I am purchasing a house in Florida i am from England but the price deals keep changing has anyone done this?

Answer 1

I recommend that you hire a real estate appraiser who is a Member of The Appraisal Institute and that you hire an attorney who specializes in real estate las.

Ask your attroney to write your offer and include language that makes your offer contingent on the appraise fair market value as determiined by your appraiser, not the lender's appraiser.

When the appraisal comes back less than the amount that you offered then give the seller two choices:

1. Agree to reduce the purchase price to the fair market value as determined by your appraiser or..

2. Agree to cancel the contract and direct the escrow company to return your deposit.

Also ask the atttorney to make the contract contingent on your approval of the inspection reports.

I recommend at a minimum a termite report, an inspection for water damage and dry rot, an inspection for mold, an inspection of the roof and an inspection of the structure, foundation, plumbing and electrical systems.

I also recommend that the inspection contingency period and the appraisal contingency period be at least 21 days to give you r appraiser and inspectors enough time to get our to the property and prepare the reports and give you enough time to review the reports and do additional inspections when they are recommended. Additional inspections are usually recommended by the inspectors.

Also make your contingencies only removable by you in writing, not by the passage of time. This way your contingencies will not automatically expire when you did not intend to remove them.

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Answer 2

righteous is correct in his statement about the housing market in Florida. Especially on the Gulf of Mexico side where hurricanes from 2 - 3 years made all potential buyers disappear.
Your question: whether prices and deals can change. I am assuming you mean change during negotiations.
Until you have a signed acceptance from the seller - yes they can. Four years ago, I put an offer on a house on the Gulf, that was only $5K less than the asking price. The seller countered with $25K higher than the asking price listed. This is legal and not that uncommon - especially if the seller has more than one offer at the same time.

Answer 3

Mark,

Can you be a bit more specific with your question? I'm unsure if you are referring to price negotiations on this specific house, if property values are fluctuating around the home you intend to purchase (making you question your decision to buy), or if new charges and/or taxation issues are appearing, of which you were previously unaware.

Have you enlisted the help of an estate agent in Florida experienced in representing International buyers, or are you attempting to purchase directly from the seller (or seller's agent)? The reason I ask, is because they are who should be answering all of your questions to your satisfaction...

Thanks, and good luck!

BTW - Mike's answer above is definitely great advice.

Answer 4

The housing market in Florida is dead. Overbuilding and foreclosures are rampant. If you show up with cash in hand, you should be able to strike a tremendous bargain. If you don't, then you weren't trying hard enough.

Answer 5

No need to buy in Florida, it will all be underwater in 50 years once the ice caps are gone.