About this Article:
How to buy a property in 5 steps?
1- Contact a local Realtor
2- Pre-qualification with a lender
3- Communicate to your realtor the characteristics of what you are looking for
4- Send an offer to the property owner
5- The negotiations begin until the closing day
Compare the market with a Real Estate Agent
Contact to Yani Querol (Real Estate Agent in Miami), she will help you get data on recently sold houses in your area that are closest to the one you are considering. (Properties should have about the same number of bedrooms and bathrooms as the house you are targeting and be in the same condition.) These homes called comparables will give you an idea of what buyers may be willing to pay for the home you love and how much you might want to offer.
Â Depending when these homes were sold and if there have been significant changes in the market since this was purcharsed.
Do you need a mortgage lender?
Â Donâ€™t worry! Weâ€™ve helped hundreds of national and international clients successfully obtain financing through the network of lenders weâ€™ve built over the years. Our residential and commercial mortgage lenders serving the Miami real estate market, weÂ can help you:
- Pre-qualify for a mortgage before you start looking for a home, so you know how much you can invest.
- Provide mortgage financing of up to 96,5% of the value of the property for domestic buyers, and up to 75% of financing for international buyers.
- Find mortgage loan services for all types:
1- Residential (houses, Apartments)
2- Commercial (offices, warehouses, industries, etc.)
3- Holiday homes
4- Investment real estate andÂ foreclosed properties,Â Call us today at (786) 619 6572 and tell us about your mortgage financing and pre-qualification needs, and let us help make your dream in Florida.
What to do before making an offer to a seller?
Â Youâ€™ve found the house you love and youâ€™re ready to make an offer, but before you take these step:
Main aspects to consider:
- Price per square foot (Sq.ft)
- HOAs (Homeowners Association Fees)Â If you future home are in a Condo. HOAs are governing bodies found within common-interest communities, such as planned or gated neighborhoods and apartment or condominium buildings.Â Generally coverÂ the following: common area maintenance, exterior building maintenance, limited insurance, sewer, roof maintenance, trash pick up and termite.
- Property taxes
- Future fixes
Compare the market to find the best offer:
Â In a hot market, where homes are sold quickly and buyers are clamoring to buy houses (a â€œsellerâ€™s marketâ€œ), you have less influence as a buyer than in a cool real estate market, where there is a large inventory of homes for sale (a â€œbuyerâ€™s marketâ€œ).
Â So, youâ€™ll want to know if the local market youâ€™re looking to buy is a cool market or a hot market.
Â You can search for the temperature of your target market, consulting the statistics and market trends on our website â€œHOUSES FOR SALE MIAMIâ€œ.
This information will indicate:
- Prices are going up or down
- The number of homes sold is rising or falling
- Average list price
- Average selling prices
Â The more information you have, the better you will be able to prepare an offer and the greater your influence at the negotiating table.
Check the houses
Â Find comparable accommodation, but donâ€™t forget to check the property in person to get a real comparison between these units and yours. Statistics and numbers say a lot about a house, but they canâ€™t fully express the look of a house.
Check price history
Â See when the seller bought the house and for how much he bought it. A seller who bought a property several years ago at a relatively low price may be more willing to negotiate the price than one who recently bought the house at a relatively high price.
How long the house been for sale?
Â In real estate jargon, the duration of a house sale is called â€œdays in the marketâ€œ. You can find out by checking the period of time the house is listed on our web or by working with a real estate agent to find out how long the property has been for sale.
Â The longer a house has been on the market, the more a seller is eager to sell it. Also, a homeowner who has just registered his home for sale is less likely to accept an offer below the asking price than a homeowner who has been waiting for a buyer for months.
Inspect the property with a professional
Â Look beyond the recently painted interior and the well appointed inner courtyard of the house to determine the current state of the property. If you are uncomfortable, bring a friend or family member who could easily identify expensive and embarrassing problems such as roof leaks, foundation cracks and significant termite damage.
Explore the neighborhood
Â A house does not exist in an empty space, it is in a neighborhood full of neighbors, noises and even smells. Learn about the environment of the house to determine if it is right for you. It is better to visit the area at different times and days, because a quiet area during the day can jump at night (or vice versa).
Getting a second (or third) opinion
Â Sometimes love at first glance is blind, and a house that has seen you at first glance may turn out to be everything you wanted (or everything you never wanted). Ask a friend.