Frequently Asked Questions

Conventional loans often start around 5-20% down, FHA loans as low as 3.5%, and VA loans can offer 0% down for eligible veterans. The right amount depends on your loan program, credit profile, and the property.

Earnest money is a good-faith deposit showing you're serious about the purchase, typically 1-3% of the offer price in South Florida. It's held in escrow and applied toward your down payment or closing costs at closing.

Most conventional purchases close in 30-45 days from a signed contract. Cash deals can close in as little as one to two weeks.

Yes, it's strongly recommended. An inspection typically costs $300-$600 and can uncover issues with the roof, HVAC, plumbing, and structure before you're locked into a purchase.

Buyer closing costs in Florida generally run 2-5% of the purchase price, covering items like lender fees, title insurance, appraisal, and prepaid taxes and insurance.

If the home is in a FEMA-designated flood zone and you have a mortgage, your lender will require it. Even outside those zones, many South Florida buyers choose it given our climate.

Yes, if you have contingencies in place for financing, inspection, or appraisal and act within their specified timeframes. Backing out outside those protections can put your earnest money at risk.

Pre-qualification is a quick, informal estimate based on self-reported information. Pre-approval involves a lender verifying your income, credit, and assets, and carries far more weight with sellers.

Property taxes are based on the assessed value set by the county property appraiser and the local millage rate. Florida's Homestead Exemption can also reduce the taxable value on a primary residence.

Many South Florida communities have a Homeowners Association fee or a Community Development District fee covering shared amenities, landscaping, or infrastructure bonds. I'll confirm the details for any property you're considering.

It depends on your finances and the market. Options include a contingent offer, bridge financing, or timing both closings together. We can map out what fits your situation.

Kitchen and bathroom refreshes, fresh paint, curb appeal, and addressing deferred maintenance like the roof or A/C typically offer the strongest return relative to cost.

Office, retail, multifamily (5+ units), industrial and warehouse, and mixed-use properties across South Florida.

Commercial value is typically driven by income, using metrics like cap rate and net operating income, rather than comparable sales alone, though comps still matter for owner-user properties.

Capitalization rate is a property's net operating income divided by its purchase price or value, a quick way to compare the return profile of income-producing properties.

Commercial due diligence periods commonly run 30-60 days, allowing time for financing, environmental review, inspections, and lease or tenant estoppel review.

Lenders financing commercial property almost always require a Phase I Environmental Site Assessment, especially for industrial or former industrial-use sites.

Options include conventional commercial loans, SBA 504 and 7(a) loans for owner-users, bridge loans, and private or portfolio lending, depending on the property type and your business plan.

In a NNN lease, the tenant pays base rent plus their share of property taxes, insurance, and maintenance, shifting most operating costs from landlord to tenant.

Zoning is set by the local municipality or county and dictates allowed uses. Changing use may require a variance or rezoning application, which can take months depending on the jurisdiction.

Gross area includes common areas and structural elements. Net leasable area is the space a tenant can actually occupy and pay rent on, which matters when comparing per-square-foot pricing.

Commercial closings often take 60-90 days given financing underwriting, title work, and due diligence, though cash deals can move faster.

It depends on your capital position, growth plans, and how long you intend to stay in the space. Buying builds equity and control; leasing preserves capital and flexibility.

Commercial commissions are negotiated per deal and often split between the listing and buyer's-side brokers, commonly in the 4-6% range depending on property type and transaction size, though it's always negotiable.