There is a reason thousands flock to sunny South Florida each and every year. Beautiful beaches, amazing weather, and incredible real estate. If you're thinking of making the jump to Florida to buy property, there's a few things you must know.
Do you research and seek out a licensed Florida Realtor. This is a significant first step in the buying process. Especially being new to not only the state, but the country itself, this is a pivotal step to ensure that you have absolutely everything you need for a successful purchase and transition.
A licensed Realtor will provide you with a birds-eye view of the real estate market in your desired area. It is pivotal that you work with them to browse the market. Being new to the state, no one expects you to know exactly what you’d like, nor would anyone expect you to have any idea of what the market has in store. If there is one thing you need to know about the U.S. housing market, is that it varies greatly state-to-state and region-to-region. Florida’s housing market looks entirely different than Boston, Denver, or Chicago, for example. A licensed agent will be able to provide you an in-depth overview of what to expect.
Make sure you have done your research on your financial options. Most new home buyers use a mortgage or other forms of financing options. Talk to your Realtor about any banks or lenders they may recommend. Trust me, we have seen it all and know which one will be the best fit for you and your family. Once you've chosen one, then you can start the applications to get pre-approved for a mortgage if this is the route you'll take.
Finally...and here's the fun begins...Make an offer. Now is when you'll want to double check your finances and make an appropriate offer to the seller. In Florida, the offer is conducted through a formal contract, so every base is covered. Make sure your Realtor is helping with this and goes over the contract front to back.
Acceptance and enter the contractual phase. This is where the fun begins. Here is where you can start to tie up the loose ends, finalize any additional inspections, and cross the T's and dot the I's. The contract should have been drawn up by your Realtor. Often times the contract is drawn up with “earnest money” which is a quite small deposit to show the buyer you are in fact serious about the transaction.
Let's close! You'll meet with the sellers and your Realtors to re-visit everything and finalize the deal. In some cases, the keys will be handed over right then and there. Then, it's time to move into your new Florida home. Welcome to the Florida!
Posted by Andree Huffine, Sarasota Realtor on
Leave A Comment