Five Tips to Buying a Sarasota Home

Thinking about buying a home or condo in Sarasota

, Florida? What steps you take can really make the difference between an enjoyable transaction or one riddled with headaches and aggravation.

Buying a home should be a fabulous experience. However, if you have ever bought a home then you know that there is a chance that things can go wrong. You might have a bad Realtor, horrible home inspection, negotiation nightmares, aggravating move or any number of other things. Here are 5 tips to help you minimize the aggravation in finding a Sarasota home.

1) Get Mortgage Pre-Approval - No one involved with a Sarasota real estate transaction wants to go through the motions of buying a home without a successful closing. Some people hire a Realtor, drive around the town, make appointments to see homes, make offers on a home, hire inspectors and then find out that they cannot get a mortgage. Talk about a lot of wasted time and energy. That is one big headache for everyone. Before you do anything sit down with a lender and make sure that you can get a mortgage.

2) Hire a Good Realtor - Finding an experienced and professional Realtor can save you a bunch of time and aggravation. There is no need to go through the learning curve on your own. Hire someone that deals with real estate transactions on a daily basis. A good real estate agent will help you determine what you can afford, where to look and will hold your hand through the entire home purchase.

3) Be Realistic - I get contacted quite often by people who want to buy but really are not buyers. Essentially, they are looking to purchase a property at a deep discount. They want to find that $1,000,000 home for $600,000 or $700,000 so they can flip it for a big profit. If a Realtor can find homes that can be bought at 70% or less of true market value why wouldn't they buy the properties themselves and make a big profit? There are investors who scour the Sarasota, Florida real estate market every single day for such deals. They are not easy to find and are rarely listed with a real estate broker. Finding wonderful deals like that are a full time job. You can certainly do it but you will probably have to quit your day job in order to do it.

4) Establish a Budget - Don't bother looking at Sarasota homes for $500,000 if your budget is $300,000. On average, Sarasota sellers are taking 5% discounts from their list price. It used to be larger but the market is improving. As you go up in price the discount gets a little larger. We all want to buy a home at a deep discount but you will most likely have to buy around market value.

5) Learn the Market - After you have established your budget, found a good Realtor, been pre-approved for a mortgage you need to learn the market. Find out what is currently for sale and what has sold in the neighborhoods that suit your needs. Become an expert in the areas that you are considering buying in. When a fabulous home comes on the market you will have enough market knowledge to know that it is fabulous. An educated buyer makes a wise purchase.

Follow these 5 tips and you will eliminate some of the headaches that come with a Sarasota home purchase.

Five Tips to Buying a Sarasota Home

By: Marc Rasmussen

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