My role is to steer my clients away from all of that from all these traps, all these pitfalls as we say. So that we can focus having them, it saves time for everyone too, focused on the best products, and I explain them why too.
Pitfalls for example that will not be seen, pitfalls are often found in the governance of an apartment, we call it a condo.
In Miami you have two types of units ; you have either condo, understand condominium, condominium in French it is called “copropriété” that’s what it means, and Co-op.
Co-ops are completely different and generally, while these co-ops are cheaper, they’re cheaper because they’re undervalued and have a lot of restrictions on governance, especially regarding rentals.
You can easily find a building where the restrictions are minimal : you’re allowed to do only one-year leases, six-month leases or even no leases at all. In other words, the owners have decided to keep it private; they don’t want tenants. In fact, this isn’t reflected in the pictures of the listings, the address, or the price. We’re not going to see it.
When the price is suspiciously low, you can start looking for the problem and you usually find it here…
So that’s my job, as a Real Estate Broker.
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