Just about every transfer of commercial property and residential property culminates in one event: the real estate closing. In most commercial real estate transactions a great deal of work has already been completed prior to the closing, so there often is much less stress on the individuals who come to the meeting. However, for those South Florida residents who are purchasing residential real estate, getting to the real estate closing can be both exciting and nerve-wracking.
Many South Florida residents wade into the residential real estate market very carefully, ever mindful of the wide variety of complications that could pop up, from title issues, lack of disclosure and negotiating contract terms. But, one thing is clear: these issues are not stopping buyers from doing their best with what is available in the local real estate market.
Take the good with the bad, weigh the pros and cons - most of our South Florida readers have heard these clichés before. However, when it comes to deciding on when - or if - the timing is right to jump into the steadily improving residential real estate market, these clichés could do both buyers and sellers some good.
Most of our previous posts for some time now have focused on all of the good news associated with the South Florida real estate market. Home values have been rising consistently, residential development is firmly underway and residential property in the area seems like it has never been hotter. However, many of our previous posts have also commented on the possibility of the housing recovery picking up too much steam, leading to more problems in the future - possibly the near-future. A recent article in the Sun Sentinel sounded those same alarm bells.