Fort Lauderdale Real Estate | Real Estate Articles

Finding Great Fort Lauderdale Properties

In the Fort Lauderdale Real Estate market today, investing in real estate represents a great opportunity. Maybe even easier and more profitable than ever, as we continue to see Fort Lauderdale Homes for Sale for less than they would cost to build. As the market begins to improve there will be many happy real estate investors. Even in a healthy market, with new tools to find and evaluate potentially profitable properties, you need to be careful and make sure to maximize the odds of winning, by considering some of these tips.

The process of finding Fort Lauderdale 'diamonds in the rough' has been revolutionized by the Internet. You can spend a great deal of time on-line finding descriptions, prices, photos, and useful legal info about properties.  In the Fort Lauderdale Real Estate market properties a great deal of information can be found on line at the Broward County Property Appraisers website. With all the digging you can do nothing will replace having a great realtor, who is on the ground working full-time on your team. Remember fees paid to the realtor at closing are most often paid by the seller so have an agent you can count on in your corner, is a bargain.

Find a realtor who is willing to sit down with you and discuss exactly what types of property you are looking for. Make sure they understand the competitive need of finding these homes first and acting quickly. Build a relationship that will make you a top priority to the realtor and the relationship will benefit both parties.

Even if you use the web to find a great value, be prepared to have your realtor do some investigation. The only way to judge properly is to visit the property, the surrounding area, and investigate the trends of recent sales. If you visit on your own, look at, For Sale signs of unrepresented sellers, For Rent signs, and talk to some of the neighbors. I do suggest that should you want information about the unlisted property you have your realtor call for you; it’s about maintaining that relationship.

The person next door might know something about the property, if you see them stop and chat. Be prepared to make more than one visit, in different kinds of weather and at different times of day, if possible. Property, houses, and neighborhoods look different at different times of day. They even look different on weekdays compared to weekends. Use your due diligence period wisely. 

Having an inspector, inspect a property is a given but sincerely the best way to check for a leaky roof is to go when it's raining. Sometimes you can even spot issues from the exterior by the homes eaves. The goal here is not to buy the property, the goal is to buy it right and make a good investment with this in mind the more information you can get about the property the better.

Once you have done your homework, entering a contract contingent on an inspection is the next step. When you and your realtor write the offer contract the goal is to obtain the best price, not to force the seller to do repairs. Your realtor can provide you with a list of experienced and reliable inspectors for you to interview. Finding the least expensive inspector should not be your goal. Find one you can talk to and develop a relationship with, the price will be repaid many times over, especially if you use them regularly in the future. The more you can learn about the property during the inspection the better off you are.

Review the report carefully. It's not required that everything be perfect, think of it as a blueprint for your renovation plans. Every major and minor flaw should be recorded. Leaky plumbing or roofs, damaged walls or floors, inoperative air conditioning, hot water heaters, etc. Look especially for things that could cause a dangerous situation such as aluminum wiring, or old fuse panels, and possibly result in a more expensive project down the road.

Everything is negotiable, and there's no rule about who pays for repairs. Very few properties, even newly constructed ones, are perfect. If you are planning on getting a great deal, plan of accepting some flaws. 

Eric Miller is an award winning Florida Realtor, salesperson and broker. His website Fort Lauderdale Real Estate provides the most complete buyer, seller and investor information for the Fort Lauderdale Real Estate Market.