If you are a first-time home buyer in Florida there are some things you would do well to take into consideration about the process. The timeline for purchasing a new home can vary greatly from year to year. If you are ready to purchase, there are some specifics to keep in mind for the 2022 home buying process Florida.
The Home Buying Process Florida
When it comes to buying a home, timing can be one of the trickiest things to get right. There are just so many factors that can delay a move, especially when it comes to the home buying process Florida.
Getting stuck with a lease that has come to an end and a closing that is nowhere in sight is not a dilemma you want to face as a first-time home buyer in Florida in 2022. Many buyers struggle with the timing and have to think on their feet to create solutions for how to deal with delays and tricky timing. If you want to avoid staying in hotels and temporary housing situations while your furniture sits in an expensive storage unit, you will need to prepare! But, don’t worry, with a little guidance, you can get the timing down.
In terms of the home buying process Florida can be a little tricky, but don’t let that get in your way. In general, the process can take anywhere from one month to six months, and in some cases longer. Shopping for a house is a personal experience and for some people, the decision will not come quickly.
If you want to speed up the home buying process as a first-time home buyer in Florida, you can plan ahead and look for houses in only the locations that you know will be within your budget and that you would want to live in. Like anywhere else you might settle, there are some neighborhoods that will be more suitable to your needs than others.
A great way to speed up the process is to make aggressive offers when you do find a house that meets your needs. Getting outbid is not only time-consuming but it can really be a draining experience overall.
If you are worried that the home buying process Florida will take too long here are a few tips that should help you speed up the process.
Get yourself a good real estate agent – 1 to 2 weeks
In all honesty, it may take you one to two weeks to get yourself a good real estate agent. Sure, you could go with the first realtor you find online, but do you really want to go through the process of buying your first home with someone you haven’t fully vetted? Do your homework to ensure a smooth home buying experience.
First of all, you can formulate a list of questions to ask potential agents. For example, what is their background and what type of real estate do they specialize in? How familiar are they with the area you want to buy in? After you’ve asked your questions and you feel satisfied with the answers you can do a deeper dive into their customer reviews.
Find the best lender and get pre-approved – 1 to 2 weeks
You may already have a great lender that you want to work with, if not, you will need to find a lender. The more information you have about what types of mortgage would be best for you, the better. A good lender can help you find programs that will best meet your financial needs and house requirements. Once you have settled on a lender you will need to follow their requirements to get pre-approved.
Check out some properties 1 week to 6 months
Let’s be real, chances are you have been browsing online long before you were actually ready to make the big move. Your next step is to attend viewings which may be virtual or in person. Your agent will be able to assist you throughout the viewing process.
Don’t hesitate to make an offer – 1 week
When you find the right house don’t hesitate to make an offer, less you miss out on the property altogether. Making a conservative offer could mean losing the bid. Think seriously about your offer and take your agent’s advice. Your offer could be flat-out denied, accepted (yay!) or the owner could come back with a counteroffer. If that is the case you may accept or continue the negotiating.
Time to get your loan approved – 1 to 2 weeks
Your offer has been accepted. Congratulations! Now it’s time to get your loan approved. You will work with your lender to provide all the necessary documentation, crossing your Is and dotting your Ts. This step, called closing, can take several weeks to a month or even two months in some cases.
Home appraisal – 1 to 2 weeks
Part of closing on a house is getting an appraisal. Your lender will send out an appraiser to assess the value of the house. If your offer was over the value of the house you may run into some delays here. The lender may ask you to increase your down payment or to renegotiate with the seller to bring the price down to the appraised value. If all goes well with the appraisal things should take about a week.
Home inspection – 2 weeks
After your loan has been approved by the lender you will want to hire a home inspector. This is an important step because there may be costly problems with the home that you would not have been able to otherwise detect. The inspection process takes roughly two weeks, however, if there are major issues with the home things are sure to be delayed and in severe cases, a bad inspection report could stop you in your tracks.
Closing on your new home – 1 day
Closing day is when you pay your down payment and sign about a million documents. Sounds tedious, right? But this is the light at the end of the tunnel, and the good news? You now own your own home!
There are ways to streamline this process. Connecting with experienced builder Synergy Homes makes your dream of ownership much more accessible and can accelerate your timeline. Contact us to learn more.
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