Pat & Curt Barlow

GORGEOUS PENTHOUSE SUITE ! INCREDIBLE OPEN WATER VIEW! Being offered completely furnished and ready for you to move in. Amenities include pool, tennis courts, basketball court,dry storage for your boat with in/out service, white sandy beach and club house. FABULOUS PRICE FOR A RARE PENTHOUSE!!

549012 Residential Active $520,000

Provided as a courtesy of Pat & Curt Barlow Coldwell Banker Schmitt Key Largo direct: (305)852-2501 FAX: (305)451-1220 Office: (305)852-2501 http://TheBarlowTeam.com

law requires all Real Estate Agents to explain the “Agency Relationship” options available to Sellers and Buyers of residential real estate.

The law established three types of agency:

* Single Agency
* Transaction Brokerage
* No Brokerage Relationship

Single Agency: The policy of Coldwell Banker Schmitt is to provide the greatest possible degree
of service to our clients, which only occurs in a Single Agency relationship.

For that reason, the company adopted Single Agency as the primary and preferred relationship
for working with our clients.

As a Single Agent, we provide you with the full spectrum of services including the fiduciary
duties of loyalty, confidentiality and obedience.
The benefit to you is that we place your interest above all others, including our own!

While we believe this type of relationship is what
our clients expect and deserve, most Real Estate Companies have opted not to adopt Single Agency as the primary and preferred relationship for working with buyer and seller. They have chosen Transaction Brokerage, which, by law, is the assumed relationship between a buyer and agent or seller and agent unless they agree to Single Agency or a No Brokerage Relationship.

Transaction Broker: As a Transaction Broker, agents are required to facilitate the transaction by assisting both the buyer and seller, and not represent one party to the detriment of the other. They provide fair and honest dealing, skill, care and diligence, accounting for all funds, and disclosure of all known facts that materially affect the value of a property in which you have interest. The reason most companies have adopted Transaction Brokerage is for the reduced level of liability versus Single Agency.

No Brokerage Relationship

The agent owes you three duties:

* To deal with you honestly and fairly;
* To disclose all known facts that materially affect the value of the property which are not readily observable to you;
* And, to account for all funds entrusted to the agent.

The key point for the No Brokerage Relationship (non-representation) is to not disclose any information you want held in confidence until entering into an agency relationship.

Provided as a service of
Pat & Curt Barlow
Coldwell Banker Schmitt Key Largo

City of Key West Land Use:
The City of Key West has debated the definition of vacation rentals and implementation of legislation to regulate, license, permit or prohibits within the City limits of Key West. If a Buyer is considering renting their property they should discuss the status of this issue with the Key West Planning Dept. to understand its impacts on the Buyer's proposed use of the property.

Non-Conformities:
Structures and uses that do not conform to uses provided for in the land use category that the property or use is located in are considered non-conforming. Such uses and structures are currently allowed to continue but they are not allowed to be expanded, enlarged or continued if substantially destroyed (more than 50% of the value of the structure). Zoning together with the uses provided there under which do not conform to the future Land Use Designations are considered non-conforming. Furthermore, non-conformities are jeopardized if abandoned. Buyers should to seek legal counsel or consult with the Monroe County Planning and Zoning Department to determine whether a property is non-conforming today or may be in the future.

Radon Gas:
Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county public health unit. Pursuant to 404.056(8), Florida Statutes.

Energy Efficiency Rating:
The Purchaser may have the Energy Efficiency Rating of the building determined at buyers expense by a person certified by the Department of Community Affairs.

Concrete Disclosure:
Various concrete structures in the Keys have been found to contain excessive levels of Chloride. This has caused a condition known as spalling which results from the rusting and expansion of steel rebar which reinforces the concrete.

Sewage Disclosure Form:
The City of Marathon and unincorporated Monroe County have taken steps to upgrade to central sewer systems. For questions regarding the timing of the upgrades or estimated hook-up fees, contact:
Monroe County Health Department
3333 Overseas Highway
Marathon, FL 33050
(305) 289-2450
City of Marathon
10045-55 Overseas Highway
Marathon, FL 33050
(305) 743-0033

Lead Base Paint Warning:
For homes, apartments or condominiums built prior to 1978. Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligent quotient, behavioral problems and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller’s possession and notify the buyer of any known lead-based paint. A risk assessment or inspection for possible lead-based paint hazards is reconverted prior to purchase

Provided as a service of
Pat & Curt Barlow
Coldwell Banker Schmitt Key Largo

Coastal Barrier Resources System Act (CBRS):
Certain properties in Monroe County may be affected by the Federal Coastal Barrier Resources System Act or proposed amendments. For information contact the United States Department of the Interior, the Monroe County Planning Department or your legal representative. Property so designated is not eligible for federally subsidized flood insurance as well as other benefits.

Land Use Disclosure:
Due to the unpredictable and constantly changing status of the municipal, county and state regulations for property developments in Monroe County each buyer should contact the appropriate local government department(s) to determine how the subject property may be affected by the Comprehensive Plan and the action necessary to ensure compliance with the plan. Additionally, a property may be affected by restrictive covenants in the form of deed restrictions, Homeowners Association Rules & Restrictions, etc. Every Buyer needs to inquire about them. They also should inquire into state and local governmental zoning and land use regulations and restrictive covenants to determine whether the subject property is in compliance with all state and local government laws, codes and ordinances, and restrictive covenants.
Monroe County Growth Management Division, 305-289-2500 Key Colony Beach Building & Zoning, 305-289-0247 City of Key West, 305-295-1000 City of Layton, 305-664-4667 City of Islamorada 305-664-2345 City of Marathon, 305-289-2501

Monroe County Year 2010 Comprehensive Plan:
The use of the property may be affected by the Land Use Plan, enacted September 15, 1986, revised 1/96 with subsequent revisions due every five (5) years hence or the availability of utilities and sewage disposal now or in the future. The transient rental of single-family residences in I.S. districts has been questioned by Monroe County and regulation by Local or State government may restrict such rentals in certain areas. Properly functioning septic tanks are the minimum permissible on site sewage disposal systems (OSDS). An allocation ordinance exists which limits the number of building permits issued for residential dwelling units. Prior to signing a contract, seek legal counsel or consult with the Monroe County Planning and Zoning Departments. Monroe County is an area of State Critical Concern that heightens the degree of regulation by the State of Florida.

Provided as a service of
Pat & Curt Barlow
Coldwell Banker Schmitt Key Largo

As you may be aware, the environment that makes the Keys so attractive to thousands of people is a fragile environment the requires considerable attention to protect its health and beauty. This fact has created a requirement for close management of all activities that have or might have negative impact on the environment now or in the foreseeable future. The result is a number of "unique to the Keys" regulations and procedures concerning property ownership. They are provided for information purposes of broaden your understanding of what is invalided when purchasing property in the Keys.

Flood Insurance:
The buyer must determine the insurability of the property against flood damage by seeking the advice of a qualified insurance agent. Structures built before January 1, 1975 (pre-firm) are subject to rules governing substantial and non-substantial improvements to pre-firm structures which may limit the reconstruction, rehabilitation or addition to the pre-firm structure. Structures built after January 1, 1975 that has enclosures below the Base Flood Elevation (BFE) are typically not habitable. The existence of habitable space below the BFE may require demolition or an increase in insurance premium. Buyers should contact the Monroe County Federal Emergency Management Coordinator or the City of Key West, City of Key Colony Beach, City of Layton, City of Islamorada and City of Marathon to ascertain how these rules may impact on the property of interest.

Provided as a service of
Pat & Curt Barlow
Coldwell Banker Schmitt Key Largo