Tips For Purchasing Real Estate In Destin, Florida

Are you considering purchasing a home, condominium or property in the Destin area? Our experienced team of real estate agents offers these simple tips when starting the buying cycle.

Here are 4 things you can do prior to searching for the perfect Destin real estate investment in order to close on your dream property faster:

Get Pre-qualified for a loan.

This may seem counterintuitive since you don’t know how much the home you wish to purchase will cost, but it’s important to know the amount and type of loan you qualify for first. In addition, we recommend using a local lender who is familiar with the Destin market. Next explore the different mortgage/loan types, current interest rates, and loan restrictions to determine which is best for you. If you are a cash buyer, skip this step.

Prepare the documents your lender will request.

It sounds easy enough but gathering the documents you need in advance will expedite the loan approval process and could put you in the driver's seat if you’re in a bidding war for the home of your dreams. Here are some of the documents you’ll need to provide the bank: W-2s for 2 years, pay stubs for 1-2 months, proof of any supplemental income, tax documents for the previous 2 years, bank statements for 2-3 months, investment account statements, copy of driver’s license and history of residence for previous 2 years.

Create a stable financial history.

Now is the time to make sure your credit history shines. Start by creating a monthly budget and demonstrate consistent income and expenditures and maintain good credit standing. Check your credit score report and ensure there are no surprises. Limit the number of times you pull this report, however, because each pull affects your credit score. Next, review your liquid assets to determine how much available cash you have for a down payment.

Build your property “wish list.”

Determine the type of housing you desire (single-family home, condominium, townhome, vacant lot, etc.). Next, determine your preferred location (Fort Walton Beach is very different than Santa Rosa Beach--know what you want in a community.) Build a “wish list” of property features. Once you know what you want, you can start exploring recent MLS listings and choose a professional Realtor® such as one of Newman-Dailey's licensed agents to assist you through the process of finding, negotiating, and closing on your perfect real estate investment to achieve your goals.

Learn more about Newman-Dailey's Real Estate Division, which ranks within the top 10% of real estate companies along the Emerald Coast according to the Emerald Coast Association of Realtors. 

Not ready to make a purchase, visit the coast by staying in a South Walton or Destin vacation rental home and condominium managed by Newman-Dailey. 

We look forward to providing a warm welcome whether you're visiting the coast or purchasing an investment property or your forever home. 

See you @ the beach!