Sellers Have Advantage in South Florida Home Market

by Isaac Benmergui, Esq on December 19, 2012

Red$graph_cropWith the low prices on available single-family homes and condos, sellers have the advantage in the South Florida home market. Recently, a two-bedroom Coral Springs condo was listed at $53,000; within days the sellers had 54 offers and settled on a $71,000 cash bid. The realtor had never seen so much interest in a property in her 33-year career.

Such is the South Florida home market these days. The available and desirable properties are few in number, and buyers don’t mind haggling, which ends up benefiting the seller.  “They have a choice, rather than taking any deal that comes across the table,” said Dean Sklar of Coldwell Banker in Weston.

Because of the stiff competition for homes, the buying game has changed somewhat. Where realtors advised buyers that pre-approval for a loan was a good idea, now it’s nearly a requirement before beginning a property search. Even then, a cash buyer can swoop in and win the bidding war because the deal will close faster. 

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.comfor more information or to set up an appointment today.

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