Profile picture for johnk352

Buying and relocating to central Florida

Once my home in PA that I am selling is under contract, am I in a good position to go to Florida and start house shopping?   In general, will sellers consider my offer seriously even though I have to close on my PA home first?  I know that closing the sale of my PA home first would be ideal but I would like to avoid temporary housing limbo if possible.  I am just wondering if it would be a waste of time going to Florida to house shop when my PA home is under contract with a qualified buyer but not yet closed.
  • March 21 2013 - Orlando
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Answers (10)

I agree with many of the other posts. The market that we are currently experiencing here is not beneficial to buyers that need to add a contingency with the sale of their home. Sellers are receiving multiple offers on their properties due to the severe lack of inventory in Central Florida and chances of your offer being accepted are slim (not out of the question, but slim).

Orlando is a very diverse city with many different neighborhoods and you should take the opportunity to decide which side of town you prefer. If you will be working here in Central Florida, you should consider traffic and your potential route to work when looking for homes as I-4 and the toll roads can get really congested.

My advice is to continue looking online for homes once you decide what area of town you prefer. Homes are not lasting long, so as someone else mentioned, do not expect any home that you see now to be available in another month. Also, you must get a pre-approval letter from your mortgage company before seeing any homes so that you can move quickly when you find the home of your dreams. Good luck and we can't wait to welcome you to sunny Orlando!
  • April 22 2013
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Profile picture for MaryKaley
Hello PA-soon-to-be-FL!

I'm in the Chicago area, but I own rentals in the Orlando area. My properties are long term rentals, but there are plenty of short-term rentals that you could consider. The short-term rental market is big there because of vacationers, so although it isn't ideal to have to move twice, it's very doable from an availability standpoint. Check out vacation rental websites. You can usually negotiate a deal for month-long or multi-month rentals.

As the market picks up in that area, sellers are going to be less likely to accept contingent offers, only because they won't HAVE to. 

As for it being a waste of tine to go to Florida? It's never a waste of time (I wish I were there right now). If you don't already know the area, you should find a fantastic Realtor who can help you learn the towns and the subdivisions. Do you want to live in a subdivision that allows short-term vacation rentals? A local Realtor can help point you in the right direction.

If you don't already have a Realtor in the area, let me know. I've used a few and can provide some candid recommendations.

Good luck!
  • March 27 2013
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I am a REALTOR with Keller Williams at the Waterford Lakes Office in East Orlando! ... This is an absolutely BEAUTIFUL area and I'd love to be able to help you look for a new home here :) ... Please call me when/if you decide to come down and we can meet if you like. My cell number is[Contact information deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines.]
If at all possible, PLEASE have a pre-approval letter from your lender! Otherwise, please call me so I can let you know what would be necessary for you bring before we can get started.
I look forward to hopefully hearing from you.
Best Wishes and Warm Regards from The Sunshine State!
  • March 27 2013
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Profile picture for Bill Eckler

Coming to Florida to become an informed buyer would never be a mistake. Buying "smart" is all about being informed and equipped with as much knowledge as possible.

The window for sellers grabbing onto purchase offers with contingencies based on the buyer's property selling probably has closed to the point of not making it a worthwhile endeavor.

You are probably right about this being a waste of time, however, when your PA home sells things will happen quickly...you should do everything possible to make yourself ready for this including visiting your target location in an effort to become familiar with the location, pricing, amenities, etc....but I wouldn't fall in love with anything beyond the area and what it has to offer.

Good luck,

Bill

  • March 27 2013
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Sellers are typically not happy with such contingencies but it depends on their flexiblilty. First you want to check with a Lender to make sure you qualify for a new property in Central Florida. Also, once your buyer have a loan commitment letter they are in good shape to close. If you can provide that to the new seller that would help them to accept your offer.
  • March 26 2013
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I'm in Pa and our market is not as brisk as Fl is right now.  I understand you are anxious and want to get out looking right away.

If you are not familiar with central Florida you do need to take a trip and acquaint yourself with the area.  Understand the pros and cons where you want to locate.

If you are going to be commuting learn about traffic issues in the area.  Anything along the I-4 corridor can be congested at different times of the day.

Once you have a contract on your home, get through inspections, and the buyer has a commitment you are in pretty good shape.  While not all sellers would want to take a contingency - being that far along you are only weeks away from closing on your PA home.

Find a Realtor who works in the area you want to live.  Let them help you explore your options.  They can refer you to local lenders with a good reputation.
  • March 21 2013
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Profile picture for Ofe Polack
Actually beforeyou start looking at properties anywhere, You should contact a few mortgage brokers and ask them for a pre-approval for the location where you want to be.  You do not say if you intend to pay cash, but unless you are paying cash, having a job is essential to the pre-approval.  Looking at properties on line, may be as good for now, unless you need to explore certain areas, specifically.  It is highly unlikely that a seller would accept an offer subject to your property selling, even though it may be under contract.  After you receive the Letter of Commitment, and you have been pre-approved then you can concentrate on finding a property.  the best of luck!
  • March 21 2013
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Profile picture for Coast to Coast
We certainly understand that selling out of state and relocating has its challenges.  It is very hard to give a definite answer to this question since each home sale and seller situation is different.  In general, making an offer on a home that is contingent upon the sale of another home can be very difficult to get the seller to approve in this market.  However, many sellers will consider such contingencies.  You should begin educating yourself on what is available and looking for opportunities.  We provide a great service to do that and would be happy to assist you. 
  • March 21 2013
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Hello,

The chances of a seller accepting an offer with a home sale contingency will be less likely now than in years past but I have had some accepted. It really boils down to how serious your buyer is for your home in PA and whether a seller here is motivated enough to accept your offer. Inventory here in Central Florida is very low right now so more than likely a seller would have other offers without the contingency. This of course means they are more likely to accept an offer they deem to be cleaner and with less contingencies which means less risk to them. 

I have another option in mind that you may not know about though. Here in the Disney area there are many communities which allow owners to rent their homes on short term rentals. This can be daily,weekly, or monthly. You can make the move and utilize a short term rental while doing your house hunting here. Let me know if you'd like more help. Just click on my picture to get in touch. Have a great day.

Nathan Tutas
  • March 21 2013
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In Central Florida, good properties sell quickly and sellers do not wait.

If you have a viable contract on your home and have gotten past the buyers home inspections and all things point to a closing, than you can start looking for a home and making the contract subject to the closing and funding of your property. 

If there are multiple offers on the property ( a common occurance) than you would be at a disadvantage over someone that is ready, willing and able without a contingency.

Sellers will take your offer seriously if you are just waiting to close...if however you are waiting to find a buyer for your house, than you need to wait a bit to start shopping.

Eve
  • March 21 2013
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