Monthly Archives: August 2018

How to Buy a “Spec” or Model Home

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What should you expect when you Buy a “Spec” or Model Home from a builder?

A model home features upgrades to show the builder’s floorplans to advantage. If you can wait until the builder sells all their inventory, you may get the model at the initial offer price and with more upgrades than other homes in the neighborhood.

A “spec” home is move-in ready. The clock is ticking on the builder’s bank loans, materials and labor, so if you’re preapproved by a lender and have no contingencies to delay closing, you can move in quickly.Buy a “Spec” or Model Home

Many builders have their own contracts, so you should be represented by your Berkshire Hathaway HomeServices network professional. Builders won’t negotiate price because of other homes in the subdivision, but your agent may be able to negotiate free or at-cost upgrades like adding a fence or back yard sod. The agent can help you negotiate better terms, see you through inspections, and make sure the builder performs as expected.

Shop for new homes with your real estate agent. If you can’t, inform the builder or their in-house salesperson that you’re represented and offer your Berkshire Hathaway HomeServices network agent’s contact information. Builders won’t pay the agent’s commission if you bring them in after you’ve already toured the model or spec home.

All About Contingencies: BHHS Hodnett Cooper Real Estate

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All About Contingencies

As you browse listings on BerkshireHathawayHS.com or realtor.com, you may find homes you like that appear to be unavailable, due to some kind of contingency. If you find the perfect home, but it’s labeled Active Kick Out or Contingent, should you pursue it or forget it?

The reality is that contracts fall through sometimes. If you have a back-up contract, you can buy the home should it come “Back on Market” or “BOM.”All About Contingencies

Active kick out
Active kick out means the seller has accepted a contingent offer, such as the buyer has a home to sell before they can close on the seller’s home. The seller can reserve the right to accept a better offer and “kick out” the previous buyer. They must give the first buyer 48 to 72 hours to either remove the contingency and move forward with the purchase, or back out of the contract.

Contingency
Nearly all offers-to-buy have contingencies. Typical contingencies include provisions that the home must meet the appraised value by the mortgage lender’s third-party appraiser, or it must pass a professional third-party home inspection to the buyer’s satisfaction. The buyer may make the contract contingent upon the lender funding the purchase.

Option period
Option periods give the buyer time to get financing and complete home inspections and the appraisal. Unless the buyer acts on a contingency, the home is considered out of option but it can still fall out of escrow.

To learn more, contact your Berkshire Hathaway HomeServices network professional.

Berkshire Hathaway HomeServices Hodnett Cooper Real Estate : George Skarpalezos Earns Two Awards for the State of Georgia

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George Skarpalezos earns two Berkshire Hathaway Homeservices’ awards for the State of Georgia.

#GoodToKnow

 ST. SIMONS ISLAND, GA (August 14, 2018) – Berkshire Hathaway HomeServices Hodnett Cooper Real Estate announced today that George Skarpalezos has been named as a second quarter 2018 recipient of two awards with Berkshire Hathaway HomeServices: 2nd Place in the State of Georgia for total GCI, and 3rd Place in the State of Georgia for Residential Units.Berkshire Hathaway HomeServices Hodnett Cooper Real Estate

George Skarpalezos was recognized at the company’s August Sales meeting by Pat Hodnett Cooper, President and Broker of Berkshire Hathaway HomeServices Hodnett Cooper Real Estate.  “George is simply unbelievable.  He has this constant drive to be the best Realtor he can be, which makes him a top-producer in our market and in the Berkshire Hathaway HomeServices network.  We are recognizing George for his outstanding work ethic, but the real winners here are his clients; he works tirelessly for them.”

“We are incredibly proud of George Skarpalezos for these achievements, which highlight his exceptional sales results for the second quarter of this year. He is truly dedicated to his clients and provides top-notch services throughout the home buying and home selling experience.  George is a big part of what makes our company the best in the Golden Isles,” shared Missy Neu, Vice President of Business Development.

Berkshire Hathaway HomeServices Hodnett Cooper Real Estate, which is independently owned and operated, became a member of the Berkshire Hathaway HomeServices brokerage network, operated by HSF Affiliates LLC, in 2017. Since that time, the company and several of its Realtors have earned a host of honors and awards.

About Berkshire Hathaway HomeServices Hodnett Cooper Real Estate

Hodnett Cooper Real Estate is a family-owned and operated company with four offices throughout the Golden Isles offering a full range of real estate services including real estate sales, residential rentals, property management and commercial sales. The brokerage is the premier real estate company in southeast coastal Georgia with a professional and diverse team of agents. Visit www.BHHSHodnettCooper.com.

About Berkshire Hathaway HomeServices

Berkshire Hathaway HomeServices, based in Irvine, CA, is a brand-new real estate brokerage network built for a new era in residential real estate. The network, among the few organizations entrusted to use the world-renowned Berkshire Hathaway name, brings to the real estate market a definitive mark of trust, integrity, stability and longevity.

About HSF Affiliates LLC

Irvine, CA-based HSF Affiliates LLC operates Berkshire Hathaway HomeServices, Prudential Real Estate and Real Living Real Estate franchise networks. The company is a joint venture of which HomeServices of America, Inc., the nation’s second-largest, full-service residential brokerage firm, is a majority owner. HomeServices of America is an affiliate of world-renowned Berkshire Hathaway Inc.

Contact:

Catherine Maybank
(912) 638-5450
catherine@hcrega.com