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The experience of buying or selling a home on Fire Island is unique and too
often, the experience is challenging. Whether you are looking to
buy or sell, we offer the following advice for you to consider.
If you are buying a Fire Island home...
Every first time buyer has the same lament...buying a house on Fire Island is a daunting task. There are some steps you can take to assure that the process will be easier.
- Get educated. Learn as much about Fire Island real estate as you can. One of the ways you can learn about the beach is to read the local Fire Island papers. The Fire Island News (631.583.5345) and the Fire Island Tide (631.567.7470) are published throughout the summer months. Get back issues. Theses newspapers are a treasure trove about all things Fire Island. Haunt the internet. There is good information on many of the local sites.
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- Determine which communities you want to consider. Generally the seventeen Fire Island communities are clustered in three areas; the west end which includes the communities of Kismet, Saltaire, Fair Harbor, Dunewood, Lonelyville, Atlantique and Robbins Rest; the center communities include Ocean Beach, Seaview, Ocean Bay Park, Point 'O Woods, Corneille Estates and Summer Club; and the east end communities which include Cherry Grove, the Pines and Davis Park. Plan day trips or rent a house for at least two weeks to see if the community is a good fit for you and your family.
- Know your budget and current market conditions.
- Select a professional Fire Island Real Estate Broker and work with them to find the house best suited to your needs and to educate you about the beach. In general, a Fire Island Real Estate Broker who lives year round on Fire Island is better able to assure that you have access to properties for sale throughout the year.
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If you are selling your Fire Island home...
Before selling your Fire Island home and in order to assure that buyers have what they need to make an offer of sale, it is in the seller's best interest to follow these steps before a house is offered for sale.
- Determine market conditions. You want to know the list price and the actual sales price for the houses which have sold in your community in the past six months. Based on this information, your house can be compared in order to determine whether your house has amenities which are different from the houses which have sold. This information should be available from a Fire Island Real Estate Broker.
- Set the price for your house based on the market conditions. The rule of thumb is if you want to list the house for a higher price, you will have to wait three to six months for a buyer. If you want to sell quickly, set a price as close to the actual market determined from the comparables.
- Prepare the property for sale. Empty the house of as much "stuff" as you can. Clutter diminishes the appeal of any house. Do any necessary repair work. Clean up the yard.
- Locate and make copies of: The survey of the property, the certificate of occupancy, the most recent tax bill, utility expenses, flood insurance and fire insurance information. If you are having difficulty locating any of these items your Fire Island Real Estate Broker can assist you in determining where copies can be obtained.
- Give an "exclusive listing for sale" to a reliable Fire Island Real Estate Broker. Fire Island Real Estate Brokers traditionally have taken "open listings." This is not the best way to promote your house.
It is in the owner's best interest to give an "exclusive listing to sell" to one Fire Island Real Estate Broker for a specific period of time. The real estate broker who takes the listing is obligated by law to act in your best interest. The listing broker should advertise the property with other Fire Island real estate brokers who will also help to sell the house. If your broker is reluctant or unwilling to co-broke with every other Fire Island broker, it generally is because they want to hoard the listing for themselves.
- Discuss the marketing plan with your Fire Island real estate broker. How and where will the property be advertised? As the house is shown, your real estate broker should provide information about the number of potential buyers viewing the property and feedback from them.
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