Just Sold – Riverisde Drive Indialantic Luxury Riverfront Estate Home For $1,375,000.00
Kyle Hogan of Keller Williams Realty of Brevard just sold this luxury riverfront estate home on Riverside Drive in Indialantic Florida. The final sales price was $1,375,000.00. This palatial residence features 4 bedrooms, 5 bathrooms, 2 half baths, 4 car garage, under 5857 square feet of living area. The 1 acre property with direct access to the Indian River and intracoastal waterway, sits among many other luxury homes on Riverside Drive, but one of the unique features of this home is its private tennis court and gated entry way that leads down a long paver driveway to the main entrance.
The list price of the home was $1,499,000.00, but Kyle Hogan helped his client negotiate a contract price of $1,400,000.00. At the advice of Kyle Hogan, the buyer used an entirely different inspection process. Not only did the client hire a home inspector, but he enlisted the services of a local general contractor to coordinate subcontractors to inspect each of the major, important, and costly to repair items like the roof, A/C systems, plumbing, dock, seawall, pool, irrigation and septic systems. This was a crucial and money saving decision since the sellers had limited the repairs to $5,000.00 on the contract. With estimates in hand from each subcontractor for items in need of repair, the buyer request an adjustment of the contract price of $25,000.00 to the final sales price of $1,375,000.00.
Typically a home inspection from a licensed inspector on a home of this size runs about $500.00. This home inspection cost the buyer $2,500.00, but ended up saving the buyer $25,0000.00. That is a pretty good return on the investment for the more thorough home inspections. These types of inspections are a great resource for people purchasing luxury properties.
This is another high priced sale in the Brevard County Florida real estate market which seems to be doing much better than the rest of the state of Florida and even most parts of the United States. Inventory is low and properties are moving quickly. This home was listed for 7 days before it went under contract.
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