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Flood Zone Information

Posted by PRO Tue, 16 Jan 2007 19:32:00 GMT

When researching flood zone information it is important to use only FEMA sources for validating the facts. Some public records reports may contain flood zone codes but it is strongly recommended that you confirm that information through FEMA sources. Flood maps are inexpensive and can be purchased through http://www.fema.gov/.

Pinellas County FIRM Viewer Report

  

Map Effective Date

This is the effective date of the FEMA flood zone map. The Map Effective Date is an important piece of information to validate when researching property. You may encounter situations in which the lender is working with outdated maps and may not have the most current flood zone information. It is important to note that the flood zone information on this map is based on FEMA data. While the information is available through Pinellas County, FEMA is the authoritative source for determining flood zones.

Primary Flood Zone

This is determined by FEMA and indicates whether or not the property is in a flood zone. Primary Flood Zone designations that start with either an "A" or "V" require mandatory flood insurance. Primary Flood Zone designations that start with either a "D" or "X" do not require flood insurance, but a good risk management practice is to recommend flood insurance to buyers who are in flood zones D and X. The cost of the insurance is relatively inexpensive. In a statement made by FEMA representatives in early 2005 they indicated that in a storm situation, 40% of the flooding occurs in non-flood zones. Typically, homeowner’s insurance does not cover flooding that is a result of a storm.

Flood Panel Id

The Flood Panel Id indicates the section of the FEMA map where the property is located. When contacting FEMA regarding a property, you must refer to this number.

Zone Designations

The Flood Zone designations are definitions created by FEMA based on the Flood Insurance Study. To access this information, click here.

 

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Heated Square Foot Calculator

Posted by PRO Tue, 16 Jan 2007 15:47:00 GMT

Click here to view

The Heated Square Footage field in the MLS is auto-populated with information from Realist.  This is a calculated number.  Please refer to the Heated Square Foot Calculator for the components include in this number.

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How to read the Realist Property Detail Report

Posted by PRO Tue, 16 Jan 2007 19:38:00 GMT

Guidelines for conducting an analytical review of  the Property Details Report.

Review

Procedure

Realist Property Details Report

 

Owner Information

The owner information identifies the individual who has the authority to list and sell the property.

  • Compare the owner name to the name of the individual who contacted you regarding the listing of the property.

Additional Information 

If the name of the individual who scheduled the listing appointment is different from the name of the property owner, contact the individual who scheduled the appointment to learn what that person’s role is regarding the sale of the property and whether or not the property owner will be present at the listing appointment. If the owner or legally-authorized designee will not be present at the appointment, consider rescheduling the appointment for a time when the owner or legally-authorized designee can be present. Only the owner or legally-authorized designee can sign the listing contract. In situations involving property held in trust by a corporation or governmental agency, you will need to verify who is legally authorized to list and sell the property.

For owner-occupied property, the property address and the tax billing address will be the same. A tax billing address that is different from the property address indicates that a tenant (or someone other than the owner) occupies the property.

  • Note the county-use code. This code is related to the zoning of the property and will help determine the appropriate marketing plan for the property and is the source of the MLS ownership and property-type information.
     

Location Information

  • Note the legal subdivision name. This information needs to be provided on the MLS Profile Sheet and verified on the MLS listing.
     

  • Note the millage rate. This information needs to be confirmed with the county tax record, provided on the MLS Profile Sheet, and verified on the MLS listing.
     

Tax Information

  • Note the tax identification number. This information needs to be provided on the MLS Profile Sheet and verified on the MLS listing.
     

  • Note the tax year. The information in this section of the report is based on the year.

  • Add the land assessment amount to the improved assessment amount. The sum should be equal to the total assessment amount. A difference can arise as a result of exemptions and the Save Our Homes cap.
     

  • Compare the total assessment with the taxable assessment. A large variance between the two is generally the result of the Save Our Homes cap and exemptions. It is also an indicator that property taxes for a new owner could be potentially higher than the current taxes.

Information to discuss with client / customer

It is important to advise consumers to research the county property appraiser’s Web site to learn more about the potential tax liability on the property. The county property appraiser’s reports reflect the property’s tax liability without the benefit of the Save Our Homes cap and exemptions. The report also reflects current special taxes on the property. However, the county property appraiser’s report does not reflect future tax assessments that may be placed on the property.

  • Note the legal description. This information needs to be provided on the MLS Profile Sheet and verified on the MLS listing.
     

  • Note whether or not the property has a homestead exemption. This information needs to be provided on the MLS Profile Sheet and verified on the MLS listing.

Information to discuss with client / customer 

It is important to advise consumers that they must file with the county to continue to receive the benefit of the homestead exemption.

Instructions for filing for homestead exemption are here.

 

Characteristics

  • Note the total heated square footage. This is a calculated number.  Refer to the Heated Square Foot Calculator in the MLS Reference to learn more about this calculation.  The Realist total heated square footage is auto-populated into MLS.  Validate this information through public records to determine if the correct number is the MLS listing.
     

  • Become familiar with the general characteristics of the property. When you tour the property at the listing appointment, compare the characteristics listed in the public records with the actual property.

Required Disclosure 

If the house was built in 1978 or earlier, a Lead Based Paint Disclosure for the property is required.

Required Disclosure   

Check the Property characteristics for the use of asbestos, which requires disclosure.

Information to discuss with client / customer   

If the Property Characteristics include an Effective Year Built, this indicates that the property has undergone a major renovation. Discuss the nature of the renovation with the seller and inquire as to whether or not the work was permitted with the county.

Post-permitting with the governing municipality can be expensive.

Information to discuss with client / customer   

If the exterior is frame/stucco, inquire as to whether or not the seller has a termite warranty and if it is transferable with the property.

Last Market Sale

  • Review the details of the last recorded sale of the property. Knowledge of this background information helps to confirm your expertise in researching property records.
     

Sales History

  • Note that this information is in a columnar format. Read it from top to bottom, not left to right.
     

  • Review the details of the sales history of the property. Knowledge of this background information helps to confirm your expertise in researching property records.
     

Mortgage History

  • Note that this information is in a columnar format. Read it from top to bottom, not left to right. Also note that it does not reflect the satisfaction of a mortgage.
     

  • Review the mortgage history of the property. Knowledge of this background information helps to confirm your expertise in researching property.
     

Features

  • Review the building description. This information should match the building sketch. Significant changes to the property are recorded building features.

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Joining PRO

Posted by PRO Tue, 16 Jan 2007 19:56:00 GMT

Joining PRO as a Broker

 

To join PRO, you must attend and complete New Member Welcome class within seven (7) days of completing your online application.  For information about the New Member Welcome class, including membership application, dues and fees, Basic MLS & System Security (with token), leasing SUPRA DisplayKEY or eKEY to access lockboxes, and the other two mandatory classes you must also complete,  click here.

 

Also in new member welcome, you will learn how to log on to the Florida Association of Realtors (FAR) website, www.floridarealtors.org, to access valuable member-only information; for more about that now, click here.  And, you will learn how to register at the National Association of Realtors® (NAR) website, www.realtor.org  to be able to log on for access to valuable member-only information that is available there as well.

 

As was mentioned in the new member welcome schedule, you must complete the mandatory MLS Certification Course within thirty (30) days of joining the MLS.  If you do not successfully complete the MLS Certification Course within the required period, your MLS service will be suspended.

 

Additionally, the Orientation/Ethics Training must be completed within sixty (60) days of joining PRO.  You can attend the class at PRO; for a description, click here.  Or, you can complete the PRO online Ethics Training for a fee; to find out how to do that, on the PRO website, click Online Education at the Education menu or click here.  Or, you can complete the online Ethics Training for free at www.realtor.org.  If you do not successfully complete the Orientation/Ethics Training within the sixty (60) day period, you will revert to non-member status and you will lose leased access to SUPRA DisplayKEY or eKEY.

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Joint Listings

Posted by PRO Tue, 16 Jan 2007 15:23:00 GMT

(Section 4.8)

When a Participant jointly lists a property with another Participant, the following rules apply:

  • Only one Participant of the MLS may submit the listing to the MLS.

  • The listing Participant is solely responsible for the terms and conditions of the listing, including but not limited to, the offer of compensation to cooperating Participants.

  • The listing must be of a type permitted by the MLS and conform to all rules, regulations, and policies of the MLS.

  • The agent who is listing the property in the  MLS must have written authorization from the other listing broker permitting the listing to be placed in our MLS

  • The agent who is listing the property in the MLS must have written authorization from the seller authorizing the joint listing of the property.


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