Closing on a Florida Keys home?

Closing on a Florida Keys home is a significant step in the real estate process. You have a choice between using an attorney or a title company to facilitate the closing. Typically, real estate agents in the Florida Keys recommend their clients to work with local attorneys for a smooth closing process, but ultimately, the decision is yours.

Attorney or Title Company: Whats the Difference?

Attorney:

• Attorneys can offer legal advice and protect your interests during the closing process.
• They can assist with complex legal issues and contractual matters.
• Hiring an attorney may provide added peace of mind, especially for unique cases.
• Charge More than a title company

Title Company:

• Title companies specialize in ensuring a clean title for your property.
• They handle the title search, insurance, and the closing process efficiently.
• Title companies can streamline the process, often with lower costs compared to attorneys.

Funds at Closing:

No matter if you opt for an attorney or a title company, it’s crucial to prepare for the financial aspect of closing. It’s important to note that your real estate agent does not handle the disbursements; this responsibility falls to the closing agent.

• Closing Statement: Prior to the closing, you’ll receive a Closing Disclosure or Settlement Statement. This document outlines all the financial details of the transaction

• Bank Information: Before the closing, you will provide the attorney or the title company with your bank information so that they can facilitate the wire transfer of your funds.

Signing the Paperwork: In-Person or Mail-Away?”

When it comes to the final steps of a Florida Keys home closing, there’s one task that often stands out – signing the paperwork. But how do you prefer to handle this crucial step – in-person or by mail? Let’s explore both options:

In-Person Signing:

• The traditional choice involves meeting at a designated location
• In-person signings offer a personal touch and the opportunity to address any last-minute questions or concerns.

Mail-Away Signing:

Since most of our buyers and sellers do not live in the Florida Keys many of our closings are done by mail.

• Documents are sent to you, and you sign and return them.
• This option provides flexibility, especially if you’re unable to attend the closing in person.
• It’s convenient but may lack the face-to-face interaction of an in-person signing.
• Documents need to be FedExed out a few days before closing so that they come back in time.
• Make sure you tell your closing agent beforehand that you will not be attending the closing.

Ultimately, the choice between in-person or mail-away signing depends on your preferences and circumstances. Your convenience and peace of mind are of utmost importance in the closing process.

Closing day as a seller of your Florida Keys home brings a mix of emotions. Handing over the keys to the new owner signifies the end of an era and the start of a new chapter. The Florida Keys’ natural beauty, with its tropical charm, surrounds you, offering a fond farewell to a beloved property. This moment marks not just a sale but a parting of memories. With the closing process complete, it’s a time to reflect and embrace the journey ahead, knowing that new adventures and horizons await.

Have questions about Closings. Give us a call.

Also check out our Sellers Page for more important information on selecting a Marathon, Florida Realtor

Prumo & Carden

Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over 13 years of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.

Sign up for our Newletter or Download our free List of Service Providers 

Includes Local home Inspectors and Insurance Compaines 

Florida Keys Homes: A Seller’s Guide to Buyer’s Financing

So, you’ve received an offer on your property, but what if it’s contingent upon financing? What does that mean for you as a seller? In this blog post, we’ll explore the different aspects of a financing offer.

Preapproval vs. Prequalification

When a buyer makes an offer, they typically submit either a preapproval or a prequalification. One is better than the other:

Prequalification is like the first step for homebuyers. It’s a quick process where you provide basic financial information to a lender. It gives you a rough idea of what you might afford, but it’s not a guarantee because it’s based on unverified information.

Pre-Approval, on the other hand, is more serious. The lender checks your credit, income, and documents. It’s a strong sign that you can get a mortgage. Sellers prefer it because it shows commitment and the ability to secure financing. In places like the Florida Keys, it’s a smart move for a smoother home-buying process.

Florida Keys Home Lender

On the prequalification or preapproval, there will also be the lender’s contact information. An experienced real estate agent has connections with local lenders. They know who can get the job done and who might encounter difficulties. Your agent can provide valuable insights based on their past dealings with a particular lender, helping you feel confident in your choice.

Calling the Lender

Did you know that the contract allows the seller’s agent to call the buyer’s lender? The lender can’t share personal buyer information, but they can confirm that the buyer is working with them and progressing with the necessary paperwork, which is a positive sign.

30-45 Days

A financing offer typically includes a loan approval deadline within 30 or 45 days from the effective date. This is a period during which sellers can be reassured that the deal will likely be finalized. It might feel like a long wait, but lenders need this time to complete their tasks.

Florida Keys Home Appraisals

Within the 30-45 day timeframe, an appraisal must also take place. The property’s appraisal needs to meet or exceed the agreed-upon price for the bank to lend the money. As a seller, you won’t know the appraised value because it’s something the buyer pays for. If the appraisal falls short, there are options to consider, such as requesting another appraisal or adjusting the price.

Insurances

Buyers needing financing must also secure insurance. Sometimes, insurance costs and mortgage payments can strain the buyer’s budget, potentially causing them to cancel. Usually, the buyer’s agent will explore insurance options during the inspection period.

Financing Contingency

Around half of Florida Keys homes sold involve financing and close without issues. While waiting for approval can be challenging, it’s a crucial part of the process. Your agent will guide you and offer advice throughout, making the journey smoother.

Ready to sell your Florida Keys Home?  Give us a call.

Also check out our Sellers Page for more important information on selecting a Marathon, Florida Realtor

Prumo & Carden

Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over 13 years of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.

Sign up for our Newletter or Download our free List of Service Providers 

Includes Local home Inspectors and Insurance Compaines 

Secure Showings: Protecting Your Florida Keys Home While Selling

You have just listed your home for sale with an experience local real estate agent in the Florida Keys. But now you are wondering what is the process for showing your home?

No Lockboxes

In the Florida Keys, real estate agents rarely use lockboxes. It might seem odd to some, but when showing a home in the Florida Keys, both the seller’s agent and the buyer’s agent are present. So, you never have to worry about having strangers in your home. Your agent will be there to protect and serve your best interests.

Showings

All showings are by appointment only, and buyers are pre-screened by their agent or the selling agent beforehand. As the seller’s agent, our role is to assist the buyer’s agent and their clients, helping with any questions they may have about the home. It’s a team effort that ensures a smooth process.

Full-Time Residence Florida Keys Home

We understand that living in your home while it’s on the market can be a bit challenging. Constantly keeping it clean and having people coming through can be a hassle. That’s why we strive to provide our full-time owners with at least 24 hours’ notice before showings. If we have multiple showings in one day, we try to schedule them back-to-back. It’s also a good practice for full-time residents to tuck away personal items, although we’ve never had any issues with buyers.

Vacation Rentals Florida Keys Homes

The Florida Keys boast numerous vacation rentals, and selling a property that’s also being rented can pose some challenges. In most cases, we schedule showings on Saturdays between check-ins, which can extend the time it takes to sell these types of homes.

Vacant Florida Keys Homes

If your home is vacant, rest assured that both agents will still be present during the showing, maintaining a secure process. You have no need to worry.

Open Houses

During an open house, you don’t need to fret either. Your agent will be there, walking prospective buyers through your home, explaining its features, and attending to any guests that arrive. But, as mentioned earlier, it’s still a good idea to put away any personal items.

Feedback

After the showings, your agent will provide you with valuable feedback on what potential buyers thought of your home.

Selling your Florida Keys home is made simple with your experienced agent by your side!

Ready to sell your Florida Keys Home?  Give us a call.

Also check out our Sellers Page for more important information on selecting a Marathon, Florida Realtor

Prumo & Carden

Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over 13 years of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.

Sign up for our Newletter or Download our free List of Service Providers 

Includes Local home Inspectors and Insurance Compaines 

Handling Inspections and Repairs as a Florida Keys Seller

Selling your Florida Keys home? Congratulations! Now, let’s dive into the world of Florida Keys home inspections and repairs.

Prep for Florida Keys Home Inspections

Before the inspectors arrive, make sure to declutter and fix any known issues, getting your home inspection-ready. Remember, don’t stress too much about the inspection; their job is to find things, even in a perfect house.

The Home Inspection Report

Since the buyer pays for the inspection report, you won’t receive a copy directly. Typically, the buyer’s agent will share parts of the report, with the buyer’s permission, to show you what the inspector found.

Experienced Agent

An experienced real estate agent is invaluable when questions arise from the inspection report. They’ve likely dealt with these issues before and can provide knowledgeable solutions to address any problems.

Repairs

For minor repairs requested by the buyer, it’s a good idea to address them promptly. However, when larger repairs needing a licensed contractor come into play, things can get a bit tricky. If you’re willing to fix significant items, you’ll need to find a contractor who can complete the work before the closing date. If more time is required, you might need to request an extension from the buyer.

Navigating the process of hiring a contractor and timing can sometimes complicate the contract. The quickest solution in these cases is to offer the buyer a credit at the time of closing, allowing them to handle the repairs and keep the timeline on track. Whichever approach makes the most sense to you is okay in this instance.

Florida Keys Home Inspections

In most cases, buyers and sellers can work things out during the inspection period. Occasionally, a buyer may find the work too overwhelming and decide to cancel the contract. That’s okay; it’s better to find a buyer who is the right fit for your home.

Selling a home in the Florida Keys is an adventure. With the right approach, inspections and repairs can be smooth sailing.

Want more Information on Florida Keys Home Inspections? Give us a call.

Also check out our Sellers Page for more important information on selecting a Marathon, Florida Realtor

Prumo & Carden

Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over 13 years of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.

Sign up for our Newletter or Download our free List of Service Providers 

Includes Local home Inspectors and Insurance Compaines