You’ve found the condo or house you want on the beach. Now comes the offer, and price is only one part of it. The terms around the price decide how protected you are and how attractive your offer looks to the seller. Here is how we walk buyers through a Florida offer.
Key takeaways
- Most Pinellas sales use standard Florida contract forms, with an “AS IS” version common for resales.
- The escrow deposit, inspection period, financing terms and closing date all matter as much as price.
- Condo purchases add an association document review and sometimes association approval.
- Every date in the contract is a deadline. Put them in your calendar the day you sign.
The parts of an offer
| Term | What it does | What to think about |
|---|---|---|
| Purchase price | What you’ll pay | Base it on recent recorded sales, not asking prices |
| Escrow deposit | Shows good faith, held by a title company or attorney | A larger deposit can strengthen your offer |
| Inspection period | Time to inspect and, under an AS IS contract, cancel | Long enough to book inspectors and get insurance quotes |
| Financing | Loan type, amount and approval deadline | Condo loans need extra time for the building review |
| Closing date | When ownership transfers | Match it to your lender and the seller’s plans |
| Association items | Document review and any approval | Rental rules and reserves can change your mind |
AS IS does not mean no inspection
Under the AS IS form, the seller isn’t agreeing to make repairs, but you still get an inspection period. If the inspections turn up something you can’t live with, you can usually cancel within that period and get your deposit back, following the contract’s notice rules. Many buyers then negotiate a price change instead of cancelling.
Inspections to book on the coast
- A general home inspection by a Florida licensed inspector.
- A wind mitigation report and, for older homes, a four-point inspection, which many insurers ask for.
- A wood-destroying organism inspection.
- For waterfront homes, a look at the seawall and dock. Our buying waterfront guide covers what to ask.
- Insurance quotes, including flood, before the inspection period ends.
Making your offer stand out
- Proof of funds or a pre-approval from a lender who knows Florida condos.
- Clean, realistic dates. A short but workable inspection period shows you’re serious.
- Flexibility on closing if the seller needs time.
- A clear deposit schedule. Pay on time, because a late deposit can put you in default.
Our tip: Ask your agent for the sales of similar units in the same building over the last year. Our condo building guides list recorded sales by building.
What this means for you
A strong offer is fair on price and clear on terms. Read our buyer’s guide for the full process, our condo financing guide if you’re borrowing, and the closing cost calculator to plan cash to close.
Please note: Laws, tax rules and insurance terms change, so check the details for your situation with a licensed professional, such as a Florida real estate attorney, insurance agent or tax adviser, before you act.
Ready to write an offer? Contact us and we’ll pull the recorded sales first.
Sources
- Florida Realtors, publisher of the Florida Realtors/Florida Bar residential contract forms.
- Florida DBPR, license search, including home inspector licenses.
- Florida Office of Insurance Regulation, wind mitigation resources, wind mitigation form.