The Current Market Requires Buying With Speed

Buying a home in Central Florida is like standing in the middle of a stampede right now. I’ve been working with a buyer in Canada who is looking for a home in Orlando, Florida.

Properties that are well priced (very low) in Central Florida sell within a few days. So I stressed to him the importance of moving quickly to try to get a property under contract. We found a property he liked and he was willing to put an offer in sight unseen as long as I checked it out first and made sure it’s in decent condition.

It was and he decided to make the offer. We got the proof of funds and escrow deposit together and started writing up the contract. It took about 24 hours to get everything in order. I sent the contract to him and he faxed it back to me as soon as he got home from work the next day.

By the time he faxed it back and I called the listing agent to let her know we were making the offer they had already accepted another offer. Even I was surprises at how fast the home sold. This property was a bank owned property and sold within 36 hours of coming on the market.

I always make a point of telling home buyers we have to have the proof of funds and escrow deposit in place as soon as possible. When you see that home come on the market that you know is a great home and a great deal you have to be ready to jump on it. Getting your funds into one account and wiring the escrow deposit may be an annoyance but trust me you’ll be glad you did when that unbelievable deal comes along and you’re ready to make an offer immediately.

You have to feel the need for speed. You don’t want to be in second place in this market.