Steps to Buying a Property in Miami
It is very important to be clear about the search criteria, so that the search is optimized and the options that may interest you are minimized. What are these criteria?
It is very important to be clear about the search criteria, so that the search is optimized and the options that may interest you are minimized.
Property search: You need information according to your tastes, budget and needs.
Identification of the property: We accompany you to personally know the properties that you choose during the search stage and we help you to ensure that it meets your expectations and needs.
Sending an offer: Once you choose the property to buy, the offered conditions are sent, which are: Price, initial fee, deposits, method of payment, time to conclude the date (date closing date) and date to carry out the respective inspections. For this we work with contracts established and approved by the Association of Florida Real Estate Agents, which makes them well known to all the agents involved.
Acceptance of the Offer: In a regular transaction, the response time may be one to two days. When the property is in process for the bank to leave it (Short Sale or Bank Auction) the times cannot be defined. Once both parties reach an agreement, a buyer-seller contract is established and the closing process begins.
Inspection of the property: Review of the state of the property.
Financing: It is very common for foreigners to buy properties in Miami through financing. Our mortgage loan advisers will make all of your work easier during this stage. From the compilation of necessary documents, obtaining the loan under the best financing conditions and the best possible rate, and all the necessary steps for credit are satisfactorily.
Appraisal of the property (as long as there is financing): The bank sending an expert appraiser to approve the loan amount.
Walk the property: This is done the day of closing or the day before. The goal is to confirm that the property is the same as the time the buyer saw it when they sent the offer.
Closing: This is the most awaited moment and where you will be handed the keys to your property. Here the closing documents are signed and the money is delivered to finalize the purchase, whether it comes from the bank in the form of a loan or the purchase is in cash. As of this moment you have completed your goal of owning that house or apartment.
Set evolution closing: This can take between 30 and 45 days from the moment of having the contract if the property is being financed. When it is in cash the times are shorter. For the closing part, a Title company is normally commissioned to ensure that the property is free from problems and debt.
In case of a cash purchase you can close your property from your country of origin. With our support, we ensure that all parties involved: lawyers, title company, bank, other party’s real estate agent, condominium authorities and inspectors comply with their authorities in order to have a satisfactory closure.