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Sarasota
Home Buying Tips
When buying a
home, many factors should be considered.
* Become
pre-approved for a mortgage.
Getting
pre-approved for a mortgage saves time once you begin your
search because you have a specific idea on what you can
afford and you have a willing lender already in place. Also,
you will be seen as a more serious buyer
candidate in the eyes of the seller when you do put in an
offer for a home. Remember that becoming pre-qualified is
only based upon a snapshot of your financial situation and
may still result in a delay or rejection once you present a
specific property to your lender.
* Work with a
reputable lender.
Securing the
mortgage is a major component to buying your new home.
Working with a good local Sarasota lender is important.
Typically, when a buyer uses an out-of-town lender who does
not know the area, more problems usually occur in the
transaction.
* Understand
home prices.
Sarasota home
prices have grown over the years. Everyone has stories to
tell about the good all days. It is important to be
realistic about home prices and how they compare to other
Florida areas.
* Become
Knowledgeable about the market.
Before you
make an offer on a specific property, you want to feel
comfortable about the location, neighborhood and amenities
the community has to offer. You can get an excellent
overview to the Sarasota communities in our neighborhood
section. You can narrow your search for a home in your
desired price range using our
MLS search.
* Hire a
professional, full service Realtor to represent you.
Time is money
and your time is very valuable. By hiring a reputable real
estate professional, you can narrow your search quickly and
begin the process of negotiating the best deal possible.
Consider the many benefits of
Hiring Team Smart.
* Don't become
overly emotional about buying a home.
This purchase
represents the largest investment in your life. Better to be
clear thinking than overly emotional about your potential
new home. This is where your real estate agent becomes very
valuable, giving you level-headed advice to balance your
decision making.
Typically, you should consider the
following:
1. The "Deal
of the Decade" is very hard to find. If you wait to long,
the right home for you at the right price may slip through
your fingers.
2. Older
homes generally need some work or repairs. Do not overreact
during and after a home inspection. Don't let the seller's
refusal to do minor repairs before closing destroy the deal
on the home you and your family love.
3. If you are
getting a good deal on a home that needs work, be realistic
about the costs, both financially and emotionally, you will
need to spend to bring the house up to the standards you
desire.
4. Remember
that homes in flood zones may look attractive but may float
away during the next storm. Check with your insurance agent
to make sure you can get homeowners and flood insurance.
5. In Florida,
your real estate taxes are determined by the sales price.
Don't get "sticker shock" at your new tax bill because you
based your decision on what the old owners were paying.
Check with the
Sarasota Tax Assessors Office before
you buy. They can project for you what level of real estate
taxes you can expect based on the expected sales price.
6. Florida is
constantly updating construction codes due to storms. Homes
built before certain dates may be attractive and in a great
location, but lack the necessary construction standards to
withstand the next storm.
While buying a
home for you and your family is a deeply emotional
transaction, we, as your real estate representatives, will
work to balance your decision making by:
1. Putting you in a home
with fair current market value
2. Finding you a home with
good construction
3. Identifying a home you
can resell in the future as your needs change
* Consider new
construction.
Many people
think that they do not need a real estate representative
when buying a new home from a builder. They believe that
they will get a better price if they are not working with a
Realtor. This is just not the case. Builders will charge a
new home buyer the same price whether you are represented or
not.
Remember there
are builders out there who have a reputation for shoddy
construction and practices. As your representative, we will
protect your interests because we know the area and which
builders are reputable.
* Hire a good
home inspector.
Since this is
most likely the largest investment in your life, it is wise
to hire a professional home inspector to give you a full
written report on your potential new home without the cloud
of emotional rose-colored glasses.
Florida has
unique challenges like mold and hurricane construction
standards which a home inspection can help you balance your
decision. This is money very well spent.
* Hire a
reputable Title Company.
There is lots
of legal documentation and procedures that must be followed
when transferring real estate in Florida. Getting referrals
and working with the right individual or organization is
very important. You do not want any last minute unattended
detail to delay or cancel your transaction.
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