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THE BUYERS GUIDE

YOUR GUIDE TO THE HOME BUYING PROCESS

Thejourneytoacquiringahomeshouldfeelexciting notoverwhelming.

Formany,purchasingasecondhomeorinvestmentpropertyisamongthemost significantfinancialdecisionsoftheirlifetime.Naturally,youwanttoapproachit withconfidence,clarity,andexpertguidance.

WithusandOceanSotheby’sInternationalRealtybyyourside,you’llhaveateam thatunderstandstheintricaciesofhigh-endrealestateandiscommittedtomaking yourexperienceseamless,informed,andenjoyablefromstarttofinish.

Whetheryou’readdingtoyourinvestmentportfolioorsecuringyourdreamretreat intheFloridaKeys,thisguideoffersvaluableinsightstohelpyounavigatethe home-buyingprocesswithease.

Weinviteyoutoreachoutforaprivateconsultation we’dbehonoredtoassistyou infindingthepropertythatperfectlyalignswithyourlifestyleandinvestmentgoals.

WHAT YOU NEED TO KNOW WHEN BUYING

IN THE FL KEYS

IfIwerebuyingahomeintheFloridaKeys,herearethethingsIwouldliketoknowtohelpmakean informeddecision–

Dockage –

Depths,canalwidths,andaccessvary;notallwaterfrontpropertiesarethesame,especiallyforlarger vessels.Ifyou’reaboater,ourwaterfrontexpertisewillcomeinhandy.

Zoning for Rentals –

InMonroeCountyandtheVillageofIslamorada,mostpropertiesaresubjecttoa28-dayminimum rentalrequirement.However,certaincommunitiesandzoningdistrictswithintheVillagedopermit short-termrentals,providedtheproperlicensingisobtained.

Insurance –

Foranyhomefinancedwithamortgage,insuranceisanecessity coveringbothfloodand windstormprotection.IntheFloridaKeys,CitizensInsuranceistheexclusiveproviderofwindstorm policies,anditnowrequireseverypolicyholdertoalsocarryfloodinsurance,regardlessoftheir designatedfloodzone.ThethreeprimaryzonesareAE,VE,andX,eachwithitsownimplicationsfor coverageandrisk.

Asyourdedicatedrealestateadvisor,Ihelpyounavigatethesecomplexitiesfromtheverystart, ensuringyouhaveabsoluteclarityandconfidencewhenitcomestosafeguardingyourinvestment.

Downstairs Enclosures –

IntheFloridaKeys,manyresidencesarethoughtfullydesignedonconcretestilts,allowingforelegant coveredparking,securestorage,orevenadditionallivingspace.Yet,noteverylower-levelenclosure isconsideredlegalorinsurable.Someareclassifiedas“legalnon-conforming,”anddiscerningthe differenceisessentialwhenevaluatingaproperty’struevalue.

Asyourtrustedrealestateadvisor,Iconductathoroughreviewoftheproperty’spermithistoryand appraisertaxrollrecords,ensuringyouhavecompleteclarityandconfidencebeforemakingyour investment.

Home Inspections –

Westronglyrecommendacomprehensivehomeinspectionduringtheduediligenceperiod.Inthe FloridaKeys,thesaltairandhumiditycancreateuniqueconditionsthatwarrantcarefulattention suchasconcretespalling.Equallyimportantarestructuralelementslikedocks,seawalls,roofs,and windows,whichplayasignificantroleinbothvalueandlongevity.

Throughourtrustednetwork,weconnectyouwithseasonedlocalinspectorswhounderstandthe nuancesofKeysproperties,ensuringeverydetailiscarefullyevaluatedbeforeyoumoveforwardwith confidence.

OUR CONCIERGE PROCESS

STEP 1

Discovery Call

Fromlenders,insurance, andinspectors,torepairs, weconnectyouwithtrusted localexperts.

STEP 3

Tour Properties

Usemarketdatato determineanofferpriceand terms.

STEP 5

Contract Accepted

Makesurethepropertyisin goodconditionandworth thepriceoffered.

STEP 7

Go to Closing

Wemeet(in-person,virtually,orby phone)toexploreyouridealsKeys lifestyleandpropertygoals.

STEP 2 Get Preapproved

Investigatelocalhomesto findtheoneofyour dreams.Virtualshowings available!

STEP 4

Submit an Offer

Negotiatetermstothe satisfactionofbothparties. Wemanageallpaperwork andtimelinestokeepyou informedandconfident

STEP 6

Inspection & Appraisal

Signthefinalpaperwork andgetthekeystoyour newhome!

REASONS TO BUY IN THE FL KEYS

UniqueTropicalLifestyle&Year-RoundClimate

TheFloridaKeysofferadistinctiveislandlifestylewithwarmtemperatures, oceanbreezes,andminimalseasonalvariation.UnlikemainlandFlorida,the Keysmaintainamoreconsistenttropicalclimatewithtemperaturesrarely droppingbelow60°Finwinterorexceedingthelow90sinsummer.Thisallows foryear-roundoutdooractivitieslikeboating,fishing,snorkeling,andbeachgoing.Thelaid-back,"islandtime"atmosphereattractsthoseseekingtoescape thefast-pacedmainlandlifestyle

TheKeysaresurroundedbysomeoftheworld'smostproductivefishingwaters, includingtheGulfofMexico,AtlanticOcean,andFloridaBay.Homeownershaveaccess tolegendaryfishingfortarpon,bonefish,permit,sailfish,mahi-mahi,andmanyother species.Theshallowflatsareperfectforflyfishing,whiledeeperwatersofferexcellent offshorefishingopportunities.Beyondfishing,thecrystal-clearwatersprovide exceptionaldiving,snorkeling,andboatingconditions,witheasyaccesstocoralreefs, shipwrecks,andtheonlylivingcoralbarrierreefinthecontinentalUnitedStates. Islamoradaspecificallyholdsthecovetedtitleof"SportFishingCapitaloftheWorld," makingittheultimatedestinationforseriousanglersandfishingenthusiasts.Unlike otherareasoftheKeys,Islamoradasitsperfectlypositionedbetweentheshallow backcountryflatsofFloridaBayandthedeepbluewatersoftheAtlantic,providing unparalleledaccesstodiversefishingenvironmentswithinminutesofeachdock.The villageishometonumerousworld-recordcatchesandhostsprestigioustournaments liketheIslamoradaSailfishTournamentandvarioustarponcompetitions.Thisfishing paradiseattractshomebuyerswhoarepassionateanglersseekingtolivewherethey canstepofftheirdockandaccesssomeofthemostproductivefishingwatersinthe world.Thecommunityitselfrevolvesaroundthisfishingculture,withtop-tiermarinas, expertchartercaptains,renownedtackleshops,andanetworkoffellowfishing enthusiasts.Formanybuyers,owningahomeinIslamoradameansjoininganelite fishingcommunitywhereworld-classanglingisn'tjustahobby it'sawayoflife accessibleeverysingleday.

REASONS TO BUY IN THE FL KEYS

InvestmentPotentialandRentalIncome Opportunities

RealestateintheFloridaKeyshashistoricallyshownstrongappreciationdue tolimitedlandavailabilityandhighdemand.Therestrictiononnew developmentthroughtheRateofGrowthOrdinance(ROGO)inMonroeCounty &theBuildingPermitAllocationSystem(BPAS)inIslamoradakeepssupply constrained,supportingpropertyvalues.Manyhomeownerscapitalizeonthe strongvacationrentalmarket,particularlyinKeyWestandIslamorada,where touristspaypremiumratesforwaterfrontpropertiesanduniqueisland experiences.Short-termrentalpropertiescangeneratesubstantialincome duringpeakseasons,helpingoffsetownershipcostsandpotentiallyproviding significantreturns.Therearespecificareasthatallowshort-termrentals,but mostareasrequireaminimumofonemonth.

Exclusive&LimitedRealEstateMarket

Character

TheKeysofferthebestofbothworlds:genuineislandlivingwithreasonable accesstomajormetropolitanareas.Islamoradaisonlya1.5-hourdrivefrom Miamiandabout2.5hoursfromFortLauderdale,makingitaccessiblefor weekendgetawaysormaintainingbusinessconnections.Thisproximityallows residentstoenjoyurbanamenitieswhendesiredwhilelivinginatropical paradise.Additionally,KeyWestInternationalAirportprovidescommercial flightstomajorcities.

BUYER REPRESENTATION BENEFITS

Everyhomepurchaseisauniqueandcomplexprocess,whichiswhy89%ofbuyerslast yeartrustedabuyer’sagentorbrokertoguidethem.*

Hereare10advantagestohavingprofessional,localbuyerrepresentationinyournext homepurchase:

1.MarketExpertise:We’reonthepulseoflocalmarketdynamics,frompricingtrendsto desirableneighborhoods,tohelpyoufindyourperfecthome.

2.PersonalizedStrategy:Wedivedeeptotrulyunderstandyourrealestategoalsand craftaspecializedapproachtomeetyourneedsandtimeline.

3.PropertyExclusives:Ourexpansivenetworkofprofessionalsandoff-marketlistings opensdoorstouniqueopportunitiesthatgobeyondwhatyou’llfindonline.

4.NegotiationSkills:Weprepareandpresentstrategicoffersusingadvancednegotiation strategiesthatsecurethebesttermsandsalespriceforyou.

5.RiskReduction:Wehelpyouavoidcostlymistakesbynavigatingthemazeof complicatedcontracts,disclosures,reports,andcontingencies.

6.StreamlinedExperience:Behindthescenes,weareawhirlwindofactivity,handlingall theextensiveresearch,coordination,andpaperwork.

7.IndustryConnections:Ournetworkofprofessionals,frommortgagebrokersto inspectors,worksasateamtooptimizeeverystepofyourhomebuyingjourney.

8.UnderContract:timelines,inspections,andvendors.

9.DedicatedAdvocacy:Wearecommittedtoprotectingyourinterestsandprioritizing yoursuccessthroughoutyourentirebuyingexperience.

10.After-SaleAdvice:We’llstayyourresourceforupdatesonmarkettrends,tipsfor homeimprovements,andmoreadvicetomaximizeyourinvestment.Alongwithlocal recommendationsforvendors,etc.

*NAR2023ProfileofHomeBuyersandSellers

CONSUMER GUIDE: WHY AM I BEING ASKED TO SIGN A WRITTEN BUYER AGREEMENT?

If you’re a homebuyer working with an agent who is a REALTOR®, it means you are working with a professional ethically obligated to work in your best interest As of August 17, 2024, you will be asked to sign a written buyer agreement after you’ve chosen the professional you want to work with. Here’s what you should know about these agreements:

What is a “written buyer agreement?”What does it do? A written buyer agreement is an agreement between you and your real estate professional outlining the services your real estate professional will provide you and what they will be paid for those services

Why am I being asked to sign an agreement? Written buyer agreements became a nationwide requirement for many real estate professionals as a part of the National Association of REALTORS®’ proposed settlement of litigation related to broker commissions The requirement went into effect on August 17, 2024

Are these agreements new? In some places, yes. Many states have required them for years, while some have not. As a result, it is entirely possible you or others you know have not used them in the recent past Regardless, they are now a nationwide requirement for many real estate professionals

Are these agreements negotiable? Yes! You should feel empowered to negotiate any aspect of the agreement with your real estate professional, such as the services you want to receive, the length of the agreement, and the compensation, if any. Compensation between you and your real estate professional is negotiable and not set by law In the written agreement, the compensation must be clearly defined (e g ,$0, Xflatfee, Xpercent, Xhourlyrate) and not open-ended or a range. Only sign an agreement that reflects what you have agreed to with your real estate professional.

How do I benefit from these agreements? These agreements clearly lay out what services you (as a homebuyer)expect your real estate professional to provide, and what your real estate professional will be paid. These agreements make things clear and reduce any potential confusion at the outset of your relationship with your real estate professional.

When do I need to sign an agreement? You will be asked to enter into a written buyer agreement with your real estate professional before “touring” a home with them, either in-person or virtually.Ifyouaresimplyvisitinganopenhouseonyourownoraskingarealestate professional about their services, you do not need to sign a written buyer agreement.

Does this mean I have to pay my real estate professional out of pocket? Not necessarily While you are responsible for paying your real estate professional as outlined by your agreement, you can still request, negotiate for, and receive compensation for your real estate professional from the seller or their agent.

Do agreements dictate a specific type of relationship I need to have with my real estate professional? No you are allowed to enter into any type of business relationship with your real estate professional allowed by state law where you live.

Can I change or exit an agreement? Yes You and your real estate professional can mutually agree to change your agreement. Agreements may have specific conditions under which they can be exited, so read the text of the agreement and speak with your real estate professional if you would like to change or exit your agreement.

Practices may vary based on state and local law. Consult your real estate professional and/or consult an attorney for details about state law where you are purchasing a home. Please visit facts.realtor for more information and resources.

NEXT STEPS

Intoday’shighlycompetitiverealestatemarket,oneofthegreatestadvantagesyoucan giveyourselfisworkingwithaskilledandtrustworthyprofessionalwhohasyourbest interestsathearteverystepoftheway.

AsadedicatedteamofhomesalesexpertsinIslamoradaandtheFloridaKeys,we bringtheexperience,marketknowledge,andconfidenceneededtoguideyour transactionseamlessly navigatingeverynuancealongtheway.Butdon’tjusttake ourwordforit here’swhatsomeofourpastclientshavesharedabouttheir experienceworkingwithus:

Ourexperienceworking withEric(andhis delightfulcolleague Taylor)waswonderful fromwonderfulstartto finish!Theirextensive localknowledgeand attentiontodetailwere keyinhelpingusfinda Keyspropertythattruly checkedalltheboxes

EricandTaylorhelpedin somanywaysto purchaseourownlittle sliceofparadisein Islamorada Ericreally knowshiswayaroundthe areaandhasnumerous contacts.Taylorwas promptandprofessional inshowingushomesas wellasrespondingto manyofouremailsand questions.Westrongly recommendthisteam.

Ifyou’reconsideringapurchaseintoday’smarket,weinviteyoutoconnectwithus directly.Yournextstepistoscheduleacall,sowecanlearnmoreaboutyourgoalsand sharehowourtailored,conciergeapproachconsistentlyhelpsourclientssecure exceptionalpropertiesintheFloridaKeys.