If you don’t think land sale scams happen on 30A, in Walton County, Florida, think again! Listen to the following scenario:

“Ring Ring!” My good client calls. She saw a lot for sale online on 30A, in Santa Rosa Beach, Florida, in a beautiful subdivision just east of Rosemary Beach. I know the subdivision. She knows the subdivision. I’ve sold lots in there before, and so has my client. The price seems low. I dig to find the listing. It’s an outside agent who is not even using our local Emerald Coast Association of Realtors MLS system, so it took me some time.

Next, I thought, “Hmmmm, maybe the price is so low because this agent is not familiar with the 30A, South Walton real estate market. Or… the seller knows something we don’t know. Or… the seller wants to dump it. In any event, my buyer and I knew this would be a multiple offer situation. I sprang to it.

Scrambling to Write an Offer on the 30A lot

“Let’s go over asking price” my buyer requested. I called the listing agent to feel out the situation. Indeed, there were threats of multiple offers coming. I relayed this to my buyer, and she decided to go in even higher. In communications with the listing agent, she said the seller wanted a fast closing and preferred cash, as they were going out of the country. (Land Sale Scam alert – did you notice some of the red flags so far on this land scam?)

Within minutes, I wrote a clean offer, over asking price, with a fast closing and cash terms. The listing agent said it looked like the seller was going to accept it! After a half hour, and no word back, I texted her to follow up. Nothing. Then I called. She said…. “It was a SCAM! It was a FAKE SELLER!”

What? How could this be? I was shocked. I asked the listing agent how she knew. She said the REAL seller called and and said she found out her 30A, Walton County lot was listed for sale online! The problem was, she wasn’t selling it! Someone had assumed her identity and had posed as the seller.

How could this Land Sale Scam Happen on 30A?

“Did you know the supposed seller?” “Did you speak with the fake seller on the phone?” “How did the supposed seller find you?” I questioned the listing agent trying to find out how this happened. She said she had spoken to the fake seller numerous times on the phone. She said they found her through a Realtor lead site, supposedly. I actually have a hard time believing that, and think she was targeted because she was not familiar with the area, so wouldn’t have the right questions to ask.

How Land scammers work the fake sale

The land scam criminals will look for lots with owners out of the local area, who wouldn’t happen to drive by and see a “for sale” sign on their own property. They would pick a neighborhood, like this one on 30A in Santa Rosa Beach, Florida, with out-of-town owners, or a remote area, where noticing the fake seller would be unlikely. They may contact an out-of-area real estate agent who doesn’t know the right questions to ask, but not always. They claim they are going out of the country, and want a fast closing. The prefer CASH. Then they have a fake drivers license to provide to the title agent. They have fake bank accounts. Once the funds are wired to them at closing, they disappear.

how can you avoid a land sale scam?

If you are a real estate agent, and you are contacted by someone who wants to sell a lot, do the following to avoid a land sale scam:

1. Ask why the seller picked you as listing agent? If the answers don’t make sense, take note.
   
2. Ask many detailed questions about the lot. Does it have public water and sewer, have the tap fees been paid, are there any easements, describe the property, describe the view, ask about association dues, association rules and regs, wetlands, environmental issues, zoning, price point, etc. If any answers don’t jive, get suspicious.
   
3. Ask the “seller” to send you a copy of their driver’s license and passport. See if they look fake (like having a birth date that doesn’t make sense). You could also request a Skype or Zoom call.
   
4. Express mail a letter to the address of the owner of record on the property appraiser’s website. That’s one thing the land scam criminal cannot fake. You will get a call back from the real owner if it’s a scam!

To learn more, read these articles about Florida land sale scams and selling lots:

Scam Involving Sale of Vacant Lots

Scammers are Everywhere

How to Sell Your Destin Florida Lot

Selling a Walton County Lot is More Than Sticking a Sign in the Ground

The post Land Sale Scam On 30A Walton County Florida first appeared on Rulnick Realty.

You’ve been trying to sell your For Sale By Owner property in the Destin, Santa Rosa Beach, Niceville of Fort Walton Beach of Florida area for a while, and finally, there is an interested buyer! In fact, you just finished showing your home and he’s standing in the foyer by the door.  He said he really likes your property, and you can tell that he has an air of excitement he is trying to hide…. What should you do?

Here are considerations for negotiating your sale:

1. CLOSING:  You say, “Well, what’s next?” Now be quiet!!!!!!!! You have just asked the buyer a closing question. This is the moment of truth.  Do not say another word, just allow your buyer “think”.  This is a professional sales technique. (Many a sale did not happen due to the interruption of the buyer when he was about to say “yes”.) Good news! The buyer, after an unbearable full minute of quiet, says, “I would like to offer you $530,000 for your home”.
2. GET IT IN WRITING:  The buyer just made a verbal offer. What does it mean? Nothing, really.  Anyone can just toss out a number, but until you get it in writing in the form of a contract, there is no agreement.  The thoughtfulness that goes into a written offer is much more than words at the door.  On a contract, the buyer will have to specify exact financing terms, inspection periods, earnest money amount, closing date, and so on.
3. PRICE IS NOT EVERYTHING: If a buyer offers you your asking price, would you take it? For example, would you still do so if he wasn’t going to close until his house sold?  Or would you take slightly less from another buyer who didn’t have a house to sell? Just a thought!
4. EARNEST MONEY: Would you accept the buyer’s offer if he gave you no earnest money deposit? If you do, and he decides to cancel for no reason, you will have lost valuable marketing time and have nothing to show for it. The buyer has no “incentive” to stay in the contract if there is no  earnest money deposit.  You, on the other hand, have a lot to lose.
5. HOME INSPECTION:  Is the buyer accepting your home “as is”, or will he require you to make repairs? Will repairs be determined by a professional home inspector? What if you don’t agree with the findings, what happens next?  Is the buyer’s repair amount reasonable? Most contracts have a repair limit, a method to counter home inspection findings and a time frame to inspect.
6. FINANCING:  You already obtained a pre-approval letter from the buyer from a local Emerald Coast Destin or Santa Rosa Beach (or Fort Walton Beach) lender, correct? Make sure the time period to obtain financing and terms make sense. For example, you don’t want to allow the buyer 90 days to get a residential loan, that’s far too long.
7. OTHER CONTINGENCIES: There is so much more that goes into an offer other than price. I suggest you review a sample contract in advance and familiarize yourself with it. Then you will be prepared for any possible contingency the buyer may come up with. Believe me, you may be surprised!

For more tips on selling your For Sale By Owner property or a sample contract, give me a call!

“It’s Wendy… It’s Sold!”

Wendy Rulnick, Broker,  Rulnick Realty, Inc.
850-650-7883 ext 204
email itswendy@rulnickrealty.com

The post 7 Tips for Negotiating Your “For Sale By Owner” Contract first appeared on Rulnick Realty.

Here are 25 costly mistakes Destin Florida Home Buyers make. Buying a home along Florida’s Emerald Coast — whether in Destin, 30A, Niceville, or Fort Walton Beach — is an exciting step. But it’s easy to overlook important details that can cost you money, time, or your dream home. Below are 25 common mistakes I’ve seen Destin Florida home buyers make, and how you can avoid them.

Due Diligence Mistakes by Destin Florida Home Buyers

Not doing a home inspection.
Never waive this step. Skipping a professional inspection could expose costly surprises. That goes for getting a survey for a lot purchase and perhaps wetland study. Home inspections are useful also for new construction like punch list items, and remodels. You never know what’s lurking behind a nice finish!

Not understanding the Destin Florida home inspection report.
Getting the inspection is only half the battle. You must read and ask questions to fully understand what needs attention. Some inspectors red flag everything, but it could be normal maintenance and they are covering their potential liability. Or contrarily, the inspector might recommend a specialist, for example, a visual sewer inspection, or separate inspections for pool, mold, septic, lead and so on. If there is a concern, take the extra step. Note: in Florida there is almost always a wood destroying organisam inspection (called WDO).

Not planning for upcoming maintenance.
Think long-term. Will the roof need replacing in five years? Is the A/C unit nearing the end of its life? If it’s likely that you’ll be spending $25,000 within three years, can you swing it?

Not researching what you can do to the Destin property
Don’t assume you can add a fence or build a shed without knowing the restrictions. Some subdivisions don’t allow sheds at all, or you might need a permit for a fence and have to abide by height and type limitations. The city or town probably has building codes you should be aware of if you are already thinking about adding an improvement after you buy your new property.

Not reading Destin homeowner association or condo association documents and financials.
If it’s a condo, you have seven business days to evaluate budget, reserves, any Structural Integrity Reserve Study, Milestone Inspection, and rules. Use that time to investigate thoroughly.

Not checking homeowner or condo association newsletters or websites.
They often reveal issues or disputes you won’t see in the glossy brochure. For example, one subdivision I know continually has the front access gate broken. It’s been an ongoing problem for years. You may find a reference to that on the association web page, but nowhere else.

Not researching future Destin neighborhood development.
That quiet lot next door might become a new commercial zone or a traffic circle might be going in right in front of your house. I know of a buyer this happened to, an investor who thought it would be an easy “flip”. It wasn’t, and he lost money. Know what’s coming.

Not considering problematic property features.
Buying a two-bedroom home when most buyers want three or four, or a home with a steep driveway that’s hard to navigate, may affect resale if you decide to sell – even if you think it’s your forever home. Often, it’s not.

Not investigating encroachments.
You might be fine with that fence from next door crossing your boundary line, but the next buyer might not be. Think before you sign off on this at closing to prevent a problem later.

Not driving around the Destin neighborhood at different times.
Visit in the evening and on weekends. A neighbor’s barking dog, five-car driveway shuffle, or neighbor’s wood shop operating all day might make a difference in your lifestyle.

Financing & Documentation Pitfalls of Destin Florida Home Buyers

Not getting pre-approved before shopping.
Sellers take you more seriously when you’re already vetted by a lender. Some won’t even consider your offer until they see your pre-approval letter. And you will actually know what you can afford to buy.

Not knowing where your down payment funds will come from.
Delays or confusion here can sink your deal. If you have to wait for stock funds, maturing CD’s, borrowing from your retirement account, or other monies, it could be a problem.

Not understanding your closing costs.
Get an estimate from the title agent for the most accurate (if not exact) figures. Your lender provides and estimate, as well. Budget for those closing costs early. Know what they are for. If you don’t, ask questions.

Not providing required documents to your lender quickly.
If you don’t comply fast with the extensive document list your lender wants, it could delay your closing. Sellers may not grant you extra time if you delay behond contract parameters. You could also lose a rate lock, you could be in default of the contract, you can lose the sale. It’s not fun dealing with paperwork requests, but it’s necessary.

Contract & Legal Oversight Errors by Destin Florida Home Buyers

Not reading the contract, counter offers, and addenda.
Don’t just skim. These are legally binding documents. Clicking through an e-sign document is easy, but it’s prudent to know what you are signing. If you have detailed questions, you should consult with an attorney.

Not knowing the deadlines in your contract.
Yes, your Realtor should track them—but you should too. Then you won’t be caught scrambling or make last minute, unresearched decisions, or find you’ve run out of time to fulfill a contingency, like an inspection deadline.

Not doing a pre-closing walk-through.
This is your final chance to confirm the Destin home is in agreed-upon condition. If you skip it, you might find the seller left personal property, or took items that were supposed to remain (like the time a seller removed the shed!), or, horrors, there was an unknown water leak that no one knew about!

Communication Failures of Destin Florida Home Buyers

Not asking your Realtor questions.
There’s no such thing as a dumb question when buying a home.

Not telling your Realtor you don’t understand something.
Silence can lead to costly misunderstandings. Don’t just nod your head, in person or on the phone. Ask. I love it when my clients ask questions! It’s fun! Really!

Not reading critical emails.
Title agents, lenders, and Realtors send vital information via email. Don’t ignore it. Countless times, I’ve had buyers or sellers state they didn’t know something that I sent them clearly in an email. Many simple don’t read.

Emotional or Strategic Missteps by Destin Florida Home Buyers

Not shopping around for homeowner’s insurance.
Premiums and coverage vary widely. Compare.

Not buying rationally.
Falling in love with a Destin home or condo on impulse may blind you to serious flaws.

Not being decisive after going under contract.
Overanalyzing after signing can sabotage your own deal and make you sick with worry. It is undeniably exciting and does generate stress when you are buying your own property. Flow with it and enjoy!

Not making a competitive offer.
Lowballing can backfire, especially in a competitive market. Someone else might scoop up your dream home. If you want it – go for it!

Final Thoughts

Avoiding these 25 costly mistakes Destin Florida home buyers make won’t just save you money—it could save your deal. Buying a home is both emotional and contractual. Stay informed, ask questions, and partner with a Realtor who won’t let critical details slip through the cracks. Ready to make a smart move? Let’s talk.

The post 25 Costly Mistakes Destin Florida Home Buyers Make first appeared on Rulnick Realty.

The latest data for the Emerald Coast of Florida’s real estate market including Destin, 30A, Niceville and Fort Walton Beach shows a shift underway in our real estate market—and it’s worth unpacking what that might mean if you’re thinking of buying or selling.

📊 Inventory is Up, Sales Are Down

Active inventory in the Emerald Coast real estate market climbed to 3,663 single-family homes, an 18% increase from last year. At the same time, closed sales dropped 13%, and new listings dipped slightly by 2.4%. Months supply? Up significantly to 7.2 months, compared to 5.8 a year ago. (Months supply, also called “Months inventory” is one of my favorite statistics. It shows how long it would take to sell all the current inventory at today’s rate of sales. So, if it’s a slower (longer) market, months inventory increases.)

In short: more homes on the market, fewer are selling.

💲 Prices Are Pulling Back

The average sale price in the Emerald Coast real estate market including Destin, 30A, Niceville, and Fort Walton Beach, dropped 12% to $755,759. This is a notable year-over-year decline in a market that had previously seen aggressive price growth. Buyers are gaining leverage. Sellers are facing a longer runway to close.

🧠 What This Means for You

• For Sellers: You must price competitively. With more options available, overpricing could lead to your home sitting unsold while others grab attention.
• For Buyers: Opportunity is increasing. Inventory is up, prices are softening, and longer days on market can translate into better negotiations.
• For Both: Despite the shifting landscape, demand hasn’t vanished. Pending sales actually ticked up 3.3%—a sign that well-priced, well-prepared homes are still moving.

📈 My Price Forecast?

If inventory continues to outpace demand, further downward pressure on prices is logical in the Emerald Coast real estate market, including Destin, 30A, Niceville, and Fort Walton Beach, particularly for homes that aren’t turnkey. That said, I don’t predict a crash—just a return to balance, or even a slight buyer’s market. Think strategic pricing and thoughtful upgrades, and purposeful planning.

Ready to make your move?
It’s Wendy… It’s Sold.

The post 🔍 Emerald Coast Real Estate Market NOW – Destin, 30A, Niceville, Fort Walton Beach first appeared on Rulnick Realty.

Do you want that house? You can bet others do, too. Chances are that when you make an offer on a Destin, Emerald Coast of Florida, house or condo, there will be at least one competitor trying to outbid you. If you had your agent ask the right questions first, you could only hope that the seller would pick your offer.  But you may have another option.

Florida Realtors has just released an official “Escalation Addendum” for use with the Florida real estate contract (either the FR/BAR, CRSP, commercial contract, or vacant land contract). An escalation addendum, or escalation clause, states that the offer price will automatically go up if certain conditions are met. By using this new addendum, you may potentially outbid the highest competing offer up to an amount you specify.

How does the Florida Escalation Addendum work? Let’s look at an example:

1. Your agent found you a home in a very popular neighborhood, for example, in Bluewater Bay. Houses stay on the market there for less than a day, and most sell for over asking price. It’s a huge military and retirement community that has a very fast real estate market.  You’ve been looking for weeks and this is the house!
2. Let’s pretend the house is listed for $500,000. With the advice of your agent, you are going to write an offer for $515,000.  The only catch is, there will likely be a dozen competing bidders, all of them submitting by the offer deadline. You decide that your maximum price in this situation would be $530,000, or $30,000 over asking price. You don’t, however, want to offer $530,000 initially and give all your  money away if you don’t have to.  That’s where the escalation addendum comes in.
3. The Florida Escalation Addendum would specify the amount by which you are willing to increase your offer over a competing offer.  For example, you could state you would be willing to pay $5000 over another offer.  If the highest offer was $520,000, your offer would change to $525,000.  If the highest offer was $527,000, your escalation addendum stated you would not go over $530,000, so that would be your highest offer- not $532,000. Does that make sense?

What are the Florida Escalation Addendum’s stipulations?

1. The Competing Offer that the seller may choose to show you (with buyer’s name redacted), must still be in effect. In Florida, offers have an expiration date.
2. The Competing Offer must be bonafide. The seller cannot have trumped up a fake offer to entice you to offer more.
3. You must specify if you will pay cash or finance any increased amount. You must show proof of the ability to do so along with the addendum.

What’s the catch?

There are several. First of all, the seller does not have to respond to your Escalation Addendum. It can be confusing and gimmicky. They may ignore your offer, or simply counter offer you without regard to your Escalation Addendum.  Why would they not outright counter with the maximum price you stated you would pay? On the other hand, “price” may not be the most important criteria to the seller.  They may like the terms of another offer better, even though the purchase price may be less. They might like the structure of another offer better. The seller may choose to simply ask for the “highest and best” offer from all parties. There could also be multiple offers with escalation addenda. What a mess!

Should you use the Florida Escalation Addendum?

It’s a matter of style. Some buyers prefer a more straightforward approach, rather than using a potentially confusing clause.  If you know what your highest offer is, why not just offer it?  Your agent should also ask the listing agent if the seller would be receptive to such an offer.

If you choose to use an Escalation Addendum, I recommend using the Florida Realtors’ addendum.  Previously, some Florida real estate agents would scribble something they made up to formulate an “escalation” clause. This was risky, because a real estate agent is not an attorney, and constructing complex clauses is not a good idea without legal advice.  The official Escalation Addendum is a form you can have confidence in, should you choose to use it.

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-259-0422
Email Wendy: itswendy@rulnickrealty.com

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.

The post Want That House? How to Beat the Other Offer – Florida Escalation Addendum first appeared on Rulnick Realty.

“Dear Wendy,
I want to buy a neighbor’s house in pre-foreclosure. Can I to take just take over his mortgage payments?”

This investor emailed me to ask me how he could go about becoming the owner of the house.  The Destin, Florida area property was not listed for sale, and the buyer had just found the info through public records.

Here’s what I wrote:

If it is pre-foreclosure, the owner is behind in their mortgage payments. Their lender may have offered them a temporary reduced payment plan, or a period to catch up (*called forbearance).  Normally, to assume someone’s loan, that must already be stipulated as a possibility in the person’s mortgage.

It’s not common to have an assumable conventional loan, but it is a possibility for VA or other government loans.  In that case, the new (replacement) borrower would still have to go through the loan qualification process.  I don’t see that as a likely scenario for these owners to get bailed out.

The other option is for you to offer to just buy the property from them. Go directly to the owners and make an offer.  If your offer is enough to cover their mortgage and closing costs, then maybe they would consider it. 

If it’s less than their payoff amount and they want to accept your offer, it would be a “short sale”. Normally a lender won’t take a “short sale” without the real estate being placed for sale in the open market with a licensed real estate broker and exposed so that the lender knows top dollar is being pursued.  The lender may also have an appraisal done.  I am sure there may be some exceptions, but I have never seen that.

Do you have more real estate questions? Do you need to sell because you cannot make your mortgage payments?

Reach out and follow me!

The post Can I take Over Payments to Buy Pre-Foreclosure? first appeared on Rulnick Realty.

Higher mortgage rates heading to 8% are significantly affecting the borrowing ability of home buyers along the Emerald Coast of Florida.

Mortgage rates were about 3% just 24 months ago.

Here’s how the higher rates affect borrowers along the Emerald Coast of Florida.

For every $100,000 borrowed at 3%, the principal portion of the mortgage payment would have been $421 per month.  At today’s rates of 7.75%, the principal would be $716.  Effectively, the principal payment is more than two-thirds higher.

Here’s an example. Someone borrowing $500,000 at 7.75%, may pay $4000 a MONTH for their total mortgage payment, including tax and Florida’s high insurance costs. At 3%, the rate from late 2021, the payment would have been $2608. So, that’s about $1400 more per month. Hard to take.

In addition, at today’s rate, instead of qualifying for $500,000, they would only qualify for $363,000.

How does that affect the real estate market on the Emerald Coast of Florida?

Sellers who previously thought of selling are holding off putting their houses on the market unless they have to move. If they are currently paying a low rate, like 2.75 or 3.25%, they would be able to afford a much lesser house with the year-over-year home price increases and today’s high interest rates.  So, they are hanging on.  Buyers who are renting may prefer to continue to do so, since their borrowing ability is greatly reduced.

Home prices have been affected somewhat, depending on the specific market. There is still an undersupply of homes in the U.S. for primary residents (owner occupied homes).  Short-term rental properties and resort properties are different, so those prices are affected more, as purchase of this type of real estate is a luxury.

One way to help with mortgage affordability is to use a rate buy down.  A rate buy down is a payment to the lender (points) that may temporarily lower the interest rate. 

For more tips on home selling and buying on the Emerald Coast of Florida, follow me.

The post high Mortgage rates affect Home Buyers On the Emerald Coast first appeared on Rulnick Realty.

This week I dealt with two agents offering a startling contrast in styles.  Sort of like “vinegar” and “honey”.

Agent Vinegar Tactics during negotiations:

“Your seller must not really want to sell.”

“How many offers have you had so far?”

“It’s not priced right in the first place.”

Agent Honey Tactics during negotiations:

“I am not Houdini, but I’ll try to do magic!”

“I’ll do the best I can to make this work.”

“Thank you!”

Which agent do you think will be more successful negotiating for their client?  Both are representing their buyers with low offers.  Agent Vinegar’s approach is an aggressive attack.  It is meant to show the listing agent that the house was overpriced and the listing agent could not sell it.  Agent Honey shows he is approachable and calls for empathy.

Agent Vinegar will probably get the listing agent defensive and build up a wall.  Remember, agents are not automatons, they are human.

Agent Honey will probably get the listing agent to act like a teammate to get the deal done.

Which agent are you?

It’s Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call 850-259-0422

Email Wendy: itswendy@rulnickrealty.com

The post How Do You Negotiate? Like Vinegar or Honey? first appeared on Rulnick Realty.

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.
Call 850-259-0422
Email Wendy: itswendy@rulnickrealty.com

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.

Parlo italiano.

The post Picky Agent Saves Buyer Money – Okaloosa Island – Destin, FL first appeared on Rulnick Realty.

Lotto winnings down in flames in fire after house purchased with no Destin Florida homeowners insurance.

A lucky Santa Rosa Beach Florida lady won one million dollars recently with a scratch-off Florida lottery ticket. She took a lump sum payment, and it turned out to be about $500,000 after taxes. Then she bought her dream house in Destin for $400,000 cash. Sounds great, right? Except for one thing. She never bought homeowners insurance. She had already spent the remaining $100,000. She had no reserves.

The house burned the day she moved in. There was an estimated $150,000 in repairs needed and she doesn’t have the money to repair the damage to the kitchen, including appliances, drywall, and smoke damage.

Stunning. Shocking. How could this happen?

Well, you don’t need to buy homeowners insurance if you don’t have a mortage on your Florida real estate. Lenders, however, do require you to get insurance to protect the investment they have in your property if you get a mortgage.

If you pay cash for your Destin Florida home, then it’s up to you to protect your own investment. If you don’t get homeowners insurance, then you take the risk that if something happens, like this Destin fire, you will be financially able to have your property repaired. In addition, without insurance, you are also running the risk that if someone gets hurt on your property you may be personally liable for any damages and medical bills.

Destin Florida Homeowners Insurance Costs

The average cost of homeowners insurance in Okaloosa County is $2797, and in Walton County it’s $4337. If this lotto winner had paid that relatively small amount, her repairs would have been covered, less her deductible.

How many Florida homeowners don’t have insurance? 13% of Florida homeowners do not carry insurance and own their properties outright.

Finally, I have to question whether or not this Destin Florida home buyer got advice or encouragement to buy a homeowners insurance policy. In the end, it was her decision, but I would strongly encourage all homeowners to get insurance.

Read also:

“You’ve Been Cancelled – The Dreaded Florida Homeowner Insurance Letter”

“Yikes! Our Florida Homeowners Insurance Just Doubled!”

The post Destin Fire – No Homeowners Insurance! first appeared on Rulnick Realty.