Tim Cranch wearing blue shirt

Tim Cranch

Ellie Penaranda

Naples, Florida – Letter to a Buyer

693 Coral Dr - Lighted Entry photo GetMedia.ashx gallery - fl houses res

Allow me to share with you a letter to a buyer client that needed a little extra guidance to make it happen for himself. Purchasing a home, an investment property or a vacation spot is a major commitment and financial obligation for anyone at any price point. Our real estate market in Naples, Florida is trending upwards and the Law of Supply and Demand is a real and present influence. There are numerous local factors which make buying a property in our area different and more intricate than the typical transaction up north. The names and places in the letter below have been deleted to protect identity but, the letter is real and the messages are clear. 

Dear _______,

As you are a client with a signed buyer agreement, you are a priority and it is my responsibility to make sure that you are well informed and “educated” regarding Naples real estate. Let me write down a few bullet points so that you are best prepared when the time is right for you to make a purchase:
  • The home that you were shown at #___ on ___ Avenue is now under contract. We will not know the final sales price until it actually closes. Honestly, I am surprised that it stayed on the market for that long at that price – I think some people struggled with the proximity to Route 41 but didn’t put enough value on the size of the lot and future appreciation for such a piece of property.
  • There is a quote, “The market is the market.” Basically, none of us control what happens nor what other people (other buyers or the sellers) are going to do. If you wait to see what happens, then certainly something WILL happen and you will not have taken action to make it happen for yourself.
  • In the case of that particular house on ___ Avenue, it doesn’t matter what the owner paid for it, it doesn’t matter what he spent to improve it, it doesn’t matter what you want to do with it, it doesn’t matter if you want a tub instead of a shower………you get the idea. Refer back to “The market is the market.”
  • There will be no perfect house…….at any price you ultimately pay. You do the best that you can within your budget and get as many of your priority items as possible. During the 15 day inspection period, you are allowed to bring in as many contractors and estimators as you would like to get a handle on any changes or improvements you desire. Prior to writing a contract on a property, you could certainly check with some local contractors and vendors to get ballpark estimates to, as an example, remodel a bathroom and install a tub.
  • The size of the lots in this neighborhood is typically very standard. There are exceptions such as corner lots, the rare combination of multiple lots that someone combined long ago or oversized lots. Of all the sites in the neighborhood, more than 90% of them are a uniform size. I mention this to you because you said the property on which the new construction home is built “is too small”. If that is the case and you stick to that rule for yourself, then it is highly unlikely that any property will ever be satisfactory for you as the vast majority are the same size.
  • Lastly, and very importantly, is your loan. You should know that, in our Naples area, more than 75% of all real estate transactions (in all price ranges) are cash deals. This puts tremendous pressure on any buyers who are getting a loan to be well prepared and to be able to show the seller and the listing agent that they are already well into the loan process. I would caution you that a written contract that is not Image 2accompanied by a pre-approval letter from a lender to show that you are qualified would most likely be rejected outright and not considered for a response until you are ready. That is standard practice in our area and I can tell you that when we represent sellers, all offers must be accompanied by a letter from a lender. In fact, many sellers will reject contracts that have loans without any consideration whatsoever. Hence, take some advice from someone who knows the local customs and practices – make application for a mortgage loan. You don’t need to know which property you might buy, you don’t need to have written a contract and you don’t need to make more than one request. The process involves filling out an application and supplying financial information to find out your buying power. We are happy to recommend a local lender with whom our buyer clients have had great success. “Local” is a key word here to get the job done smoothly without unnecessary surprises.
  • It is good to analyze and be cautious to avoid making a mistake. The preparation and “education” is for a reason…….to make it happen for yourself. Don’t make the process more complicated than it needs to be. Don’t wait too long as you analyze and prepare and get educated – the market is not going to wait for you. Refer back to “The market is the market.”

I am here for you. I am listening carefully. I am ready to share my local knowledge and experience with you. I am at your service to negotiate the best deal possible for any given property. I am going to advise you responsibly and make absolutely certain that you do not make a mistake. All the best, Tim

As full time real estate professionals, we represent both buyers and sellers in the Naples. If you are a seller, we market your home to local, national and international buyers for the best results. If you are a buyer, we listen well and will find your own “Piece of Paradise” at the best negotiated price and terms.

Tim Cranch at 239-272-4848      or      Ellie Penaranda at 239-776-4848

TimCranch@StepsToTheBeach.com              Ellie@StepsToTheBeach.com


1 thought on “Naples, Florida – Letter to a Buyer”

Comments are closed.