Ways to Find Affordable Houses in Florida

Mon, Apr 14, 2014

General Legal Issues

Some rights reserved by james.thompsonWe are all aware of the traditional way to find a home to buy–a realtor. And that is still a viable option, of course. However, today’s housing market and today’s technology has changed how a housing search can work to your advantage.

Trying to find an affordable house is easier these days because of the economy. Loan rates are lower and inventory higher in some areas. But, lenders are requiring more down payments and better credit than they were even 6 years ago. Short sales and foreclosures can take a longer time to process than a traditional sale too. And investors often snap up the cheapest homes. This is all in addition to finding a house you like in a place you like.

So, what do you do if your credit isn’t that stellar? Try to find a home you can pay for outright. Not possible? Then try to find someone offering seller financing that will work with you despite your credit woes. Services like craigslist.com are a way to find these types of homes. There are also many other places on the Internet you can find seller financed homes. However, these types of sites can be full of scams—so be careful. A real estate attorney can be helpful with this type of transaction. They can help advise you about a particular offer. In addition, they can be helpful (along with other professionals like accountants or financial planners) in helping you determine what you can afford and if buying a particular home is feasible in your situation.

Trying to find a home you can afford that might need some work, but finding they disappear rapidly off the market? Create saved searches that alert you when houses just come on the market. Some places to try are homepath.com and Zillow.com. Many realtors also allow you to sign up for a similar service with them.

Take advantage of today’s housing market if you are able. Technology and new possibilities are helpful in allowing you to do so.

Attorney Christopher D. Smith is a Lakewood Ranch, Florida attorney with SmithLaw Attorneys. He concentrates in bankruptcy, civil litigation, probate, estate planning, and elder exploitation cases in the Sarasota and Bradenton area. Call 941-907-4774 to learn more and to ask about our free consultations.

Image: Some rights reserved by james.thompson

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