They say salespeople are not detail oriented. Well, they should be. My picky OCD personality has helped me market, sell, and close many Emerald Coast of Florida properties over the years. Being picky helps the client. Correct representation is imperative. Details can be dollars.
Just recently, this picky agent sold a waterfront condo on Okaloosa Island with a boat slip. Having sold two in the past few months made me dig further when the listing agent said he didn’t know anything about a boat slip transfer fee. I was concerned, because I knew that there were boat slip transfer fees payable to the Florida DEP upon sale of a property. I wanted to tell my buyer what this fee would be. (Calculated at $1,000 x linear foot of the slip x 6% + 7% sales tax ).
The association management company researched the Okaloosa Island condo I was now selling. They said no transfer fee was due on that one, because it was a Florida homestead property, which is a primary residence. I asked for their reference document so I would have it for future use.
I let the title agent know there should be no fee charged to my buyer in this case.
Closing time came. I had to review the preliminary settlement statement, also called a “Closing Disclosure” or “CD”. Well, gosh, there was the boat transfer fee in the amount of $1600, charged to my buyers! This wasn’t correct.
I notified the title agent and provided my documentation. She said the association manager had given her the figures with their estoppel letter. Hold on there.
I contacted the association manager to remind them that there was no boat slip transfer fee because it was a homestead property. They corrected their estoppel letter, the title agent fixed the settlement statement, and the fee was removed.
No one had noticed. Not the lender, not the title agent, and not the very association management company who provided the original information.
If the transfer fee of $1600 had been collected and paid to the State of Florida, I doubt someone would have researched it after the fact to recognize this was a homestead property, and that no fee should have been paid. No one would have refunded that money to my buyers.
That is, if no one had noticed. This picky agent did.
It’s Wendy… It’s Sold!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Email Wendy: firstname.lastname@example.org
Wendy Rulnick, Broker, lists and sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Crestview, Sandestin, Seaside, Rosemary Beach, Okaloosa Island, Fort Walton Beach, Niceville, Freeport, Bluewater Bay, Navarre, Florida.