On the Job Training...

September 11, 2008
Lynnsy Logue The Real Estate Lady and Condo CanDo in Charlotte, NC
Being a Condo Specialist Is Great Training…We learn to dig deeper, question more, verify more. We uncover all he problems we can…the mold, the radon, the documents that forbid a pick up truck over a certain size and weight, the different mortgage products, the various insurance options or requirements. Condos require a little more inquisitiveness, a little more tenacity.And this is great training because this week and last we have been knee deep with transactions that have required both of us to leave no stone unturned when it came to purchasing a vacant lot at the lake. The purchase would involve the ability of the purchaser to build a pier. No small task with permits from Duke. And flood insurance.And to secure a mortgage. And to research all the comps of vacant lots whether they were purchased as extra lots with a home adjacent…or the purchaser could buy a home already built on the lake. So we previewed, assessed piers and parking pads and retaining walls and crawl spaces.The second transaction involves the purchase of a home with a seller rent back for up to a year. Is it a second home or an investment? How do we look at repairs that might be needed during the rent back? Meanwhile, we prepare the buyer’s current home for the market with the flurry of wallpaper being removed, painting underway, window cleaners afoot, furniture going to a storage unit. And we are also dealing with an assortment of mortgage originators, appraisers, attorneys, and agents. Some fun to work with, some slippery. We compare notes, and plan every step of each process together. Our custom is to work by the book, observe the protocols.Working with condominiums teaches that what appears to be often isn’t. Knowing that helps us with homes and piers on the lake, 2nd homes, investment homes…and we focus on another segment of our broad market.Sometimes people ask if we just do condos…liking the complexity of condominiumshelps hone our skills for the rest. We enjoy our playing field.

Lynnsy Logue The Real Estate Lady and Condo CanDo in Charlotte, NC