Question:   Can you explain the difference between sales price, list price and appraised value? 
Answer:   The appraised price is the price that a certified appraiser estimates the property being worth. The certified appraiser bases their price on the property condition, the value of similar properties in the same or similar neighborhood, previous value and plus other factors.

The sale price is the price you are offering for the property, or the price a property is actually sold for.

The list price is the seller’s asking price, the price the seller is advertising the property for sale as. Sometimes sellers price their properties high, low and in between depending on what they hope to get, their negotiation strategy and what they actually think the property, or home is worth.

Question:   Do I need a home inspection when buying my Palm Coast home? 

Answer:   Yes. It is always a good idea to get a home inspection when buying a home. Buying a home “as is”  without an inspection is risky. It may not be visibly apparent to you that major repairs are necessary. Major repairs on a home you just bought can end up costing thousands of dollars you did not intend to spend. There can be plumbing, electrical and roof problems that you are not aware of that could be expensive to fix. It is always good to get a home inspection when buying a home.

Question:   How is the value of a Palm Coast  home determined? 

A:   There are several different ways used to determine the home value.
1) The first is an appraisal.  And appraisal is done by a professional appraisor. The professional appraisor makes an estimate of what he thinks your house is worth based on recent sales of what he considers comparable properties, with comparable location, comparable square footage and construction.An appraisal is a professional estimate of a property’s market value, based on recent sales of comparable properties, location, square footage and construction quality.  This is a service you pay for. The cost of this service varies according to the price of your home.

2) The second method of determing the value of your Palm Coast home is a Comparative Market Analyses. A comparitive market analyses of your Palm Coast home is considered an informal estimate. This informal estimate is usually made by a real estate agent and is based on similar sales of similar properties in your Palm Coast area.  Agents frequently offer free analyses to help win business.

3) The third method of determining the value of your home is a Comparable Sales Report. Comparable Sales Reports can be ordered for a fee from companies specializing in real estate datat.  If you do not wish to pay money and you want a rough idea of value you can also find information about comparable sales in your area on a variety of real estate internet sites.

Question: What are the benefits of seller financing in the current Palm Coast Real Estate market?

Answer: Seller financing can actually benefit the buyer and the seller, especially in today’s market. Sellers may get a tax break for financing, plus they may also be able to sell when other sellers are having difficulty by offering an alternative financing when conventional loans are hard to come by.

For the seller there are the same risks as any loan. Is this purchaser a good credit risk? Plus will the property hold or gain value enough to protect the seller from default while giving the buyer the oppourtunity to repay the loadn.

When you are considering self financing your Palm coast home you should run a full credit check on the borrower. You should also require full insurance on the property including, fire, flood, hurricane, wind etc.

Self financing can also be very beneficial to the Palm Coast buyer. Self financing can allow the buyer to buy a home, sometimes at better rates, when they otherwise might not be able to get financing. This is expecially true in today’s market.