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Pre-Construction Buying Process

Choose Your Broker Carefully -  Buyer Beware

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Mazor Realty, LLC

Boca Raton, FL 33432

Copyright
2003-2008 SarahMazor.com
Mazor Realty LLC
Mazornet, Inc.
All Rights Reserved

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ARE YOUR LOOKING TO PURCHASE
Pre- and New Construction in South Florida?
CHOOSE YOUR REAL ESTATE BROKER CAREFULLY

The Role of Real Estate Brokers - Buyers Beware
  ◊
The benefit of working with an Honest Real Estate Broker
      ◊ Knowledge
      ◊ Honesty
      ◊ Compliance with State and Federal Regulations
      ◊ Service
  ◊ The Questions You Should Always Ask!

  ◊
Disclaimer

THE BENEFIT OF WORKING WITH REAL ESTATE BROKER
As in any service related industry, finding the right person to work with is key.
What to expect of your broker?
 
- Knowledge
 - Honesty
 - Compliance with State and Federal Regulations
 - Service

KNOWLEDGE: In pre- and new construction, knowledgeable brokers advise their clients of upcoming buying opportunities and enable them to purchase early during the "Pre-Construction" phase, often saving them thousands of dollars.  Some well connected brokers have access to pre-sales events and can secure units in desirable properties, a major benefit to their clients.

HONESTY: Real estate professionals are often looked upon with suspicion.  Sadly, this reputation is often deserved.  Truth telling and direct honesty are not associated with our profession as many brokers in an effort to make sales, deliberately "mislead" the public.

Here is are select examples copied directly from competitor websites (more examples are kept in our files):

Example 1: Copied September 9th, 2004

50 Biscayne is having an exclusive VIP sales event August 25th. Buy before the general public. This is a gorgeous 54-story waterfront tower with magnificent bay views in Downtown Miami. Get ready for another quick sell out.

This project opened to exclusive brokers on Wednesday, August 25th. Due to the overwhelming demand for 50 Biscayne, this event is by appointment only...  Buy before the general public when the sales office is expected to open in mid September!.

Here are the facts:  50 Biscayne OPENED TO THE PUBLIC before it opened to BROKERS.  This is precisely why Mazor Realty, LLC did not advertise this building, although we were invited by the developer to do so.  As we were not able to secure FIRST PHASE pricing for our clients, how can we present it as such?  Mazor Realty advised clients interested in this complex to go directly to developer's representative, before August 25th!

Example 2: Copied September 9th, 2004

FREE PRIVATE TOUR OF NEW COMMUNITIES AND RESALE HOMES
You'll be driven to all new home communities and resale homes in Dade, Broward, Palm Beach, and St. Lucie Counties in south Florida by a new home specialist who utilizes real estate internet sites, [NAME OF REAL ESTATE AGENCY] exclusive databases, MLS, builder network and pre-owned homes to make sure that 100% of the housing market is covered.

100% of the market is not covered by brokers at all.

1. Real Estate companies are in business to make money.  Real estate agents only assist buyers when they can earn a commission.  Since some builders and developers do not cooperate with real estate brokers, and there is no commission to be earned, it is MISLEADING to claim that 100% of the market is covered!

2. Think about it.  In pre-owned homes, For-Sale-By-Owner homes are NOT promoted by real estate agencies, are they?  In pre- and new construction, brokers only promote properties built by developers who cooperate with brokers.  In other words, to claim coverage of 100% of the market is FRAUDULENT! 

COMPLIANCE WITH REGULATIONS: Florida has a murky past in its real estate dealings.  Stories from the 1980s abound about swamp land sales and multiple buyers for single properties.  The State of Florida government is working hard to make sure these problems are corrected and has instituted laws to protect buyers.

- Know your rights. Seek "Buyer's Agent" representation. 
Did your real estate agent provide you with Agency Relationship Form, advising you of their obligations to you before introducing you to properties? 

- Beware of real estate agents who "Collect Checks" for "upcoming opportunities."  It is ILLEGAL!

Neither developers nor real estate agents are permitted to collect checks other than at reservation or contract time.  FREC (The Florida Real Estate Commission) requires real estate AGENTS to deliver checks to their broker within one business day, and REAL ESTATE agencies to DEPOSIT IN BANK or DELIVER TO DEVELOPER ALL CHECKS RECEIVED FROM BUYERS within three business days, unless checks are post-dated.
 
- Beware of real estate agents who provide you with INVESTMENT advice.  It is illegal and unethical.  Even professional investment consultants who are SEC (Securities and Exchange Commission) licensed are not at liberty to forecast future earnings.
 
Remember, real estate brokers are not investment consultants.  What you should expect is knowledge of the market, inventory, price per square foot, and comparables.  NO FUTURE TELLING!

SERVICE: Both knowledge of market, and honest dealings should be basic requirements of your real estate professionals. Once narrowed down to real estate professionals who subscribe to the above, how do you choose the ones to work with?  Easy. Go with your gut.  If it feels good, do it.

QUESTIONS YOU SHOULD ASK WHEN BUYING PRE-CONSTRUCTION!
 - Who is the developer?  Reputation, Past performance.
 - Area information, school information (when applicable), etc.
 - When did sales begin?
 - Have there been price increases? How many? How much?
 - Comparables.  What other pre- and new construction are planned for the area, and how are they priced/selling?
 - Will deposit be held in escrow account?
 - When will construction begin?
 - Are assignments of contract allowed?
 - Will simultaneous closings be allowed?
 - Can property be sold immediately after closing?
 - What are the Rental Policies?
 - What are the Pet Policies?
 - What will Maintenance Fees amount to?
 - What Amenities Will be Offered to Residents?
 - Is there any information that is not OBVIOUS that may impact the buying decision?  (Example: train tracks near by, proximity to school (may be noisy), environmental, etc.)

DISCLAIMER
Mazor Realty, LLC is a Florida licensed real estate broker and is competent only to provide information of a factual nature concerning properties for sale. Nothing in this document or website is intended as investment, legal, or accounting advice, nor should the information contained herein be construed or understood as such. Only professionals licensed as investment counselors, accountants, and attorneys are qualified to provide counsel with regard to these other areas.

CLICK HERE AND READ ABOUT:
Buying Pre-Construction. 
The Process and the Pitfalls

 

PLEASE CALL YOUR MAZOR REALTY REPRESENTATIVE
(Click Below For Agents Contact Information)
http://www.sarahmazor.com/agents.htm
IF YOU ARE NOT YET WORKING WITH A MAZOR AGENT
PLEASE CONTACT
Mazor Realty, LLC
Boca Raton, FL 33432
Office: 561-998-9500
Fax:   866-813-1679
Email:  Sarah@MazorRealty.com 
  
 

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Mazor Realty Websites
| Mazor Realty | Sarah Mazor, Broker - Mazor Realty | Mazor Homes | Mazor Golf Communities |
 | Mazor Condos | Mazor On The Ocean |

Preconstruction & New Construction Condos & Homes in Palm Beach County, Florida
| 610 Clematis CityPlace West Palm Beach| Boca Grand Boca Raton | CityPlaza West Palm Beach | CityPlace Tower West Palm Beach |
| The  Edge West Palm Beach| Flagler Pointe West Palm Beach | Highland Beach Club | Marina Village in Boynton Beach |
|
Meridian Condos Boca Raton | Meridian Lofts in Delray Beach | Montecito at West Palm Beach | The Moorings at Lantana |
|One Watermark Place West Palm Beach | Palmetto Place Boca Raton |
The Prado at West Palm Beach |
| The Slade at West Palm Beach | The Strand on the Intracoastal WPB | The Whitney West Palm Beach | Toscana Highland Beach |
| Townsend Place Boca RatonTuscany on the Intracoastal Boynton Beach |

Preconstruction & New Construction Condos & Homes in Broward County, Florida
| Aquazul at Lauderdale by the Sea | Beach Club at Hallandale Beach | Europa by the Sea at Lauderdale by the Sea |
| Hilton Fort Lauderdale/Q Club | Las Olas Beach Club Fort Lauderdale |
Ocean Palms Hollywood Beach |
| St Regis Resort and Residences Fort Lauderdale Beach |

Preconstruction & New Construction Condos & Homes in Miami Dade County, Florida
| Acqualina at Sunny Isles | Bellini Bal Harbour
|
La Perla at Sunny Isles | Atrium at Aventura | Ocean One in Sunny Isles |
| Ocean Two in Sunny Isles | Ocean Three in Sunny Isles | Ocean Four in Sunny Isles |
One Bal Harbour |

Preconstruction & New Construction Condos & Homes in Lee County, Florida
| The Oasis in Fort Myers |

Preconstruction & New Construction Condos & Homes International
| Costa Rica on the Atlantic Ocean |


Pre and New Construction information on this website is not paid advertising.
 
Mazor Realty is not an exclusive agent for the developers, unless otherwise stated.

Our loyalties are to our clients, as we represent you, our client, to the developers as BUYER'S AGENTS
In resale transactions, in compliance with Florida law, Mazor Realty represents their clients (Buyers and Sellers) as TRANSACTION BROKERS.  
Please click on the hyperlinks to learn about the different representations. 

What you read on www.MazorOnTheOcean.com is independent information drawn from developers' material, press reports, public records,  and extensive research. For professional service and straight forward, objective information, so YOU can determine whether to purchase, contact us via email at Sarah@MazorRealty.com or 561-998-9500

Please note that Mazor Realty does its best to update its website, however the information in this database is not guaranteed to be accurate. Availability, pricing, and builders' rules and regulations are dynamic in nature. Please contact Mazor Realty for up-to-the-minute information and for an appointment to preview properties.

Copyright 2002-2008 Mazornet Inc., Mazor Realty LLC, www.MazorRealty.com, and www.MazorOnTheOcean.com  All Rights Reserved.
This website contains copyrighted intellectual property.  No portion of this intellectual property may be duplicated or reproduced without the express written permission of the copyright holders.  Any unauthorized use or reproduction of said intellectual property may incur civil liability.
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