The Anna Maria Island Sun Newspaper

Vol. 14 No. 30 - May 21, 2014

REAL ESTATE

Buying a lifestyle

 

Everything is negotiable, especially in real estate, but if your buyer wants your grandmother’s tea pot collection should you include it in the sale? If your home is being marketed as turnkey ready then the answer may be yes.

ZipRealty, an on line real estate brokerage company, defines turnkey as homes that don’t require any major repairs or renovations. In addition, turnkey could mean that everything in the house comes with the sale – furniture, art, silverware, linens, dishes and just about anything else. Basically buyers who want to buy a home that is totally turnkey are actually buying a lifestyle, your lifestyle.

According to the Los Angeles Times, fully appointed homes are the latest fad in the ultra-luxury market, especially celebrity homes, which come with instant bragging rights, convenience and style.

There are plenty of buyers who are looking for homes that they can close on Tuesday morning and sleep in on Tuesday night and are willing to pay the extra money to make that happen. Do these buyers just want a fresh start or are they too busy or lazy to set up a new home? Whatever the reason, turnkey real estate transactions aren’t going away and are crossing over all price ranges.

Certainly sellers are not particularly opposed to selling homes with their contents and are more than willing to leave sheets, towels, drapery, pots and pans, magazines and houseplants. They may look at it as a fresh start, particularly if they’re retiring or relocating to a different part of the country, where shipping household items can become very expensive. Uncle Jack’s grandfather clock may lose its sentimental value once you see how much it costs to move, especially if the buyer just loves the way it looks in the entrance hall.

Vacation and second home properties frequently sell as all inclusive more often than other homes. Understandably, second home buyers tend to own multiple residences and don’t want to take the time to outfit a home. This is certainly the case on Anna Maria Island and in many other areas along both the east and west coasts of Florida. In recent years right here on Anna Maria, there has been an increase in new or renovated rental condo ownership properties, which are sold totally inclusive with all kitchen equipment, linens, outdoor furniture, barbeques and even beach towels.

However, purchasing or negotiating an all inclusive sale can be tricky. It is recommended that each item be inventoried and included in the sales agreement and contract, and don’t leave anything to just a handshake or oral confirmation. Imagine the buyers coming for their final walk-through before the closing and the antique dining room table they thought they heard you say was staying is gone. In the case of a vacation rental property, an inventory of every item may be a little too detailed, but at the very least the sales contract should include a broad range of items being included.

A lot of real estate professionals and attorneys discourage their clients from including the contents of the property in the sales price and recommend contracting separately for these items.

It would make the property sale less murky, and since personal property left in the home is not included in a property appraisal, there is no financial benefit to the buyer.

I guess if you want an instant lifestyle, sleeping in someone else’s sheets won’t seem so weird and will save you the trip to Bed Bath & Beyond, but you should probably draw the line at the gold fish and baseball trophies.

Real Estate Transactions
Real estate transfers as of October 1-31, 2013
Sponsored by Alan Galletto Island Real Estate

Sold Date | List Price | Sold Price | Address | Provision | Property Style

Anna Maria

01/03/2014 1,400,000 1,400,000 107 Beach Ave. 2789 150x100 4 Br/3 Ba SFR
01/06/2014 895,000 800,000 806 Gladiolus St. 2250 69x100 3 Br/3 Ba SFR
01/06/2014 317,000 470,549 205 Elm Ave. 1203 52x110 2 Br/2 Ba SFR Reo
01/06/2014 749,000 683,000 517 Magnolia Ave. 2219 75x115 4 Br/2.5 Ba SFR
01/10/2014 989,000 910,000 213 Spruce Ave. 937 105x100 2 Br/2 Ba SFR
01/22/2014 1,495,000 1,450,000 203 Spruce Ave. 696 2 Br/1 Ba SFR
01/24/2014 850,000 849,900 113 Gull Dr. 2447 91x100 3 Br/2 Ba SFR
01/29/2014 522,000 465,000 8806 Gulf Dr. 936 50x100 2 Br/2 Ba SFR
01/30/2014 510,000 502,000 524 Blue Heron Dr. 1653 3 Br/2 Ba SFR
01/30/2014 1,345,000 1,325,000 214 Spring Ave. 3189 52x145 6 Br/5.5 Ba SFR

Bradenton Beach

01/31/2014 425,000 385,000 252 17th St # 252 1268 2 Br/2 Ba Condo
01/02/2014 289,000 282,000 1801 Gulf Dr N # 238 1080 2 Br/2 Ba Condo
01/31/2014 635,000 617,500 2300 Avenue B 2832 50x100 4 Br/4 Ba SFR
01/16/2014 259,900 259,900 2515 Avenue C # A 1584 50x100 Inc.
01/31/2014 635,000 617,500 2300 Avenue B 2832 50x100 Inc.
01/10/2014 297,777 290,000 200 22nd St . 50x100 Vac.

Cortez

01/13/2014 439,000 400,000 4207 126th St. W. 3412 100x100 4 Br/3 Ba SFR

Holmes Beach

01/02/2014 330,000 315,000 5808 Gulf Dr. # 206 912 2 Br/2 Ba Condo
01/08/2014 375,000 330,000 6250 Holmes Blvd. # 65 1206 3 Br/2 Ba Condo
01/14/2014 392,900 366,250 6400 Flotilla Dr. # 96 985 2 Br/2 Ba Condo
01/16/2014 359,900 347,000 600 Manatee Ave. # 136 1179 2 Br/2 Ba Condo
01/23/2014 318,000 283,000 201 35th St .# 5 630 1 Br/1 Ba Condo
01/27/2014 279,000 265,000 3801 E Bay Dr. # 108 1121 2 Br/2 Ba Condo
01/27/2014 379,000 370,000 6200 Flotilla Dr. # 262 1266 2 Br/2 Ba Condo
01/29/2014 219,900 208,000 3000 Gulf Dr. # 6 756 1 Br/1 Ba Condo
01/03/2014 689,000 671,750 117 51st St. 1536 3 Br/2.5 Ba SFR
01/09/2014 565,000 535,000 502 83rd St. 1728 3 Br/3 Ba SFR
01/10/2014 1,049,000 950,000 509 68th St. 2546 80x102 3 Br/2 Ba SFR
01/10/2014 896,000 725,000 313 61st St. 2374 4 Br/3.5 Ba SFR
01/10/2014 799,000 772,000 213 65th St. 2184 3 Br/2.5 Ba SFR
01/23/2014 399,000 390,000 2819 Avenue B 2332 3 Br/2 Ba SFR
01/24/2014 450,000 450,000 113 31st St. 1682 50x105 3 Br/2 Ba SFR, Reo
01/24/2014 350,000 325,000 502 Bayview Dr. 1214 75x120 3 Br/2 Ba SFR
01/29/2014 598,000 565,000 5606 Holmes Blvd. 1040 3 Br/2 Ba SFR
01/29/2014 775,000 775,000 4118 5th Ave. 2786 6 Br/3.5 Ba SFR
01/31/2014 974,900 907,930 637 Key Royale Dr. 2422 100x151 4 Br/3 Ba SFR
01/13/2014 339,900 275,000 4501 Gulf Dr. # A 1325 1554x800 Inc.
01/21/2014 500,000 450,000 212 Haverkos Ct. 108x110 Vac.

Source: Manatee County Property Appraiser’s Office


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