Serious buyers need more than just online listing details -

With our South Florida "season" already starting, buyers are actively looking at online home listings...

Especially when they start looking online, buyers often overlook the various steps needed to actually buy and close on their South Florida residence or second home.

It's important for them to know what to expect so they can confidently submit an offer, address all the details, and arrive at closing well-informed and relaxed.

Online home searches can be overwhelming to buyers -

It may seem like there are almost too many properties, Realtors�, neighborhoods, communities, condo buildings...

and so many different listing sites too.

Our marketing can be national or even international, yet when it comes time to make the deal work, buyers still depend on local professionals to provide accurate guidance.

That's where you and your local experience come in.

Responding to online inquiries with additional and supporting info (not just what's in the listing) can help build the rapport and trust that lead to a great client-Realtor� relationship...even when you start out hundreds of miles away from each other.

Everyone in the deal benefits when buyers are well-informed and ready to move forward:

Buyers - ready to put in a solid offer that will be taken seriously

by the seller - already comfortable and know what they

can afford.

Sellers - aren't left hanging with questionable contingencies,

they don't worry about lost buyers while listing status

is "Pending" - they know the deal will close.

Realtors� - optimize your time and effort by showing buyers

homes they like and can actually afford - have more

offers close.

One of the first considerations is whether your buyer will pay cash or use financing. There are benefits to both, and buyers should be aware of those benefits. See "Cash or Finance" in the Newsletter Archives.

When they want to use financing, the first few things they should do are:

Check their credit, making sure it is ready for review by

lenders.

Start gathering documents necessary to support a

mortgage application.

Save or be ready to transfer money for down payment

and closing costs.

Then have them get in touch with a good local Loan Originator

to get a real Pre-Approval, which addresses upfront many of the issues that can slow down a deal.

Whether or not they want to use financing, this is also a good time to start letting buyers know about :

Closing costs - appraisal, survey, transfer taxes/doc stamps,
escrows for insurance and property taxes

Insurance - homeowners/hazard, flood, windstorm, condo HO6,

owners/lenders title policies

HOA dues - building, community, clubhouse or amenity fees

Doc stamps on the deed and mortgage, intangible tax, title insurance policies and endorsements, and county recording fees here may be much different from what your buyers are familiar with in another county or state.

They will also need to know the different types of insurance that apply here. Windstorm and flood may not be risks where they now live.

Knowing about condo management and administration is important for those looking at South Florida condos. The Condo Questionnaire is a helpful tool for boiling down the details in the hundred or so pages of condo docs. Again, see the Newsletter Archives for discussions on condo topics.

Home inspections may be performed a bit differently here than "up north". Be sure buyers know about Flood Certifications, Wind Mitigation studies, and other inspection items that may be specific to South Florida markets.

I'll be glad to work up an Itemized Closing Charges Work-sheet on any of your listings so buyers can make property-specific cost comparisons.

After you have an accepted offer and contract, your buyer's lender will provide a formal Loan Estimate disclosure showing the actual costs involved with closing the deal. On cash trans-actions, the title company or closing Attorney will provide an estimate of costs.

The Charges Worksheet I put together is a pre-contract outline so your buyers have a general idea what to expect.

As we have discussed in other newsletters, well-informed buyers and sellers make our trip to closing so much smoother.

Let me reinforce the trust

your buyer has placed in you! sm