Most people would probably say that they attempt to save money whenever possible. For some homeowners in South Florida, that means that they will attempt to circumvent the realtor process when they are trying to sell their homes, instead opting to pursue the "for sale by owner" route. But, that process can be tricky as well, and there are more than a few steps to follow. In Part 1 of this multi-part series, we will take a look at some of the first steps that South Florida homeowners should probably take when they are beginning the "for sale by owner" process.
Many of our South Florida readers know from personal experience that real estate transactions often involve a multitude of documents. And, most people accept that this is just part of the process. But there are certain aspects of these documents that are much more important than some of the "boilerplate" legal language. For instance, what are "terms of sale"?
It's no secret that Florida was one of the states that was hit the hardest by the "burst" of the housing bubble several years ago. Like the rest of the country, it has been a long slog to recover value for homeowners throughout the state. And, for many, paying the monthly mortgage payment is still a serious concern. Foreclosures remain an issue in Florida.
Most people in South Florida probably know the basics about purchasing real estate. It goes something like this: a buyer finds a piece of property that is for sale, the buyer and seller negotiate the terms of the sale, money is exchanged and title of the property is transferred. It seems pretty simple, right? There's just one problem: the terms in the contract that is negotiated between the parties can come back to haunt one side or the other if they don't get it right before the contract is signed.