9 Pitfalls To Avoid When Buying Your Fort Lauderdale Real Estate Home Or Condo
May 4, 2008
Buying a Fort Lauderdale Real Estate Home Or Condo is a major investment, and it can be an even more expensive process than it needs to be by overpaying for the Fort Lauderdale Real Estate Home Or Condo that you want, or losing your dream home to another buyer, or even worse yet, buying the wrong home for your needs. Consider these tips below to avoid these problems.
9 Pitfalls To Avoid When Buying Your Fort Lauderdale Real Estate Home Or Condo
1. Bidding Blind
You must have knowledge of comparable Fort Lauderdale Real Estate Homes Or Condos. I can show you what have similar homes compared to your target have sold for in recent months; what is active now at what price that compares in square feet and number of bedrooms and baths (and other features) and how long have these Fort Lauderdale Real Estate Homes Or Condos been on the market?
Without knowing these figures, you are “bidding blind,” when you make an offer. I will give you the “comps” and explain them to you in terms of what it means to you when searching for your Fort Lauderdale Real Estate Home Or Condo.
2. Bidding without mortgage pre-approval when you are financing the home
Get your mortgage pre-approval in advance. I work with a number of reputable mortgage lenders and brokers who will qualify and approve you at no cost to you so that you can shop with confidence. My lenders will find the best package for you for a mortgage and explain the details to you. Feel free to ask the lender any questions that you want to so that you have a full understanding of this process.
3. Buying the Wrong Home
Write a list of what features the new Fort Lauderdale Real Estate Home Or Condo home must have. The length of your commute to work. the size of the home (square feet). pool or no pool. number of bedrooms and baths. Do you want a separate room for an office, exercise area or studio. Do you want a desk in the kitchen. what fixups will the house need?By being fully prepared in advance, you won’t find after a purchase that you left out a feature you truly want.
4. Unclear Title
.The seller should disclose encumbrances on the property, such as undisclosed owners, easements, tax liens, leases, etc. The title company we use will make sure you don’t have any complications in the future, and be sure that the title is clear.
5. Inaccurate Survey.
A survey clearly marks the boundaries of your property. It should be done now, so that any new additions and changes are shown on it, such as a swimming pool or neighbor’s fence which extends a boundary line.
6. Undisclosed Fix-ups.
Conduct a complete inspection prior to closing to avoid later fixup you didn’t anticipate.I will give you the names of inspectors you can count on to do a thorough job, and you can choose one of them.
7. Contract Problems.
A seller could fail to comply to the letter of the contract by neglecting to attend to some repair issues, or changing the spirit of the agreement in some way. Agree ahead of time on a dollar amount for an escrow fund to cover items seller does not fix as agreed. Be sure to do a walk through just before closing and check these items off one by one.
8. Hidden Costs.
You should know all your costs just before closing. I will make sure your the lender gives you an estimate of the total costs for the closing.
9. Rushing the Closing.
Be sure to see all the paperwork the day before you sign. Make sure it reflects your understanding of the transaction, and that nothing has been added or subtracted. check the interest rate. You do not want to delay the closing as it is happening as it could compromise the sale.
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Fort Lauderdale Real Estate
Fort Lauderdale Homes And Condos For Sale
If you are interested in learning more about buying a home or condo in Fort Lauderdale or anywhere in South Florida; or if you need any information about the Fort Lauderdale real estate market, please feel free to contact me and it would be my pleasure to assist you.You can contact me at the number shown below or please feel free to contact me by the form below and I, or one of my assistants, will be sure to get right back to you within a few hours, if not sooner.
If you are inquiring about a specific property shown on this site, please include the address of the property in the comment section of the contact form below.
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Robin Sing-Cunningham
robin@robinashley.com
Access USA Realty
Local Fort Lauderdale | South Florida : 954-709-7461
My Assistants:
Barry Johnson: bjohnson@robinashley.com
Lindsay Richardson: lindsay@robinashley.com
