Steps to Take Before Closing on Florida Farm Land
Making a farm land purchase in Florida comes with some risks, which is why it is important for land buyers to be well-informed before entering the purchasing process. To ensure that you are prepared to purchase farm land for sale in Florida, we’ve created a list of recommendations for a smooth and seamless process.
If you decide to finance the purchase of Florida farm land for sale, consider getting pre-approved by a lender prior to making an offer. Not only will this decision make the closing process much smoother, it will also give you a budget to work within. To further simplify and speed up the process, consider purchasing the farm land outright in cash. Typically, a cash purchase does not require the involvement of a lender or property appraisals.
Perform a Title Search
One very important detail that many buyers overlook is performing a title search. Performing a title search will help ensure that when the purchase is processed, no other person can later claim ownership of the property. A “cloud on the title,” or third-party claim to ownership of the property, can invalidate your ownership of the property. If during the title search a cloud on the title is found, it is imperative that it get resolved prior to closing.
Consider the Closing Costs and Negotiate
There are many closing costs that the seller is responsible for, but there are also closing costs that are the responsibility of the buyer. Examples of closing costs that a buyer may be responsible for include fees associated with deed recording or document stamps. Although there are legitimate costs associated with closing, buyers need to be mindful of what are known as “junk fees” such as administrative fees, appraisal review fees, email fees, and processing fees. Often buyers can get these fees eliminated altogether or at the very least get them reduced through negotiations.
Enlist the Help of a Land Sales Expert
When you to choose to buy farm land in Florida, it is always recommended to enlist the help of an experienced real estate professional. A real estate professional who is experienced with Florida farm land will be able to guide you through the process of buying farm land for sale in Florida, provide recommendations based on first-hand experience, and identify costly issues that are often missed by buyers. At SVN Saunders Real Estate, our team of highly experienced land sales associates, many of which are native Floridians, have extensive knowledge and strong backgrounds in Florida farm land.