Selling Explained

How do I sell a house in Florida?

First and most importantly find a good Realtor. We cannot stress enough how important it is. You may ask why, when it seems commission here in Florida is so much higher than in the U.K.

The real estate market here in Florida is computerised. All houses listed with an agent are put on a computer for every other agent to view. Therefore your home will get far greater coverage than just being photographed and put in a shop window. The commission is split between the listing agent (your agent) and the selling agent (the buyers). Your agent will usually pay for most of the advertising costs themselves, out of their own pocket. These costs can be very high, as much as $3,000 in one magazine for just one issue.

Whether you are living overseas or in the U.S.A you need someone reliable to be on hand to make the transaction as smooth and problem free as is possible. Your Florida Dream Home team has the experience and will guide you every step on the way.

House prices here in Florida have been rising rapidly. Without the expertise of a Realtor you could lose as much as 20% of the value of your home. A good Realtor is in touch with your neighbourhood, will know exactly what is going on in your area.

There will be a lot of paperwork, many phone calls to be made and someone on hand to let in inspectors, contractors and potential buyers in. America is the land of the lawyer, and using a Realtor is an important line of protection. Your Realtor will store all paperwork for seven years and will have insurance to protect against errors and omissions. If you do not use a Realtor you will have to employ an Attorney to draw up the correct papers. That can cost a lot of money!

Find an Agent you have a good rapport with. You need someone that is reliable, answers the phone professionally and returns phone calls promptly. Make sure they know you may be unavailable if you live overseas and ask if they are willing to let the appraiser and the inspector into the house to arrange any necessary repairs. A good Realtor will consult with you every step of the way. They will go over the paperwork with you, and ask for your input for the advertising and presentation. Then you will hand over a set of keys........and relax.

If you are a US resident or citizen and you are selling a second home or investment property, you will need to employ a Real Estate Attorney to close the deal. You need to plan ahead if you want to do a 1031 exchange. If this is done correctly, you will be able to defer all profits you make, without paying any capital gains taxes.

This brings us to another subject, getting your home ready to sell. The most important thing, after finding the right Realtor of course, is to de-personalise your home.
Take down the pictures on the refrigerator. Move some things out of the wardrobe. You want to create a feeling of space and relaxation, not cramped chaos. To do this effectively you may need to remove some furniture and redecorate some areas. Natural light is a strong asset, make the most of it. Remember the house must appeal to as many potential buyers as possible, your Realtor can make suggestions.. There are many designers who specialise in presenting homes for sale. Your Realtor can put you in touch and organise the best possible deal.

When an offer is made on your property, your Realtor will present it to you. There may be more than one offer. It is important to look carefully at the terms. The highest price may not be the best offer. You must consider how the person will be paying for the house.
Will it be a cash purchase?
Will there be a mortgage of 80%?
Is the buyer trying to put as little money on the table as possible?
If they are trying to obtain a loan of 90% or more, it could be a problem. The bank may request so many documents from the buyer that they may fail to close the deal after weeks of negotiation. Your Realtor is there to advise you and avoid these sorts of situations. Your Realtor will keep in regular contact with all parties and head off any potential hiccups before they occur.

Finally, your Realtor will go over the closing statements and make sure disbursement cheques are correctly made out and bring the deal to a successful conclusion.

We hope this is helpful to you.

Sincerely 'Your Florida Dream Home' team.