The Kleer Team

Buying or selling a home is an educational experience in high end product purchasing. A buyer or seller stands to lose or gain a lot of money depending on their knowledge and vigilance throughout the transaction. While experience and knowhow can put a buyer or seller on the beneficial side of a deal, not having experience can lead to simple mistakes with big consequences. Here are some blunders that can turn a real estate transaction into a nightmare scenario.

Assuming the buying or selling process is going to be smooth and easy just because a buyer or seller for a home has been found can be dangerous. When a buyer or seller commits to a property, the transaction process can draw out the final sale weeks or even months. So don’t count on a contract being signed and ownership transferred by the end of the week. Be sure to have plans for at least a month or two of negotiations and working out all the kinks in the deal.

Practice the poker face. Try not to show too much emotion toward a buyer or seller. For instance: if a buyer is looking at a South Beach condo and they jump for joy after a walkthrough in front of the seller, the seller now feels more comfortable to set a high price, or not compensate the buyer for flaws in the condo.

Assuming the appraisal is the absolute value of a home is a huge mistake. While many appraisals are an adequate reflection of a homes market value, having a realtor do a comparative analysis on a home can save a seller from pricing a home too high or too low.

Not taking everything into consideration is a common problem among buyers and sellers. For instance: if a buyer is purchasing Miami Beach real estate but works in Hollywood, Florida, they should think about whether or not the commute is acceptable.

Finding foreclosure properties really isn’t all that difficult these days. The Miami real estate market is one of several in the country which, for better or worse, has seen dramatic rises in foreclosures, opening up numerous investing opportunities for buyers who know what they’re doing and are aware of the multiple risks involved in foreclosures.

But then there’s the buyer who may be completely unfamiliar with a market like Miami Beach real estate but also wants to take advantage of the large foreclosure inventory. Where do they begin? Common sense and advice would suggest using tools like the Miami MLS search to get the ball rolling but for the first time foreclosure buyer, there are other methods of hunting down foreclosure opportunities.

The surge in foreclosures means more realtors have focused their attention on specializing within this market, so one of the best initial resources to get started on foreclosures is to consult a realtor or broker who specializes in them. Oftentimes these individuals have established relationships with banks and can offer lucrative deals on a bank owned foreclosure property.

If perhaps the buyer wishes to minimize the amount of legwork necessary in hunting down realtors knowledgeable in foreclosures, there are local providers who can send direct messages via email on new properties that have received default notices, for a reasonable fee. Local providers are recommended over national ones since the former usually has more up to date information.

Other resources like the Department of Housing and Urban Development (www.hud.gov) also provide listings on a weekly basis at no cost but regardless of which resource buyers decide to use, knowing how foreclosures work and how to find the best deals among a crowded market brimming with opportunities and risks is the first step towards becoming an experienced, well-informed foreclosure buyer.

Tough times in real estate equal great buying opportunities for people who can (and are willing) to buy South Florida homes. Countless real estate sites have discussed useful tips for buying property in Miami Beach yet they often discuss obtaining the bargains during the negotiation phase as opposed to providing tips on finding property for sale at a discounted price during the initial property search. Here are a few tips to finding a discount before having to discuss price with the seller.

Opt for older listings. Property with the biggest price cuts are often homes that have been sitting idly on the market for three months or more with no buyers. In these cases the sellers have had to bring down their initial price in order to try and attract buyers or remain competitive with newer listings.

Look for homes with necessary repairs. Obviously these kinds of properties require obtaining an inspection report to make sure they’re in livable condition but in most cases, the money that needs to be shelled out in order to bring the home up to par is negligible in comparison to the price the seller is asking to get it off of their hands.

No remodeling. Sellers who choose to remodel will of course sell their property in Miami Beach for a higher price to offset these costs and reflect its new and improved state. Therefore the real discounts will obviously be among homes that haven’t been remodeled. Look for longevity. The general trend shows that homeowners who have owned their Miami Beach home for a longer period of time have increased equity in their property. As a result these people are the ones who will likely list their property for a lower price than a seller who hasn’t owned their property for such a long period.

Keep your options open. Many people are flocking to bank-owned real estate since that’s where all the major discounts are. After all, banks want to rid themselves of these properties as soon as possible, right? While banks do sell for a significantly lower price, they’re still trying to make somewhat of a profit which means they’ll only lower the price to the point where their monetary loss is minimal.

If there's one term in real estate that can spark colorful debate, it's "luxury". Is it the price of a home? Or is it all the extra bells and whistles that come inside or simply the fact that it looks nice to the naked eye? The term instantly conjures distinct meanings for everyone but one thing's for sure: the subjectivity of the "luxury home" concept unveils opportunities for the savvy buyer to acquire luxury property at minimal expense.

In most cases, if a property costs a minimum of a million dollars then it's automatically deemed a luxury property. Ask the average homebuyer or impartial realtor if they believe this sentiment to be true and it's likely they'll tell you that luxury encompasses much, much more than just a seven figure price tag.

A million dollar or more property gives you boastful credibility and yes, the fact that you've just invested in a four bedroom four bathroom property in a "luxurious" neighborhood does perhaps grant you some sort of exclusivity but it really only scratches the surface of how flexible and multifaceted the term luxury is.

Luxury could also be the immediate area where you live. For example, the Gables by the Sea community in the "luxurious" city of Coral Gables has several beautifully elegant homes. The homes themselves ooze extravagance but perhaps what makes them truly luxurious is the serenity and sense of security that only a waterfront gated community offers. Aesthetic and ambiance play crucial roles in making a high-priced luxury listing seem like a plush sanctuary.

Although ambiance and aesthetic are important, one could also argue that ultimately, luxury is being able to say you own a cozy home situated in a safe neighborhood with the best friends, family and neighbors in the world. Considering how important homes are in the roles they play in our everyday lives, luxury should or could be defined not just on a home's numeric value, but also on the joy, security and cherished memories it brings you and your loved ones.