Are you dealing with probate real estate in Fort Walton Beach or Destin Florida? You will hear a lot of probate legalese tossed about. Here is a quick glossary of terms. Consult with your probate attorney for detailed explanations.

Abatement

A proportional diminution or reduction of the pecuniary legacies, when there are not sufficient funds to pay them in full.

Ademption

When property mentioned in a will cannot be given to a beneficiary because it no longer belonged to the deceased at the time of death. For example, the particular gift may have been destroyed, sold, or given away between the time of the will and the time of death.

Administrator

A person or institution appointed by a court to act on behalf of the deceased person in connection with the administration of a decedent’s estate.

Administrator with Will Annexed (for Administrator CTA)

An administrator appointed by a court to act on behalf of the deceased person who left a will, but where no nominated executor is willing and able to act.

Affidavit

A written statement or affirmation made under penalty of perjury that requires notarization.

Ancillary Administration

An administration of a decedent’s property located in a state other that the state of the decedent’s domicile. Florida will have ancillary probate proceedings when the decedent was resident of another state, but owned property in Florida.

Beneficiary

The individual or corporation who receives the benefit of a transaction (e.g., beneficiary of a life insurance policy, beneficiary of a trust, or beneficiary under a will.)

Codicil

An addition to a will, the codicil may modify, add to, subtract from, qualify, alter, or revoke provisions in the will. The codicil is a separate document. It is signed with the same formalities as a will. The codicil can be changed, revoked, cancelled, or destroyed at any time.

Community Property

Real or personal property that is owned in common by husband and wife as a kind of marital partnership. Either spouse has management and control of the community real and personal property; however, both spouses must join in a transfer of ownership or lease for more than one year of community real property or a gift of community personal property. All property acquired during marriage from earnings, and the earnings themselves, are community property. Property acquired by gift or inheritance is separate property, not community property.

Conservator

The individual or corporation who legally has charge of the care and management of the person, property, or both of an adult who is unable to provide for his own personal needs or who is substantially unable to manage his financial affairs. Limited conservatorships may be established for developmentally disabled adults.

Contingent Beneficiary

One to whom distribution is dependent upon the occurrence of an event.

Declaration

A written statement made under penalty of perjury.

Devisees and Legatees

Persons named by a decedent in his will. A bequest or devise generally refers to real property and a legacy of money or personal property.

Disclaimer

A refusal to accept, for example, a testamentary gift that is made in a prescribed manner and time.

Domicile

The specific location of a person’s permanent residence that determines, for many purposes, the laws that will govern his affairs. A person may have many residences, but he can have only one domicile. The domiciliary proceeding is that created in the jurisdiction of the decedent’s domicile.

Donee

A person who receives a gift from another.

Donor

A person who makes a gift to another.

Escheat

The term which describes the reversion of property to the state in the event a person dies leaving no valid will and no heirs at law surviving him.

Estate Taxes – Federal

The death taxes imposed the federal government on the transfer of assets upon death.

Executor

The individual or corporation appointed in a will by a testator to take care of the testator’s property after his death. Also called a personal representative.

Ex Parte

A judicial proceeding granted without notice.

Fiduciary

A person charged with a high degree of care who acts on behalf of another. Executors and trustees are fiduciaries.

Grantor

The individual or corporation who makes a grant (transfer) of property to another person (e.g., grantor of a trust, grantor of a deed of property).

Guardian

The individual or corporation who legally has charge of the care and management of the person, property, or both, of a child during his minority.

Heir

The person who inherits property under state law.

Inheritance Taxes

The taxes imposed, according to the relationship to the decedent, on the person who receives the property.

Intestate

Refers to someone who dies leaving no will.

Inter Vivos Trust

A trust created “between the living.” The grantor (trustor) is a living person. An inter vivos trust can be either revocable or irrevocable.

Irrevocable Trust

A trust whose terms and provisions cannot be changed, modified, altered, amended, or revoked.

Joint Tenancy

A form of property ownership by two or more persons, often designated as “joint tenants with right of survivorship.” Joint tenants always own equal parts of joint tenancy property. When a joint tenant dies, his or her interest in the property automatically goes to the surviving joint tenant. A JTWROS Deed has language akin to “survival of the fittest.” Whoever is the last to live gets title to the real estate and avoids probate along the way until their own demise. (Florida Realtors reference article)

Life Estate

An interest in property, the term of which is measured by the life of its owner.

Lady Bird Deed or Life Estate Deed

Upon death, the Life Tenant title passes to remainderman, also known as the beneficiaries on the deed. No probate is required.

Life Tenant

The person who receives the benefits from the real or personal property during his lifetime only. The benefits stop when he dies.

Personal Representative

This term describes an executor or administrator.

Power of Appointment

The actual power of legal authority given by the trust or will of one person, the “donor” of the power, to a second person, the “done” of the power, which enables the second person to designate the manner of disposing of the property. A power of appointment may be general or special, as defined below:

General Power

Enables the donee to designate himself, his creditors, his estate, the creditors of his estate, or any other person, as owner of the subject property

Special Power

Limits the done as to the persons to whom he can designate as owners of the property over which he has a power of appointment. The limitation of appointment can be very specific (e.g., to a group consisting only of A’s children) but can never be the done, his estate his creditors, or the creditors of his estate because this would defeat the purpose of the special power, namely, to keep the appointive property from being taxed in the estate of the done on his death.

Pour-over will

A will that provides for the transfer, after or during the probate court proceedings, of all or part of the net assets of a decedent’s probate estate from the executor’s control to the control of a trustee who is in charge of a trust that was in existence immediately before the death of the deceased person (inter vivos trust).

Pretermitted Heir

One who would normally be beneficiary of the decedent but who is not mentioned in the will.

Probate Administration

The legal process whereby a probate court supervises the marshalling of a deceased person’s debts and taxes and orders the property distributed according to decedent’s will, or in its absence, to the deceased person’s heirs. The probate court has jurisdiction over the personal representative and the decedent’s assets.

Real Property

An interest in land or property permanently affixed to land.

Remainder Interest

An ownership interest in property that will become a present interest after the present owner or life tenant has received all the property benefits to which he is entitled.

Residue

The remaining part of a decedent’s estate after the payments of debts and legacies. Also called “residuary estate

Residuary Beneficiary

One to whom all or part of the residue is distributed.

Reversionary Interest

An ownership interest in property that returns to the original owner when the intervening interest expires.

Revocable Trust

A trust whose terms and provisions can be changed, modified, altered, amended, or revoked.

Right of Representation

A method of distribution, sometimes referred to as “per stirpes,” whereby the share of distribution of a deceased beneficiary is divided equally among his children.

Settlor

Another word for grantor or trustor of a trust. The person who “settles” the assets into the trust.

Tenancy In Common

This occurs where there is not a husband and wife scenario (with exceptions), but more of a boyfriend/girlfriend, brother/sister, family members, business partners on the deed.  This type of deed contains no special language for automatic title transfers. Thus, if A, B, C and D are titled on the deed, with no special language, and D dies, in order to sell/convey/transfer, a probate will be required for D. (Reference Florida Realtors)

Tenancy by the Entirety

In the event both husband and wife are alive, and the deed is titled in this manner, if husband dies, title to the real estate transfers over to the wife with the recording of a death certificate for husband. Therefore, no probate is needed. Wife can now sell/convey/transfer.

Testamentary Trust

The trust that comes into being only as a result of the death of a person whose will provides for the creation of the trust after his death, hence, the term “testamentary.” Once in existence, this trust is irrevocable.

Testate

Refers to someone who dies leaving a will.

Testator

The person who signs the will that disposes of his property; testatrix is the female term. It is common as a convenience to use the term testator for either a man or a woman.

Totten Trust

A form of revocable trust, usually a bank account, that allows distribution to the beneficiary upon the death of the trustee, without the need for probate of the asset. Example, John Jones as Trustee for Mary Jones.

Trust

A legal entity established either during a trustor’s lifetime (inter vivos) or at his death (testamentary). The trust is governed by the terms set forth in the trust documents. A trust must have a trustee, a beneficiary, and a “corpus” or property subjected to the trust.

Trustee

The individual or corporation who in a trust has bare legal title to the assets and has the power given in the trust to carry out the wishes of the person or persons (trustor or trustors) who created the trust. The trustee has a fiduciary obligation to the trust’s beneficiaries enforceable in court if not carried out. The trustee is subject to strict regulation. Although he has legal title for convenience, the beneficial or equitable title is in fact owned by the beneficiaries. When there is more than one trustee, the trustees are called co-trustees.

Trustor

The person or persons who establish a trust. There can be more than one trustor.

Uniform Gifts to Minors Act

A law that permits a person (“donor”) to register stock, bank accounts, or insurance in the name of another (“custodian”) for the benefit of one who is at the time a minor (“beneficiary”) without preparing a formal trust document. In effect, the trust document has been written into the law. In so doing, the donor makes an irrevocable gift of the property to the minor, but the custodian holds, invests, reinvests, and applies the property for the benefit of the minor until his majority, at which time the property is turned over to the beneficiary. This is a simple, inexpensive way to make small gifts to a minor.

Will

A document, prepared and executed by a person with the formality required by the laws of the state of his domicile at the time, which is intended to govern and direct the disposition of his estate and settlement of his legal affairs at the time of his death and which has no legal effect until his death. If the document is entirely in the person’s own handwriting, it is called a “holographic will.” If a will is typed, it is called a “witnessed will” because the signing of it generally requires two or more witnesses to testify later, if necessary, that the execution was not procured by fraud, duress, or misrepresentation.

Find more probate real estate broker information in the Fort Walton Beach, Destin area.

Consult with your probate attorney for detailed explanations of terminology.

(© MTI Education C.P.R.E.S.™ Training Program Investors Empowerment Academy, LLC)

The post Glossary of Probate Real Estate Terms first appeared on Rulnick Realty.

WHAT IS A SHORT SALE?

Why would someone have to “Short Sale”? It stems from inability to keep and pay the mortgage for a house, condo, townhome or lot for the following reasons: loss of income due to job loss, relocation,  divorce, medical issues, separation from military, military PCS and more.  These homeowners need to sell, yet have a mortgage that is too high, as their properties were purchased when the market was at its highest. Expensive homeowner insurance costs and association fees for condos in Florida add to the difficulty for borrowers to keep up with their payments. These homeowners also have negative equity, i.e. they owe the lender more on the mortgage than the property is worth. When this is the case, and the borrower needs to sell, one solution is a “Short Sale”.

Definition: A “Short Sale” is when the lender agrees to a accept a payoff for less than the remaining mortgage balance to allow the sale of the property. The lender may forgive the entire shortfall as well as pay the seller’s closing costs including the Realtor fee. The loss is either completely written off by the lender, a payment arrangement is made with the borrower (promissory note), or a lump-sum for a potentially lesser amount is agreed to (cash contribution). The short sale lender may also seek the deficiency from the borrower after the sale. Their will be a written short sale approval that specifies terms at the conclusion of the process.

Why Would A Lender Agree to a Short Sale? Banks don’t want to own your Santa Rosa Beach, Fort Walton Beach, Niceville, or Destin real estate. A foreclosure can cost a lender $30,000 to $60,000. If they take the property back in foreclosure (or deed in lieu of foreclosure), they then have to maintain the property, pay for repairs, market the property, pay utilities, then spend money on closing costs. They would rather do a Short Sale- which saves them carrying and legal costs and generally is less expensive for them. Bottom line – with a short sale, you’ve done the work for them!

Need more information? Contact Wendy Rulnick, Broker, Rulnick Realty, Inc.

850-259-0422 itswendy@rulnickrealty.com

The post short Sale Help on the Emerald coast of florida first appeared on Rulnick Realty.

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.

We’ve moved our real estate office across the street – still on Highway 98 in Miramar Beach, Florida near the Destin line! You can now find Wendy Rulnick, Broker, Rulnick Realty at 12598 Emerald Coast Pky, Miramar Beach, Florida 32550. Give us a call to stop by and say “Hello” at 850-259-0422.

We are looking forward to helping you achieve your real estate goals anywhere on the Emerald Coast of Florida! Our service areas include Destin, 30A, Santa Rosa Beach, Sandestin, Niceville, Freeport, Miramar Beach, DeFuniak Springs, Fort Walton Beach, Walton County, Okaloosa County and Santa Rosa County. Call Wendy Rulnick for a market analysis of your property.

Happy New Year!

It’s Wendy… It’s Sold!

The post Rulnick Realty in Miramar Beach Florida 32550 first appeared on Rulnick Realty.

What’s the square footage of the house or condo you are selling? The size of a property is critical when analyzing price.

There are three ways to obtain square footage:

1. Use property appraiser record. Building size is available on public websites, such as Okaloosa County Property Appraiser, Walton County Property Appraiser or Santa Rosa County Property Appraiser. It’s often subject to error, as “rounding” is commonly used in dimensions by the property appraiser office. For example, if a building length is 41’6″, that number may be rounded to 42′, and so on. The property appraiser measurements may not include all room areas, additions or changes to heated and cooled living space, so watch out for that. For example, if someone better enclosed a Florida room, adding heating and cooling, this may not be reflected on the property appraiser website, so you’ll have to add that space back in.

Hint: Always verify that the building sketch square footage on the property appraiser website reflects all the heated and cooled spaces (that are finished to interior living space standards). There should be a chart or spreadsheet showing which area is attributed to heated and cooled living space, and which is not. I’ve seen many errors on the property appraiser website with these type of errors over the years.

2. Use the square footage stated in original building plan. The building plans are generally reliable, but if changes were made during construction that were not on the plans, the square footage would be off. For condominiums, it’s handy to reference the Declaration of Condominium to determine square footage. You can find the Condo Decs on the Clerk of Courts websites for each county. Normally, the Declaration of Condominium has floorplans of different models in a condo project (like “Elite” model, “Penthouse” model, etc.) and perhaps specific unit numbers, providing the corresponding size from the plans. You can download these pages to document your research. (Sad to say, but many real estate agents simply copy the square footage for their listings from another listing, and don’t do the research.)

3. Licensed Appraiser or ANSI Professional. The licensed property appraiser is professionally trained to measure a building and would have the most accurate results, although I have seen a bit of variation for square footage in different appraisal reports for the same property. You can use an appraisal report of the subject property if you have one, or hire an appraiser to measure it. Appraisers would charge more for complex properties that are not simple rectangles. Only appraisers, architects and ANSI (American National Standards Institute) certified professionals are licensed to measure properties.

Remember to investigate your square footage to accurately price your property.

Other related articles:

Price per square foot? Not the whole story.

Factors Other Than Square Footage in Pricing

It’s Wendy

Wendy Rulnick, Broker
Rulnick Realty, Inc.

The post what’s the Square Footage of your house or condo? 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.

Redecorating… and upholstery! 

We had gorgeous teak chairs long and lovingly used that had been perfect for me and my husband.  Our birdwatching, talking, puzzle-doing, reading chairs.  After twenty years, the fabric was becoming threadbare. I didn’t want to really buy new ones, as these special chairs were wide enough to sit cross-legged, which I love, balance a computer, phone, drink, and even hold a cat or two, on their wide, smooth arms.  The pattern vibed in a colorful style, but you could see through to the cushions especially on “my” chair.  So, should I try to get them re-upholstered? I’d never done that, and hadn’t a clue as to where to start. So I googled and checked Nextdoor for any suggestions for upholstery shops on the Emerald Coast of Florida, and up popped Brian Howell Upholstery in Fort Walton Beach. There were good reviews, too.

I emailed Brian and sent him a photo of the chairs, and he emailed back a quote!  One year later, when I was finally ready after having been distracted with other decorating projects, we went down to meet him – one cushion in hand.  I thought he might have three books of fabrics, but, I was shocked. He had thousands of samples in his shop at 123 McGriff St., Fort Walton Beach, Florida! 

Brian cracked up as I directed my husband to “Start looking!”, and Hubby stared helplessly around the room at the hundreds of fabric sample books. I told Brian the feeling I was going for and he could see the vision, and suggested books to check out. Brian said to bring the favorite books home so we could see how the fabric looked in the changing light of our home. Great advice, as the colors did change from morning to evening! I brought home (that time!) at least ten books. Each books had dozens of patterns and material types.  All I could see and dream was fabric!  The books were spread out all over the chairs and tables and I bookmarked favorites (dozens).  My cats even examined them!

When I settled on a few choices, we went back to the Brian Howell Upholstery shop.  He informed me that my final selections may not be the best for extended sitting! Darn! He explained why, and what type of material would be better. Brian was honest and knew very well what would be best.  Back to our house with several more books, more sticky notes and musings, we finally made a choice.

Brian said he was swamped, gave us a completion date, and off we went.  We stopped by the next day to return some of the many books I forgot, and he was already DONE!!! My heart leapt! The upholstery work was perfection!! Mind you, this was not an easy pattern in my opinion, but the craftsmanship was that of an artist.  I didn’t even notice at first, but once we got the cushions home and placed them on the chairs, it became evident how much care was taken in the detail and pattern matching.  How could someone do such professional work? 

Brian gave us the extra fabric in case I want to have pillows made in the future. He can do that.  In fact, I am now thinking of re-upholstering all the furniture in my house!  Those dining room chairs I’ve had for years.  Maybe a new bench cushion. Even my Hubby’s future theater room can have sound-proof upholstery custom fit on the walls. Brian Howell can do it all.

I am giving a Brian Howell Upholstery a five-star rave review.  We are fortunate to have such a talented craftsman in our Emerald Coast area, with great advice, expert experience and results. He loves what he does and it’s evident. Thank you, Brian Howell Upholstery!

Brian Howell Upholstery, 123 McGriff St., Fort Walton Beach, FL
850-243-7008
brian@howellupholstery.com

Wendy Rulnick, Broker, Rulnick Realty, Inc.

The post Brian Howell Upholstery – Fort Walton Beach, FL 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.

📄 Getting an Offer on Your home in Destin or Niceville

Getting an offer on your home in Destin or Niceville is exciting. But it’s not just about the number. There’s more to it than price alone.

Look at everything:

• Purchase price (yes, important!)
• Closing date
• Deposit amount
• Inspection terms
• Financing details
• Contingencies (like needing to sell another property first)

Even on the Emerald Coast of Florida, a full-price offer isn’t always the best one. If the buyer’s financing is shaky or the terms are complex, you might want to think twice. In short, take time to review every piece of the offer—especially in busy markets like Destin and Niceville.

🤝 Negotiating the Right Way on the Emerald Coast

Then comes negotiation. In Niceville and Destin, it’s a normal part of the home selling process. Some sellers expect it. Others don’t. Either way—it’s standard.

Many buyers offer less than asking. They want to see if there’s room to deal. No problem. Stay calm and confident. A fair, firm counteroffer shows you mean business—but you’re also willing to work with them.

Sometimes it’s not about money. Maybe the buyer wants a quick close. Or they love your patio furniture. A little flexibility goes a long way—especially here along the Emerald Coast, where homes can move fast, and sometimes not!

Getting multiple offers? It happens in Destin and Niceville, not as much as it used to, but multiple offers situations do occur. In that case, you can:

• Accept the strongest one
• Ask everyone for their “highest and best”
• Counter just one and wait
• Use smart wording to keep your options open (rely on your real estate agent for the exact counteroffer terms)

The takeaway? The best offer on your Destin or Niceville home isn’t always the highest. Solid financing and fewer strings can be even more valuable—especially when timing is tight.

🔍 Inspection and Repairs in Florida Homes

Next, the inspection. It’s a common step here in Destin, Niceville, and all across Florida.

Most buyers order a home inspection (and wind mitigation study, and wood destroying organism inspection, etc.) —even for newer homes. Don’t stress. Some small issues nearly always show up. A dripping faucet. A wobbly fan. Builder punch list items. These are normal.

Bigger issues—like an aging roof or old AC—might come up too. In Florida, most contracts include a repair cap (like 1.5% of the purchase price). If costs go above it, you’ll need to talk it through with the buyer.

Having a reliable handyman on speed dial can make a big difference. In Niceville and Destin, buyers often appreciate quick, professional solutions. It keeps the sale on track and everyone happy.

📉 Low Appraisal? It Can Happen

If the buyer’s getting a loan, the lender will order an appraisal. It’s how they confirm the home’s value matches the loan amount.

On the Emerald Coast, including Destin and Niceville, appraisals can sometimes come in lower than expected—especially if the market’s been hot.

If that happens, don’t panic. You’ve got options:

• The buyer covers the difference in cash
• You lower the price
• You meet somewhere in the middle

Sometimes, no agreement is reached and the deal falls apart. But more often than not, both sides work it out. Communication and flexibility are key—especially real estate markets like Destin and Niceville.

📦 Last-Minute Seller To-Dos

As closing day gets close, things speed up. But don’t forget the final tasks. Sellers in Destin and Niceville should check these off the list:

• Book your movers or line up friends
• Call junk removal company
• Donate items for charity
• Call the utility companies for shut-off or transfer
• Pack a little each day to avoid stress
• Round up remotes, keys, and manuals for the new owner

Also, leave the home clean. Whether in a Destin beach house or a Niceville primary residence home, a tidy goodbye is always appreciated. It’s also part of the contract to leave the home “broom clean”, free of occupants and personal property, and maintained.

🔑 Closing Your Home in Destin or Niceville

Closing day is the big moment. In Destin and Niceville, this often happens at a local title company in person or by express mail.

Bring these with you:

• Photo ID (driver’s license or passport)
• Bank details for wiring your proceeds
• All house keys, garage remotes, and alarm codes

Once the documents are signed, it’s official. The buyer gets the keys. You get your proceeds. And just like that—you’ve sold your home on the Emerald Coast of Florida.

✅ Selling Success in Destin and Niceville

To wrap it up: selling a home in Destin or Niceville takes planning, patience, and local know-how. But with the right agent and a solid strategy, you can make the process smooth—and even enjoyable.

Want a guide who knows the Destin and Niceville markets inside and out?

Reach out to Wendy Rulnick, Broker/Owner of Rulnick Realty. She’ll help you sell with confidence—right here on Florida’s stunning Emerald Coast.

The post Offer on Your home in Destin or Niceville? first appeared on Rulnick Realty.