How long does it take to closing the deal for an out of state buyer? Do we need a lawyer? It will be in Isla Del Sol.

Asked by ronghuicai, Saint Petersburg, FL Tue Oct 30, 2012

My husband and I are thinking to buy a condo on Isla del sol. It will be likely rented out most of the time if possible. We live out of state at will be there during Christmas week this year to look around and vacationing. I looked online for over a month and found few that I like

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6
Cathy Starkw…, Agent, Celebration, FL
Tue Apr 22, 2014
Closing on a property will be the same if you are in state purchaser or out of state. If there's no financing involved and it's a standard resell, you can close in as little as 5-7 days (if the title is clear), the average for a cash purchase is 14-21 days. If you have financing, your lender will most likely need 30 days to close the loan. Some lenders can close in less than 30 days, RP Funding can close in 10 days and many other lenders can rush to cut the 30 day if need be. However, assume 30-days as an average when a lender is involved. If it's a bank owned property, they may have certain time frames associated with the type of funding. If it's a bank owned, you're closing could be delayed if the title company begins research and finds an issue with the title or if there are complications with the HOA settlement agreement. In the case of a short sale, prepare to be patient... this could take as little as 30-days if it's pre-approved short sale but could take months if it's not. Patience is the key with any short sale. Good luck!

Cathy Starkweather
Realtor & Investment Home Specialist
La Rosa Realty, LLC / Celebration, FL
01.407.274.8476 / cathy@jerrybarker.com
0 votes
Terry Uli, Agent, Saint Petersburg, FL
Wed Oct 31, 2012
I work with a number of out-of-state buyers. The closing timeframe is the same as if you lived here. Documents can be mailed to you by the title company for signature. Unless you would like to have an attorney review any paperwork, the closing company will assist in the preparation of the documents for signature, make certain title is clean, get estoppels, etc. Every condo association is different and has restrictions on leasing, etc.

Would welcome the opportunity to work with you. I have lived in the area since 1990.

Terry A Yimin
Broker Associate
USAA Preferred Agent
Century 21 Shaw Realty Group

727-254-0550
terry.yimin@century21.com
0 votes
Hi Terry I am a 54 yr old male on disability and found a nice 55+ mobile home
for sale . I am currently on disability for life the seller wants 6500.00 I would like to counter with 5200.00 but I need financing its in st pete I have been renting for 1 and half years here in st pete think you can help ? jensen4560@yahoo.com thank you Mr Randall Jensen ..
Flag Thu Apr 24, 2014
Carin Bowman, Agent,
Tue Oct 30, 2012
There is no time difference for an out of state buyer. If you are planning on renting most of the time make sure you know the rental policies of the condo's. There are 7, 30, & 90 day rentals. Please let me know if you need a list of whats available in the area. Just send me your criteria, beds, baths, etc. and I will be glad to keep you up to date. I live close by and will be available during the week of Christmas.

Thanks,

Carin Bowman

carinbowman@aol.com
Century 21 R E Champions
813-363-4642
0 votes
Compass Real…, , Saint Petersburg, FL
Tue Oct 30, 2012
Our office is located on Isla del Sol and we will be happy to help you with any questions and to schedule showings while you are here during the holidays. Our phone number is 727-864-5624. Thank you.

Chris Robison
Compass Real Estate
0 votes
Darla Schroe…, Agent, Madeira Beach, FL
Tue Oct 30, 2012
Hello and congratulations on your decision to purchase property in waterfront community of Isla del sol.
Closing from start to finish when financing is involved is generally at least 45 days - whether out of state or not. If purchasing with cash, closing can be a lot faster - generally 15 to 30 days which includes time for the Title Company - or lawyer office - to perform title search and abstract. Also, during this time, there is communication between the buyer, Title Agent, Buyer Agent and Homeowner Association President and/management company for new owner application, possible interview and estoppel information. Whether cash or financing, I recommend hiring a professional for a personal home inspection during your due diligence period so that you know the condition of the property and can negotiate any repairs if needed. In Florida, the services of a lawyer are not required for closing as in some other states; however, hiring a lawyer is always an option. If I can be of assistance during your visit in December, please let me know.
0 votes
Jody And Dan…, Agent, Saint Petersburg, FL
Tue Oct 30, 2012
I can be reached at 727-403-2200 to help you with your questions.

Jody Hale
Realtor
Keller Williams St. Pete
0 votes
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