Thursday, December 31, 2009

In Florida we put real estate offers in writing…

Over the past few years I have worked with several (OK, more than several) investors from out of state who were looking to capitalize on all the short sale and foreclosure bargains in Brevard County, Florida.

A couple of issues always seem to come up early in the process. In Florida it is not as simple as calling the seller's agent up and saying “how about $140,000 on that listing you have in Viera?”

No, the real estate purchase process involves several steps but the first two are critical:

  1. All offers must be in writing.
  2. Proof of funds is required.

Sellers, even short sale and foreclosure sellers, will not entertain verbal offers.

Furthermore, if you are serious your written offer will include a proof of funds letter, a mortgage pre-approval or some other tangible proof of your ability to make the purchase.

For information on the short sale process, either as a buyer or seller, call me at 321-693-3850 or email

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Read my blog Observations of a Viera Florida Realtor.