The Naples Home Buying Process

BUYERS

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CHOOSE YOUR PATH!

WITH A REALTOR

1 - Do Your Homework!

If you skipped Step 1 of our Naples Buyers Guide, go back and read that first! It has TONS of information that you'll want to know about to get started on your Naples home buying journey.

We covered pre-approvals, list making, location assesments, time management, motivation and more!

2 - Sit back and Relax!

This is one of those steps where having a Naples based Realtor in your corner really plays to your advantage! We'll take all of your input gleaned from doing your homework and put it into a thorough search - tailored just to fit you!

You'll be saving time AND getting the maximum amount of ideal properties delivered right to you. 

 

3 - Showing Tour

A lot of work has been done behind the scenes here and your agent will now have some properties curated for you. It's time to go on a showing tour with your agent to see the selected properties matching your criteria!

4 - Take Notes

There is a lot going on with each property, it's a great idea to take notes while on your showing. Jot down your impressions and feelings, and any questions you have along the way so you don't forget. And ask your agent for a CMA (comparable market analysis), which will give you important information about the location, school district, etc. Get as much information as you can to make the right decision! 

 

5 - Make an Offer

Discuss with your Real Estate Agent a strategy and game plan. You'll want to agree on an offering price as well as the maximum you're willing to pay in the event of a bidding war.

Your agent will prepare the best sales contract for your situation and send it to you to sign, most likely electronic signing (e-sign). Once the contract is signed your agent will handle sending it to the sellers agent. If the seller agress without any counter offer - you have a binding contract. If not, the agent will start the negotiation with the sellers agent to get to reach an amicable deal.

6 - Here we go!!

Now that we have a binding contract, it's time for more work! Your agent will suggest closing/title companies based off past experiences. Your agent will keep control of dates and deadlines to make sure the deal doesn't go off track. The agent will organize the inspection, the back and forth with the title company and check for permits and so on. They will send you some important documents, most likely before you sign the offer, regarding rules (if you buy in a HOA community), sellers disclosure and all the paperwork you should read before you can not back out of the contract.

 

7 - Closing

Your agent will also get the closing settlement and thoroughly check it. They'll also stick to the deadlines and ensure you send money when the time is right. Your agent will have a lot of questions that need answers from the person responsible for this and they'll make sure everything goes smoth. Once all is said and done, they'll make arrangements on how you will get your keys!

8 - Congratulations!!!

Closing is complete and now it's up to you to organize the move, perform any repairs or renovations you wish to be completed, search for the right insurance, etc. If you happen to need a handyman or property manager to take care of the property when you're not in town or a rental company who manages tenant needs and cleaning, etc., ask your agent! They normally have a network of professional service providers that they've had success with in the past and are happy to recommend.

 

9 - ENJOY YOUR NEW HOME!

WITHOUT A REALTOR

1 - Do Your Homework!

If you skipped Step 1 of our Naples Buyers Guide, go back and read that first! It has TONS of information that you'll want to know about to get started on your Naples home buying journey.

We covered pre-approvals, list making, location assesments, time management, motivation and more!

2 - Start Searching

The time has come to put in work. This is one of those big drawbacks of not using a local realtor. Refer back to your homework and the lists you made to begin filtering the property search results that you have available to you publically.

Keep in mind, you may be missing BIG opportunites here - this is one of those steps where Realtors really earn their keep. 

 

3 - Open Houses

It's time to go shopping for open houses or FSBO homes you can get into. Remember, you may be looking at a lot of properties that don't meet your criteria. This can be a big drain on time and energy and it's at this stage that most without an agent begin to consider sourcing one.

4 - Take Notes

There is a lot going on with each property, it's a great idea to take notes while on your showing. Jot down your impressions and feelings, and any questions you have along the way so you don't forget. If you're at an open house, the sellers agent can be a big source of information about the property and area. They'll also likely encourage you to work with them - but you don't have to. Before you commit, check out our guide about How to Choose the Right Real Estate Agent.

 

5 - Make an Offer

 

Be sure you have enough information about the property to be sure the price is right! Use our Naples property Search page to guide you here.

Also, make sure you are using the right contract for your situation. For example, you can choose and "As-Is" contrract or a contract with a "Contingency" when you would like to make an initial deposit (normally within the first 3 days after the contract) and your second deposit (normally ~15 days after the inspection). Finally, there is a  closing date and payment to be arranged.

Its worth it to hire an attorney to prepare this contract for you. You'll need to sign the contract and send this to the sellers agent or the owner of the property. If the seller will sign without any counter offer, the contract is closed and you have a valid contract. If not it is up to you to negotiate and get the best deal for you. But beware you might have to negotiate with the sellers Agent – most likely they has more training in negotiation then you will have because it is their daily job to negotiate real estate! 

6 - Here you go!!

You have a valid, binding contract – now you need to organize the home inspections, find a closing company/title company (in Collier County the Buyer chooses the closing company, in Lee County it's the Seller), make sure your payments are done without delay, inform your bank or mortgage company, find out about open permits and possible assessments that need to be payed in the next months, get all the information about HOA – Rules and Regulations and so on. Don't forget to get the documents to apply in a community if needed. Make sure you have all the necessary information to not buy a pig in a poke! This is the time window where you can back out of the contract under certain circumstances, such as inspection or appraisal issues.

 

7 - Closing

Make sure the money is ready and on time in the escrow account of the closing company. You will get a closing settlement before the closing will take place to control all the numbers. Please check the deposits if they are included.

8 - Congratulations!!!

Now it is up to you to organize the move, the repairs or renovation that need to be done, search for the right insurance, etc. Do you need a property management company to manage your property when you are not in town or a rental company who takes care of the tenants, the cleaning etc.

 

9 - ENJOY YOUR NEW HOME!