Real Estate 106 – Contract Period (Florida Version)

By now, you're probably tired!

We never said making your biggest purchase (probably anyway) in your life was going to be simple! Good things come to those that wait. There are still a few things you need to keep track of now that you're officially under contract.

What could possibly be left??

From an agent's side of things, our jobs APPEAR to be somewhat done from the buyer's perspective. Just know that it is not. The majority of items remaining will be inspections, appraisals, repairs, title work, insurance, and more. You probably won't hear from your agent every single day, and that is okay! Don’t stress. A lot of things have to happen during this “waiting” period on multiple ends of the spectrum.

Your agent is likely having conversations in the background with your lender, the seller’s agent, the title company, inspectors, insurance reps, and vendors you’ve never even met. We’re working hard to keep things smooth and prevent problems before you even know they exist. Just know that if you're not communicating every single day, it is perfectly normal.

You do, however, need to be in close contact with your lender and insurance provider. Your lender and agent cannot share certain info with each other due to the law, so don’t assume one knows what the other does. Keep them both in the loop when something important happens!

And remember: your agent will always be willing to answer questions. Ask away rather than guessing incorrectly — that's what we're here for!

  • If you’re buying in a neighborhood, ask your agent for HOA documents and deed restrictions. These can impact your ability to park trailers, build fences, rent short-term, etc.

  • Florida buyers will typically close through a title company, not an attorney. That company will coordinate your title search, issue title insurance, and hold escrow funds. Be sure to watch for emails and requests from their team!

  • Now’s the time to shop for homeowners insurance — not the week before closing. Florida insurance providers often require 4-point inspections or wind mitigation reports, especially on older homes. They may also decline to insure certain roofs or electrical panels — so be proactive!

  • Ask your agent to help determine which utility providers service the area (water, sewer/septic, trash, electric, gas, etc.). Some require proof of ownership like a signed closing disclosure before they’ll set up service in your name.

  • If the property has a termite bond or transferable home warranty, ask the seller’s agent to send over documentation so you can take over or extend it post-closing.

  • Florida offers a valuable Homestead Exemption for primary residences. This can reduce your annual property taxes significantly, but you must apply with the county after closing. Ask your agent how to file before the next March 1 deadline.

  • If you’re transferring kids to new schools, start the enrollment paperwork now. School zones and start dates vary by county.

  • If you won’t be present at closing, tell your agent and lender ASAP. They can arrange for a mail-away closing or set up a power of attorney if needed — but these things take time.

  • Ask your agent about MoveEasy or similar moving concierge services that help with utilities, internet, forwarding mail, and coordinating your relocation details.

The awesome news is, you should be ready for closing now! Head over to Real Estate 107 – Closing.