By: The Julie Ann Probst Team at Keller Williams Realty – Jupiter
What should I do first prior to looking for my new home?
- Get pre-approved through a lender or your financial institution prior to beginning your home buying search. You want to know what your budget is along with what your down payment and fees are to determine what type of home you can afford.
- Research and understand what your housing needs are as well as your family needs to determine what type of home will work for you and your family.
- Decide on location to accommodate your lifestyle and needs.
- Know your timeline, deadlines and moving plan.
- Meet with your Realtor to review what type of home and neighborhood will suit you and what you can expect when searching for your new home.
Errors by real estate home buyers.
- Not hiring a Realtor who will represent their interests when purchasing a home.
- Not selecting the right Realtor for your real estate needs. Select a Realtor who can show you their value and expertise. You want the best representation when negotiating your offer.
- Not being realistic about the value of a home and making a “lowball” offer. Learn about what allows the home to hold and retain its value. Ask your Realtor to walk you through how you can arrive at a mutually agreeable and fair market value price.
- Not getting pre-approved or understanding your budget before and after the purchase of your new home. Establish a reserve account for unexpected repairs or replacement of items.
- Once pre-approved and ready to secure your new home, do not run up credit cards, switch jobs or buy a new car. Wait until you close and your finances are in order before adding in additional or unnecessary debt.
- Not understanding the contract or agreement you are signing is an actual contract. Ask your Realtor to review a contract with you prior to beginning your home search and review again prior to making your offer. Understand what you are signing.
What are standard buyer’s closing costs in Florida?
- Taxes, recording fees on notes and mortgages / Recording fees for deed and financing statements.
- HOA / Condominium Association application / transfer fees.
- Lender’s title policy and endorsements / loan expenses / Owner’s Policy and Charges.
- Survey (and elevation certification, if required) / All property related insurance.
- Appraisal fees / Buyer’s Inspections / Buyer’s attorneys’ fees / Owner’s Policy Premium.
Why should I work with a Realtor when purchasing a home?
- A Realtor has the ability to define and simplify the home searching process saving you time and money. A Realtor’s expertise allows you to focus on finding the home of your dreams for you and your family.
- A Realtor is a reliable resource for answers before, during and after the home buying process including up to the minute knowledge about neighborhood features.
- Realtor will walk you through the “pros and cons” of purchasing a home through a traditional sale, short sale, foreclosure, auction property or FSBO (For Sale by Owner).
- A Realtor will also connect you with a list of professionals that include lenders, attorneys, inspectors, appraisers, general contractors, handymen, painters, moving companies and landscaping companies.
- A Realtor will handle offers, price negotiation, all paperwork and walk you through the required closing process to ensure a worry free closing.