Eric Feichthaler
September 30 at 11:29 AM ·
I so enjoy providing real estate closing and title services to my friends and clients. They get excellent title services at affordable prices, in addition to the services of the Cape's only Board Certified Real Estate Attorney. Due to low interest rates and the attractiveness of our area, we have been very busy, and I am seeking to hire an additional team member so we can serve our clients even better. If you or someone you know has title experience and would like to work in the longest-established law firm in Cape Coral, they can send a resume to eric@capecoralattorney.com. I hope you all are doing well as we have been in Covid-Mode for over 6 months now.
I so enjoy providing real estate closing and title services to my friends and clients. They get excellent title services at affordable prices, in addition to the services of the Cape's only Board Certified Real Estate Attorney. Due to low interest rates and the attractiveness of our area, we have been very busy, and I am seeking to hire an additional team member so we can serve our clients even better. If you or someone you know has title experience and would like to work in the longest-established law firm in Cape Coral, they can send a resume to eric@capecoralattorney.com. I hope you all are doing well as we have been in Covid-Mode for over 6 months now.
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If anyone knows of anyone in need of a Christmas dinner, please let them know that on Saturday the 19th from 11 am to 1 pm The Brotherhood of Heroes organization will be passing out family meals at their new location 4522 S Del Prado Blvd.
Please instruct them to drive to the back of the building and the food will be brought to their car. Also, this is a 1st come 1st serve basis and 500 meals are available. So get there early.
A huge thank you to Carol Culliton and the Gunterberg Foundation to their continued support to the community!!!
Check out Mr. Feichthaler's upcoming column in the Cape Coral Breeze!
Dear Mr. Feichthaler,
I am selling my home to a really nice family, and the closing is scheduled for next week. They have asked if they can have the keys to move in a few days in advance, so they can move furniture they have in storage and have the house for Christmas. Their loan cannot fund the purchase until December 28, so the closing cannot be moved up earlier. Do you see any issues with this request?
Chase K.
Dear Chase,
I have seen this type of situation before. There are a multitude of reasons a seller would like to work with a buyer to get them into the house before the actual transfer. However, you must be aware of certain risks in allowing a buyer to have pre-occupancy. First, anything that occurs to the house prior to the closing would be your responsibility. If the buyers caused a catastrophic issue, like a fire, they probably won’t go forward with the purchase, and you would be left to deal with the damage. That example is admittedly unlikely, but what could happen is the lender falls through on the loan, for whatever reason. Now the buyer is living in your house, and you cannot physically remove them. That means you would need to proceed with an eviction, even if you prepared a valid pre-occupancy lease and addendum to the purchase contact. In these times, there is no guarantee on the timing of how fast an eviction can occur.
We have worked with many buyers and sellers to navigate these issues, and advice can vary based on the specific situation and the relationship between the buyers and sellers. As with any real estate transaction, make sure you are protected from potential issues before signing the contract, and especially before allowing a buyer to take possession of the house.
I wish you and all our readers a Merry Christmas and Happy (Much Happier) New Year in 2021!
Friday's Breeze column discusses a potential win-win for the reader.
Dear Mr. Feichthaler,
I am in the process of building a home, which will take 3-6 months to complete, and I am selling my current home. I have a full-price offer now, but they want to close in 30 days. I don’t to be without a home for potentially 5 months, but I really think this buyer is my best option. Besides move into a hotel for five months, what can I do?
Terry S.
Dear Terry,
Interest rates continue to be low, and we have seen a major increase in population with the Winter season. That combination has led to a lack of homes for sale, and an uptick in pricing, which led to your full-price offer. Depending on the needs of your buyer, my first recommendation would be to have a post-occupancy agreement as part of the purchase. As part of the contract, the buyer can agree to allow you to remain in the home until your home is completed. This could be at a set rent, or rent-free, depending on what you negotiate. This gives you the best of both worlds – the comfort of knowing your house is sold, title transferred, and money in your hand, while having the time to move your personal items into your new house when ready.
In the alternative, you could find a rental house that rents monthly. Although this could result in moving all of your items twice, this may be preferable to potentially having your new house finished and the old house unsold. I wish you all the best in your new home, and a very healthy 2021.
A great way to start the new year! Congratulations to Seth and Ashley on the purchase of your new home, and your upcoming addition to the family! The attorneys and staff of the Firm wish you a great 2021, and thank you for choosing us to close your transaction!
Congratulations Juan and Maria on the purchase of your Cape Coral home!
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