1. Ask friends, relatives and co-workers for referrals of contractors that they have used recently.
2. Get at least three written estimates.
3. Get references and call to check on the work. If possible, go by and visit earlier jobs.
4. Check with the local Chamber of Commerce or Better Business Bureau for complaints.
5. Be sure that the contract states exactly what is to be done and how change orders will be handled.
6. Make as small a downpayment as possible so you won’t lose a lot if the contractor fails to complete the job.
7. Be sure that the contractor has the necessary permits, licenses, and insurance.
8. Be sure that the contract states when the work will be completed and what recourse you have if it isn’t. Also remember that in many instances you can cancel a contract within three business days of signing it.
9. Ask if the contractor’s workers will do the entire job or whether subcontractors will do parts.
10. Get the contractor to indemnify you if work does not meet local building codes or regulations.
11. Be sure that the contract specifies the contractor will clean up after the job and be responsible for any damage.
12. Guarantee that materials used meet your specifications.
13. Don’t make the final payment until you’re satisfied with the work.
Do it yourself or Hire a Pro: Fixer-Uppers offer Opportunity
The often heard phrase "Buyer Beware" is never more appropriate than when considering the purchase of a fixer-upper. You really need to know exactly what you’re getting into before buying.
It’s commonly believed that fixer-upper properties represent easy money that is ripe for the taking - that you can buy it, do a little work on it in your spare time, and then re-sell quickly for a large profit. Usually, this simply isn't the case. Although, with proper planning and foresight, good profits can be made by buying "distressed" properties at less than market value, making appropriate improvements and repairs, and then reselling. And for many first time buyers who intend to live in the house while working on it, buying a fixer-upper can be the very best option. It’s less risky buying a fixer-upper when you can live in the house while fixing it. And of course, by living in the house for at least 24 months you should be able to avoid paying regular income taxes on the profits.
The most important thing to know before making a decision on such a purchase is what needs to be fixed. Any time you are spending money on improving a home with the notion of selling it later, strive to spend your money on things that buyers can easily see. Things like new paint and removing trash from the property cost little but have instant impact on curb appeal. Houses that have only cosmetic problems like peeling paint, a trashy yard, bad carpet or wallpaper are the best bet. This is especially true for the first time buyer looking to live in the house for a while before reselling. Fixing and cleaning cosmetic issues is fairly easy and inexpensive. It virtually always gives gives a good return on investment, particularly when you can do the work yourself. Kitchen and bathroom remodeling usually pays a nice return. Don’t be afraid of buying a fixer-upper in need of this kind of repair. Properties with structural damage, or a floor plan that requires major work to remedy, usually can’t be "fixed up" at a profit.
Always have an inspection for hidden damage performed by a home inspector or construction professional before buying a fixer-upper. Make sure that satisfactory completion of such inspections are a condition of purchase in any contract you sign. Then be sure to negotiate to try and get the seller to pay for all or part of the cost of needed repairs uncovered by the inspection. Often, sellers will be willing to lower the sales price to sell the home "as is" instead of paying for the repairs.
Be careful that you don’t over pay. Especially if you plan to resell quickly, paying too much up front can doom your plans for quick profit. Research the market for reselling and have an exit plan for selling the house in place before making an offer. Let us recommend a rehab specialist that we have worked with in the past for fast, safe, economical repairs.
Contact Rick Frissell, Florida's Beautiful Homes™- Licensed Realtors® in Florida at 813-653-1241 to list your property for sale or to purchase a property in Brandon, Valrico, Lithia, Riverview, Apollo Beach and the rest of Hillsborough County Florida.
Visit My Profile to find out more about our services. Call us today at 813-653-1241 or E-Mail me at Rick@RickFrissell.Com
For a Free MLS Search of all of Florida Click here We know Hillsborough County and will help you get your home Sold, if you need to Buy a home, we will assist you in locating and purchasing your Brandon Area Home or Land; Call us or e-mail today.
Before you buy a Tampa Bay Area condo, have your real estate agent contact the condo board with the following questions. In the process, you’ll learn how responsive—and organized—its members are.
1. What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the percentage of owner-occupied units, the more marketable the units will be at resale.
2. What covenants, bylaws, and restrictions govern the property? What grandfather clauses are in place? You may find, for instance, that those who buy a property after a certain date can’t rent out their units, but buyers who bought earlier can. Ask for a copy of the bylaws to determine if you can live within them. And have an attorney review property docs, including the master deed, for you.
3. How much does the association keep in reserve? How is that money being invested?
4. Are association assessments keeping pace with the annual rate of inflation? Smart boards raise assessments a certain percentage each year to build reserves to fund future repairs. To determine if the assessment is reasonable, compare the rate to others in the area.
5. What does and doesn’t the assessment cover—common area maintenance, recreational facilities, trash collection, snow removal?
6. What special assessments have been mandated in the past five years? How much was each owner responsible for? Some special assessments are unavoidable. But repeated, expensive assessments could be a red flag about the condition of the building or the board’s fiscal policy.
7. How much turnover occurs in the building?
8. Is the project in litigation? If the builders or homeowners are involved in a lawsuit, reserves can be depleted quickly.
9. Is the developer reputable? Find out what other projects the developer has built and visit one if you can. Ask residents about their perceptions. Request an engineer’s report for developments that have been reconverted from other uses to determine what shape the building is in. If the roof, windows, and bricks aren’t in good repair, they become your problem once you buy.
10. Are multiple associations involved in the property? In very large developments, umbrella associations, as well as the smaller association into which you’re buying, may require separate assessments.
Condominiums and townhouses offer an excellent option to single-family homes in most areas of Tampa Bay, but consider these facts before you buy and compare any prospective properties against these criteria:
1. Storage- Some condos have storage lockers, but usually there are no attics or basements to store belongings.
2. Outdoor space- Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit. However, if you hate yard work, this may be the perfect option for you.
3. Amenities- Many condo properties have swimming pools, fitness centers, and other facilities that would be very expensive in a single-family home.
4. Maintenance- Many condos have onsite maintenance personnel to care for common areas, do repairs in your unit, and let in workers when you’re not home.
5. Security- Many condos have keyed entries and or even door attendants. Plus, you’ll be closer to other people in case of an emergency.
6. Reserve funds and association fees- Although fees generally help pay for amenities and provide savings for future repairs, you will have to pay the fees agreed to by the condo board, whether or not you’re interested in the amenity or not.
7. Resale- The ease of selling your unit is more dependent on what else is for sale in your building, since units are usually fairly similar. Single-family homes usually are more individual. Giving some some thought to your exit strategy ahead of time is always a good plan.
8. Freedom- Although you have a vote, the rules of the condo association can affect your ability to use your property. For example, some condos prohibit home-based businesses. Others prohibit pets. Read the covenants, restrictions, and bylaws of the condo carefully before you make an offer.
9. Proximity- You’re much closer to your neighbors in a condo or town home. If possible, try to meet your closest prospective neighbors before making a decision. If a condo or townhome is in your future, we would like to offer our services to assist you in locating and evaluating any prospetive communities and homes. Please give us a call or e-mail us today.
1. What are your qualifications? Are you a member of the American Association of Home Inspectors?
2. Do you have a current license? Inspectors are not required to be licensed in every state.
3. How many inspections of properties such as this do you do each year?
4. Do you have a list of past clients I can contact?
5. Do you carry professional errors and omission insurance? May I have a copy of the policy?
6. Do you provide any guarantees of your work?
7. What specifically will the inspection cover?
8. What type of report will I receive after the inspection?
9. How long will the inspection take and how long will it take to receive the report?
10. How much will the inspection cost?
We would be happy to recommend Home Inspectors in the area that we have used in the past with great results.
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The Red Baron Realtor's mission is to make sure our clients arrive to their real estate destinations safely, smoothly and comfortably.
How did I get to where I am?
I feel fortunate to have lived in the Tampa/Brandon area all of my life and yet have seen a lot of the world. My travels are the result of time spent in the Navy that introduced me to parts of Europe along the Mediterranean Sea. North American travel was extensive during a 17 year employment with Eastman Kodak.
My last ten years with Kodak prepared me with the professional experience that would be incorporated into the real estate and mortgage business. As a national public speaker, trainer and coach for Kodak, I had the opportunity to discover what people want and need most.
What do most people want?
How does one find the right real estate agent to hire? The search can be daunting. Maybe you go by the most signs that you see along the roads and byways or maybe even the most bus benches. Perhaps the "Million Dollar" or "Multi Million" or even "Multi, Multi Million Dollar Round Table" agent would be your choice.
This is where the Kodak experience comes in. I never met anyone that cared whether Kodak was a major Olympic sponsor or had invented amateur photography. No, what Kodak understood was that people cared most about their Kodak moments. What people wanted most was their memories recorded forever.
I have found that home buyers are most interested in hiring someone that understands they want more that a house. What they want beyond a house is a home. Yes, a home that provides them their own Kodak moments. They want a house that will give them memories to hold and to cherish.
Interestingly, home sellers are not removed from that same kind of sentiment. Many would be surprised at how often I hear home sellers comment that they hope we find "just the right family" to buy their home. Their memories and moments in their home extend beyond the "For Sale" sign and to a hope that we sell to someone that will love the home as they have.
When we are asked to find a 3, 4 or 5 bedroom house, our mission is to find a house that will become their home!
LOCALISM: Brandon, Florida Area
Florida Licensed Real Estate Agent
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