1. Search best fitting criteria properties on internet.
Narrow down to favorite property types:
vacation home,
investment,
relocation,
investment/vacation home.
Plan a trip to SW Florida to view property
2. View property and make offer on resale, builder inventory or new construction property.
Seller discloses all fees and assessments to Buyer prior to making an offer. Most offers include a small initial escrow deposit. This escrow deposit must be in US funds and can be wired upon acceptance.
3. Seller accepts offer and offer becomes a contract.
Seller will usually ask for an additional escrow deposit that brings the total deposit up to 10% of purchase price in a few days from contract date (effective date). Condo sale subject to documents review. 3 business days for a resale condo and 15 calendar days for new condo (this is for condo only) Good idea to write in review of HOA documents if SF home in HOA. Send copy of contract to local real estate attorney to represent buyer through to closing.
4. Home inspection item options: mechanical, termite , radon, air quality.
Home inspection usually reveals a few defective items and Buyer request Seller to repair or replace them prior to closing. If you are purchasing a new home from a builder then the builder will give a one year warranty to Buyer. If you are purchasing a foreclosure or short sale the sale is as-is with right to inspect with a short inspection period after effective sales contract. Home inspection team will check for evidence of "defective drywall" on all home inspections.
5. Final walk thru
Prior to closing the sale, Buyer is allowed a final walk thru. During the walk thru, the defective item repair/replacements are checked along with the furniture inventory list if sold furnished. In case of new construction, a punch list is made of items to be repaired prior to closing or within the warranty period.
6. Prior to closing
Buyer sets up utilities(hydro, water), and optional services such as pool service, home watch service, lawn service if applicable. Closing statement(HUD) review. Buyer and Seller review HUD statement which show Seller's expenses and proceeds, along with Buyers expenses and final payment amount.
7. Closing
All contingencies have been met and Buyer and Seller agree to close. Can be a mail away closing. In Florida, the closing will occur with a title agent or attorney. The party paying the title insurance will pick the place of closing. Taxes, fees, assessments are all prorated on the date of closing. It is highly suggested that the locks be changed after closing. We look forward to providing high quality real estate service to you after closing!
