Rampart Homes, Inc.
Design, Construction, Renovation
Sarasota Real Estate Expert
Helpful Tips for Buyers of
As your first step, Learn about buying and selling Real Estate. Reading the articles I've included in my ABC's of Real Estate section will assure you know what you're getting into
Knowing how much to offer for the home you want in the Sarasota Florida real estate market is one of the most difficult parts of buying a home. Ask your Buyers Agent for a list of recently sold properties of comparable size, location and amenities. Comparing the prices of similar Sarasota area homes will tell you whether this property is realistically priced.
If the property has been on the market for a while, the owner may accept a below-market offer. But, if the property is very desirable and other buyers are interested in it too, the seller may just reject your offer wasting everyone's time. Your Buyers Agent can give you good advice on the price to offer.
Learn the difference between some commonly believed "Myths" versus the "Facts" about buying a new home.
Get real estate advice from a Licensed Professional Buyers Agent. Don't count on Cousin Bob who was a Realtor a long time ago. The Sarasota real estate agent representing the Seller won't necessarily tell you all you need to know, either. When I act as your Buyer's Agent, I am required by law to tell you everything I know that could affect the value of any home in the Sarasota Florida area.
Sarasota is a very much "in demand" area. Property prices here, while still attractive, have been going up consistently. Properties you saw last year are probably no longer available at that price. If you want a home here, buy it NOW before the price goes up even more.
Deciding how large an earnest money deposit you should to make with your offer is an important step. You want your "earnest money deposit" to be large enough to show the seller you are serious, but not so large you are placing significant funds at risk. I will help you determine the right earnest money deposit amount given the market conditions is our area.
Realize what a difference your "Down Payment" can make. If your down payment is at least 20% of the purchase price, you will avoid paying for "Mortgage Insurance." Also, some mortgage providers give a lower interest rate if you make more than the minimum required down payment.
Get "pre-approved" for a mortgage. The process you will go through with a mortgage broker or bank will not only let you know how much home you can afford. It will also improve your chances of getting the Sarasota home or condo you want at "your price". Sellers are more likely to accept an offer a bit below their asking price if you're "already approved.".
Don't make big purchases or move money around before applying for a mortgage Approval for a mortgage depends, in part, on the ratio of your income to current debt. Buying a new car or a home theater system could put your debt ratio over the limit. Similarly, during the approval process, the mortgage broker will review your "sources of funds." It helps if your checking, savings and investment accounts remain stable and in the same place for a few months before you apply for a mortgage.
For Resale Properties, get a "Professional Inspection." A home inspection will uncover any major faults in the home. Then, the Seller, not you, pays to correct them.
For New Construction homes, decide what you want and stick with it. Builders' sales reps may try to sell you upgrades which add little, if any, value to your home when you re-sell it. We know which upgrades add value and which don't.
I can help you buy any home from Bradenton to Sarasota to Venice Florida -- new construction or existing homes that you see in "Newspaper Ads," by driving by "For Sale" or "For Sale By Owner" signs or by visiting an "Open House." As your Buyers Agent, my only objective will be to help you find the right Sarasota area property at the right price.
Let me show you all that Sunny Sarasota Florida has to offer !
Connie BelmontRampart Homes, Inc.
Design, Construction, Renovation