It’s the beginning of the peak season for home sales in Naples (from January through April), and as you begin your search for your dream house, whether it’s a luxury home in Naples or a stunning property elsewhere in Southwest Florida, you’ve probably got lots of questions about the home-buying process, and how to get a residence you love for the best price possible.
Here, we’ve composed a list of some of the top real estate questions that many homebuyers have, and answers to each. Let’s discuss.
Thinking About Buying a Home in Naples? 3 of Your Real Estate Questions Answered
Take a look at the answers to these real estate questions, which are likely to be on your mind if you’re checking out homes for sale in Naples, or in other cities throughout the beautiful Southwest Florida region.
- What is a buyer’s market?
- How long does a seller have to respond to my offer?
- What is escrow?
Question #1. What is a buyer’s market?
Simply put: A buyer’s market favors homebuyers. It’s when the inventory of houses on the market is greater than the number of interested buyers. Typically in this type of market, home prices may lower in response to reduced demand from buyers. So oftentimes it’s an ideal time to buy.
Here in Naples, however, despite recent increases in home inventory, the median sale price for single-family homes and condominiums not only held steady over the past year (November 2021 to November 2022), but it rose by double-digit percentages over that time period, as indicated in our real estate market report for November 2022.
With many properties to choose from in a buyer’s market, you’re more likely to find a home you love and less likely to have to compete with other house huners for your dream property. (You may also have more leverage when you go to negotiate a deal with a seller, especially if their home has been listed for a while).
A skilled REALTOR® will explain the current housing market conditions to you, and help you negotiate the best deal possible for your dream home.
Question #2. How long does a seller have to respond to my offer?
A seller typically has about 72 hours to review your offer with their agent and decide whether they will accept it, reject it, or submit a counteroffer—although the time period can range from state to state. You and your agent may decide to include an adjusted deadline for the seller’s response in your buyer’s agreement.
Question #3. What is escrow?
During the sale of a home a buyer’s money is placed in escrow, which is when a neutral third party takes custody of the funds on behalf of the buyer and seller until the sale is transacted.
If contractual terms are not met by either the buyer or the seller, the third party who controls the escrow account will take action per the contract terms to determine what’s done with the funds.
Are You Buying or Selling a Home in Naples?
Selling your home is a big deal, so you need to work with a REALTOR® who can get it right. We know how to market your home to all the right buyers, regardless of its price point. We’ll help you sell your home quickly and at the best possible price!
If you’re looking for a home for sale in Naples, we’re here to help. We specialize in luxury real estate and can show you any listing. In the meantime, please feel free to explore what’s available now:…
- Pelican Bay homes for sale
- Homes for sale in 34102
- Homes for sale in gated communities in Naples
- Golf course homes for sale in Naples
- Aqualane Shores luxury homes for sale
- Old Naples homes for sale
- Homes for sale in Talis Park, Naples
- Park Shore (Naples) homes for sale
- Homes for sale in Moorings
- Condos for sale in Moorings
- Coquina Sands homes for sale
- Tiburon homes for sale
- Grey Oaks homes for sale
- Pine Ridge homes for sale
- Homes for sale in Pelican Marsh
You can also browse all Naples homes for sale.