Your Step-by-Step Guide to Buying a Home in Broward County, FL
Buying a home in Broward County doesn’t have to feel overwhelming. Below is a simple, clear breakdown of the entire process—from getting pre-approved to closing day—so you know exactly what to expect.
1. Get Pre-Qualified or Pre-Approved (First & Most Important Step)
Speak with a local mortgage lender to obtain a pre-approval letter.
·Needed to determine:
- Maximum purchasing power
- Estimated monthly mortgage payment
- Loan type and terms
Offers cannot be submitted without a pre-approval letter.
Once pre-approved, we can begin scheduling property showings.
First-time buyers: Broward County offers programs with up to $80,000 in down payment and/or closing cost assistance.
2. Viewing Homes & Submitting Offers
You’ll receive a Buyer Broker Agreement electronically—this legally hires me as your Realtor.
Offers are prepared and sent via electronic signature.
Before submitting any offer, I provide a comparable sales report so you know the true market value.
Know some of your out-of-pocket costs:
- Down payment: 3%–5% (varies by loan)
- Closing costs: 4%–6% of purchase price
- Inspection: $350–$850 (Additional specific inspections, such as for mold or the roof may be required)
- Appraisal: $550–$750
- HOA/Condo application: $100–$150 per person
3. After Your Offer Is Accepted
Hire a licensed home inspector for a full property condition report.
Buyers usually have up to 15 days to inspect and cancel if major defects are found.
Submit all required documents to your lender within 5 days for final loan approval.
Title company will begin processing and notify you of any title issues.
If the property has an association, submit the full application within 5–7 days.
4. The Appraisal
Ordered by the lender within 5–10 days of contract execution.
Some lenders require appraisal payment upfront; others add it to closing costs.
If the home appraises lower than the contract price, options include:
- Seller reduces the price
- Buyer pays the difference
- Contract is cancelled
5. Order Your Homeowner’s Insurance
Start shopping for insurance right after the inspection period ends.
Many insurers have left the South Florida market, so rates may be higher and options limited.
Your lender will require an active policy before closing.
6. Stay Compliant With All Lender Requirements
Lenders may request updated bank statements, letters of explanation, tax documents, etc.
Avoid these common mistakes before closing:
- No large purchases
- Do not apply for new credit or loans
- Do not switch jobs without notifying your lender
Your escrow deposit may be at risk if:
- If you try to cancel after the inspection period
- You fail to provide required lender/HOA documents
- Your lender cannot fund the loan and did not provide necessary updates during the loan commitment period
7. Final Walk-Through
Conducted within 24 hours of closing.
Verify the home is in the same condition as when you made the offer.
If issues are found, negotiate repairs or credits before signing closing documents.
8. Closing Day
Do not open new credit accounts or make large purchases before closing.
Wire your closing funds the day before or morning of closing (always verify bank details by phone).
At closing:
- Deed and mortgage documents are signed
- Lender funds the loan
- County records the new deed
Once complete, the home is officially yours—change the locks immediately.
Closing costs typically range 4%–6%.
Seller usually pays commissions; if not, the buyer may need to cover the difference.
There are other items that may come up during the purchase process such as liens, code violations or special assesments and they have to be resolved prior to closing, in most cases by the seller.
If you have questions about any part of the Broward County home-buying process, I’m here to help guide you every step of the way.
Marlon Beckford, Realtor®, SRS, ABR, RENE
Licensed Real Estate Agent – Broward County, FL
United Realty Group
Phone: 954-200-1936
Email: Marlontheagent@Gmail.com
Website: www.SellingBrowardCounty.com