Buyer's guide
Sarasota Home Buyer's Guide
How buying a home around Sarasota works, from pre-approval to the keys, and what's different on Florida's Gulf Coast.
Moving to Sarasota ›Buying new construction ›Investment properties ›
The 7 steps.
Step 1: Check your budget and get pre-approved
Talk to a lender about the loan types and your monthly payment, including taxes, insurance and any HOA fees. A pre-approval letter shows sellers you can buy.
Step 2: Choose your agent
Pick an agent who knows the areas you like and answers quickly. You'll sign a buyer agreement before touring that says what the agent does and how they are paid.
Step 4: Make an offer
Your agent pulls comparable sales so the price is based on what similar homes sold for. The offer sets the price, deposit, financing, inspection period and closing date.
Step 5: Inspections and insurance
During the inspection period, inspect the home, read HOA or condo documents, check the flood zone and get insurance quotes. If something comes up, you can ask for repairs or a credit, or cancel within the period.
Step 6: Appraisal and loan approval
The lender orders an appraisal and finishes the loan. You keep your finances steady until closing: no new debt or big purchases.
Step 7: Close and move in
Do a final walk-through, sign at the title company and get the keys. If it's your primary home, apply for the homestead exemption by March 1 of the next year.
What's different here.
Flood zones and insurance
Many homes near the water are in a flood zone, and lenders may require flood insurance. Get flood and homeowners quotes during the inspection period; they can change the monthly cost a lot.Condo building rules
Florida requires inspections and reserve studies for older condo buildings of three or more stories. Ask for the latest reports, the budget and any planned special assessments before you buy.Homestead exemption
For a primary home, the homestead exemption lowers the taxable value and limits yearly increases. Apply with the county property appraiser by March 1 after you buy.Seasons
Winter and spring are the busiest months, when seasonal residents are here. Summer and fall often have less competition.HOA and CDD fees
Many communities charge HOA fees, and some newer ones add a CDD fee on the tax bill. Check both, and what they cover, before you offer.Hurricane protection
Roof age, impact windows or shutters and the wind mitigation report affect insurance prices. Ask for them early.
Ways to pay.
A lender can tell you which ones fit you and the current terms.
Conventional
The most common loan, from banks and mortgage lenders.FHA
Government-insured; a lower down payment and more flexible credit rules.VA
For eligible veterans and service members.USDA
For eligible homes in rural areas.Florida Housing
State programs for first-time buyers, including down payment help. floridahousing.org ↗
Closing costs.
Buyers usually pay for the loan (lender fees, appraisal, credit report), title insurance and settlement, government recording fees and taxes on the mortgage, prepaid interest, and the first homeowners insurance and property tax payments. With a loan, you get a Loan Estimate with your real numbers within three business days of applying, and a Closing Disclosure before closing.
Who pays what can be negotiated in the contract, for example a seller credit toward closing costs.
Home buying questions.
How much do I need for a down payment in Sarasota?
It depends on the loan. Conventional, FHA, VA and USDA loans each have their own minimum, and some first-time buyer programs help with the down payment. A lender can tell you the minimum for your situation; a bigger down payment usually means a lower monthly payment.
What are typical closing costs in Sarasota?
Buyers usually pay for the loan (lender fees, appraisal), title insurance and settlement, recording fees, prepaid interest, and the first insurance and tax payments. Within three business days of applying, your lender sends a Loan Estimate with your actual numbers.
How long does the home buying process take in Sarasota?
From accepted offer to closing usually takes a few weeks with a loan and less with cash. The contract sets the dates for inspections, financing and closing. Finding the right home first can take days or months.
Should I get pre-approved before house hunting?
Yes, if you plan to use a loan. A pre-approval letter tells you what you can spend and shows sellers you can close. Many sellers want one with the offer.
What is the best time to buy a home in Sarasota?
Winter and spring are busier, when seasonal residents are in town. Summer and fall often have less competition. The best time is when the right home is available and the numbers work for you.
Do I need a REALTOR® to buy a home in Sarasota?
It is not required, but an agent arranges showings, pulls comparable sales, writes and negotiates the offer and keeps the deadlines. Since 2024, buyers sign a written agreement with their agent before touring; it says what the agent is paid and by whom.
What are the property taxes in Sarasota?
Taxes depend on the assessed value, the local tax rates and any community district (CDD) fees. A homestead exemption lowers the taxable value of a primary home. The county property appraiser and tax collector websites show the current tax for any home, and the new owner’s tax can differ from the seller’s.
What should I look for in a Sarasota home inspection?
Roof age and condition, air conditioning, water heater, plumbing, electrical panel, signs of water or moisture, windows and storm protection, and pool equipment if there is one. Insurers often ask for a 4-point and a wind mitigation inspection.
Ready to look at homes?
George can send you homes that match, set up showings and walk you through each step.