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Sunday, May 03, 2009

Are you really ready to make an offer?

This market provides many attractive opportunities for home ownership in Brevard County, Florida. From what I have read recently it is the first time home buyers who are entering the market ($8,000 tax credit!).

But, because offers are less frequent than a few years ago, you can expect as a buyer to be required to provide solid evidence of your ability to purchase when you make an offer. Sellers want serious offers from serious buyers.

What type of evidence? If you are a cash buyer, proof of funds in the way of a letter from your bank or investment company. In April 2009, there 485 homes sold in Brevard County - 176 were for cash!

If you are going to get financing then, at a minimum, a pre-approval letter from the bank. This is not the same as a pre-qualification letter which means about nothing! About 2 out of 3 buyers financed their April 2009 purchase.

And, the ability to provide a reasonably attractive escrow payment (good faith down payment) when your offer is accepted. What is reasonable? That will depend on the property. I always say, give just enough for the seller to know you are serious that satisfies the sellers!

If you are ready to buy a home in Brevard County, Florida, please give me a call. I would welcome a chance to discuss how I can help you. Have a question, just drop me an email to

Gary Waters, Century 21 Baytree Realty, Rockledge, Florida. Read my blogs and

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