Tips and Advice for Florida Real estate for Canadians

For Florida real estate for Canadians, time is of the essence in order to get the best of the available deals out there. Economic indicators indicate that on a national level, home prices are near bottoming out levels and we can now expect to see a surge of new real estate investments, especially in the hardest hit states. Here are some of the things that Canadians investing in US real estate in Florida should avoid.

The Lowball Offer

During the housing bust, this was the usual practice, but in today’s market where we see that there is light at the end of the tunnel, lowball offers should now be the thing to avoid.

According to one prominent Florida real estate agent, buyers and sellers have different opinions about what lowball offer means. For sellers, they think that they have received a lowball offer on proposals to buy which are lower than ninety percent of their asking price. However, some buyers believe that eighty to eighty five percent of their price is acceptable.

Taking Too Long to Decide

While it is true that in real estate patience is a must, taking too much time to decide on an offer can be detrimental to your potential profits. For instance, in Broward County there are about 5,400 homes available which is half of the amount available from last year. In Palm Beach, there are over 7,800 properties that are on the market.

It is a fact that home inventories will likely go higher as more foreclosed properties will hit the market down the road. That is why it is imperative that if you get a fair offer now, don’t squander it by thinking that down the road is another better offer waiting. If you see a property that is reasonably priced, by all means get it because chances are you might end up buying a property that you don’t really want because you passed up on a good offer.

Too Many Contingencies in the Contract

Don’t alienate potential buyers by putting too many stipulations on an otherwise standard real estate contract. The only real requirement you should have is that the buyer must be qualified for a mortgage. There were reports that some insist on unusually long periods of inspection while others want the sale only on the condition that a member of the family must be able to peruse the property. It is simply counterproductive and ridiculous.

Not Being Able to Establish Rapport with a Seller

For Florida real estate for Canadians, it should be noted that money is not the only issue when sellers are choosing who to sell their property. One example is a seller that faced two offers for a $500,000 property located on beautiful Fort Lauderdale real estate. The buyer that offered to pay cash and gave the seller the option to bring with him some appliances from the property was the one chosen.

It won’t be surprising that you would have to face people that may compete with your bids on a property. It is wise to establish the human factor and make a good impression on the seller by engaging in a good conversation.

More information is available for Florida real estate for Canadians on this link: www.stevemartel.com