Investing in luxury condos in South Beach can make your financial portfolio increasingly more impressive. Additionally South Beach real estate is in one of America’s prime property buying areas. However, if you aren’t prepared to ask your Miami realtor the right questions, you can make dicey decisions on purchasing properties in one of Florida’s most popular cities.
Start by asking your realtor where they have the most experience with selling South Beach properties. Are they focused on ocean view condos, or are they more knowledgeable of sky rise apartments? As you begin viewing properties, ask your realtor how long the properties have been on the market as this can relate to the property’s sale ability. You should also ask what recent sales have been like in the neighborhood or the building. Once you’ve pinpointed a property that appeals to you, ask the Miami realtor if the property will come furnished, which is ideal for seasonal beach homes, or if you would need to do any renovations on the property in order to make it livable.
As you move from viewing properties to the purchasing process, ask the realtor if there are any Lis Pendens or liens on the property. Also, are you able to insure the home in question, or is that covered by the building or neighborhood fees? Finally, find out if you will need to incur any additional expenses with owning a particular property, such as annual condo maintenance fees or monthly security costs. If you would like to find out more information, contact us today!