Essential Elements to Buying a Home

Homeownership is one of the core concepts to the American Dream. In order to make that dream happen, there are a few steps that need to be followed. These steps ensure that you are prepared to own your own home. In order to make the process as smooth as possible, below is a quick guide to help navigate through the process.

Get Pre-Approved or Pre-Qualified Before you begin the home tours, you will need to know what you can afford. The mortgage lender will speak with the buyer and ask a few questions about the individual’s finances, including debt. This is a pre-qualification process.

The pre-approval process is another option available. This process requires a credit check and the amount of down payment is considered. The lender will take a look at any debt which will result in a pre-approved amount that is typically favored over pre-qualification.

Decide on a Location Once you know how much you can spend on a home, it's time to start the home tours. First, you will need to narrow down areas you wish to look in. Many times people choose locations based off work and school. You should keep in mind the commute and lifestyle you wish to live when deciding on a location. It's always good to visit potential locations prior to going on home tours.

What Type of Property Do You Want to Buy? The type of home you purchase is another factor when deciding on a location to live. Things to consider are new construction or resale? Types: single-family detached homes, semi-detached homes, duplex homes, townhouse or condo. Try to keep in mind not only your current needs, but future needs as well.

Choosing an Agent An agent is a valuable tool while looking for a property. They understand the market and can take you to homes within the criteria you have determined will fit your needs. This will save you time and frustration during the process. They will present your offer and negotiate on your behalf. You will have someone to walk you through the process. While working with me, buyers DO NOT pay a fee for my service. If you are unsure where to start, contact me and we can go through the entire process together, including your pre-qualification process.

Time to Visit Properties Now that you have determined the type of home and location, it's time to view properties. This will probably be the most enjoyable step in the process. I will set up a time and date to take a tour of properties that are of interest to you. It's important to take your time and not make any hasty decisions.

Making an Offer Once you have found the perfect home, it's time to make an offer. I will conduct a search of recently sold properties in the area to determine a good starting point for the offer. We will present your offer to the seller on a contract which will also provide details such as terms both the buyer and seller will need to make this a successful transaction. I will ensure the contract meets all necessary legal requirements.

Securing the Mortgage Once the offer is accepted, you will need to complete a mortgage application. It's always a good idea to shop around for a lender that offers the best rates and terms. If needed, I can always recommend a few for you to choose from.

Inspections It's time to arrange for an inspection on the home. If needed, I can always recommend a few for you to choose from. A qualified inspector will check things such as foundation, plumbing, electrical, roof, walls and insulation. The inspector will also look for signs of mold and pests.

Obtain Insurance You will need to obtain insurance for your property. This will protect your home in the event of fire, theft or other potential liabilities. Title insurance is also another type of insurance you will want to buy. This will protect you against liens and should be in the amount of the homes values.

Closing Day The agent and buyer will do a walk-through of the property. The buyer will bring the remaining monies due for closing. It's always good to double check forms of payment accepted for your closing fees. You will sign all of the paperwork required to complete your purchase. Once your loan has funded you can move into your new home.

Services in: Green Cove Springs, Orange Park, Jacksonville, Fleming Island, Avondale, Baymeadows, Mandarin, Riverside, San Jose, San Marco, St. Johns Florida