You Should Know About Buying a Florida Home
- Realtors - Working with the right realtor can make
the process of selecting a new home simpler, easier
and faster. Be sure you know whom the broker represents.
Does the broker represent you, does the broker represent
the seller or does the broker represent both of you
a so-called "dual agency"?
- Attorneys - Get legal advice before you
sign the contract. Once you sign the contract, it
may be too late.
- Title Insurance - You will need title insurance,
to be sure that title to the property is being properly
conveyed to you and is free and clear of liens and
encumbrances. Premier Title takes its motto "A
Different Kind Of Title Company" very
seriously and will make your closing as fast and
easy as possible.
- Purchase Price - It is easy for you, Premier Title
or your realtor or attorney to find out purchase
price information about the home you desire and other
homes, as well.
- Survey - The only way to be absolutely sure that
you are buying the land and building you think you
are buying is to have the property surveyed.
- Lender - Shop around and ask for recommendations.
Costs and service vary.
- Inspections - You should hire a licensed building
inspection company to do a comprehensive inspection
on your new home.
- Termite Inspection/Roof Inspection - If you choose
not to have a comprehensive inspection, consider
having a termite inspection performed and having
the roof inspected.
- Flooding - Determine whether the property you desire
is located in a flood zone or is prone to frequent
flooding prior to signing a contract.
- Homeowner's Insurance - Casualty insurance on residences
in Florida can be difficult to get, in certain areas
and certain price ranges. Be sure to check this out
and the cost before signing a contract. Also, hurricane
insurance may not be available when a hurricane threatens.
Your contract needs to contemplate this.
- Homeowner Association or Condominium Association
- If you are buying a condominium or if your home
is subject to a homeowners association regime, learn
as much as you can about the applicable rules and
regulations, and yearly fees.
- Modifications to Your Home - Homeowners association
rules and regulations and local ordinances and boards
may come into play. Be sure you know the rules before
signing a contract.
- Bank - You will need to establish a local banking
- Closing Costs - Have Premier Title, your realtor
or attorney give you an estimate of all closing costs
that you will be responsible for.
- Radon Gas - Your attorney or broker can check with
the county health unit where the home is located
to see if radon gas is a problem in your area.
- Lead-Based Paint - Some older homes contain lead-based
paint, a potential health hazard.
- Open Permits – There are thousands of permits
for work on residences in southeast Florida that
have been obtained by contractors but have not been "closed." There
may be a variety of reasons for this, but the most
common is that the contractor completed the work
but never requested a final inspection from the city
or county. This can be a terrible problem for
a buyer who may innocently purchase a home with open
permits, and then not be able to obtain a building
permit to do additional work until all of the prior
open permits have been resolved. This can be
an extremely time consuming and expensive process. The
simple solution is to check with the local (city
or county) building department to determine whether
there are any open permits outstanding on the residence
you are purchasing.
- Becoming a Florida Resident - Owning a home in
Florida may not be enough to establish that you are
a Florida resident. Check with your attorney or Premier
Paula Budd, CP, FRP, Vice President
Palm Beach, Florida
Telephone: (561) 650-0721