If you live in or plan on relocating to Florida, we suggest you get familiar with the nuances of our real estate market.
For various reasons, Florida has long been a state with a high frequency of real estate transactions. We have transplants moving here from colder climates, we have our retirees who are following the traditional retirement patterns of old, and we have new families migrating here daily. Then of course we have our current residents that are moving up, down or simply on to a relocation as well as new construction. All of these factors contribute to a busy real estate transaction market.
Buying a Home
We recommend that you find a buyer’s agent, as they will serve you best. Whether you are buying a house for the first time, or if you are an experienced real estate mogul, finding the right Florida real estate agent is an important decision so he or she can assist you with location information and the like. We recommend the following:
- If you are targeting new construction, be sure to check out the reputation of the builder.
- Be sure to add appraisal and inspection contingencies to your offer to protect your initial deposit(s).
- Be sure that your transaction includes an owner’s title insurance policy that covers you against previous liens and other unknown ownership issues.
- Learn the lay of the land. In Florida, driving and traffic varies hour to hour. Do some driving to locations you plan to frequent to determine if the location will be suitable.
- Carefully review the property’s roof, drainage, insulation and air conditioning systems. All four can lead to big expenses.
- Listen to your inspector. In Florida, inspectors are of great importance for uncovering mold issues and potential hurricane deficiencies.
- Consider the use of a real estate attorney to properly guide you through the closing process and any financing terms.
Selling a Home
When selling a home, you have the option of contracting a real estate agent or selling your home on your own. And either can be completed with or without an attorney. There is no correct way to sell a home, but we advise that one way is frugal and can benefit your bottom line while the other is safe and of minimal risk.
Typical fee for contracting a real estate agent to market your home and manage the transaction from pre-listing research to post-closing finalization is 4-6% of the sale price.
We encourage sellers to interview multiple real estate agents to ascertain what the benefits of working with each are. We also recommend doing the same with multiple real estate lawyers so you get the best experience and value during your transaction.
For more information regarding this topic and any of the services we offer, from title services in Palm Beach county to real estate legal matters, contact us at any time.
The Law Office of Donna Hearne-Gousse
(561) 582-5670