It is a great time to buy a South Florida home! No matter if you are considering purchasing your first property or re-entering the real estate market, the home buying process can be tricky. As a result, it is imperative to work with an expert real estate team to help guide you throughout the entire buying process. Our team will help you first find the best mortgage without stress and to then locate the ideal home that matches your purchasing criteria. We will also negotiate the best price and terms and hold your hand until you close on your new home.
Getting Pre-Approved For A Mortgage:
The buying process can be very exciting, as many clients want to get out and start seeing homes for sale. But, before starting to look for a home, it is essential to first speak with a local mortgage professional in order to see how much money you can afford to spend. A mortgage lender will also be able to answer all of your financing questions and concerns. It is important to know what your monthly housing fees will be including your property taxes and homeowner’s insurance. Your credit score will also need to be pulled in order to determine your interest rate and loan program. A mortgage professional will also review all of your personal documents including your bank statements, pay stubs, tax returns, and other assets in order to determine your debt to ratio income. We assure all of our clients that they will feel more comfortable after knowing exactly what type of home they qualify for and to have all financing questions and concerns before actively searching for a home. Please visit our Mortgage Financing page to get started.
Find Your Home:
After receiving a pre-approval letter from your mortgage profession, it is time to start looking for your dream home! But, before looking for available homes, it is important that we meet with you in order to understand your exact purchasing criteria for you and your family. Please visit our Dream Home Finder page to fill our some information in order for our team to learn more about your purchasing needs. When buying a home, it is necessary to first know what potential cities you want to live in, then the best neighborhoods in the cities, and then finally the type of home that you require. Some clients find a great looking home, but in the wrong city or neighborhood. We will also sit down with you and ask the necessary questions in order to only pinpoint homes which match your purchasing criteria and not waist your time. Our team’s extensive real estate online tools allow for us to help provide our clients with homes that immediately become available for sale. As a result, you will be able to be one of buyers to gain access to a new home listing that just came available for sale. Please visit our Search MLS Live to see the most up-to-date available homes for sale now.
Submit Your Offer:
Now that you have found the ideal home, it is time to submit your formal offer to the sellers. Remember, you are now fully qualified to purchase the home, and your mortgage lender or broker has provided you with a pre-approval letter, which will be included in your offer to show the sellers that you are 100% pre-approved for a mortgage. With an increase in buyer activity in today’s market, it is also important to include a personal letter introducing yourself, and your family, to the sellers. As a result, your offer becomes humanizes, as the sellers and the listing agents know a little more about your family and are not just looking at a contract with price and terms. Most sellers are personally attached to their homes and want to feel comfortable turning their keys over to buyers that are going to appreciate their home after closing. As your real estate consultants, we will also show you all of the available, under contract, and sold homes within the past 6 months in the community or area where the home listing is located and help you prepare and present your offer in order to help negotiate the lowest price and best terms for you. We will also recommend the best real estate attorneys to help represent you during the buying process. It is essential to work with an actual seasoned real estate attorney who knows the local real estate market and will make sure to answer any and all contractual questions or concerns and make sure that there are no liens, open permits, or judgements against the property. You will be provided with clear and marketable title to the home that you are buying from your real estate attorney.
Your Home Inspection:
After securing a purchase agreement on your home, it now comes time to have a professional home inspection done. Most purchase contracts are written on As-Is contracts. Typically, your inspection period is 7-10 days from As a result, it is vital to have your home professionally inspected for any defects or issues. A licensed home inspector will check the roof, air conditioning, water heater, all appliances, pool, and more during the inspection. It is pivotal to make sure that there are no major functional defects at the home. Depending on the size of the house, the home inspection may cost between $350 to $600. This is a buyer’s expense, but probably is the best money that you will spend in order to make sure that your home is in good condition and to identify any problems during your inspection period. A member of our team will also attend the home inspection in order to be there to identify any repairs that will need to be negotiated for the sellers to fix.
After you inspect your home, your home mortgage consultant will order the appraisal. A Florida licensed appraiser will come to the home and take photos and measurements. He/she will pull the various comparable sales in the neighborhood and surrounding communities and provide a professional formal opinion of value for the home. If the home does not appraise for the agreed upon sales price, our team will have to renegotiate the sales price on your behalf. A bank, or lending institution, will only give you a loan for the amount that the home appraises for. As a result, it is important to work with an expert real estate team that will analyze the current market statistics before you submit your offer to prevent appraisal issues from occurring. Your lender will need the home appraisal along with other personal documentation in order to provide you with a mortgage loan commitment for the upcoming closing.
In order to receive a loan from the bank, your lender will require you to secure homeowner’s insurance. Home insurance typically covers costs to repair any damage to your home during your home ownership. It is important to speak with a local insurance agent that will provide you with an accurate quote based on the home’s age and location. It is also essential to have a wind mitigation report done during your inspection period. This mitigation report will be used to help lower your homeowner’s insurance. As a result, make sure to notify your home inspector also provide you with a mitigation report. The mitigation report could save you thousands of dollars on your insurance. Our team can recommend you our list of approved insurance companies for you to receive insurance estimates from.
Closing On Your Home:
Before the closing date, you will receive a preliminary HUD statement which your lender and real estate attorney will go over your fees for the loan and purchase. You will also be able to perform a full walk-through on your new home in order to make sure that all potential repairs have been made and that the home is in the same condition when you purchased and inspected it. Your real estate attorney will receive your full loan package from your lender and put together all of the closing documents that you will sign at the closing. After you have signed all of the necessary paperwork, you will receive the keys to your dream home. Our team will also help assist you in making sure that you have your power and water turned on at your home. We will also assist you in applying for your homestead exemption that will help you save money on your property taxes.
Our team’s goal is to exceed your real estate expectations and provide and to guide you throughout the purchasing process. Please give us a call at: 954-609-0591 or contact us now.