Things to Consider Before Selling a Home in Florida
- Find an Agent
If you don't already have or aren't an agent yourself, consider hiring a licensed Real Estate Agent before jumping into all of the complicated details of selling a home. Their job is to make your job easier. You can find certified real estate agents by doing a search on the Florida Department of Business & Professional Regulation's Licensee site. Once you've chosen one who suits you and your home selling needs, sign a listing agreement to make sure that everyone involved is aware of all the details of your business relationship. After you've made an agreement with your real estate agent, they will help you price your home and get it posted on listing sites.
- Disclosure is Required
In Florida, it is essential that all of the information about a listing is fully disclosed. Make sure all details about the condition of the property. This is especially important for things that are not easily observable, such as asbestos, termites, electrical issues, or even small non-issues that could contribute to the cost of the property, like HOA fees. Licensed Realtors in Florida have a disclosure form that will ensure you cover all of your bases in this step.
- Sign on the Dotted Line
After the final offer is made but before the closing of the home, both the buyer and seller will sign a contract on the property. This puts everything in writing and makes clear all of the contingencies of the deal so that the buyers and sellers are on the same page. Usually the agreed upon cost and closing date are included, as well as information about the financing terms. After the contract is signed, the deal will go into escrow, which means that a neutral third party is in charge of the purchase agreement, while the buyers and sellers complete loan information and other preliminary closing details. This allows buyers and sellers to know that neither side is being favored in the process.
- Closing Time
Another important detail to know about home sales in Florida, is that the sellers do not need to be present at the closing. Therefore, once the preliminary steps are complete, the buyer can arrange a closing date and time without worrying about the seller's schedule (just make sure someone gets the keys from them). Furthermore, Florida does not require a lawyer to be involved in buying or selling a home. If you want or have a lawyer to work with that is up to you but it is not required, which can also save time and money on Florida home purchases.
- Homestead Exemptions
Finally, know that in Florida there are opportunities for major tax exemptions if a property is a homestead. However, it is important to check and double check the details of the complex laws surrounding the qualifications related to homestead properties. Do your research on your property and know that a homestead in Florida has unlimited value, can be inherited, and in instated immediately upon purchasing a property.
Source:
https://www.lawyers.com/legal-info/research/florida/selling-a-house-in-florida.html
Comments