Florida Home Buyer FAQ: What Should You Ask?

Questions to Ask Your Buyer‘s Agent

Your agent is your guide, negotiator, and local market expert. Before you start touring homes together, make sure you have clear answers to these four questions.

1. Are you representing me exclusively — or do you also represent sellers?

Florida law allows dual agency (where one agent or brokerage represents both buyer and seller), but it limits how fiercely your agent can advocate for you. Ask your agent upfront whether they work as a single agent with full fiduciary duty to you, or as a transaction broker, which is a more limited representation role. The distinction affects how openly they can advise you on price and negotiation strategy. At Mangrove Realty Associates Inc (License BK3241900), Michael Renick walks buyers through agency disclosure at the first meeting so you know exactly who is in your corner.

2. How do you get paid, and does the seller cover it?

Since the 2024 NAR settlement, buyer-agent compensation is no longer automatically baked into the listing. Sellers may offer a buyer concession to cover your agent’s fee — or they may not. Ask your agent to explain the written buyer-broker agreement before you sign it, including the fee amount and under what circumstances you’d pay it directly. In most Sarasota and Manatee transactions today, sellers still offer a concession, but it is now fully negotiable and disclosed in the contract.

3. What does the comparable sales data say about this price?

Never make an offer based solely on the list price. Ask your agent for a comparative market analysis (CMA) showing recent closed sales within the last 90 days, within a half-mile, for similar size and condition. In a market where some neighborhoods are seeing modest price reductions while others remain competitive, a CMA tells you whether you’re buying at, above, or below market value — and how aggressively you can negotiate.

4. What contingencies should I include given current market conditions?

The FAR/BAR contract gives buyers several protective contingencies: inspection period (typically 10–15 days), financing, appraisal, and HOA/condo document review. Ask your agent which contingencies are standard right now and whether waiving any of them is reasonable for the specific home and market conditions. In a slower-moving market, you generally have more room to include full protections. Your agent should tailor this advice to the listing — not give you a one-size-fits-all answer.

Questions to Ask Your Lender

Mortgage terms in 2026 remain consequential. With 30-year fixed rates hovering in the mid-6% to low-7% range, even a quarter-point difference affects your monthly payment by $50–$80 on a $400,000 loan. Ask these questions before you choose a lender or lock a rate.

5. What loan program fits my situation, and what are the real closing costs?

Conventional, FHA, VA, and USDA loans each carry different down payment requirements, mortgage insurance rules, and seller concession limits. Ask your lender to run the numbers on at least two loan types so you can compare total cost of ownership, not just the monthly payment. Then ask for a Loan Estimate (required within three business days of application) and walk through every fee line by line. Origination charges, discount points, and title fees can add $8,000–$15,000 to a typical Florida closing.

6. How long is my rate lock, and what happens if closing is delayed?

Rate locks are typically 30, 45, or 60 days. If your closing slips — due to inspection negotiations, title issues, or a slow seller — and your lock expires, you may face a higher rate or a lock-extension fee. Ask your lender what the extension policy is before you need it. Also confirm whether your loan has a float-down option that lets you capture a lower rate if rates drop before closing.

7. Are there any Florida-specific loan programs I might qualify for?

Florida Housing Finance Corporation offers first-time buyer programs including down payment assistance of up to $10,000 through the Florida Assist program, plus below-market rate mortgages for qualifying income levels. These programs have income and purchase price limits that vary by county. Ask your lender early — some programs require a specific approved lender and additional processing time, which affects your timeline.

Questions to Ask the Seller (Through Your Agent)

Florida law requires sellers to disclose all known material defects that affect the property’s value or desirability — this stems from the Johnson v. Davis standard established by Florida courts. But the seller disclosure form only captures what they know and choose to report. These questions help you go deeper.

8. Have there been any insurance claims on this property?

Ask the seller to provide a CLUE (Comprehensive Loss Underwriting Exchange) report, which shows claims history for the past seven years. A history of water intrusion, roof claims, or wind damage doesn’t automatically disqualify a property, but it affects what insurers will quote you — and some insurers won’t write a policy on a home with recent repeated claims. Florida’s insurance market remains tight in 2026, with average annual homeowners premiums in coastal counties running $4,000–$8,000 or more. Knowing the claims history before you’re under contract lets you shop coverage proactively.

9. Were all permits pulled for renovations and additions?

Unpermitted work is one of the most common deal-killers in Florida closings. If the seller added a room, enclosed a garage, updated electrical, or replaced a roof without pulling a permit, you may inherit that liability. Ask the seller directly and verify independently by searching the county property appraiser and building department records. Your agent can pull permit history online for most Florida counties in minutes. Unpermitted work must typically be disclosed, remediated, or negotiated into the price before closing.

10. Why are you selling, and is the timeline flexible?

This question sounds casual, but the answer shapes your entire negotiation. A seller relocating for a job needs a fast close and may accept a lower price for certainty. A seller who already purchased elsewhere is motivated by timeline and may be willing to cover closing costs or make repairs in exchange for a quick contract. A seller with no particular urgency may hold firm on price. There is no wrong answer — but knowing the seller’s real motivation helps your agent craft an offer that wins without overpaying.

Putting the 10 Questions Together

Working through a home purchase without asking these questions is like signing a contract you haven’t read. Each answer either confirms you’re on solid footing or surfaces something worth negotiating — before your inspection period closes and your deposit goes hard.

The buyers who consistently get the best outcomes in the Sarasota and Manatee markets are the ones who treat due diligence as a process, not a formality. That means asking their agent about representation and market data, pressing their lender on total cost and program options, and going beyond the standard seller disclosure to understand the property’s full history.

If you’re planning to buy in the Sarasota or Manatee area and want to work through these questions with an experienced local guide, Michael Renick at Mangrove Realty Associates Inc can walk you through every step — from the first showing to the closing table. Reach him at 941.400.8735 or Mike@teamrenick.com.

Mike and the team were responsive to all of our needs throughout the purchase process and in providing post sales support. Team Renick is a professional, thoughtful and caring organization. I recommend Mike and his team and would surely work with them again on other real estate needs.
— lorenzorad, Zillow

Eric was very helpful especially with the internet technical end of the purchase that I made. He did a thorough inventory of all of the condo items to be included in the purchase. He frequently followed up with my wife and myself to make sure that we were satisfied with our purchase. He has my total endorsement.
— bstapes9, Zillow

Frequently Asked Questions

What is dual agency in Florida, and how does it affect representation?

Florida law allows dual agency where one agent or brokerage represents both buyer and seller, but it limits how fiercely your agent can advocate for you. A single agent provides full fiduciary duty, while a transaction broker offers more limited representation. This distinction impacts how openly they advise on price and negotiation strategy. At Mangrove Realty Associates Inc, Michael Renick explains agency disclosure at the first meeting.

How has the 2024 NAR settlement changed buyer-agent compensation?

Buyer-agent compensation is no longer automatically included in the listing since the 2024 NAR settlement. Sellers may offer a concession to cover your agent’s fee, but it’s now fully negotiable and disclosed in the contract. Ask your agent to explain the written buyer-broker agreement, including the fee amount and when you’d pay it directly. In most Sarasota and Manatee transactions, sellers still offer concessions.

Why should you ask for a comparative market analysis (CMA)?

A CMA shows recent closed sales within the last 90 days, within a half-mile, for similar size and condition homes. It reveals if you’re buying at, above, or below market value in Sarasota and Manatee counties. Never base an offer solely on list price, especially with some neighborhoods seeing price reductions while others stay competitive. This data guides how aggressively you negotiate.

What Florida-specific loan programs are available for buyers?

Florida Housing Finance Corporation offers first-time buyer programs like Florida Assist with up to $10,000 down payment assistance and below-market rate mortgages. These have income and purchase price limits that vary by county, such as Sarasota and Manatee. Ask your lender early since some require specific approved lenders and extra processing time. This affects your purchase timeline.

About the Author

I’m Michael Renick — a Florida West Coast broker with over 15 years guiding families through some of the biggest decisions of their lives. I’ve built my practice on hard work, honesty, and total transparency. No shortcuts, no spin — just straight answers, deep market knowledge, and the dedication my clients deserve from start to close.

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