Scott's Advice to South Florida Home Buyers
With more than two decades in the real estate industry, Scott Patterson has curated a library of home buying information to help his clients make the best decisions. Browse commonly asked home buying questions below, which cover topics specific to the South Florida region or to the real estate transaction in general.
Have a question that you don't see on this list? Contact Scott Patterson for personal advice tailored to your unique home buying needs.
Scott's Advice to South Florida Home Buyers
I recently accepted a position in the entertainment industry which requires I relocate to the South Florida area. Moving from New York City, I’m apprehensive about hurricanes. What reassurances can you give me to alleviate my concerns about the weather in South Florida?
A. Fears of hurricanes are understandable, especially for those relocating from regions that see very few of these storms. Rest assured that our government takes every precaution to protect residents and their homes during hurricanes.
Our infrastructure, buildings, and homes are designed to withstand storms. In addition, innovations in building materials and construction techniques often lead to changes in building codes, which make homes even safer.
Given that devastating hurricanes do not frequently hit our market — which includes the communities of Aventura, Bal Harbour, Dania Beach, Golden Beach, Hallandale Beach, Hollywood, North Miami, North Miami Beach, and Sunny Isles Beach — homeowners do not have to fret about the forecast. In the event of a hurricane, residents often have more than five days to prepare, unlike during earthquakes, mudslides, fires, and other natural disasters that are common in other parts of the United States.
If you are relocating to South Florida and want to know more about the South Florida climate and local emergency preparedness, call Scott at 954.661.8871.
I am new to the South Florida area. What resources are available for service providers such as landscape architects, maintenance providers, contractors, interior design and etc. for my new South Florida home?
A. Having worked with buyers and sellers for over two decades, Scott has built a comprehensive list of South Florida service providers that you can use to connect with trusted local professionals.
In addition to landscape architects, contractors, interior designers, and utility providers, this business directory also includes recommendations for local restaurants, health clubs, travel and entertainment, and more. Call Scott at 954.661.8871 for even more recommended service providers and area attractions.
FAQs About Purchasing Real Estate in South Florida
I am interested in a property I found online. When I called the listing agent, she disclosed that the seller was only accepting "cash offers." What does this mean? I do not think many buyers carry cash around to a closing.
A. A "cash offer" in the state of Florida does not mean a buyer must bring actual cash to a closing. It simply means that the buyer's offer must not be contingent on obtaining financing, like a mortgage.
The reason many home sellers do not want to accept offers with a financing contingency is because they are not guaranteed a sale, since the buyer might not be able to secure a loan. Once a seller accepts an offer with a financing contingency, the property will no longer be available to other potential buyers — it will be "under contract" for the time being.
A loan also comes with what banks call "conditions," which outline reasons why the bank can revoke the financing from the buyer, therefore allowing the buyer to cancel the contract. These conditions in the state of Florida allow the buyer to cancel the contract and receive their full escrow deposit back. If this happens, it leaves the seller at risk; the seller might have moved out of their home, potentially purchased or rented another home, and then learned that the buyer was not able to secure financing/mortgage, leaving the seller will no recourse.
Cash transactions are very common in higher-priced homes and condos that are selling for $800k and higher. If you would like to know more about making an offer on a property, call Scott at 954.661.8871.
Contact Scott for Additional Resources
Whether you're researching a South Florida home purchase or you're ready to find your perfect property, Scott can provide you with home buying advice tailored to your unique needs. Contact Scott today for answers to your home buying questions.