Preguntas frecuentes

The first step is getting pre-approved for a mortgage with a lender. This shows you how much you can qualify to borrow and/or how much you feel comfortable paying as a monthly payment, as well as putting you in a stronger position once you find a property you like.

In our experience, and after our initial Buyer’s Consultation, our buyers find their perfect home by touring 5-10 properties — in many cases, it’s the first home they visit. If after touring ten properties we still haven’t found the right home for you, we may need to revisit our Buyer Consultation, since we may have missed some information or something may have changed that we’re not aware of.

Yes, it’s recommended. Pre-approval defines your real budget and shows sellers you’re a serious buyer, which matters especially in a competitive market, particularly in a multiple-offer scenario.

It depends on the loan type. There are conventional, FHA, VA, as well as other programs with different minimum down-payment percentages. Your lender can explain which option best fits your situation — some scenarios are even available with no down payment required.

It’s a professional evaluation of the property’s physical condition (roof, plumbing, electrical, structure, among others) before closing. It lets you identify issues and negotiate repairs or adjustments before finalizing.

Closing time varies based on the type of financing and the complexity of the transaction. Your agent and lender will give you an estimated timeline once you have a signed contract. In most cases, on a “cash” transaction where no loan is involved, we could close in as few as 10 days. For loan-related transactions, we can close in as fast as 20 days, with most transactions closing within 30-40 days.

I like to say there are 3-4 parts to a closing. First is wiring the necessary funds to the title company — this information will be provided by the title company and verified with your lender. We recommend wiring the funds the day before closing; title will hold the funds and only disburse them with your authorization, and wiring a day early helps avoid delays. Next, a final walkthrough of the property is scheduled to confirm it’s in the same condition as when your offer was accepted, and that any repairs or improvements agreed to during negotiations were completed. From there, it’s signing, closing, and funding — the disbursement of funds from title to the seller. Once title confirms the funds have been received by the seller, the transaction has officially closed and funded. Then it’s time to celebrate — you’ll receive your keys and can officially move in! Remember to set up your utilities ahead of time, and request at least two copies of your deed and Closing Disclosure (CD) from title so you can set up water service and get gate access (or a temporary card/code) if the property is in a gated community.

Closing costs can include appraisal, inspection, title insurance, lender fees and other administrative charges. Your lender will give you a detailed estimate (Loan Estimate) early in the process.

There are financing programs designed for different credit profiles. It’s best to speak with a lender to review your specific situation and the options available to you.

Pre-qualification is an initial estimate based on information you provide. Pre-approval involves a more formal review of your financial documents by the lender and carries more weight with sellers.

An IRS 1031 exchange is a tax-saving tool. It lets real estate investors sell a business or investment property and buy a new “like-kind” property with the proceeds, delaying capital gains tax. It’s named after Section 1031 of the Internal Revenue Code. In simple words, it’s a tax-deferred method — not a tax-forgiven one. There are certain rules and timelines that must be met, such as replacing the property with a “like-kind” property, a 45-day identification window, a 180-day purchase window, using a Qualified Intermediary, and reinvestment requirements, among others. It’s a great tool to defer taxes if your plan is to continue investing in real estate. For more information, see the IRS’s official page on like-kind exchanges.

You can definitely start your research! But do NOT — I repeat, do NOT — make any large purchases. And I mean any purchase above $100… LOL, yes! No purchases higher than $100 on your credit card. Your lender will review your credit 2-3 times before closing and giving final approval, and will often re-check it one more time the day of or right before closing to make sure nothing has changed. During the loan process, we highly advise against using your credit cards, shopping for a car, or even changing jobs, since any of these could result in your loan being denied.

Value is determined by comparing your property to recent sales of similar homes in your area — what’s known in the industry as “comparable sales” — in addition to current market conditions. A careful study of this information, the condition of the property, active listings, and comparable sales will determine how much you can sell your property for, which is why MIGUEL MARIA’s knowledge and previous appraiser experience comes in handy in these types of situations.

Time on market depends on factors like price, condition, location, and current supply and demand. It also depends on the type of property, price range, and other factors. Your agent will be able to assess this and present it to you based on current market data and recent trends specific to your property’s location, type, price range, and condition.

Not every repair pays off. It’s best to prioritize fixes that affect first impressions, such as painting, deep cleaning, decluttering, and small visible repairs. A quick visit to the house will allow your agent to advise you on where those marketing dollars are best spent and where you’ll see the highest return.

Ultimately, the listing price is determined by the seller. With that said, it’s important that the seller follow the recommendations of the agent, who is the industry expert. Data on recent comparable sales, pending transactions, current active inventory, as well as expired and canceled listings, will determine the best and most probable sale price for your property — which is why the agent’s knowledge and experience are so important when it comes to determining the price.

Typical costs include agent commission, title transfer taxes, lien search, title search, association estoppel fees, additional legal fees, and in some cases, concessions negotiated with the buyer. Your agent will provide a Net Sheet, which gives a close approximation of your walk-away cash. Keep in mind you may need to deduct your loan payoff if that information wasn’t provided to your agent.

Generally, it’s neither necessary nor recommended. Buyers tend to feel more comfortable exploring a property without the seller — or even the seller’s agent — present. Think about it: when a salesperson at a store asks, “Can I help you with anything?” your typical response is “No, I’m just looking”… it’s the same concept here. We follow up on every showing so we can give our sellers feedback at least once a week.

It’s a purchase offer that doesn’t depend on mortgage loan approval and generally doesn’t require, or isn’t subject to, an appraisal. This generally allows for a faster closing with fewer contingencies than a financed purchase.

It’s a good idea to start organizing and packing your non-essentials the moment you start thinking about putting your property up for sale. One of the first things MIGUEL MARIA will recommend on his first visit is to declutter — you can start boxing things and placing them in the garage when possible, after all, you’re moving! Then, as MIGUEL likes to put it, one of the biggest milestones in a real estate transaction is once the appraisal has been received and the buyer’s loan has been approved. To be clear, this isn’t the moment to research who, when, or how much the move will cost — this is the moment to finalize the details and set a date.

Legally, the closing date belongs to the buyer. Although not required, it’s standard practice for the buyer to do a “walkthrough” of the property to check its condition — typically done the same day as closing, right before heading to the title company. To avoid any delays, we highly suggest being out no later than the day before closing.

An IRS 1031 exchange is a tax-saving tool. It lets real estate investors sell a business or investment property and buy a new “like-kind” property with the proceeds, delaying capital gains tax. It’s named after Section 1031 of the Internal Revenue Code. In simple words, it’s a tax-deferred method — not a tax-forgiven one. There are certain rules and timelines that must be met, such as replacing the property with a “like-kind” property, a 45-day identification window, a 180-day purchase window, using a Qualified Intermediary, and reinvestment requirements, among others. It’s a great tool to defer taxes if your plan is to continue investing in real estate. For more information, see the IRS’s official page on like-kind exchanges.

The IRS worries that a foreign seller could take their sale proceeds and leave the country without paying capital gains tax. So instead of trusting the seller to pay later, the title company will typically withhold 15% of the sale price. There are certain exceptions and other details to consider. For more information, see the IRS’s official FIRPTA page.

Yes, absolutely. We’ve helped hundreds of buyers acquire properties out of state and out of the country without ever setting foot on the property, in the neighborhood, or even in the US. You don’t even need a US visa to invest and take advantage of the opportunities South Florida real estate has to offer. Nowadays, there are a lot of tools at our disposal to make the transaction smooth and convenient — video conferencing, Zoom, FaceTime, WhatsApp video, and e-signatures. With one of the most recent changes in Florida’s real estate industry, the implementation of RON (Remote Online Notarization), everything from viewing to closing can now be done 100% remotely and electronically. With that said, it’s important to mention that if you’re a foreign investor, you’ll very likely be subject to FIRPTA when you decide to sell.

Yes, we can coordinate video call walkthroughs, Zoom calls, WhatsApp video, FaceTime, and detailed photos and videos of the properties you’re interested in, before you even arrive in the area. We strive to provide options for our clients and make their lives easier.

Important things to research include neighborhoods that fit your lifestyle, commute times, schools, local property taxes, and insurance, including hurricane coverage. After all, it’s Florida, so you’ll need hurricane protection, and depending on the location and elevation, you may also need flood insurance.

Your lender may require additional documentation related to your new job or income, especially if you’re relocating for work. It’s a good idea to talk to a lender early in the process.

Not always. Depending on the transaction, there are options for remote signing — commonly known as RON (Remote Online Notarization) — or signing by power of attorney. However, this is something that must be discussed from the beginning, since the title company, and especially the lender, will have to approve this type of closing.

Requirements vary from case to case, depending on your current status and the type of loan you’re applying for, if any. It’s important to consult a specialized lender to find out the specific documentation required for your case.

The best approach is to start your search online. Ask yourself the following questions: What are your hobbies? What type of places, shopping, restaurants, or activities do you typically enjoy? How long do you want your commute to work to be? What price range do you feel comfortable with? Then your agent will be able to narrow down and refine the search based on those criteria and what really matters to you and your family.

The IRS worries that a foreign seller could take their sale proceeds and leave the country without paying capital gains tax. So instead of trusting the seller to pay later, the title company will typically withhold 15% of the sale price. There are certain exceptions and other details to consider. For more information, see the IRS’s official FIRPTA page.