Under Contract | Miami Beach | Imperial House Condo
13Jun

under C O N T R A C T

Imperial House Condo

5255 Collins Ave #8D

Miami Beach

3 Bed | 3 Bath | 2,534 sf

Last asking: $1,495,000

Buyer represented by Lisa Yanowitz

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Closed Sale | Morningside Miami
10Jun

C L O S E D sale

Morningside

545 NE 55th Terrace

Miami

4 Bed | 4.5 Bath | 3,594 sf

Sold for: $2,640,000

An exciting chapter has officially closed for our very own Mitch Sklawer! A big congratulations to your hard word, passion and dedication. On to the next big thing!

Developed and sold by Mitch Sklawer

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Can a Buyer Inspect a Home Without a Seller’s Permission?
3Jun

Here’s the scenario: Your house is on the market, and you have interested buyers, but they are concerned about the roof. Maybe your home has a bit of damage from the last storm, but it’s nothing major. Still, a potential buyer sends a roofer to check things out without your approval. Sending a professional to somehow inspect the condition of your home unannounced may seem a bit bold on the buyer’s part. Can a potential buyer send someone—be it a roofer, inspector, or contractor—to inspect a home or snoop around outside without the seller’s consent? Here’s what the experts have to say about this sticky situation.

Your rights as a homeowner

Whether or not you’re selling your home, you have certain rights as a property owner. These laws may vary by state, but generally, anyone coming onto your property without your permission could be considered a trespasser, in accordance with your local statutes. If a potential buyer (or an inspector hired by the buyer) wants to stop by and take a peek at your roof or anything else, a written approval from the seller is required. Inspecting the house for purchase, formal inspections, and the steps for a resolution to those inspections should always be in writing. And all parties should have committed to and agreed to the inspections and their resolutions. The formality of inspections varies by state, but sellers have the right to approve or deny any inspection requests and resolutions to inspections.

Professionals should know not to trespass

Paul Ryll, a residential appraiser and co-founder of Oscar Mike Mobile Appraisals, won’t go anywhere near a property without permission. “By law, I am not allowed on the subject’s property without the owner of record’s permission, regardless of the type of appraisal assignment or who my client may be,” says Ryll. Appraisers and inspectors are responsible for confirming they have permission to be at a house—whether inside or out—with the homeowner.

What if you’re using a dual agent?

A dual agent is an agent that represents both the seller and the buyer in the same real estate transaction. In such a transaction, there may be concern about the dual agent representing both sides fairly. Could the dual agent send the buyer or an inspector to the house without the seller’s approval? The answer is no. A dual agent must follow the rules that govern home inspections. Having a dual agent has no bearing in this case as we all have to abide by the law. It’s always unlawful to enter a property without the property owner’s permission. If an inspector shows up on your doorstep with your agent—and you didn’t give the agent permission—it’s time to revisit your dual agency agreement. If you feel as though you are not receiving fiduciary care from your agent, you can always seek out help from your agent’s broker or the local real estate commission.

What about an inspection during a showing?

The low housing inventory, competitive seller’s market, and limited showings due to COVID-19 restrictions have prompted some buyers to forgo inspections to gain a competitive edge. But waiving an inspection could have costly implications for the buyer. Concerned Realtors and inspectors started working toward solutions that made sense for both sides of the transaction. One of those solutions was pre-offer inspections. Agents and inspectors often schedule 30-minute inspections within the time frame of a house showing. This offers insight on those big-ticket items for a buyer prior to writing an offer. Often, the inspector will credit the cost of that 30-minute inspection toward a full inspection after an offer is accepted. Still, an inspector can’t come to the showing with a buyer and nose around without permission. It’s a matter of coordinating between buyer and seller, but it does happen more often than you’d think. The buyer’s agent has to request a showing but note that it is for an inspection in the request.

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Just Listed | Coconut Grove | 1 Grove Isle
31May

just L I S T E D

Grove Isle

1 Grove Isle #A406

Coconut Grove

2 Bed | 2 Bath | 1,642 sf

Offered for: $1,500,000

Step through the double front doors to this spacious and naturally lit condo in the exclusive and desirable Grove Isle community. The first thing you see is the serene view of the bay and Coconut Grove as you look beyond the spacious balcony. Details of the home include new marble flooring throughout, open layout kitchen with quartz counter tops, track lighting, electric blackout blinds + sheer decorative curtains, built out walk-in closets and updated bathrooms with white quartz counter-tops. Grove Isle's amenities include: walking/jogging path surrounding the island, multiple pools, beach to relax or launch your paddle board, dog park, playground, tennis court, boat marina + more! Come escape to this resort lifestyle!

Seller represented by Lisa Yanowitz

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Closed Sale | Plantation Acres
23May

C L O S E D sale

Plantation Acres

521 E Mount Vernon Drive

Plantation

4 Bed | 3.5 Bath | 2,915 sf

Closed for: $998,200

Represented buyer

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Fort Lauderdale Vacant Land Ready for Development
13May

J U S T listed

Sailboat Bend - Fort Lauderdale

819 SW 1st Street

Fort Lauderdale

Approximate Lot Size: 7,000 SF

Offered for $599,000

Rare opportunity to build your dream home, duplex, triplex or fourplex in the heart of Downtown Fort Lauderdale. Walking distance to Riverwalk, Broward Center of Performing Arts and Las Olas. Oversized lot on a street with existing water/sewer connection ready and ripe for development. Property is cleared! Seller is willing to include fully assignable set of construction drawings, surveys, civil engineering, & Geotech testing documents for full price. One of the last vacant and cleared lots in all of downtown, will not last!

Seller represented by Lisa Yanowitz

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Closed Sale | Coconut Grove
6May

C L O S E D sale

Cloisters on the Bay

3471 Main Hwy #1239

Coconut Grove

4 Bed | 4.5 Bath | 5,660 sf

Closed for: $2,750,000

Seller represented by Mitch Sklawer

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Closed Sale | Brickell Bay Club Condo
4May

C L O S E D sale

Brickell Bay Club Condo

2333 Brickell Ave #511

Miami

2 Bed | 2 Bath | 1,740 sf

Closed for: $700,000

Buyer represented by Mitch Sklawer

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Buying a House Under an LLC
2May

If you own your own business, chances are you have a limited liability company (LLC) or, at the very least, you know what that is. Business owners may choose to buy a home using an LLC or under their own name. Buying a home under an LLC is beneficial for two main reasons:

Reason No. 1:

Homeowners can maintain some privacy because the LLC is listed as the property owner. For buyers who don’t want nosy people to be able to locate their addresses in public records, buying a home under an LLC is the preferred way to acquire property. Many buyers of high-end properties prefer using an LLC, because all property transfers are recorded and available to anyone who wants to look up information on an address. An LLC prevents a buyer’s name from entering the public record.

Reason No. 2:

Owners have more protection in the event of a lawsuit. If you own your residence in your name (as most people do), someone who’s injured on your property can sue you directly. While homeowner’s insurance (and umbrella insurance if you have it) will cover the payments on a successful lawsuit up to a certain point, your other assets––including your savings, investments, and home equity––could be garnished to pay the rest of the damages. However, if you own your home in an LLC, then the lawsuit can only name the LLC, and the only assets that can be used to pay off the suit are those assets held in the LLC (which usually would just be your home.) In addition, investors commonly use an LLC to purchase properties they intend to rent to tenants because of the liability protection offered by the structure. When you own your property as an LLC you pay your property taxes through the LLC and can even funnel other costs of homeownership through the LLC.

Keep in mind that establishing an LLC will impact your property taxes and future capital gains taxes. The impact varies from state to state, but in most states you’ll need to pay an annual-report filing fee in addition to your property taxes. You’ll also need to pay legal fees to set up an LLC, which can be expensive depending on the structure of your LLC. If you’re considering buying a home with an LLC, it’s important to consult an attorney and a tax advisor with experience in your state. You need expert advice to understand the implications of buying property under this type of ownership.

Potential cons of buying a house under an LLC

If you’re sold on the idea of buying a house under an LLC, it’s important to first examine some of the potential downfalls of this strategy. One of the biggest surrounds the difficulty of securing financing. Not to mention, you likely won’t be eligible for most types of residential loans, including FHA or conventional loans sold to Fannie Mae or Freddie Mac. Buying a home under an LLC also means you’ll forego capital gains exemptions. Typically, home sellers pay no capital gains tax on the first $250,000 of profit as a single individual or $500,000 as a married couple. But when you own a property as an LLC, you’ll ultimately be responsible for the tax bill, no matter how small or large your gain is.

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Closed Sale | Aventura
22Apr

C L O S E D sale

Uptown Marina Lofts

3029 NE 188th Street #401

Aventura

3 Bed | 3 Bath | 1,378 sf

Closed for: $540,000

Buyer represented by Lisa Yanowitz

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