If you are considering buying a home in South Florida right now, you don’t have to read too many articles to realize that the inventory of homes for sale is extremely tight. Needless to say, this has created a particularly competitive environment. The more knowledgeable and flexible that you are, the more successful you will be in finding what you are looking for. In this article, we will discuss a few helpful tips that you should implement in your home search.
Loan pre-qualification
- Before beginning any home search, it is imperative that you speak with a mortgage broker to understand what price range you are pre-qualified for. This is critical in order to avoid spending too much times on homes that you would not be able to afford.
Contact your Live South Florida Realty, Inc. real estate agent
- Now that you have a better understanding of your pre-qualification amount, you will want to contact one of our knowledgeable and experienced real estate professionals. At this time, we can begin to put together a home search plan and even place you on automatic listing alerts for your desired areas. Given the competitive nature of the current market, time is of the essence. It is important to be flexible in order to view properties as soon as they hit the market.
Download the free Live South Florida Realty, Inc. MLS app
- Unlike other tertiary apps or websites, this custom MLS app includes a direct feed from the South Florida MLS’s. Therefore, you can be sure that it has up-to-date information. In addition, it includes various other tools such as a map search function, GPS enabled search, open house finder, & a mortgage calculator. To download this free app, click on the link below: https://87778.mobi/EDMOORE/
Explore various cities, neighborhoods, etc…
- Perhaps you think you have a good idea of where you would like to purchase a home. Regardless, it is always advisable to explore various neighborhoods of interest to learn more about them. A best practice here is to drive through these neighborhoods when the residents are likely to be home. For example, in the evenings after work or school or on the weekends. Oftentimes, families with young children would like to find a street with other children of similar ages on the block. Exploring various neighborhoods will help you fine tune your home search and make it a much more efficient process.
You found “The One”! Submit the offer!
- The hard work by you and your real estate agent has paid off and you have found the home you want to buy! In this market, you need to be sure to act swiftly. Your real estate agent will be able to provide comparable closed sales in the area to better determine a fair market value for the property. In addition, other local dynamics in the specific market may also influence this value. It is important that you submit your offer quickly to begin the negotiating process. In some instances, a full price offer will be warranted in order to secure the property. Keep in mind, your offer will contain an inspection period. Typically this is anywhere between 7 – 15 days & allows you to have the property fully inspected. If for any reason you decide that you do not want to purchase the property, you are able to cancel this contract within this inspection period.
Summary
In closing, this competitive market requires buyers to act swiftly in order to have a chance of buying a property. While there are many steps beyond the execution of a contract, the focus of this article was to provide tips for a successful home search process. We realize that this may be an intimidating process, particularly for first-time home buyers. At Live South Florida Realty, Inc., we focus on delivering concierge-level service to make the home-buying experience as seamless as possible. Furthermore, it is critical that we educate our clients along the way to make them feel more comfortable throughout the process. We look forward to assisting you with finding your slice of paradise in South Florida!
