If you are in the market to buy a Brickell condo, you are probably thinking of many different details that you need to attend to in advance to making an offer. Often a great deal will present itself within a moment’s notice and the competition is pretty high in the Brickell condo market. With that in mind here are my recommendations to make sure you are prepared and have completed your due diligence.
Brickell Condo Due Diligence Tips:
- Hire a local Realtor, one who specializes in working with buyers. There are a lot of nuances with buying in Miami and you need to be certain you are working with a competent agent. Stop calling the seller’s agents, they work for the seller, not you.
- If you need financing, speak to a competent lender/bank/ mortgage broker asap. If you need financing there are a few extra hurdles to jump through when purchasing a condo in Florida. So we need to be prepared in advance to looking at properties.
- If you are purchasing with cash, great, just make sure that you have funds transferred into a US account, or other steps necessary to have quick access for when you make an offer and need to transfer deposits, etc.
- If you are planning to rent out the property make sure you speak to an attorney. You may want to set up a small corporation for business purposes and it’s ideal to do this in advance to buying the property.
- Be sure that you drive through Brickell during the day and at night. Visit a few restaurants and get a feel for the scene.
- Once you are decided on the Brickell neighborhood, your next big decision is going to be what building you like the best. Each building has its own feel and culture. Honestly, your budget is probably going to do a lot of that determining (of course ).
- Next you should consider criteria: the placement of the unit “the line”, view, square footage, # of bedrooms and baths. Also if parking is important to you, make sure that a space is assigned/deeded to that unit.
- If you have a pet, make sure you let your agent know in advance. Not all buildings allow owners to have pets and there are always certain breed and weight restrictions.
- Ask your agent for a vendor list and get quotes for vendor services like inspections, insurance, etc. in advance. These are key services that you are going to need during your transaction process. We can of course recommend but it’s often better for you to choose who you like best.
- Go over the buying process with your Realtor so you know the process and what to expect next.
There are many more tips but these few should help you get into the swing of things. Buying a condo in Brickell should be a fun and exciting process, make sure you work with an experienced team one who can get the job done and prepare you in advance.
Your Brickell Condo Buyer Feedback?
Are you just getting into the Brickell Condo Market? If so, what are your impressions where the market is headed? Please leave a comment and know we never share, rent or sell your contact info with any third party. We promise!
Copyright © By Jamey Prezzi 2013 * All Rights Reserved* What’s the Best Due Diligence Before Making an Offer on a Brickell Condo?