Naples FL Real Estate & Homes for Sale – Real Estate Terms /Furnished & Turnkey
If you are thinking of buying a home in Naples you might have noticed that 40% of our homes are advertised as furnished or turnkey. Are you wondering what that means? It means a bonus, a gift, a way of saying thank you and wishing you a relaxed enjoyable time in our town.
Furnished – These are properties that are offered with some furnishings. It could be just furniture for a room or two, or it could be furniture in all rooms.
Turnkey – As the term might imply, the property is totally furnished including, in most cases, furniture for the outdoor patio or lanai. It also includes artwork, bed linens, bathroom decor and towels, decorative nick nacks and a fully equipped kitchen. Literally all you need is the key at closing, your suitcase and toothbrush.
If you are buying the property as a cash transaction –There is nothing special you need to do other than make sure your agent takes photos of all rooms and add them in the form of a addendum to your contract – just to avoid any misunderstandings of what conveys.
If you are buying the property using financing from a mortgage company – then you need to be aware that the lender and the appraiser might deduct value from the appraisal for the furnishings. Since in most cases the seller has no value attached to the furnishings, and you definitely do not want to risk the property not appraising because of the deducted value, just ask your agent to fill the appropriate form that indicates that the parties agree that there is no value attached to anything the seller leaves behind as a convenience.
When negotiating the offer – Just because the seller is not adding monetary value for the furniture, it does not mean you forget the $35,000 worth of furniture you are getting with the property – not to mention your time and any inconveniences. Be reasonable and don’t lose a property you like over a $5,000 when you are getting furniture worth at least $35,000. It might be fun to go shopping for an item or two, it is never fun furnishing a home from scratch over-night. Your time is money – we want you to be spending it at the beach, playing golf, fishing or just enjoying the attractions.
What if you like the property, but not necessarily like the furniture or the quality? It is very simple. We have over 30 consignment stores in the area. Simply call any of them, they will be happy to take care of what you have. With the proceeds from the sale you can buy whatever suits your taste. Or you can choose to replace the few items you don’t like.
Most turnkey properties are very well furnished – the sellers were most probably using the home as a vacation home a few months a year, so the furniture is hardly used. Many have been furnished using the services of a professional designer, some are furnished from the most expensive furniture stores – you will be pleasantly surprised.
It makes buying a 2nd home or an investment property in Naples. . . a BREEZE.
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