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Buying Homes in Punta Gorda, FL

Buying Homes in Punta Gorda, FL

Punta Gorda real estate
Beautiful Charlotte Harbor

Today, many people begin their search for a home on the Internet. It is a great way to gain an understanding of the market. One can see pictures of homes and read descriptions that include pricing and home features. By doing so, one can compare homes and be prepared for the type and size of home they can afford. A great place to start such a search is on this very website at Search the Southwest, Florida MLS.

Our website combines MLS systems from several Boards of Realtors in southwest Florida so you can see ALL the listings. With our search capabilities, you will find a home in Punta Gorda Isles, Florida, whether it is listed in the Punta Gorda MLS, Englewood MLS or the Port Charlotte MLS. Search through the features, narrow down the list to the homes that suit you best and request more info with our easy to use form!

Once you have decided that Punta Gorda is the place for you, let your Suncoasteam do the work. We will consult with you to determine the number of bedrooms you prefer, whether or not you want a swimming pool or if your home should be on waterfront. We will help you determine whether a home is worth the asking price by comparing it to other similar homes currently on the market and to recently recorded sales. Your Suncoasteam will work closely with you to negotiate the best terms possible and help you get the best price.

There are many variables to consider when you negotiate a home purchase. Of course, price is a major concern, but a great price may not look so good if the buyer or seller inserts too many restrictive clauses. Our job will be to get you the best deal. Items to consider are:

1. CASH or FINANCING – A cash sale is preferable to all parties. It is a clear statement of the buyer’s ability to pay. A financing clause may make a seller somewhat less flexible in his sale price. With a financing clause, many things can happen that could delay or cancel a sales contract. To avoid most problems, a buyer should consult with a lender in advance and be armed with a “Pre-approval Letter”. This letter will state that the buyer has sufficiently good credit to purchase a property up to a certain price. There still remain several conditions to the financing clause to be met. The buyer must show down payment funds. The property must meet the bank’s appraisal standards. Other terms may apply. All this must be completed within a predetermined time period.

2. Closing Date – A closing date is often a determining factor in whether an offer is accepted. If a buyer asks for a closing too far in the future, the seller may decline the offer. If the buyer wants to close too fast, the seller may not be ready to move. Flexibility is recommended if possible.

3. Closing Procedures – Costs involved in closing a real estate sale are among the terms negotiated by the parties. The cost of a title insurance policy is approximately $6.00 per $1,000 of purchase price. In addition, associated costs for title search, document examination, etc. can add $300 – $500 to the final cost.

The party who pays for the title insurance policy is most often the party to choose the Title Insurance Company. While the choice of title company can be a matter of convenience to one party (is their office nearby?), it is most often a matter of confidence. If your broker has a relationship with a title company it can help to make a closing go smoothly.

Additional costs are attorney fees, documentation stamps, pro-rations such as taxes, fees and dues.

4. Escrow Agent – As required by Florida law, your deposit funds must be deposited into an escrow bank account. This is usually a non-interest bearing account that remains idle until closing. Some real estate brokers maintain their own escrow accounts. At Suncoasteam we feel that can lead to conflicts. We do not hold your funds. With your permission, we entrust the escrow funds to the escrow account of the chosen title company or attorney that will close the sale.

5. Property Disclosures – A Seller’s Real Property Disclosure Statement is generally completed by anyone selling a home. In some circumstances, such as an heir disposing of inherited property, a disclosure is unavailable or incomplete. When available, the disclosure will list the seller’s knowledge of claims and assessments, deed or homeowner association restrictions, knowledge of surveys, sinkholes or land settling, environmental problems, zoning infractions, flood zone, termites or mold, structural damage, roof problems, plumbing or electrical problems, the condition of major appliances, heating and a/c or any other problem of which they are aware that could affect the value of the property.

6. Inspections – It is highly recommended that inspections be conducted to uncover any defects in the property. Often, sellers are not aware of defects in their home and do not report them in the property disclosure. It is not a matter of deceit. Many times a seller is unaware of a termite infestation, an a/c unit that is not putting out enough cool air or an electric outlet with a poor ground. Inspections are relatively inexpensive and can save a buyer money and worry in the future.

7. Associations: Homeowner or Condo – Seller’s are required to inform a buyer of any association that governs deed restrictions and / or collects a required fee of property owners. The buyer has the right to examine any and all documents that relate to the association and ownership of the property. The buyer has 3 days from receipt of the documents to withdraw from the contract if they object to any part of the document.

8. Insurance – Often a buyer will place a clause in a purchase contract stating that homeowner insurance can be purchased at no more than a set premium.

9. Lead Paint – If a home was built prior to 1978 it is possible that lead based paint was once used in the home. The seller must disclose this fact and allow the buyer to withdraw from the contract if they object.

10. Rentals – Some associations, especially condominium, restrict rentals. If so, this must be disclosed buy the seller.

11. Rezoning – Occasionally, a buyer will ask for a zoning change clause that will allow them to petition for the change prior to sale.

12. Foreign Seller – If the seller is a citizen of a foreign country, there may be tax withholding required prior to the distribution of their funds.

13. Additional Terms – Many times, additional terms are added to a purchase offer. There are as many reasons for additional terms as there are buyers. Unless absolutely necessary, additional terms should be limited… keep it simple. Additional terms in a purchase offer can make a seller feel that they are “giving up” too much… even if they are not.

The one best move you can make is to employ a broker who will work in your behalf. When you retain your Suncoasteam you will be assured to have brokers who are on your side. Also, we are independent brokers so we do not charge additional fees such as franchise fees, transaction fees or any other fee. You will NEVER be surprised to find additional fees heaped onto your contract.

If your needs include a condo in Punta Gorda Isles, FL with a dock for your boat or a modest home in historic Punta Gorda near down town, you will be pleased with the work and dedication your Suncoasteam provides. Call or email for more information. And don’t forget that you can start your search right here at Punta Gorda, Florida MLS listings.

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Suncoasteam Realty, LLC
Main Office: 21202 Olean Blvd Unit C-3, Port Charlotte, FL 33952
Mailing Address: PO Box 380503, Port Charlotte, FL 33938
Phone: 941-235-7474
Email: sales@suncoasteam.com