Today I'm going to explain how the process of buying an investment in Florida works.

Once you've found the house of your dreams and you've agreed on a deal, it's time to start the whole purchase process, right up to the deed.

How does a real estate purchase contract work in Florida?

I will summarize the main points of this contract here.

• What is the value of the offer?
• What is the initial good faith deposit (and I will explain shortly what this good faith deposit means);
• Appliances included in the purchase;
• Whether the purchase is financed or in cash;
• When the selling owner has to accept the offer;
• When the buyer wants to deed the house;
• Number of days required for the buyer to inspect the house.

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The complete process of buying real estate in the United States

When the offer is accepted and the contract signed by the sellers is returned, the days and terms of the contract begin to run.

In other words, generally, once the offer has been accepted, the buyer has 3 days to deposit the bona fide deposit in the title company's account.

This bona fide down payment is an initial deposit that shows your real interest in the house. There is no standard percentage.

It's very much up to the client's wishes and the value of the property.

As soon as the offer is accepted, the buyer has the days stipulated in the contract to have the house inspect ed by a licensed inspector to see in detail the real condition of the house.

The buyer is responsible for paying for this inspection.

Once the buyer has received the inspection report, it is up to the buyer to decide whether or not to continue with the transaction.

Then you can negotiate with the seller for a discount on the house, so that he..:

• Fix the things that showed up in the inspection;
• Help with closing costs.

However, the seller has no responsibility or obligation to do this.

It is then up to the buyer to decide whether or not they want to continue with the transaction.

If the buyer decides to continue with the purchase, the process runs as normal.

But if the buyer decides to withdraw, the amount deposited in good faith reverts to the buyer in full.

It is very important to mention that, in this contract as is, you (the buyer) have the possibility of canceling the contract without any justification.

It could be because of the inspection, or it could be because you simply don't want to keep the house anymore.

However, this can only happen in the time allowed by the contract during the inspection of the property.

So the whole process has to be in line with the deadlines.

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And that's my job - to guarantee the security of deadlines and carry out the entire process so that you have a smooth and secure transaction.

You can also cancel after the inspection condition has expired.

But you will lose the deposit in good faith.

If you're buying the property outright, as soon as the purchase and sale agreement is signed, the notary's office, which is usually chosen by the seller, begins to take all the property's negative certificates so that everything is ready for signature on the day the agreement is negotiated.

However, if the buyer is financing together with the notary's process that is making all the negative certificates, the bank's analysis and the financing process begins so that everything is right on the day stipulated in the contract for the financing to be approved and ready.

For the buyer who buys financed, there is one more action that takes place in this process. 

The bank that is approving the loan sends an appraiser to the property.

This appraiser, or as we call him here, will assess the condition and value of the property to see if the value negotiated in the contract is the real value of the property. 

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What are the stages in the process of buying property in the United States?

Now, I'm going to summarize the process of buying a property in the United States for you.

1. Negotiated value
2. Contract accepted
3. Good faith deposit
4. Inspection
5. Financing (if financed)
6. Registry Office
7. Evaluation
8. Closing

I hope you can visualize the stages of buying a property here in the United States.

Of course, in a very simple way, but it's important to pay attention to all these steps.

Along the way, there are other negotiations that we, as professionals, will follow from start to finish. 

For security when buying or selling a property in the United States, our team of consultants Selecta is ready to support you throughout the process. You can contact us via this link.

I invite you to watch my video "PROCESS OF BUYING REAL ESTATE IN FLORIDA - complete step by step".