Steps in the process of buying a property
Cecilia Escobar
Cecilia Escobar
Navigating the New Times: Simplified Guide to Buying a Resale Property
In the modern era, the process of purchasing a resale property has evolved, but certain key steps remain fundamental. Here's a brief and simplified version to help you better understand the path to your new home:
Step 1 - The Offer: Your First Step Toward Your Dream Home
After choosing the property that captures your heart, the next step is to make an offer. This is the moment you let the seller know you are interested in buying and at what price. Your guide in this process will be the real estate agent, who will assist you in creating the offer document. Make sure to include the mortgage pre-approval letter if applicable. For cash purchases, attach a bank statement supporting the funds you will use.
Step 2 - Offer Acceptance: Making Things Official
If the seller accepts your offer, the legal gears will start turning. Instruction will be given to a "Title Company" to prepare all the necessary documentation for the property transfer, handled by specialized attorneys. Here, the buyer needs to make a reservation for the property, usually paying between 5% and 10% of the total offer amount. This money is placed in an escrow account known as the "Escrow Money Deposit." It's important to note that this process may vary if it's a pre-construction property.
Step 3 - The Closing: Sealing the Deal
Once the attorneys have thoroughly researched the property title and confirmed there are no additional liens, the closing day will be scheduled. In this ceremony, the final payment of the remaining property amount will be made, and the official title transfer to the new owner will take place.
Important: A resale property implies it has had previous owners and is not a new construction. While these steps are essential, keep in mind that the exact process may vary, and it's always advisable to seek guidance from certified professionals before embarking on this exciting journey. Welcome to your new home!
Cecilia Escobar, born in Guayaquil, Ecuador and has lived in Florida for more than 20 years. She started working in real estate several years ago, helping many sellers to get the best value for their homes and the buyer to achieve the dream of home ownership.
She believes in sharing her own experiences and what she has learned from others, in order to create the most peaceful atmosphere possible in every transaction by going the extra mile for her clients.
Integrity, honesty, commitment, passion and professionalism represents her.
Cecilia Escobar nacida en Guayaquil-Ecuador reside en la Florida hace más de 20 años. Comenzó a trabajar en el sector inmobiliario hace ya varios años, ayudando así a muchos vendedores a obtener el mejor valor por sus casas y al comprador a alcanzar el sueño de ser propietario de hogar.
Cree en compartir sus propias experiencias y lo que ha aprendido de los demás para así crear una atmósfera lo más tranquila posible en cada transacción dando la milla extra por sus clientes.
Integridad, honestidad, compromiso, pasión y profesionalismo la representan.
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