So, you’ve been searching for that perfect home on Anna Maria Island and finally found it. Awesome! Finding your dream Anna Maria Island property for sale is a great feeling.
Now, it’s time to tackle the closing process. While this part of the process can be exciting, it can also feel a little overwhelming. No worries, though! Here are some tips to help you out. Read on to learn more about closing a property sale on Anna Maria Island.
Anna Maria Island Real Estate Market Watch
As of August 2024, homes in Bradenton Beach sold after a median of 126 days on the market. However, AMI real estate trends are always changing. Contact Billi Gartman for help buying and selling homes on Anna Maria Island.
4 Tips For First-Time Buyers Before Closing an Anna Maria Island Property For Sale
1. Time
Closing on a house usually takes about six weeks, but it can vary based on the market and what steps you need to take. Once you have a sale agreement for AMI real estate, you’ll have several steps before closing day. You’ll also need to get an appraisal done, do a title search, and arrange a home inspection. Once all that is complete, you must sign all the paperwork on closing day.
2. Documents
When you’re buying a home, there are a few key documents you’ll need to pay attention to during the closing process. First, there’s the closing disclosure, which breaks down all the loan details and costs. You have the seller’s disclosure, where the seller has to list any problems with the property. The title search will also come with a report outlining any issues. Your closing agent will also review the loan paperwork to ensure everything is correct. Pay attention and review the documents with them to make sure everything is in order.
3. Costs
When buying a home on Anna Maria Island, closing costs usually run between 3-6% of the purchase price. These fees cover stuff like title insurance, appraisals, and application fees. Buyers and sellers usually hash it out to decide who pays what. And don’t forget, on closing day, you’ll need to bring cash to close.
Remember: Your agent can help you understand the cost better and what it covers.
4. Get a Professional
Navigating the real estate market can be overwhelming. That is where getting a professional involved can make a difference. A knowledgeable real estate agent who knows Anna Maria Island can guide you through the process. They can assess prices, advise on closing, help with negotiation, and more.
Are you ready for your closing? Read our real estate closing checklist to help you prepare.
Are you interested in real estate on Anna Maria Island? Contact the Anna Maria Life Team. We are experts ready to help you navigate the local market.
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