Buyers Information

The home-buying process can be a smooth process or a difficult one, depending on several factors. Whether you’re just looking around or you’re seriously thinking about buying property in the Emerald Coast, this guide will walk you through some of the aspects of purchasing a home in Florida.

Get a real estate agent. Hiring an experienced local real estate agent has a lot of benefits. Aside from helping you find a home that meets all of your needs, you can expect your agent to guide you through all the other procedures involved. A good real estate agent committed to helping you meet your goals will provide you with comprehensive market reports, take care of necessary documents, and negotiate the best deal for you. We recommend getting in touch with one of Southern Beach Real Estate’s experienced Realtors.

Review your finances. Buying a home entails taking on a lot of financial responsibility; it’s imperative that you assess your financial situation to determine if you can handle it. Some of the things you should consider are your credit rating, your income, and your monthly expenses. Your credit rating can be improved through several ways, which you should explore before you applying for a loan. To know more about financing a home, head to our Mortgage and Finance page.

Hunt for a home. It’s wise to create a wish list and a must-have list of home features. Include as much as you can think of, from the number of rooms to kitchen fixtures to special add-ons. Don’t forget to keep within your price range and be open to compromise on some features (this is why you want to have two lists).

Make an offer. Once you’ve found the home, make an offer and show your seriousness by depositing earnest money. Your earnest money deposit will typically be at least less than 2-3 percent of your offer price.

Have necessary inspections and reviews performed. As mandated by Florida law, a seller must present a Sellers Real Property Disclosure, which, aside from details on known defects, may or may not include the following: a history of repairs, existing legal actions, and HOA or condo disclosure forms. To be sure, have your agent confirm the information or hire a professional inspector to examine the property. You will also have to look into the property’s legal title to discover if there are any pending issues or to determine the kinds of property liens the house may be subjected to. Liens usually include tax, mechanics, construction, and federal and state tax.

Finalize and close the deal. Once the terms and conditions of the purchasing agreement are met, it’s time to finally seal the deal. A neutral third party will preside over the closing/close of escrow, which is when transaction costs will be settled and documents will be signed. Once all the formalities are done, the seller will hand over the deed and keys to your home.

Congratulations!