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Home Buying in South Florida : Real Estate Advice

  • All98
  • Local Info5
  • Home Buying56
  • Home Selling3
  • Market Conditions2

Activity 43
Capttomac, Home Buyer in Delray Beach, FL
Thu Aug 4, 2016
Capttomac asked:
My daughter was trying to buy in a townhouse community with a FHA mortgage The community was not fha approved so the offer was turned down How could she get the community or dwelling approved
0 votes 0 Answers Share Flag
Jacquie Yekm…, Real Estate Pro in West Palm Beach, FL
Sat Jun 4, 2016
Jacquie Yekmalian answered:
You have a few options.

1. You the buyer pay the difference at closing table
2. Ask the seller to lower the price to appraised value
3. Ask the seller to meet you in the middle of appraised value difference.
4. Cancel contract and start looking again

Good Luck

Jacqueline Yekmalian
Blue to Green Realty, from the sea to the 18th tee
Serving Florida Real Estate since 2000
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0 votes 8 answers Share Flag
Gary and Kar…, Real Estate Pro in Boca Raton, FL
Fri Jun 19, 2015
Gary and Karina Youngman answered:
More than likely - almost 100% sure the bank policy demands updated BPO after 90 days.

I have gone through 2 BPO's during the same 90 days -
Based upon the buyers appraisal - and the fight in which you put up.

I have fought this with multiple appraisals - fighting for the bank to use actual appraisals Vs BPO...

BPO - "Broker Price Opinion" to me does not have the validity of an appraisal.

This can be a fight - with persistence you can win.

Even if they close your (offer) file - reaching the right arm of the bank, it can typically be reopened quickly and easily. This is of course, all dependent upon any alternative offers the bank may be entertaining...

Hope this helps... I moved to South Florida from San Diego in 1989
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0 votes 10 answers Share Flag
Annette  Law…, Real Estate Pro in Palm Harbor, FL
Thu Apr 9, 2015
Annette Lawrence answered:
Kimberly, I can detect the frustration in your question.
Of course, you know you need to direct your question to your agent. Your agent knows exactly what is going on in the areas where you have made a purchase offer.

You may not be aware that an overwhelming amount of real estate if Florida is sold as CASH transactions. Competing with cash buyers does require a well thought out strategy.

Next you must evaluate your lender. Some have proven to be extremely problematic and will make your purchase offer less attractive and most likely will result in you receiving NO RESPONSE to your offer.

You should use the resources provided by your agent. You have a better chance of getting your offer in FIRST if you use ONLY the MLS and don't chase vapors on Trulia and Zillow.

Finally, if you are a serious buyer, willing to pay market value (not list price) ask to be enrolled in your agents FIRST LOOK option to give you access to the invisible real estate market. Be aware, if you are not serious about a purchase, you will not be allowed into this segment. This is not for bargain seekers.

Be aware, you may need to make adjustments to your search parameters or adjust your expectations. The Miami real estate market is highly competitive and EVERY selling is looking closely at the ASSURANCE OF CLOSING. Do what you must to provide the assurance you can.
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2 votes 1 answer Share Flag
Jeri Patrick, Real Estate Pro in Pooler, GA
Mon Mar 2, 2015
Jeri Patrick answered:
I would contact a local real estate agent down there to help with your home search. Best of luck
0 votes 10 answers Share Flag
Gary and Kar…, Real Estate Pro in Boca Raton, FL
Mon Feb 2, 2015
Gary and Karina Youngman answered:
Select carefully -

Do your homework -

There are many values available -

Caution - Do your homework!

25 year "full time" South Florida Resident...
I know the area - I understand the market...

Gary 561.306.7653
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0 votes 8 answers Share Flag
Gary Birtles, Other/Just Looking in Scottsdale, AZ
Mon Jan 26, 2015
Gary Birtles answered:
I think your contractor should be able to ease some of these concerns for you. If you are going with a local contractor, more often than not, they'll know what materials will work best in your environment. Just discuss your concerns and make sure you aren't leaving any bases uncovered. ... more
0 votes 12 answers Share Flag
John G. Ard,…, Real Estate Pro in Fort Lauderdale, FL
Mon Oct 13, 2014
John G. Ard, P.A. answered:
There are so many "micro-climates" in the South Florida Real Estate market. I think you may want to team up with an experienced Agent to discuss some relevant considerations for Investing in the market here. For ex: will you be looking for something that can be rented? (there can be some strong rental restrictions on condos).. are you thinking of buying cash or leveraging your $200,000... There are plenty of us that look forward to having great conversations with Buyers and Sellers who are really looking to have Real Estate success. ... more
0 votes 11 answers Share Flag
Scott Patter…, Real Estate Pro in Aventura, FL
Mon Jun 30, 2014
Scott Patterson answered:
Depending on the type of home you purchase and the location, rentals are in high demand currently, whether luxury or middle income properties. Feel free to search our inventory for properties. ... more
0 votes 6 answers Share Flag
Yanoska Diaz, Real Estate Pro in Miami, FL
Thu Oct 10, 2013
Yanoska Diaz answered:
Targeting a home that needs renovations it is probably more difficult to acquire than one that doesn't. Investors typically look for these properties hoping to grab a better deal, the end result is usually the same, the property ends up selling for its fair market value, surprising? South Florida's market its hotter than ever. ... more
0 votes 5 answers Share Flag
Ray Stevens, Real Estate Pro in Cape Coral, FL
Mon Sep 30, 2013
Ray Stevens answered:

As a Florida-based lender, I can tell you condos down here are very, very nice.

However, I can also share some nightmare stories with you about my borrowers getting tied up in a contract to buy the wrong condo.

There are definitely things you in your realtor can do to avoid the same complications.

I have 14 years experience in the mortgage industry and would happy to share what I know with you. Call me at the number below for a free, no obligation initial conversation.

Ray Stevens
Branch Manager
239 471 7971
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0 votes 8 answers Share Flag
Yanoska Diaz, Real Estate Pro in Miami, FL
Sun Sep 22, 2013
Yanoska Diaz answered:
You cannot, unless you are willing to pay much more than what the property is worth and subsequently cure the cost of the appraised value. South Florida is flooded with cash investors, the myth of the cash investor looking for a bargain is a thing of the past, in today's market cash investors are paying top dollar to acquire an asset. ... more
0 votes 17 answers Share Flag
MARCO HUAMAN, Real Estate Pro in Coral Gables, FL
Wed Aug 14, 2013
MARCO HUAMAN answered:
Have you already purchased a property? Or are you still waiting?
0 votes 4 answers Share Flag
Susan J Penn,…, Real Estate Pro in Weston, FL
Wed Jun 19, 2013
Susan J Penn, PA,SFR,CDPE answered:
Dear Laurence,

Homepath is a foreclosure site that is designed to provide homes for home owners first, investors second, whcih means usually there is a waiting period before an investor can purchase a homepath property. You may want to look into short sale properties instead, where a new home owner or investor is given the same opportunity and the same time frame.

Susan Penn, PA, SFR, CDPE
EWM Realtors® | A HomeServices of America Company | An Affiliate of Berkshire Hathaway
2000 Main Street, Suite 103 | Weston, FL 33326 l
T: 954.306.7337 | C: 954.557.5993 | F: 954.515.0200 | |
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0 votes 1 answer Share Flag
chrisfidelch…, Other/Just Looking in South Florida, FL
Thu Jun 6, 2013
chrisfidelchavez answered:
call my real estate agent, she is a dog owner and dog advocate and she knows many places in broward that allow dogs her email is
0 votes 3 answers Share Flag
Scott Miller, Real Estate Pro in Boca Raton, FL
Tue Jun 4, 2013
Scott Miller answered:

You are in the middle of a complicated transaction, but I think you know this already. Please contact me offline and my offiice and I can help you:

The Homeowner Assistance Division of Realty Associates possesses a valuable quality that other firms simply do not: YEARS OF EXPERIENCE!

The Homeowner Assistance Division is comprised of real estate attorneys, negotiators, intake specialists, and seasoned mortgage professionals, many of whom have been facilitating loan modifications and short sales for over 15 years- before "loan modification" and "short sale" became household terms!

When dealing with an asset as important as a home, and a matter as important as a credit score or deficiency judgement, it is essential to rely on an experienced team of professionals who will assist in creating a well-reasoned plan to addressing your distressed property.

Please contact Realty Associates today to schedule a free consultation to help outline your distressed property solutions.


Scott Miller
Realty Associates
561-716-4060 c.
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0 votes 3 answers Share Flag
Scott Miller, Real Estate Pro in Boca Raton, FL
Tue Jun 4, 2013
Scott Miller answered:
Hi X.

I was under the impression that CW started coming in after 2002....BUT, you should only find out for yourself by hiring a competent inspector experienced with CW to check the home in question.

If you personally want to poke around and look for telltale signs of CW, open the HVAC panel and look at the copper coils. Are the discolored and look black, chalky, no longer copper color? Is there a smell of rotten eggs in the home? Look for discolored plumbing, supply lines under sinks. If it's your home, you may have discolored jewelry, too.

China is notorious for exporting their poisonous products all over the world, from baby milk to food lead in children's toys.

If you need an excellent GC to remediate CW from your home or one you're buying, contact me for their name.


Scott Miller
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0 votes 4 answers Share Flag
Susan J Penn,…, Real Estate Pro in Weston, FL
Thu Apr 4, 2013
Susan J Penn, PA,SFR,CDPE answered:
Dear Jlabush,

You are considering purchasing a home. Are you working with a competent realtor? Did you hire an attorney?
A fence - requires a permit and the survey
Hurricane shutters requires a permit and coding to qualify for wind mitigation for insurance
roof - they added a new roof - they need a permit and need to show it was put on by a licensed roofer.
air conditioner?
water heater?

When you are checking the title on the property you are also checking to receive an estopple letter, a lien search and permit search. You have an inspection period so check for these items at this time. Otherwise, walk away

Susan Penn, PA, SFR
Esslinger-Wooten-Maxwell Inc
2000 Main Street
Weston, FL 33326
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0 votes 5 answers Share Flag
Ann Ryan, Real Estate Pro in Doral, FL
Sun May 13, 2012
Ann Ryan answered:
Mark, I am familiar with the NACA process, but am not currently NACA approved. Right now, my suggestion to you would be to see if you can qualify for a regular loan as well. The reason, quite simply, is that I'm seeing multiple offer situations as the rule rather than the exception, and I fear that a NACA loan will simply not get chosen in that scenario. (Hard enough to get a conventional loan chosen over a cash deal). ... more
0 votes 1 answer Share Flag
SouthFlorida,  in South Florida, FL
Wed Mar 14, 2012
SouthFlorida answered:
If you want a QUALIFIED opinion of Fair Market Value hire a local appraiser with over five years experience. Realtors do not know how to make adjustments for differences in gross living area, updating, site size, waterview versus a residential view and differences in design and age if applicable. I am not trying to bash Realtors as I am one myself, but I am a straight shooter and speak from experience and facts. Realtors in the State of Florida take a 63 hour class and about ten minutes of the class pertains to valuation techniques. You can save thousands of dollars by using a qualified professional, so form over a few hundred bucks and get it right before problems occur.

Best of luck.

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