Vero Coastal Homes LLC

Real Estate Sales - Rentals & Property Management


Allan Grieve - Owner/Broker
verocoastalhomes@gmail.com

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Buyers – FAQ

Purchasing a Home or Condo in Vero Beach Florida ?

The majority of buyers of Vero Beach Real Estate and of Florida coastal properties are seeking a vacation or retirement home or condo. The entire process - purchase, closing, HOA fees and policies are probably different than what you are used to back home. Please see sections below for answers to the most frequently asked questions. Email or call us for any additional information on any property.

Download our Buyers Guide


 

Home Owners Association Fees:


The monthly or quarterly fees required to maintain the common areas and/or building exterior and landscaping can vary greatly between communities. Virtually all associations are non-profit, so fees vary with amenities, inclusions and maintenance requirements. If a complex is gated, the roads are then private, so their maintenance must be paid by the residents. A well managed community saves a portion of the monthly fees in a reserve to pay for future large expenditures.

Amenities:  Communities with pools, tennis, clubhouse and beach access will be the most expensive - consider another location if you wouldn't use facilities.

Inclusions:
Condos -  will typically include insurance, exterior maintenance, landscaping, cable, trash, recreation, pool, water and sewer for less than you could buy on your own.
Town Homes -  may or may not include insurance, trash, water & sewer - it varies by association. Lower fees may mean you are paying for some services individually.
Detached Homes - Newer homes in planned communities often provide pool, clubhouse and lawn care, but insurance, cable water, sewer & trash are owner responsibility.

Reserves: All condo associations are required to maintain reserves for capital improvements and maintenance, but with single family home communities, it is optional. Most SF communities do have reserves however, especially if they have a lot invested in common elements - clubhouse, pool, tennis ect..   As a buyer, you are entitled to review the last few years budget of any association as part of your due diligence when an offer is in the inspection contingency period.

Vero Beach Homes With No Homeowners Association - No HOA


 

Better Price & Terms With a Buyers Agent: 

Although we do occasionally list homes for sale for existing clients, we are primarily "buyers agents". The listing agent of a home is required by their contract with the seller to obtain the highest price and most favorable terms for their client. All Realtors are required to be members of the local MLS cooperative and give access to any agent for all listings in the MLS. A part of this agreement is the obligation to pay a buyer's agent commission from seller's proceeds, so the buyer in-effect, has personal representation by their own agent at no cost to them. More details are available here: Buyers Agency


 

Save on Property Taxes:

When we are asked , what are the taxes on this $200,000 home? - we have to respond "that depends on the owner". Taxes in Florida are based on valuation like most other parts of the country, but we have many exemptions that discount taxes for some and also compound over time. Starting with the assessed value (usually less than actual value) there is homestead exemption for residents and other possible exemptions for disability, age, service and widows. The homestead exemption allows a resident (not necessarily full time) to subtract up to $50,000 from the valuation. More importantly, it prevents increases of more than 3% of the Florida consumer price index in any given year. There are many other targeted exemptions too detailed to list, but a full description is available at: Indian River County Property Appraiser


 

Save on Insurance:

One of the greatest misconceptions about owning Florida real estate is the cost of insurance. Some homes are expensive to insure, but the cost of insurance is not directly based on value. Insurers look at many factors in great detail when determining rates. Here are the most critical:

Age of Home: Building codes implemented in the last 12 years greatly improved the structural integrity and energy efficiency of homes. A 20 year old $100,000 home will cost more to insure than a 10 year old $200,000 home! The most significant aspect of "wind damage mitigation" is the method in which the roof is attached to the walls and foundation of a home. Additional discounts are available for storm shutters and roof materials. A "Wind Mitigation Inspection" done by a licensed contractor will document the features of a home and provide discounts on insurance premiums.

Design & Features of Home:  A home that is built with a "hip roof" (all roof planes slope down to walls) costs less to insure than a home with gable roofs (2 sloping sides that meet at a ridge).  Pool homes will increase cost of liability insurance slightly and impact windows or storm shutters will give additional discounts.

Location : Homes near the coast, river or in a flood plain may be more expensive to insure unless they are built on an elevated lot. You can check the flood risk profile by entering an address at:  Flood Smart.gov
A home that is in a high risk zone is not necessarily a home to avoid. The important factor is the first floor elevation, which is often built up several feet above flood zone to prevent water damage. Almost all homes built in the last 20 years, especially if they are part of a planned community, were required to be built on elevated ground.


 

Closing Costs:

Many buyers are surprised to find out how little closing costs are paid by the buyer for a cash real estate purchase in Florida. Closings are typically conducted by a title company by para legals, so the cost is usually just document preparation and recording. For a cash buyer purchasing a $300,000 home or condo, cost is generally under $500. As your buyer's agent, we will always write offer contracts with the seller paying the vast majority of the cost of sale. If you are financing a purchase, you will be responsible for your own lender fees, which are really bank charges and not closing costs. An exception to seller paid closing costs are new homes, where the builder uses their own contract and terms. While these builder contracts and terms are required, we can typically negotiate incentives that will pay part of the fee or apply to upgrades.


 

List Price vs Closing Price -

 During the downturn (buyers market) that occurred from 2008 to 2011, it was not uncommon for a seller to accept much less than asking price. Beginning with the recovery period that started in 2011,  prices have increased about 1% per month, but have not yet reached the highs experienced in 2006. We are entering what is now considered a sellers market and closing price is a lot closer (currently 94%) of last listed price. In Florida Real Estate Transactions, the seller typically pays about 10% of the sale price for cost of sale - commissions, title insurance, lien search, estoppels & repairs. As your buyer's agent, we will always write offers in your favor for price, terms and seller contributions.

Before we write an offer, we will research the following to determine an offer price that has a chance of succeeding in a sale favorable to the buyer.

  • Comparable Sales - recent sales give a good starting point, but should be adjusted for condition & location.
  • Days on Market - longer than average may indicate price too high, lack of maintenance or location on a busy street. 
  • Owner Equity - Many sellers who purchased in 2005-2006 have a high mortgage balance (we have access to records) and can't drop the price and pay off mortgage without bring cash to closing.
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Reviews

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5 stars   Allan and Kim were able to find us the perfect condo in about one hour’s time due to their complete knowledge of the real estate market in Vero Beach. Amazingly, we were able to go settlement in only 9 days due to Allen’s efforts. We have worked with many realtors over the years and none have worked as hard as Allen to service our needs. He showed great integrity and acted in our best interest every step of the way.
Gary & Nancy
5 stars   I highly recommend Kim and her husband Allan - they provide many services for real estate and property management. Kim was our realtor for our recent purchase of a condo. I inquired online 18 months ago for my initial search. Kim is a wonderful lady and professional realtor. Her knowledge of the Vero Beach area was so helpful.During this whole process she guided us advised and was tenacious in finding us our new home.
Janet & Jerrry
5 stars    By very good fortune I found Allan & Kim's website on the internet. I had very specific "musts" and Allan was wonderful in forwarding listings to me. One Thursday last November my husband and I flew to Florida, Kim met us the next day, showed us 10 choices, we loved #10, she guided us in making an offer on Saturday that was accepted on Sunday. Their amazing company took care of all the details for the closing, and did all the necessary work to get the condo ready for our return in December. They also have a service called Vero Concierge that checks our home every week. I cannot say enough good things about these amazing, outstanding real estate professionals.
Gail & John
5 stars     Allan -  thanks again as always you are on top of the situation. It was a lucky day for us when Jennifer & I connected with you.
Dan & Jennifer
5 stars         It gives me enormous pleasure to recommend Allan & Kim of Vero Coastal Homes  and describe our working relationship to date. Presently, Allan and his wife Kim manage two of my properties in Vero Beach, Florida. My wife and I are sill living and working full time in Boston, MA. Allan is not your average buyer broker. He is a master licensed builder and understands all aspects of what makes for a good investment, from location, to judging a homes condition, in ways that very few others can do.
Steven & Barrie
5 stars    What a lucky day when we chose Kim and Allen for our agents (randomly off the internet). We have dreamed of owning a winter home in Florida for many years and were fortunate to find this couple who made that dream a reality. With their expertise and guidance, we were able to find, secure, and close on a beach condo in less than 1 week. But, the service doesn't stop there.....Kim has a concierge business and makes sure all is well in Florida while we are away. This couple is like the "ever ready bunny" and will be there for you every step of the way. 
Al and Marie
5 stars      My husband & I were truly blessed the day we found Allan & Kim Grieve of Vero Coastal Homes.com on the web. Allan & Kim, both licensed realtors are extremely knowledgeable in all aspects of buying & selling a home.  We searched for properties in Vero Beach, FL,  for 2 Years, while living in New Jersey. We were on Allan’s home search list, where listed properties that met our specifications he forwarded them to us by email. In the winter of 2016 we traveled to Vero Beach to visit some of the homes that were potential possibilities. Fall of 2017, we sold our New Jersey home. Winter of 2017 we traveled to Vero Beach & through Allen’s email list we found our new home.  Allan, with his custom home building & designing expertise was able to assure us that the construction of this DR Horton Home was of sound, well built quality. One month later we closed on our home. We were very pleased to learn that Vero Coastal Homes also has a “Home Watch” program. This wonderful service checks our home inside & out, twice a month. Kim forwards, through emails, all information & photos, of our home, assuring us that all is well with our home & property. The Grieve’s son, Ryan, is a responsible, reliable, trustworthy, young man that has become our handy man. He has done everything from installing ceiling shelves in our garage to adding cabinetry in laundry room, & much, much more. We feel truly lucky to have met such a wonderful family that has made our move to Florida easier !
Donna & Chuck
5 stars     "Had a great experience with Allan. He provided me listing information based on my specifications. Allan was never intrusive, but kept me informed and responded to my questions immediately. It was a real pleasure working with him"
Jerri & Dave
5 stars We recently purchased a condo on Hutchinson Island. Kim and Allan spent two Saturdays showing us several condos. They arranged everything and provided us with information about the area and the neighborhoods. With their help we found the perfect beach condo. They also walked us through the entire process, from initial offer to inspection and final closing. We definitely recommend contacting them if you want to purchase property in the Vero Beach or Hutchinson Island area.
Steve & Beverly
5 stars Kim was a great agent to work with. Showed us several condos in the subdivision that we wanted to be in. After deciding on the one we wanted both she and Allan walked us thought the closing as we were 1,000 miles away. Kim even went to the closing for us and made extra keys for us, gave one to our friends and mailed the other one to us. Would highly recommend them to anyone looking for a home in the Vero Beach area.
Eric & Vickie
5 stars We hired Allan Grieve of Vero Coastal Homes LLC as our real estate agent to help us find a condo in Vero Beach. We couldn't be happier with our choice. Allan showed us a lot of condo's and some of them multiple times. Once our decision was made Allan processed our offer immediately and followed through until a purchased and sale agreement was completed. We highly recommend Allan if you are looking for a real estate agent. Thank you Allan!
Laura & Dominic
5 stars I would highly recommend Allan as a real estate agent . I spent one day looking and found my home. Allan is very knowledgeable with all happening in Vero. I was given a printed list in a folder in the order we toured , I found this very helpful as notes and thoughts often get spread out onto different note pads etc . Allan secured an offer , represented me at the actual closing , ( I was traveling ) and was kind enough to gather keys and documents , secure the home as I lived hours away ! I found Allan extremely refreshing as a person dedicated to the task in a wonderfully non threatening and aggressive manner. Prompt to answer questions that others may how found silly as I am not well versed in real estate lingo ! Allan met me to on his free time at my house to give me the keys and I had the pleasure of meeting his wonderful wife Kim too ! I look forward to using the services Vero Costal Homes LLC offer for times I’m away and need knowledgeable and reliable people to keep an eye on the property.
Alison
5 stars "Our experience with "Vero Coastal Homes" was the BEST. Allan was able to take two "Rookies" and provide us his assistance through the process of making a purchase in Vero Beach. His knowledge and guidance made us feel very comfortable in that he had our best interest in mind at every step of the journey.
Jeff & Linda
5 stars Allan helped us with our decision to move and select our current home. All of our questions were answered in a timely manner, and he helped us with some minor repairs and upgrades after the sale was completed.
Gary & Sharla
5 stars Allan of Vero Coastal did a wonderful job finding the perfect home for my wife and I. He was very patient with us and very easy to work with. He will always be highly recommended by us. We wish him,his family, and his company the very best and thank him so much. We look forward keeping in contact with him. Thanks Again
Bobby & Marykay
Vero Beach Realtors

Allan Grieve
Owner/Broker
Vero Coastal Homes LLC
verocoastalhomes@gmail.com

 

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