I walk buyers through this process dozens of times a year, and the thing that surprises me most is how often smart, prepared people get blindsided — not by the big decisions, but by the Florida-specific details nobody warned them about. The 4-point inspection. The wind mitigation discount they didn't know existed. The homestead exemption deadline they missed because they didn't apply by March 1st.
This is the South Florida playbook, start to finish. Every step that matters.
How Long Does Buying in South Florida Actually Take?
Plan for 30–45 days from contract to closing with a conventional or FHA loan. Some lenders can get you to the table in 21 days if everything is clean. Cash buyers can close in 10–14 days. South Florida's current market is running 83–102 days of median time on market — buyers have more time than they did in 2021–2022, and they're using it to be more deliberate.
Step 1–3: Pre-Approval, Find an Agent, Define Your Search
Pre-approval comes before everything else. Not pre-qualification — pre-approval, where a lender reviews your income documents, credit report, and bank statements and issues a written letter. In South Florida, sellers won't take you seriously without it.
Use a lender who knows the Florida market specifically. Florida FHA loans require a 4-point inspection on homes 20+ years old, and lenders unfamiliar with this requirement can create delays. If you plan to use state down payment assistance through the Florida Housing Finance Corporation, you must use an FHFC-approved lender.
When selecting an agent, ask directly how many transactions they've closed in your target neighborhood and price range in the last 12 months. Local transaction volume is the only credential that matters. Define your search by neighborhood, not just price — there's a $200,000 price difference between Fort Lauderdale and Lauderhill for comparable square footage.
Step 4–6: Make an Offer, Negotiate, Go Under Contract
When you find a home you want, your agent will pull recent sold comparables — ideally within 0.25–1 mile, within the last 30–90 days, similar bedrooms, bathrooms, and square footage. This is your offer anchor.
Your offer should specify:
- Purchase price
- Financing terms and down payment amount
- Inspection period (standard in Florida is 10–15 days)
- Closing date
- Any seller concessions (closing cost credits, etc.)
Once the seller accepts, you're under contract and your inspection period begins immediately. Do not delay scheduling inspections — the clock is running from the moment you sign.
Step 7–9: Inspections — The Florida-Specific List You Cannot Skip
4-Point Inspection: Required by most insurance companies for homes 20 years old or older. Covers roof, electrical panel, HVAC, and plumbing. Costs $75–$175. Insurance companies use this to decide whether they'll insure the home at all.
Wind Mitigation Inspection: Evaluates hurricane resistance features — roof shape, roof-to-wall connections, opening protection. Costs $100–$175. This inspection can reduce your homeowner's insurance premium by 10–50% or more. Always get it.
Flood Zone Determination: Get this before you make an offer. Check FEMA's Flood Map Service Center at msc.fema.gov. Properties in AE or VE flood zones require separate flood insurance, running $900–$2,000+ per year.
For condos: Review the structural milestone inspection report. Request three years of HOA meeting minutes, the current budget, reserve study, and documentation of any pending special assessments.
Step 10–11: Insurance, Title, and the Closing Disclosure
Insurance: Get your insurance quotes during the inspection period, not after. Some lenders will not close if the buyer cannot secure adequate homeowner's insurance. South Florida average premiums run $4,200–$8,300/year for typical homes; coastal or older properties can hit $10,000+.
Title: In Florida, title insurance is state-regulated. Who pays matters and varies by county: in most Florida counties, the seller pays for the owner's title policy. In Miami-Dade and Collier counties, the buyer pays. You'll also pay an intangible tax on your new mortgage of 0.35% of the loan amount at closing. Budget for total closing costs of 2–5% of the purchase price.
About three business days before closing, you'll receive the Closing Disclosure — a detailed breakdown of every dollar changing hands. Review it line by line.
Step 12: Closing Day — What to Bring
Florida closings typically happen at the title company's office. You'll need:
- Government-issued photo ID (two forms preferred)
- Certified funds or wire transfer for your closing costs and remaining down payment
- Any outstanding documents your lender requested
After Closing: The Homestead Exemption Is Not Automatic
This is the one step people miss most often, and it costs them money for an entire year.
Florida's Homestead Exemption reduces your property's taxable value by up to $50,000. Combined, this saves Broward homeowners $800–$1,500+ per year. You must apply by March 1 of the year following your purchase. File Form DR-501 at the Broward County Property Appraiser (BCPA.net).
Homestead also activates the Save Our Homes cap — annual assessment increases are capped at 3% or the Consumer Price Index, whichever is lower. This becomes an incredibly powerful inflation hedge the longer you own the home.