1) Get your Finances in Order and Your Records Gathered up in Advance
Have that down payment saved up. Know your credit score and that you are in a solid position to buy a Florida home. Start to compile documents you will need to submit if you will be financing like W2s, 1099s, paystubs, bank statements, employment history, etc. A professional mortgage lender or broker will be able to inform you on the specifics needed.
2) Speak with a Lender to Become Pre-approved Prior to Searching for a Florida Homes
In a hot Florida market, you want your lender to do as much of the loan application and underwriting process for you as possible upfront before you even begin looking at homes. That way when you are ready to make an offer this shows a seller you are a serious buyer and able to secure financing.
3) Be Ready to View Properties and Don’t Hesitate to Make That Offer if it Feels Right
In competitive markets, properties don’t last! If you see something you like preview it as soon as you can. If it feels right make the offer! If you hesitate or wait too long you just may miss out.
4) Make Your Florida Offer Attractive and be Ready for a Possible Multiple Offer Situation
Be prepared to put down a competitive escrow deposit with your offer which shows the Florida seller you are a good-faith home buyer. Make sure your offer is complete with all the necessary forms that should be included to be considered an executed contract. Accommodate the seller’s timeline as much as possible and remove any unwarranted contingencies if you can help it. Lastly, if you are competing with other offers there is another option available like using an escalator clause with your offer which essentially states you will meet a competing bid up to a certain price point. Your real estate advisor can educate you more on this option.
5) Consider Writing a Letter to the Seller
One final tip to possibly give you an edge over competing offers is to write a letter to the seller stating what you love about the home and why you are making the offer. The letter should be short and sweet but personal and heartfelt. Buying and Selling a home brings out many emotions. It may just be the deciding factor in a close competing situation.
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Millie Gil is Broker/Owner/Realtor for Bold Real Estate Group, fluent in English and Spanish with a strong network of Real Estate Professionals Worldwide. Millie says “we are committed to providing a high level of service over and above the customer’s expectations. It is our goal to become your Realtor for life”.
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