Smart Buying Strategies for your next Florida Home
Things to know when buying your next Florida Home Get Pre-Approved, Not Pre-Qualified
To ensure the strongest negotiating position possible, get a full approval from a lender, conditioned only upon a contract and satisfactory appraisal. This differs from a prequalification in that the information you are submitting to the lender is verified and underwritten. Pre-approval can be obtained in just a few hours (in rare cases a few days) and is a powerful weapon all buyers should have in their negotiating arsenal. More on pre-approval> Look Beyond The Surface
Make sure the basic are there. The basics are the things you can't change, like: location, view, lot size, neighborhood, school district, and floor plan. The cosmetics are things that can be easily changed and include items like carpet, wallpaper, and paint color. Don't let the seller's decorating skills or taste become the basis for your decision. Don't Get Pushed Into A House
Get familiar with the neighborhood and drive around. Get a feel for the community. Look at several houses. This may sound strange coming from someone who stands to benefit from your looking at as few homes as possible, but you should look at a number of homes to get a feel for the community and the values therein. You will never find the absolutely perfect home, but at least try. Start with our Neighborhood Guide > About those ads...
Did you know that the most popular real estate magazine in the Orlando market's production time runs almost a month behind? And that agents create real estate ads solely to make the phone ring? Therefore, many of the homes appearing in the book are already sold. Keep in mind that the agent who wrote the ad represents the seller, not you. A buyer's agent will critique the property with an eye toward how well it meets your needs and will point out any drawbacks you should know about. Many homes are sold without a sign ever going up or an ad ever put in the newspaper or homes magazine. We can let you know about great homes coming on the market before the rest of the world gets to them. Sell First, Then Buy
If you have a house for sale, sell it before selecting a home to buy. Contingency contracts rarely work in the Orlando real estate market. At the very least get a contract on your current home. That way you can make the contingency on the closing date of your current home, not the sale. NOTE: If you do make a contingency offer, you will likely end up paying more for the home than without that contingency and you will feel pressured to accept a lower price for your current home. More on selling your home > |