People are attracted to the Sarasota real estate market and the surrounding area because of the sharp declines in prices we have experienced. With all the news attention over the past several years regarding foreclosures, short sales, and other sorts of distressed properties it’s no wonder sales have steadily risen since 2007.
We regularly have buyers come to us looking for a foreclosure or short sale because the perception is these are the deals in the market today. In many cases this is true. Over the past several years the affect of these distressed properties as affected all properties. We suggest not focusing on a property because of its financial standing but look more towards finding the best value. In 2011, nearly two-thirds of the sales were not distressed properties. It doesn’t make sense to find a foreclosure for $20,000 under the market only to find the home requires $40,000 in repairs.
With these thoughts in mind we have prepared a brief Home Buyers Guide. Each real estate transaction is unique so there is no way we can incorporate decades of experience into a written guide. Our objective is to provide an overview of the home buying process. There are also issues you should know about before you begin buying the various types of distressed properties.
Our guide contains how to go about finding a home, real estate finance, organizing yourself when seeing real estate, making and negotiating an offer, what to do once you are under contract, different types of inspections, Florida homeowners insurance issues, title insurance, and what to expect the prior to and at closing. We also touch on the best approach and pitfalls you may encounter when buying a new home, a foreclosure, a short sale, or a Florida condominium.
This guide is not a substitute for having a seasoned real estate professional working for you on your behalf. Our team members are specialists in the area and have the know how to find your the right home. There are too many variables to cover in a simple guide. Our guide’s intention is to provide you some basic information and a starting point to help you understand the process of buying a home with the least amount of stress.
We hope you call on us when you’re ready to buy. Enjoy the guide and we welcome your suggestions and comments.