Check the Dates Before you Buy

By
Real Estate Broker/Owner with M & M Realty of Brevard Inc. BK629999

    

Dates are So Important to BuyersBuying Brevard County Real Estate

When you look at a listing on a property for sale, and it says "Newer" what does that mean?  Is 'Newer' 2 years, 3 years or could it be 10 years old? 

When looking at houses, dates are important. Realtors like dates. Buyers like dates. Lenders and insurance companies like dates. Do sellers like dates, too?  Some do. We like to know the date a house was built, the date the kitchen was remodeled,  the age of the air conditioning system, the water heater, and the date the 'newer' pool pump was replaced. Insurance companies are pretty specific about the dates they need.  They want to know how old the roof is, has the electrical system been upgraded, how about the plumbing and are there updated windows?  What's the age of the 'newer' garage door?  Providing the correct dates can provide substantial discounts, in some situations on a homeowner's insurance policy. 

Sometimes these dates slip away from sellers.

In selling a house it's important that a seller have all of that information to pass along to a buyer. If items have recently been updated or replaced those are items that should be included in the notations of the property listing or on the seller's property disclosure. These dates often help a prospective buyer in making a decision on whether or not to proceded ahead on a house.

On traditional sales sellers fill out a property disclosure, noting any defects they are aware of.   And they are asked about dates of when that newer roof was installed.  Sometimes questions come up. With proper documentation and receipts there's no question as to the age of the roof, air conditioning system, appliances or hot water heater.

It's beneficial when owners gather all those important papers and keep them in a handy place to be able to pass along the information they have to new buyers.  In an ideal scenario a seller can pass all of that information along to help seal the deal for the buyer.  Unfortunately, that's in a perfect world.

I understand using the word "newer" on a property listing. But, 'newer' can be a relative term.  I think that means in the last couple of years.  Find out what newer means. I looked at a listing a while back that was advertised with a 'newer' air conditioning system. When I asked how old it was the agent had to get back to me, and finally told me it was 13 years old.

NOTE: On foreclosed properties, there are no warranties, no property disclosures and no documentation. The sellers that owned the property are gone. And, the banks selling the properties do not have any of these records.

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Rainmaker
1,515,897
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

Remodeled kitchen is the one that I love... a 40 year old house remodeled in the 80s is still "dated" but remodeled sound so much better!

Jul 16, 2013 09:58 PM #1
Rainmaker
4,797,261
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Great post Sandy. A buyer typically thinks newer is in the past few years, while a seller thinks newer is something they did in the last 10 years or even older.

But, I guess it's all relative.  As homes in Greece can be considered newer if they were built less than 1,000 years ago.  :-)

Jul 16, 2013 10:25 PM #2
Rainmaker
671,701
Sandy Shores FL Realtor®, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County Real Estate, Florida's Space Coast

Gary, It really is a relative term isn't it?  I like when it says roof 2010.  Then there's no room for interpretation.

Jul 17, 2013 01:45 AM #3
Rainmaker
671,701
Sandy Shores FL Realtor®, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County Real Estate, Florida's Space Coast

Hi Gabe,

I agree with you, it's all in the perception of the person that is reading the info. It's best to research to get exact dates.

Jul 17, 2013 01:47 AM #4
Rainmaker
1,002,758
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Sandy, I just dealt with an imaginary "newer" home built in '04.  I thought that that was a stretch too.  Hope your Summer's going great!

Jul 17, 2013 06:40 AM #5
Rainmaker
4,797,261
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

And back up those dates with documentation.  I've seen sellers' estimates of the age of some appliances and repairs that were off by 5 years.

Jul 17, 2013 10:30 PM #6
Rainer
34,872
Troy Huerta
SRE Technologies - La Jolla, CA
Changing the way Home Buyers BUY!

Great advice; it's good to use accurate dates.  If they don't fit in the MLS, then there is always room in the disclosures!  (California forms provide room to disclose improvements, etc.)  Thanks for the blog!

Sep 07, 2013 10:16 AM #7
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Rainmaker
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Sandy Shores FL Realtor®, Melbourne Real Estate

Brevard County Real Estate, Florida's Space Coast
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