1) Get Your Florida Home Ready to Show
In a low inventory highly competitive market a Florida seller has a better chance of selling a home “as-is” without necessarily having to make major updates as Florida buyers may be more willing to overlook cosmetic flaws just to make a move. Of course, it is best to consult with your professional real estate advisor to get the pulse on other comparable properties first but don’t delay. It just might save you time and money.
2) Don’t Go it Alone – Hire a Professional Real Estate Advisor
Marketing your Florida home is absolutely critical in a hot market. For the most exposure, you still want to hire a professional real estate advisor to advertise your home and to take advantage of the multiple Florida buyers that are out looking. Many times in low inventory markets real estate professionals work with each other through networking to find information on possible new properties that are coming to market that work for their buyers before any public online home search websites have them available.
3) Be Ready to Review Offers and Make Decisions
Once you start receiving offers plan to be available to review all of them within a short amount of time. It is pretty standard to respond within 24 hours. If you know you won’t be accepting an offer it is common courtesy to let the buyer know quickly so they can move on with their home search. For counter-offers it is pretty customary for the negotiation process to take 24-48 hours. Caution though on that “perfect” offer. Sometimes buyers who feel the market pressure make promises in their offers that may be difficult to keep just to get under contract which takes your property off the market. Sometimes something too good to be true is. Be sure to consult with your real estate advisor to review “all” terms and conditions so it is best for you!
4) Be Prepared for Possible Appraisal Problems
Hot markets often rise quickly which is great but may have some challenges too. Most buyers will need an appraisal completed on a home purchase as a financing requirement from their lender. To justify value appraisers typically will compare your home to homes of comparable value within the last 6 months or so. If those previously sold comparables are for much less than your current sales price the buyer may not be able to move forward with purchasing your home. You may need to lower your sales price to overcome this appraisal obstacle or entertain offers from buyers paying cash that do not need the approval of an appraiser to complete a deal. Consult with your Florida real estate advisor ahead of time to address these potential roadblocks.
5) Be Ready To Move
Be thinking ahead of time of where you will be moving to and all that goes along with it. Hot markets tend to produce more cash buyers or buyers with minimal financing needed ready to move fast. Those types of contracts usually close in less time than the average 30 days. Your Florida real estate advisor will negotiate the best terms for you including the optimum closing date but if you prepare yourself mentally for a possible quick sale moving won’t seem so stressful and daunting of a task.
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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”.
Schedule your in-person or virtual real estate appointment with Millie now! Click Here
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