Contract Analysis: Real Estate Transaction in Naples, Florida

📋 CONTRACT TYPE AND PURPOSE

• Contract Type: Residential Real Estate Listing/As-Is Sale
• Main Purpose: Facilitate the sale of a 2-bedroom, 2-bath condominium unit in the World Tennis Center, Naples, Florida, under an As-Is contract. The transaction is aimed at an investment/vacation property with short-term (7-day) rental capability.

👥 KEY PARTIES

• Buyer/Tenant: Not explicitly identified in the document.
• Seller/Landlord: Stephen M. Mowrey
• Other Parties: Not applicable

🏢 REAL ESTATE PROFESSIONALS

Listing Agent/Licensee (Seller's Agent):

• Name: Skye Leber
• Listing Brokerage: Epique Realty, Inc.
• License #: N627597
• Contact: Phone: 252-331-9474 | Email: skye@skyeleber.com

Co-Listing Agent:

• Name: Dawn Valente
• Brokerage: Epique Realty, Inc.
• License #: P3575861
• Contact: Phone: 239-707-7895 | Email: dvalente7@me.com

Additional Notes:

• The listing agent clearly provided submission instructions for offers.
• There is no mention of a buyer’s agent or cooperating broker in this specific MLS listing document.

⚖️ CLOSING & LEGAL PROFESSIONALS

Title Company:

• Name: Tropical Title
• Closing Agent: Michelle Roman
• Address: 13180 Livingston Rd #205, Naples, FL 34109
• Contact: Phone: 239-216-1733 | Email: michelle@tropicaltitle.com

Other Professionals:

• No law firm or escrow-specific details were mentioned.

🏠 PROPERTY INFORMATION

• Full Street Address: 3323 Olympic Dr #723, Naples, FL 34105
• City: Naples
• State: FL
• ZIP Code: 34105
• Property Description:
• Condominium in World Tennis Center, a gated community.
• 2 bedrooms, 2 bathrooms, second-floor unit, split-bedroom floor plan, open-concept layout, tile flooring, front terrace with screened lanai, and landscaped views.
• Property includes 1 assigned parking space and access to community amenities such as tennis courts, heated pools, a poolside café, fitness center, and more.
• Legal Description: WORLD TENNIS CENTER NO. THREE A CONDOMINIUM UNIT 723
• Lot Features: No waterfront or Gulf access. No private pool or spa.

💰 FINANCIAL TERMS

• Purchase Price: $239,000
• Earnest Money Deposit: Not specified in the contract, but submission requires an As-Is contract and applicable disclosures.
• Condo Fees: $905 quarterly
• Master HOA Fees: $1,400 quarterly
• Annual Recurring Fees: $9,220
• Additional Fees: $500 transfer fee + $100 application fee = $600 total one-time fees.
• Seller Costs: Seller pays for the owner's title insurance premium.
• Buyer Costs: Buyer pays for documentary stamp tax on the deed.

📅 IMPORTANT DATES & DEADLINES

• No specific closing date or contingency deadlines are included in this MLS listing summary. Key dates to be determined in negotiations.

✅ CONTINGENCIES

• The property is sold "As-Is," contingent on buyer review of condo and association documents.
• Seller Disclosure Available: Property includes association documentation at World Tennis Center Association Documents.
• No financing, inspection, or appraisal contingency deadlines are explicitly stated.

⚠️ SPECIAL CLAUSES & PROVISIONS

• Rental Flexibility: Property supports short-term (minimum 7-day) rentals, making it ideal for vacation and income generation.
• Seller Concessions: Seller will pay for the title insurance premium but strictly designates the Closing Agent.
• Ownership Details: Buyer advised the unit is condo-warrantable per the seller, reducing financing risk.
• Additional Notices:
• Buyer must assume documentary stamp tax responsibility.
• Information on utility costs is included ($50/month for electricity).
• Mandatory As-Is clause in all submitted contracts.

🚨 AREAS OF CONCERN

• Are Disclosures Complete? While the MLS report mentions a seller's disclosure, the availability of all necessary condo/HOA documents requires confirmation from the buyer.
• Title Insurance Agent Selection: The seller has strict conditions on selecting the Closing Agent to issue the policy, leaving little negotiation flexibility for the buyer.
• Misinterpretation Risk: Although the condo appears well-maintained per MLS, independent inspections and verifications are critical (e.g., structural insurance claims, unpermitted improvements).
• Future Fees: Condo and HOA fees are substantial ($9,220/year combined). Buyers should confirm whether there are pending assessments or if increases are anticipated.

⚠️ IMPORTANT DISCLAIMER: This analysis is for informational purposes only, based on the MLS listing provided. Always consult a Florida-licensed real estate attorney or broker to review the details of any transaction before making commitments.