BUYER'S GUIDE TO VACATION HOME PURCHASE

THE BUYING PROCESS

 

 

If you have never bought a home in Florida before it can seem confusing at first. In fact it is a straightforward and logical process. This section of my site helps to put each step in perspective, and describes the various stages from making an offer to closing the deal and beyond. If you have any questions or concerns that are not answered in this section, please don't hesitate to email me about them.

 

 

 

A FEW QUICK DEFINITIONS

 

 

Escrow account - a legally protected holding account into which a buyer's deposit will be retained until released at closing.

 

Title company - the title company acts in a legal capacity, confirming clear title, arranging title insurance, and coordinating closing and distributing funds.

 

Pre-qualification - a preliminary estimate of whether a buyer will be able to obtain financing, based on the buyer's stated financial situation.

 

Pre-approval - a firm offer of financing, based on documentary evidence of the buyer's financial status.

 

Home appraisal - this is an independent valuation of the home, required by the lender as the basis for the loan amount.

 

Home inspection - this is carried out at the buyer's expense to identify any problems with the home that may need to be fixed before closing.

 


 

 

Denis Le Marchant-Smith,
Exclusive Buyer Agent, Owner/Broker, Graduate, Realtor© Institute



This website is produced and maintained by Denis Le Marchant-Smith, real estate broker with Hightower Realty. Please contact me if you have any questions about this community or to report errors, broken links, etc.