Buying Fort Lauderdale Real Estate - Making an Offer

Posted by Eric Miller on Thursday, August 15th, 2013 at 7:19am.

Fort Lauderdale Real Estate buyers who often come from other parts of the United States, and often other countries are sometime unfamiliar with the items that make for a strong real estate offer. In general, the principle of always negotiating in good faith will result in a deal that is a win for all parties. When writing an offer on property in Fort Lauderdale understanding exactly what you are presenting to the seller will go along way in a smooth negotiation.

When purchasing a home or condominium there are standards and traditions of all local real estate markets that when adhered to will allow you to make the best possible deal. Your local real estate expert will certainly spend time discussing the methods of making an offer in the market you are looking to call home.

In the Fort Lauderdale Real Estate market and true for all of Broward County it is typical for the buyer to select the closing agent and pay for their own title insurance, but even this point can in some circumstances be negotiable. When buying a Fort Lauderdale Home or Condominium there are two basic ways to make an offer, even though there can be numerous variations to them.

The first, is “AS-IS with right to inspect” and simply is exactly as it sounds. You have the right to inspect the property and back out of the deal if you deem it unacceptable. You may be able to renegotiate with the seller if something major comes up but part of negotiating an “as-is” contract in good faith is understanding that things will come up and within certain parameters you are willing to accept them. Starting to ask for concessions immediately is a sign that the “as-is” part of the deal was not presented in good faith.

The second method of presenting a contract is with a “repair clause” in it. The clause calls for the seller to make repairs up to a certain percentage of the selling price of the home. This type of offer is an agreement between the buyer and seller, for the seller to pay for repairs up to a certain level within the contract and arrive at the closing table as planned. Often it may harder to get the seller to their bottom price as they need to plan for possible expenses.

Either method of purchasing property is often seen in Fort Lauderdale and throughout Broward County but be aware that negotiating in good faith and following the terms of your agreement, unless something drastic is revealed, is always the best way to reach the closing table with a happy buyer and seller, viewing the deal as a win for all parties.

 

Eric Miller is an award winning Florida Realtor, salesperson and broker. His website, FortLauderdaleGroup.com provides an up-to-date guide to Fort Lauderdale Condos for sale, and the most complete buyer, seller and investor information for the Fort Lauderdale Real Estate Market.

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