Our #1 Pro Miami Beach real estate tip is two-fold; if you need financing you need first to work with an experienced lender and second get a preapproval prior to looking at properties.
If you are thinking of making a real estate purchase in Miami or Miami Beach and need financing, it’s important to get this process nailed down asap. Financing is still tough in our area, so it’s key to work with a lender who is experienced in our area and knows the process.
Preapproval First Shop After Miami Beach Real Estate Tips
Key Pro Tips about financing and Miami Beach real estate.
- We are in the heavy cash market, therefore if you need financing do it first and work with a reputable lender who is experienced in our market.
- A strong preapproval letter makes your offer look solid.
- If a great deal comes around sellers will not often wait for you to get preapproved.
- Once your lender preapproves you, he should be able to give you a breakdown of your payment including taxes, insurance, condo fees and more. Everyone forgets these fees, but they can add a lot to your bottom line at the end of the day.
In the end, it’s crucial to work out that initial lending process so that you are ready to get down to business when we start looking at properties. There is nothing worse than spending time on a price point where you cannot qualify or don’t want to spend money on each month. Financing is not so exciting and does require a lot of paperwork but once you get that out of the way, we can move on to the fun stuff looking at properties.
Buying or selling real estate is a tedious and emotional process, allowing an experienced agent to take care of you can make all of the difference in the outcome.
