We’re proud to help customers with their home buying and selling needs throughout Florida. Karisma is here to help you with your real estate and management needs.
We provide a broad range of services, much more than the average realtor. We also specialize in listing, selling, relocation services and property management.
The first step in the home buying process is typically assessing your financial situation. This involves reviewing your credit score, determining your budget, and understanding how much you can afford. It's also a good idea to get pre-approved for a mortgage by a lender, which will give you a clearer idea of your purchasing power and demonstrate to sellers that you are a serious buyer.
The home buying process typically takes between 30 to 60 days from the time an offer is accepted to closing. However, the entire process, from initial preparation to getting pre-approved for a mortgage, looking for a home, and closing the deal, can take several months. The timeline can vary based on factors such as market conditions, the availability of homes, loan processing times, and how quickly inspections and negotiations can be completed.
An escrow account is a financial arrangement where a third party holds funds or assets on behalf of two parties involved in a transaction. In real estate, an escrow account is commonly used to hold the buyer's earnest money deposit or funds for property taxes and insurance until specific conditions of the sale are met, ensuring a secure and fair process. Once all the conditions are satisfied, the funds are released appropriately. This setup ensures that neither party has control over the funds until all the contractual obligations are fulfilled.
In a real estate contract, a contingency is a condition or requirement that must be met for the contract to be legally binding. These contingencies are put in place to protect the parties involved, usually providing an exit strategy if certain terms are not fulfilled. Some common types of contingencies include:
Financing Contingency: This allows the buyer to back out of the deal if they are unable to secure financing or a mortgage within a specified period.
Inspection Contingency: This gives the buyer the right to have the home inspected, and if the inspection reveals significant issues, the buyer can negotiate repairs, request a price reduction, or cancel the contract.
Appraisal Contingency: It permits the buyer to cancel the deal if the property's appraised value is less than the purchase price.
Sale of Home Contingency: This allows the buyer to make the purchase contingent upon the sale of their current home within a specified timeframe.
Contingencies provide important safeguards in the buying process, ensuring that both parties are protected if unforeseen circumstances arise.
