BUYING REAL ESTATE IN SOUTH FLORIDA
A Buyer’s Guide to Preparation, Search, and Closing 
By Karen Foster | Broker Associate
Signature International Real Estate, LLC
WELCOME
Buying a home in South Florida is exciting—but, it is also very different from buying real estate elsewhere.
From financing and insurance, to condominium and cooperative rules, inspections, contracts, and closing procedures,
there are important details every buyer should understand before making a decision.
This Buyer’s Guide was created to help you:
- Prepare before we begin our search
- Search intelligently and efficiently
- Understand each step from offer to closing
- Avoid costly surprises along the way
BEFORE WE START LOOKING AT HOMES
Preparation Is Your Advantage
Before we view properties, there are two essential steps that must be completed. These steps protect you and ensure we can move quickly when the right property appears.
1. Get Financially Qualified
Whether you plan to purchase with cash or financing, sellers expect buyers to be prepared.
You will need:
- A lender pre-approval from a local lender, or
- Proof of funds for a cash purchase (Includes Financial Institution Name, your Name, last 4 numbers of the account and a date)
I work closely with Signature Choice Mortgage, a trusted lending partner experienced with South Florida condos, coops, waterfront homes, and new construction. They jump through hoops for our customers.
This allows us to:
- Define a realistic price range
- Strengthen your position with sellers
- Reduce contingency times and closing
- Avoid delays once under contract
2. Sign a Buyer Representation Agreement
Nationwide, buyer’s agents are required by the National Association of Realtors® to have a signed Buyer Representation Agreement in place before showing any properties, even virtually.
This agreement:
- Defines the agent’s role
- Explains compensation and fees
- Establishes expectations and responsibilities
It is imperative that you sign an agreement with an agent you want to work with and trust.
🔗 What Is a Transaction Broker?
Unlike some states, in Florida real estate agents are Transaction Brokers. They are not assigned to represent one side or the other. They can represent both the buyers and the sellers in a transaction.
Middle River leading to Intracoastal Waterway
WE WILL DISCUSS YOUR PRIORITIES
Before touring homes, we will discuss:
- Primary residence, second home, or investment
- Lifestyle goals and timeline
- Preferred neighborhoods
- Waterfront and boating priorities
- Condominium vs. single-family ownership
- HOA rules, reserves, and restrictions
- Insurance considerations and long-term costs
🔗 For a more comprehensive checklist:
12 Things Buyers Need to Share With Their Real Estate Agent
https://www.karenffoster.com/12-criteria-you-need-to-share-with-your-realtor/
UNDERSTANDING SOUTH FLORIDA LOCATIONS
South Florida offers many lifestyles—often within the same city.
We will evaluate:
- Oceanfront vs. Intracoastal
- No-fixed-bridge boating access
- Walkable areas vs. quiet residential neighborhoods
- Condos, co-ops, townhomes, and single-family homes
- HOA-governed vs. non-HOA properties
The goal is to match location to lifestyle, not just budget.
SEARCHING FOR THE RIGHT PROPERTY
Searching is more than scrolling listings.
As we tour properties, we look beyond appearances and evaluate:
- Building condition and maintenance
- Financial health of the HOA
- Views, exposure, and noise
- Dockage, water depth, and bridge clearances
- Insurance availability and costs
Asking the right questions early prevents surprises later.
RESALE & CONDOMINIUM PURCHASES
Understanding Florida’s “AS IS” Contract
Most resale homes and condominiums in Florida are purchased using the Florida Realtors® / Florida Bar “AS IS” Residential Contract.
What “AS IS” means:
- The seller is not required to make repairs
- You retain full inspection rights, and unseen/undisclosed issues we can request credits
- You may cancel during the inspection period for any reason
Your inspection period allows you to:
- Hire professional inspectors (Home, Roof, Termite, Dock and Seawall, etc)
- Review HOA or condo documents, Milestone Inspections and SIRS(Structural Inspection Reserve Study) Reports
- Evaluate insurance options
- Decide whether to proceed, renegotiate, or cancel
NEW CONSTRUCTION & BRANDED DEVELOPMENTS
Andare (Downtonw on Las Olas)
Builders do not use the Florida AS IS contract.
New developments require buyers to sign developer-written contracts, which are designed to protect the builder.
These contracts often include:
- Strict deposit schedules
- Limited cancellation rights
- Extended construction timelines
- Restrictions on resale and rentals
Understanding these differences is critical before committing to new construction.
Rosewood Residences, Hillsboro Beach
DUE DILIGENCE & INSPECTIONS
After contract acceptance, we move into due diligence, which may include:
- Home or condo inspections
- Wind mitigation and 4-point inspections
- Dock, seawall, or roof inspections when applicable
- Review of HOA rules, budgets, reports and reserves
Inspectors will find issues—even in newer properties.
This is normal and expected. It’s for your knowledge. Even brand new construction has a checklist of repairs. Things that weren’t disclosed or visible might require asking for a credit.
FROM CONTRACT TO CLOSING
From contract to closing, I coordinate with:
- Lenders
- Title companies
- Inspectors
- HOA / Property Management Companies
- Attorneys when needed
The goal is a smooth, organized closing with no last-minute surprises.
PROPERTY TAX RESOURCES
Stand-Alone Buyer Reference
🔗 Estimate Property Taxes (Broward County) & Portability
This tool allows buyers to estimate property taxes based on a potential purchase price. Actual taxes may vary based on exemptions and assessments. What the seller may be paying is usually very different than what you can expect.
If you currently are homesteaded anywhere in Florida and buying a new property in Florida you can move that Homestead Exemption to your new property! Broward County Portability
🔗 Future Property Tax Changes
Florida lawmakers, supported by the Governor, have discussed proposals that could reduce or eliminate certain property taxes on homesteaded (primary residence) properties, subject to voter approval in November 2026.
FINAL THOUGHTS
Buying real estate should feel informed—not rushed or overwhelming.
With preparation, clear expectations, and professional guidance, buying in South Florida can be an exciting and rewarding experience.
LET’S FIND THE HOME THAT’S RIGHT FOR YOU
(Optional full-page text closer or image + text page)
Karen Foster
Broker Associate | Signature International Real Estate, LLC
📞 561-212-7769
🌐 KarenFFoster.com
📺 YouTube: @KarenFFoster
