ communities have what buyers from other parts of the country think of as a homeowner’s association, that being when the builder finishes construction that he turns over the facilities and management to the residents.

Here and in many parts of Florida the developer retains ownership of the common areas including the clubhouse, pool, fitness center and golf course and manages the community collecting fees for using the amenities. In this type of community the HOA is for social purposes like clubs and activities. Area communities with this sort or structure include Cherry Wood, Oak Run, Ocala Palms, On Top of the World and the Indigo East and Candler Hills areas.

Communities where the residents do control a homeowners association are Summerglen, Spruce Creek Golf and Country Club, Spruce Creek Preserve, Palm Cay, Spruce Creek North,  and Stone Creek when it gets built out.

I’m not sure one is better than another. Oak Run is one of my favorite communities. You get a lot of bang for your fees at Oak Run and the fees pretty much remain the same.

Real Estate from the Seller’s Point of View

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I occasionally take listings but the majority of my real estate work is in representing buyers. When working with buyers a lot are sellers at the same time usually in some other part of the country. In the Ocala area buyers often will make an offer contingent on the successful sale of their existing home which would have to be already under contract. Looking at buyers contracts I’m struck by several things.

1. People will accept offers with really low escrow or good faith deposits. There are plenty of people who can afford to walk away from a $1,000-  if they really want to but not many will walk away from $5,000-. Having said that I often write offers with a low escrow deposit and I’m surprised how seldom the seller counters.

2. Don’t seller’s look at their buyers ability to buy their home ? If a buyer makes you an offer with no money down and wants you to pay closing costs isn’t that a weak offer ? As opposed to cash for 30% down for example.

3. Pre approved. You know that doesn’t mean the buyer is 100%  guaranteed to get a loan right ? In some cases this just means a lender asks some questions about their finances. A seller might want to ask if the lender looked at bank statements, tax returns ect. It is the underwriters who approve loans not the banker or mortgage person who initially interviews the buyer. Underwriters are extremely tough these days and do not rubber stamp loans !

4. Some lenders are notorious for not closing on time. This can be a big problem if you are trying to sell one house and buy another at the same time.

These are just a few thoughts about selling your house. They are all things an experienced Realtor should be bringing up before you get an offer.

Why you should always do your own inspection

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My buyer found a house they liked and it seemed odd that the seller had only lived there a month or so. Apparently she regretted her purchase and wanted to go back home. After accepting my buyers offer the seller’s agent offered my buyers the inspection that the seller had just had done several weeks ago. I cautioned about using an existing inspection. Sure enough one of the inspectors I like found several problems that the first inspector missed. Pretty obvious things like leaky faucets, a frozen valve on the hot water heater. Nothing serious but the seller was required to make those repairs under the Florida real estate contract that we used. All things the previous seller should have repaired.

Another time my buyer walked away from a deal because the AC was shot. We knew it was old and had an AC tech do an inspection in addition to the home inspection. Someone had rigged the AC so it wouldn’t blow out freon ! The listing agent gave my buyers inspection to the next buyer never knowing the results of the independent AC inspection.

So there you go. Never trust an inspection that you didn’t order and pay for.

Spruce Creek Preserve home for sale

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white house with tree in front

Spruce Creek Preserve home for sale. This Fir model, built in 1998 has 1,424 sqft of living area and 2244 sqft under the roof. It features newer carpeting, updated appliances, 2 bedrooms, 2 full baths and a 2 car garage. It is in an especially desirable location with no neighbors directly in back. There is a great view of the clubhouse from the Lanai. HOA fees are $117- month that cover trash pick up, use of the clubhouse, pool, fitness center, maintenance of the common areas and professional community management. Golf is not part of the HOA fees. This home is priced at $89,500-

UNDER CONTRACT  Only 57 days on the market !
SOLD

 

Dunnellon Florida makes list of Top 15 Retirement Hot Spots for Real Estate Investing

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tree on edge of the water

Rainbow River Dunnellon Florida

Realty Trac best known for information on foreclosures has placed Dunnellon Florida on it’s list of 15 retirement hot spots. Not only did Dunnellon make the list it is number one !

Dunnellon is about 30 minutes west of Ocala. It is a very nice town best know for it’s homey rural atmosphere, 2 rivers and close proximity to the Gulf of Mexico. Now there is only one 55+ community in Dunnellon so Realty Trac is talking about retirement in communities without 55+ deed restrictions.

If you’re interested in Dunnellon real estate call me, email me or use my Dream Home Finder