Real Estate 102 – Highlights of the Process (Florida Version)
Thinking of buying but it's your first time? Maybe it isn't your first time, but it's been years since you purchased? Or maybe you just need a refresher on where to start? That is why we are here!
Real Estate 102 is all about how to get this process started. If you haven't familiarized yourself with the definitions in Real Estate 101 yet, please be sure to do so! Just like a house, a solid foundation in knowledge is the key to everything!
While we cannot put every single detail in this short course, be sure to ask us along the way if you have specific questions we haven't answered yet. There are no stupid questions.
And just to reiterate – GET PREQUALIFIED/PREAPPROVED BEFORE ASKING TO TOUR HOMES!
Step 1: Decide which direction you would like to go.
Spec house already built by a builder? Land for your own custom home? Waterfront getaway? Already existing home? Investment property? Florida has it all. Picking the right path is going to be your first goal.
Step 2: Determine how you will be paying.
Not all of us are able to make large cash purchases. If you are using cash, skip to step 4. Many prospective buyers are using various forms of financing. The traditional way is through a mortgage lender or broker.
While all lenders vary in the programs and terms they offer, most of them offer the basic VA, USDA, FHA, and Conventional loan programs. We’ll dig into those soon, but a good lender is key to your journey.
Keep in mind: not all lenders are built the same. Some have overlays — extra internal rules on top of what’s already required by the loan program. Interest rates and closing timelines can also vary widely.
Step 3: If you're going to be obtaining a mortgage, get prequalified or preapproved.
You will read this many times throughout, but it is SO important for you to be prepared with a prequalification/preapproval letter in hand BEFORE touring homes or writing offers.
A prequalification from a lender is a quick estimate based on basic info. A true preapproval goes deeper: pulling credit, verifying income and documents, and actually reviewing your file. A preapproval carries more weight and makes your offer stronger — especially in Florida’s competitive markets.
Getting prequalified is better than not having a letter at all — but a preapproval is definitely the stronger play.
Step 4: Once you're ready, find a real estate agent and stick with them!
Knowledge is power, and a real estate agent that is knowledgeable can make this process much smoother for you than you even realize. Real estate agents are doing a lot of behind-the-scenes work that you never even see.
Agents invest time, gas, and effort into every client — without getting paid unless a closing occurs. They rely heavily on your loyalty and referrals to sustain their business and families. It’s more than just showing houses.
Step 5: Make sure your agent knows your needs.
Agents may know of homes not even listed yet! They monitor market activity and talk to other agents daily. Keep in close communication and let them know your must-haves vs nice-to-haves.
Step 6: Take notes when touring homes and don't overwhelm yourself.
After 5+ houses in one day, they start to blend together! Try to limit how many you see per trip, and jot down quick pros/cons in your phone or notebook so you remember what stood out in each one.
Step 7: Make an offer.
This is where it gets serious. You’ll want to consider price, closing costs, concessions, contingencies, and repair requests. Talk everything through with your agent — full honesty helps them help you!
Step 8: Stay on top of everything once under contract.
Your lender may request a lot from you — sometimes multiple times. That’s normal. Be prompt and honest. The faster you submit, the quicker underwriting can clear conditions and keep things on track.
Step 9: Get ready for closing.
With inspections, appraisals, and conditions cleared, it’s time to wrap up! Don't forget to handle things like utilities, movers, address changes, and school transfers if applicable.
Step 10: Happy closing day!
Bring your ID, be prepared to sign a stack of papers, and celebrate! If funds are needed, you’ll need to wire them or bring a certified check. Florida title companies and attorneys handle closings, so always ask for verified wiring instructions — and double check to avoid fraud. Never wire money based on email alone.
Step 11: Enjoy home ownership!
You did it! If your agent was awesome, let the world know with an online review or personal referral. Enjoy your new place — and we hope to help you again in the future!
You're now ready to move on to Real Estate 103. Continue on if you're ready to keep learning, or keep an eye out for our next email!