Things to Do When Buying a House in Florida
One of the biggest decisions you can make is buying a house. You will want to be prepared as well as informed during every step of the process. Here are some of the most important steps.
1. Hire a Real Estate Agent
It is possible when buying a house to do so without hiring a real estate agent. Having one, however, will make the process much easier. A real estate agent will be able to:
- Show you potential homes to buy
- Help you evaluate a house’s worth
- Provide much of the necessary paperwork
- Guide you through the entire home-buying process
2. View Properties for Sale
You need to view as many homes for sale in your area as you can before deciding which one to buy. This will give you a good idea of what’s available in your area. It will also show how high the local real estate values are. You may see different features that you like or dislike. You could find something that you absolutely must have in your home. Consider things like:
- Is the property is on a busy street or near a freeway
- How much storage space the house has
- How much land the property covers
A real estate agent will have access to databases of houses for sale in your area. With their help, you can arrange to view them, either privately or during an open house.
3. Obtain Preapproval for a Home Mortgage When Buying a House
Many things that need to happen before you get too far into the home-buying process. Two of them are figuring out:
- How much of a down payment you can pull together
- How much house you can afford to buy
After that, you will need to be ready to show the home seller your financial qualifications.
For that, you need to get lender preapproval for a home mortgage. Your loan officer will need information regarding your:
- Savings
- Assets
- Income
- Debts
They will, then, be able to tell you whether you qualify for a mortgage and on what terms. It will, of course, all be subject to final confirmation of your finances, job, and other information.
You will receive a preapproval letter that you will then give to the seller when making an offer. This shows the seller that you’re serious about buying a house. It will also prove that you can afford the offer you’re making.
4. Decide How Much a Particular House Is Worth to You
A home’s listed price is not the amount the seller actually expects to receive when it sells. You might be able to offer less or more depending on the market and the area you are buying in. Look at plenty of open houses to get a sense of local real estate values. Then talk with your agent.
Remember that a home’s “worth” is partly subjective. You can fall in love with a house and want to pay a premium for it to outbid other interested buyers.
5. Hire a Home Inspector
Some buyers are over-eager and waive the home inspection contingency in their purchase contract. This is unwise. Unless you’re in such a hot market that it’s the only way to outbid other buyers, you need a home inspection. During a home inspection, a licensed inspector, that you hire, will walk through the house looking for any problems, such as:
- Leaky roof
- Wood rot
- If the walls are straight
The inspector will find issues that the seller may not even be aware of. They provide a written report afterward and possibly let you come with during the inspection.
You will have a few options, depending on what the inspector finds. You can back out of the sale of the house, per the contract contingency. You could also negotiate for repairs to be made or adjust the sale price.
If you have questions about buying a house in Florida, give us a call. We are ready to help you find the home of your dreams.