Want to sell your home located in Fort Lauderdale but need assistance in understanding the process and legal requirements? We’ve got you covered.
The step-by step guide we provide breaks down the process of selling your home from beginning to end. We explain how to find and select the most suitable agent, advertise your home for auction, discuss with buyers, sign documents, and then close.
To help you navigate the Fort Lauderdale process of the Fort Lauderdalehome selling procedure, take a look at our nine-step guide.
How do you sell a home in Fort Lauderdale
- Select and find the best Fort Lauderdale Selling House agent
We recommend that you find at least three local agents for sellers to evaluate and select from prior to signing an listing agreement. The process of comparing multiple options can help you to determine which one is the best match for your particular situation andcould help you save thousands of dollars on commissions paid to realtors.
There are many options to locate an agent in Fort Lauderdale. To save cash and time, use websites that make it simple to locate reputable choices.
Agent matching services
Agent matching services connect you with local agents for no cost. This is the most efficient way to connect with experienced local Selling house agents in Fort Lauderdale as well as to realize commission savings.
What it does: You provide basic information about your house and what you’re looking for from an agent. In just a few minutes, the service connects you with the best Fort Lauderdale agents from reputable brokerages like Berkshire Hathaway and Keller Williams.
Certain agent matching services such as Clever Selling House, can help you save thousands on the commission of a realtor. Looking to sell your house fast for cash? We beat the other guys’ offers this article
For instance, Clever has pre-negotiated a one-time $3000 or 1 percent listing fee with its top agents. This is cheaper than the standard Fort Lauderdale fee for listing agents (2.5 percent).
Compare the commission-based agents at 1% and save thousands of dollars
Our partners at Clever bargain low listing costs of 1percent or $3,000 for top performing agents, which means you don’t need to pay. Get rid of thousands of dollars in fees for realtors now!
Friends and family members can provide you with a reliable real estate agent recommendation that is trustworthy since they wouldn’t suggest someone they’ve not had an excellent experience with.
There’s no guarantee of an ideal match. You’ll have to check the experience and credentials of the agent cautiously even if they’re highly recommended from a reliable source.
How do you compare agents?
Once you’ve identified a few top-rated agents then it’s time to schedule meetings with agents, have them meet at your home and pick the best agent.
Here are some of the most important agent-related criteria to take into consideration:
- Expertise. Choose an agent for listing with at least 2 years of full-time experience with a focus on your region price, location and type of property (you will look up this information on the most well-known Selling houses websites such as Zillow).
- Reviews from customers: Look for positive customer reviews from previous clients. A couple of bad reviews isn’t an issue. However, agents with multiple negative reviews in a short amount of time (3-6 month) could be an indication of red flags. You can examine the reviews of each agent by using Zillow’s Agent Finder tool.
- Marketing capabilities. Check each agent’s current or closed properties on Zillow or ask them to provide photos of their listings. Make sure you find clean, polished images with excellent lighting. And compelling description of listings that emphasize the home’s most important highlights.
- Commission fee. Fort Lauderdale listing agents receive an average commission of 2.5 percent per sale. This does not include commission paid by the buyer’s agent (2 percent to 3.0 percent) that sellers nearly all the time in Fort Lauderdale.
- Find out what the agent’s fees are (and what’s included in their offerings). You might want to consider using an agent match service such as Clever which has pre-negotiated the flat 1percent (or $3000) listing commission with the agents that are part of its network.
- You may also find out if each agency’s Selling house license remains in good standing with good standingor if it’s suspended or not active. Check licenses on the Fort Lauderdale Department of Selling House.
- You must sign an Fort Lauderdale listing agreement as well as disclosures to the seller.
After meeting with the agents and making your final option, you’re now ready to sign and read an Fort Lauderdale listing agreement to put your home up for sale.
You’ll find crucial information about your home’s sale. It will include your planned listing date, your initial list price, the items to be included (or that’s not) in the sale, the location where your listing will be advertised, as well as the term of your agreement.
Important things to be aware of are:
- The type of listing agreement. The majority of agents are with an exclusivity right-to-sell listing contract (single agency). This means that the agent is exclusively for you and is paid no matter if they get a buyer or otherwise.
- Commission rate for listing. Be sure that the agent’s commission rate is in line with what’s stated in the listing agreement.
- Items that transfer along with property. If you are planning to keep any items or possessions in your home, like appliances, you’ll have to include that on the lease.
Realtor disclosure requirements
Fort Lauderdale law obliges agents to provide you with a disclosure form for agency which outlines all the legal obligations that the agent has to you.
Here are the different types of Selling Agency agreements for houses:
- One-to-one relationship between two agents. The agent or broker is only one entity (either the seller or buyer) and is fiduciary. Agents typically recommend their clients sign one agent relationship as it provides their clients with the greatest protection when compared to other alternatives.
- Relationship between a transaction broker or “open listing.” The broker or agent provides only limited representation to buyers either the seller or buyer or both in an agreement, and is not fiduciary (meaning they aren’t required to be acting in your best interest). This is a less appealing option in comparison to a single agent relationship, as the agent isn’t required to represent your best interests (not an official fiduciary).
- Double agency. Agents can represent both the buyer and you during the same transaction. They are acting as an agent of fiduciary duty for both parties. This could happen if your agent for listing brings buyers to the table. Although it’s prohibited in some states dual agency is completely legal and frequent in Fort Lauderdale.
Get in touch with an local Selling house lawyer to get more information regarding Fort Lauderdale Fort Lauderdalelisting agreements and the required disclosures.
What are the requirements Fort Lauderdale sellers have to reveal to potential buyers?
Fort Lauderdale disclosure requirements can be complicated when compared with other states.
Sellers are legally obliged to sign the Selling Disclosure Statement of House Transfer and give this to buyers as fast as possible prior to the transfer of the title.
Sellers are still required to inform buyers of any issues which could impact their value for the property or the buyer’s willingness to buy it. This includes structural problems or any structural modifications that are made to the house (e.g. new bedrooms) as well as flooding issues or severe weather-related damages that the house has suffered. Explain each “Yes” answer.
In Fort Lauderdale the state of Fort Lauderdale, sellers must reveal any material defects to a property prior to executing a sale contract. Sellers must also be able to declare if there has been any death in the property, provided it occurred in the past three years (and it was not related to AIDS).
What does the term “material defects” usually mean within Fort Lauderdale?
Contact your Selling lawyer or agent about the information they suggest that you tell potential buyers, and the best way to do it.
- The price of your home
The next step is to identify a fair selling price for your house.
At the time of your initial meeting the agent should have presented you with an analysis of market trends (CMA) report. This is an estimation of your home’s fair market value, based upon the condition of your home, its upgrades and comparable homes that have sold recently in your region.
What is an CMA report typically include?
A CMA is an excellent tool that can help both you and the agent decide on an appropriate listing price for your house. However, it’s not a definitive recommendation to offer higher (or more or less) then your CMA valuation.
Is CMA free in Fort Lauderdale? CMA available in Fort Lauderdale?
The majority of Fort Lauderdale agents will provide CMAs at no cost. CMA at no cost in order to gain your business which is presented in your first meeting in person with an agent. It is necessary to pay for an CMA (or the broker’s price estimate) when you’re making a sale “for sale by owner” and only require an estimate from a professional.
What if I’m not satisfied with the appraiser’s assessment?
Be in alignment with your agent regarding pricing prior tosigning an agreement to list. However, if you’re still not agreeing about price after you’ve signed an agreement, there are a few possible options.
Contact the agent to understand the process they used to arrive to their value and review the numbers. It’s possible that they overlooked one or the most significant characteristics, or they may have underreported the square footage that may hold the value of your home back.
If the agent is still insisting on their valuation, inquire with whether there are minor fixes or upgrades that you can do to increase the value of your home prior to the listing.
If you’re in an impasse, it could be worthwhile to end the contract and find a new agent.
Do I need to opt for an appraisal for my property prior to listing?
Appraisals are generally performed by buyers during the home selling process. However, you may be able to have an appraisal prior to placing your house for sale in order to determine the price.
Appraisers usually have more experience and experience when it comes to valuing homes, in comparison to agents. They could provide you with more precise valuation.
But appraisals can be expensive (they cost about $650 in Fort Lauderdale which is higher than the majority of other states) They can also be lengthy (1-2 weeks to finish) So, they need to fit into the budget you have set and your timeframe.
It’s not a guarantee that your home’s value will increase with an appraisal, compared to the appraisal of your agent’s CMA so keep this in mind prior to proceeding.
Beware: Do not use the use of online home estimation tools to estimate your house!
If you’re considering selling your house and do not have any agent in place, then we would strongly suggest that you avoid using a home value estimate like Zillow or Realtor for pricing your home.
Home value websites offer an approximate estimation of your house’s value. However, they could be off by tens of thousands dollars.
CMAs are more reliable than other valuation methods such as online home websites because the appraiser visits your house and gives an estimate for each your home’s improvements and upgrades -whereas websites like Zillow might not be aware of the improvements.
- Get your home ready for the market
It’s time to prepare your home to be exhibited!
Take important documents
The majority of Fort Lauderdale homes sold require a variety of papers and records required for closing. This includes your mortgage statement as well as natural Hazard Disclosures (for instance, if the property is located situated in a flood risk zone , an earthquake fault zone) and the homeowners’ associations (HOA) papers, as well as property taxes.
It’s an excellent idea to keep a record of utility bills and any homeowner warranties or appliance manuals that you might havein the event that the buyer asks for them.
Check the pre-listing inspection
You can have an inspection of your home ($400-$450) If you think the home is in trouble that could delay or hinder your home’s sale.
A pre-listing inspection could aid in identifying and fixing the issues in your home prior to these issues show up during a home inspection by a prospective buyer.
However, a seasoned Selling House agent should advise you whether the benefits of a pre-listing inspection are worthwhile and worth your time and effort.
Repairs and improvements to your home.
Based on the findings of an inspection prior to listing (and the state of your property) Based on the results of your pre-listing inspection, it may be worthwhile to consider making specific repairs or enhancements.
According to John Robinson’s Inspection Group, common home inspection concerns in Fort Lauderdale According to John Robinson’s Inspection Group, common home inspection issues in Fort Lauderdaleare connected to:
- Roof damage caused by the constant sun throughout the year as well as frequent rains and ocean salt
- Damage to the frequent forest fires that ravage the state.
- External problems caused by earthquakes, for example cracks in foundations
A lot of Fort Lauderdale houses are old According to Jose Roberto Samano, a top broker at eXp Realty of Fort Lauderdale Inc. This causes issues that are caused by a lack of maintenance for HVAC systems and fixtures, plumbing and insulation.
Your agent is the best person to guide you on what repairs or enhancements you should make prior to making any changes prior to. In a market that is strong for sellers there is a chance that you don’t need to make any adjustments.
Depersonalize, clear and clear
This is the ideal opportunity to sell, give away or dispose of unwanted or unwanted objects, and organize your home prior to shows.
Check that all areas of your home are clean. Be aware of areas where potential buyers are likely to notice the most soiled areas including your bathrooms and kitchen.
Make sure that every room is depersonalized and remove art work, family photos, and posters. It’s ideal to focus the attention of buyers at your house, not on your possessions.
Take into consideration the possibility of home staging
Staging your home can boost its appearance and can lead to more money in the sale, but it’s not the best option for every buyer.
Home staging can be expensive ($3,500 and up, or $6500 to $7500 for Fort Lauderdale). However, the cost will vary based in the area of the house as well as the number of rooms that need to be staged, as well as the local market.
Talk to your realtor for assistance on whether home staging is the best option for you.
This calculator will show you how much you could earn from the event of a home sale, after subtracting the typical costs associated with selling a home that include realtor commissions as well as closing costs.
R commission for ealtor:While the average Fort Lauderdale rate is near to 5percent, you could possibly save thousands of dollars by using an agent-matching system such as Clever or by negotiating a lower rate with agents.
Costs of closing. Fort Lauderdale sellers have to pay on average 0.8 percent ofof the price of the house in closing costs. These typically covers title services and closing costs, owner’s title insurance as well as transfer tax and recording fees.
The price is do not include any other costs that could be incurred for example, moving expenses, home staging and closing costs of a buyer when you are willing to pay these costs taxes on capital gains.
Mortgage/liens. What a seller may have to pay on mortgages or liens, that is due in full at the time of closing by your title company.
Net profits. The amount you’d receive from the sale of your home at different price points after subtracting closing costs and mortgages.
- Showcase your home to potential buyers.
Now is the time to put your home on the market and to invite prospective buyers!
The agent representing you will place an “for-sale” sign on your front lawn, and then advertise your property to sell on the multiple listings service (MLS) A database that most Selling house agents use to promote and sell their properties.
The agent you choose should also advertise your property on the most popular Selling houses websites (like Zillow, Trulia, and Realtor) Additionally, they may also organize an open house in order to draw more interest.
My listing is up What will happen following?
Selling your house is both thrilling and stressful! What should you do next:
- Plan a the event that your pet gets lost. Some sellers leave their pets in their garage or backyard during open houses, while others take them out of the house completely. It’s your choice and it’s not up to the buyers! If you’re planning to keep pets at your house for shows, you’ll be required to notify prospective potential buyers (ask an agent suggestions regarding how to accomplish this).
- Look over the listing you have on Zillow and other sites that are popular. You must enjoy all the pictures utilized in the listing by your realtor (contact them for more information if you do not).
- Double-check the description of the listing. It should include the main characteristics and selling points and should be written with good punctuation and grammar.
- You might want to consider posting your advertisement via social networks. Get the word out to your family and friends. You might also take into consideration sharing the information in the local Facebook groups.
- Be attentive to the activity of your listing. You can determine how many users have visited the listing and saved it on Zillow and compare it with others local listings and gauge the performance. The information can be found beneath “overview” on your listing’s Zillow page (example below).
How do you book shows?
A majority of agents utilize an app for mobile devices called ShowingTime to assist in managing scheduling appointments for showings.
The app lets buyers request shows online, while sellers are able to view and accept (or refuse) any request for a showing (and agents are informed of any activities).
It’s possible that you’ll start getting inquiries for showings within two or three days after launching your home, however it may take longer based on the home’s value and condition as well as the local market.
What happens when you show a film?
You should leave your home open so that the prospective buyer and their agent can visit your property. Buyers and sellers are not in direct contactand speak to agents.
Your home key could be stored in a locked box in which the agent of the buyer can gain access to the key. The agent usually gains access with a single-time code.
Showings usually last from 15 to 45 minutes dependent upon the dimensions of your home and the speed at which the buyer is able to walk through the house.
Inform your agent whether you have any specific conditions for showings, such as whether you require buyers to take off their shoes prior to entering, or if the lights need to remain on (or switched off) following the showing or if any area of the property must be sealed off.
What happens after the shows?
It is possible that the ShowingTime application or agent can inform you once the show is finished and you are ready to go to your home.
Feedback on your home’s showings can be received from buyers via the ShowingTime app or via emails, or directly from your agent. Feedback can give valuable insight regarding the price of your home as well as its conditions from the buyer’s point of view.
You may also get an email from your agent stating that the buyer is enthralled by the property and is willing to put an offer on the table.
Pro tip: Pay attention to the feedback of a homebuyer!
The feedback from buyers can be negative but bad feedback can hurt. Buyers might mention what they did not like about your property, or the flaws in your property and even if they think that your home is priced too high.
It’s easy to be offended by feedback, particularly when the buyer is too critical. Try to take their comments to heart. If several buyers provide the same comments and you are able use their feedback to improve the quality of your listing.
- Discuss your options with buyers
You may have been offered multiple times within several days or weeks of launching!
The offer should include the buyer’s price for the offer If they’re asking for payment for any closing costs, as well as the type of financing they’re using the estimated closing date and an expiration date (typically 24 to 48 hours after the date of the submission).
The three options that sellers and their listing agent respond to an offer from a buyer:
- Take the deal. If the offer is all you’re searching for — prices, terms and even the timing look excellent, then it’s probably best to take it up without hesitation particularly if no other options are available.
- Opt to counter an counter offer. Most aspects in an offer buy your house are negotiable. It may be beneficial to contest an offer when you’re sure that you’ll receive a higher offer in the event that the buyer rejects it.
- Do not respond to your offer. It’s not necessary to respond to a lowball proposal as it doesn’t match all of your requirements -particularly if you have better offers to consider (or you’re certain that others will also come in).
Remember, if you reject an offer, and the buyer accepts it you’re technically in agreement.
How long will it take to reach an offer that is acceptable?
The timing of your sale is largely based on the appeal of your home, as well as the value you’ve set for your house.
Fort Lauderdale listings averaged forty days for 2021 on the market. This was less than the average national for 48 days as per Realtor.com.
The median time of sale for houses in the five major cities of Fort Lauderdale was 17 days up between 17 and 32 days.
Contact your agent to discuss expectations about the time you could get an offer that is acceptable when you go live.
The price is crucial however the price of a product is not all that matters!
The most expensive price can be certainly notalways the best deal you’ll get. Other factors to take into account include:
- Costs of closing for buyers:Is the buyer asking you to pay for some or all of the closing expenses? This affects your net proceeds when you close therefore, you should take your time when calculating the numbers (and request your agent to provide the most recent net sheets).
- Type of financing:Is the buyer paying in money in cash, or is the buyer financing their purchase? (Cash transactions typically close faster and have less hiccups when in comparison to financing deals).
- The amount of earnest money is:How much risk is the buyer taking on? It is typically between 1% and three percent of the home’s purchase cost. A higher deposit will give buyers the benefit of having more “skin in the game,” that is, they’ve got more to lose when they decide to withdraw.
- Time of sale:Is the buyer ready and able to complete the deal within your deadline?
- The home sales contingencyDoes the buyer have to sell a home to purchase yours? It could just not worth the risk of the buyer’s previous sale not closing , especially if you’ve got stronger offers available.
Your Realtor is in a great position to provide you with advice on how to assess offers and deal with buyers.
- Examine the documents and take a decision to accept an agreement to accept the
If you’ve chosen that you’d like to consider an offer, and you’ve discussed the offer in conjunction with the agent you’ve chosen, now it’s now time to read the contract carefully and then sign!
Once the signing of all parties the contract, your house is now in contract and you’re only two months closer to closing!
In Fort Lauderdale generally, it takes around 69 days in Fort Lauderdale forto close an offer to purchase a house following acceptance of an offer. This is less than the average for the nation that is around 78, as per Realtor.com.
What’s included in the terms of a Fort Lauderdale agreement for purchase and sales contract?
You can download the complete latest edition of Fort Lauderdale Residential Purchase Agreement and Joint Escrow Instructions on Fort Lauderdale Association of Realtors website However, it is priced at $827.95 in non-members’ fees to download the document.
Here are some of the most important things the buyer’s offer to buy form should include:
- Basic information. The buyer’s legal name in full, and the address of your home.
- Price of purchase. What is the price that the buyer is willing to pay to purchase your home.
- End of the escrow. The expected date on which ownership transfers over to the purchaser.
- Initial deposit amount. Also called earnest money that the buyer deposits into an escrow or trust account. The money remains in trust until the closing, when it is applied to the home’s cost of purchase and/or closing expenses.
- Financing details. The type of loan used to fund your purchase (conventional, FHA, VA seller financing, another) as well as the amount of the loan.
- Down payment balance. The remaining down payment is due at the time of closing, after the buyer has paid for the initial deposit and the additional deposit.
- Items include: Such as appliances or security camera equipment.
- Cost allocation. An inventory of the closing expenses and the amount that either the seller or buyer (or the seller and buyer) will cover the costs, which includes the required inspections, escrow charges the owner’s title policy and so on.
- Costs of closing:A list of closing costs that buyers and sellers will agree to pay. For more information, find out the actual costs involved in selling a home.
- Conduct inspections, appraisals, and walk-throughs at the end of the month
Fort Lauderdale contracts usually offer buyers a 17-day due diligence period or contingency in which they are able to conduct a home inspection and then apply for financing.
Do not worry about it: this is a regular element of the home selling process. In reality, the vast majority of buyers (87 percent) are required to have an inspection plan for their homes across the country.
Sellers typically don’t go to the inspection, or get to view the report on the home inspection. However, the buyer may request that you fix any problems or deficiencies that are discovered during the inspection (or bargain for a lower price or credit for closing).
Talk to your agent to find out what you’re legally required to repair and the best method to proceed after the home inspection.
Termites pose a major problem in Fort Lauderdale and a majority of banks require that you submit a termite examination or wood-destroying pests and organisms (WDO) document. Requesting an inspection and completion of the WDO Activity Report on the internet.
It is possible that you will be responsible for the expense of an inspection for termites (about $100) You should consult your agent for more details.
Buyers are often required by lenders to obtain an appraisal in order to make sure that the property is worth the purchase price. The appraisal is usually paid from the buyers in Fort Lauderdale (though often the seller may offer to take care of this cost).
The appraiser comes to your house to take both exterior and interior photosand notes any special improvements or features that add value to the property. They assess your home against recent sales in the area and produce reports that provide an assessment of the worth.
The buyer and the lender get a copy of the appraisal. You’ll be informed when your home’s appraised value is less than the price of purchase and in that scenario you’ll have to negotiate a new cost with your buyer. Ask your agent guidance on how to deal with an appraisal that is low.
The buyer can take a walk-through one or two days prior to closing to make sure that the property is in the same state as it was on the last time they visited.
Here’s what you should complete prior to the walk-through
- Get rid of your home completely If you haven’t done so yet taken out all personal items.
- Fix or replace any damaged or damaged drywall, nail holes or paint.
- Be sure that everything in the sale contract are present (appliances lights, appliances, etc.).
- Do a little cleaning in the event that your home is dirty.
- Close on your home sale
The finish line! Here’s what you should do in the days prior to the date you’re supposed to finish.
- Check for the closing disclosure. You’ll likely have to sign the form two to three days prior to closing. It lists all costs to be paid by both the buyers and sellers, as well as the estimated net profits. Verify all numbers with your agent and let them know if numbers aren’t as you expected.
- Clear your house completely. Your home should be clean prior to the scheduled walk-through of the closing. It’s best to conduct a walk-through again prior to the closing date to make sure you didn’t miss something.
- Give the keys in to your realtor. Your realtor will likely need your keys to your home and garage door openers to give to the agent for the buyer.
- Learn when and at what time the closing date is. The majority of the paperwork you need to fill out has been completed on your behalf. Contact your agent to determine if you require attendance at your closing or if you’re able to make any final changes to the paperwork electronically.
- Stay in contact. Buyer closings can be delayed quite often (there are many involved involved in the Selling house transaction). Don’t be surprised if your closing does not happen precisely at the time it was scheduled! Your agent will keep you informed of closing status throughout the day.
Step 3: Get your pay check!
Congratulations! When you and your buyer have signed all the documents closing on the sale of your house.
The price of the home’s sale will pay off the commission paid to the agent along with closing costs. It also will pay off any loans or liens due to the home.
The net proceeds may be transferred to your bank account following closing. Contact your lawyer, agent or title company for more information about what and when you’ll be your money.
Next steps after closing
If your house sale is technically finished however, there are some things you may like to accomplish following closing.
Save your home sale documents. It’s recommended to have the digital and physical copies of your home sale contract to keep for your tax and personal documents.
Calculate your potential capital gains tax. You could or might not have to pay tax upon selling your house subject to the amount your house has appreciated in value after you purchased it.
The IRS does not count home sales gains as high as $250,000 for an individual, and $500,000 for married couples who resided in or owned a house for at most two of the last five years.
Get in touch with your tax advisor for further information on capital gains tax and whether you’ll have to pay anything.
Notify the U.S. Postal Service and DMV. You might want to establish forwarding of mail at your address of choice on USPS’s website. USPS site (it cost $1.10).
If you’re in the state of residence or moving to another location, Fort Lauderdale requires residents to inform to the DMV in the first 10 days after changing an address. This is the case if you’re planning to register vehicles in the state of your choice, or continuing to maintain your Fort Lauderdale registration.
Give your agent some appreciation. Did your agent do a great job? Write them a glowing Zillow review and pass the contact information of the agent to friends and family members who may be interested in purchasing or selling a house.