Buyer Information
November 19, 2024
Buying a home is a complex process with many steps. One of them is getting your dream home inspected by a licensed professional. Some home buyers may feel tempted to skip this step because they think it will speed up the purchase process. Or, they just don’t want to pay for it. But the truth is, a home inspection can save you from making a catastrophic mistake by unknowingly purchasing a home in need of major repairs. Before delving into more reasons to get a home inspection, let’s break down what a home inspector actually does: What is a Home Inspection? The purpose of a home inspection is to alert you of any potential safety hazards or usability problems in […]
November 12, 2024
Buying or selling a home is a life-changing decision. So, it’s no surprise that sometimes, a buyer or a seller will suddenly change their mind and decide to back out of a signed real estate contract, or home purchase agreement. Can someone legally do this? The short answer for both parties is yes. But whether you’re a buyer or a seller, canceling a real estate contract can come with a few consequences. In some cases, you could run into serious financial and legal implications. Can a Buyer Back Out of a Real Estate Contract? As a home buyer, yes, you can back out of a home purchase agreement. What happens next, however, is determined by the terms and conditions of […]
October 29, 2024
There are two types of letters you can get from a bank when you’re looking to buy a home: a pre-qualification letter and a pre-approval letter. Pre-qualification gives you a ballpark estimate on how much you’ll be able to borrow to buy a home, whereas a pre-approval is more detailed and says exactly how much you will be able to borrow. You should have a pre-approval letter before you are ready to make an offer on a home. Why You Need a Pre-Approval Letter to Start the Buying Process For many first-time buyers, once they get their pre-approval letter from a mortgage banker, the process begins. While you can make an offer on a home with just a pre-qualification letter, it […]
October 22, 2024
Open Houses are used by sellers to get a lot of foot traffic and hopefully get an offer or two. For first time buyers, Open Houses are different – especially if you are not 100% sold on the home before you walk in the door. They are a great crash course in learning how to look at homes for sale. And if you’re coming into town from out-of-state, they are a great chance to see a lot of homes in a small time frame. Here’s how we tell our clients to use Open Houses to find the right home. Get a Feel For the Neighborhood For many first-time buyers, once they get their pre-approval letter from a mortgage banker, they typically go […]
September 24, 2024
When you are looking to make a real estate transaction, the first step is to always figure out how much you can afford to spend and how much you can finance.. There are a lot of factors that go into it, but most people qualify for a mortgage that adds up to less than 36% of their monthly income for principal, interest, insurance, and taxes (aka a Debt-to-income ratio of 36). That being said, you should speak to a mortgage professional and get pre-approved for an amount. Evaluate your financial situation The important thing to remember is that personal timing is more key than market timing. When looking for a mortgage, you have to make sure you’re financially sound and […]
September 17, 2024
Everyone has an opinion as to whether they would prefer a newer home or an older one. Whichever side of the debate you fall to, it’s important to weigh the pluses and minuses. Sometimes finding the perfect home requires a little flexibility on what you previously thought. Pros of buying an old house Architecture While Miami is still a young city, there are plenty of homes that are 50-100 years old. When you step into an older home, you can feelthe history as you walk through the rooms. That’s not as common in newer homes. Mature landscape The best time to plant a tree is 30 years ago. If you want to live with a yard that has shade and don’t want […]
September 10, 2024
When you are buying a home – particularly your first home, but is still true no matter how many times you do it – it’s easy to get overwhelmed with the prospect and excited about the potential of a home. Over the years, we have done a lot of education to help home buyers find the perfect home – and large part of that education is getting them to ask the right questions when they are looking at a home so they will be as happy and excited about the home on day 3,650 of owning it as they are on day one. Questions to ask before the showing Before you go to the viewing, you should connect with your […]
August 20, 2024
Coral Gables is one of two zip codes that saw Miami’s highest jumps in typical home values compared to just a year ago. Coral Gables homes saw a 14% increase in their typical home values compared to last year. The only other zip code in Miami-Dade County to see the same jump was Homestead, bookending the entirety of the market County-wide. Coral Gables home prices The median listing home price is at $1,091 per square foot, though this will probably net you a well-maintained home rather than a new build or a home on a large lot. In June 2024, the median sale price was at $1,798. How quickly are homes selling? Coral Gable homes had an average of 67 days […]
August 13, 2024
Picture it—you’re home from a long day at the office. You take your shoes off, get comfortable and you head to your new condo’s balcony to take in some fresh air and you are met with a stunning view of the ocean or the sunsetting over Miami. Sounds nice, right? It can be real. Here are five of the best areas in Miami for a condo with a view. Bal Harbour Located at the northern tip of Miami Beach, Bal Harbour packs a lot of extravagance into its one square mile location. Noted for its wide variety of luxury shopping, it’s the views that’ll really take your breath away. To the east you have the Atlantic ocean, but you can’t […]