Buying a property for sale in Florida can be complex, but if you go through the following tips before making any decisions it will save your time, money, and make sure that your investment is secure. If you are considering purchasing a property, stop for a few minutes, and look at these tips that can help you make the right decisions.

Do Your Research

This may seem like stating the obvious, but you will be surprised by the fact that a number of people do not do enough research before buying property. Even though you can never do enough research, diving into the property market blindfolded can lead to a purchase that you later regret. If you like a property, find out more about the surrounding area, check out the crime rate in that neighborhood, check the school ratings, drive the neighborhood at night, on the weekends, when the kids are getting off the school bus. Check the area zoning and any proposed changes, ask your Realtor to pull SOLD COMPS no more than 90 days old. It doesn’t matter what a seller is asking for a property, what matters is how much the buyers in the past 90 days were willing to pay. You can do your research online or consult a reliable and trusted Real Estate agent as well. We suggest doing BOTH!

Prepare Yourself Financially

Before you make any offers – GET PRE-APPROVED to assure that you can actually afford what you are offering on. Make sure that you have taken all costs into consideration including insurance, HOA fees, taxes, inspections and survey fees, and any other overheads. Work with a LOCAL LENDER who is familiar with the area, the flood zones, Coastal Construction Lines, insurance requirements and Condo Association standards. This is very important to pick a local lender.

Conduct Survey, Home Inspection and Termite / WDO Inspection.

To receive title insurance, you will be required to have a recent or certified survey. The seller of the property may convey an existing survey if no changes have been made to the property. A Home inspection by a licensed individual is HIGHLY RECOMMENDED! A Termite / WDO inspection will be mandatory if receiving a loan, highly recommended if paying cash. This might add some expenses to your purchase but it can save you thousands of dollars in the long run.

Analyze the Property’s Market

Before making a deal make sure that you find out for how long the property has been on the market from your real estate agent. Even if you fall in love with the property, if it has been on the market for a long period of time you should stop and find out why. Make sure the property is free and clear of title issues and liens – clear and marketable title should always be obtained before closing.

Control Your Emotions

One important tip for you is to never act overly keen to either the seller or the seller’s agent. If the seller or the seller’s real estate agent find out your interest, they will try to get as much money out of you as possible. Also remember that YOUR real estate agent works for YOU and therefore cannot tell anyone how much you are willing to pay for the property. Therefore, control your emotions during any negotiations.