Naples Buyers Guide

What to expect..And a timeline.
This is for regular sales only

• You get your book….
List of what you will see in the correct order…usually
Photo report of that listing
Listing history of that listing
Public record report of that listing
CMA (Comparative Market Analysis) of that community
6 per page report of all the active listings in that community
You can make notes in the book

• We look at properties……we keep only 3 in our sights.
And if you love the first one we can stop right there
We are looking both at properties and at communities

• You decide on a community…you can then see everything that fits your criteria in that community.

• You make an offer –  with a check for $1,000 with the offer
Offer/contract included with this packet
The check is held by title company and is held in a non- interest bearing account

• Response time for acceptance or counter 48 hours

• You may choose to use a lawyer, but most of your deals are handled by a title company.  You choose the title company in Collier County. You pay for the title insurance.  In Lee County the seller chooses the title company and pays for the title insurance.
Your closing costs should be no more than 2% of the sales price

• Once accepted – 15 days to get the home inspected
You can choose from my list of inspectors
I try to do it in 5 days
Depending on size of home that will determine of the cost
I recommend you do general, mold, radon and if first floor  or single family a termite inspection.  Also air conditioner  diagnosis.

• Seller has 3 options – - according to the contract he must deliver home with everything in working order.  He is not responsible to fix anything cosmetic…ie cracked tile…

• His options are
Repair everything
Repair or give you credit for items that are not cosmetic
Say he is not doing anything and you get your deposit back

• You will receive the HOA and/or Condo Docs…including the current budget
You will need to sign and date the day that you receive them  and then you have 3 days to review them.  If you cannot live  with the docs you may get your deposit back.
Bear in mind the community that you like is using the  docs that you are looking at and in many cases the  docs are over 10 years old.

• In 10 days from the acceptance of the offer you will bring your escrow deposit up to 10% of the agreed upon price.

• If it is a cash deal you can close in as little as 3 weeks

• A mortgage will take at least 60 days to close….It is best that you have an approval from a bank before you make your offer.

• You may have to make application to the homeowners association…there is often an application fee with this.  I suggest that you do this as soon as you can.

• Short sales can take from 2 months to 9 months and may have several offers on the property .
These properties are always sold as is with the right to  inspect

• Foreclosures may be much shorter in time but still allow for 2 months unless otherwise stated in the listing
These properties are always sold as is with the right to  inspect

• The day of closing you must have the electricity and water bill put into your name

• Taxes in Collier are 1.25 % of the assessed value of your home which is usually about 80% of the sales price.  In Lee County taxes are 1.5% of the assessed value of the home.

This is a general idea of what will happen and the time lines…every property is unique…I will always try and keep you on the proper time-line.