Terms to know
Escrow
CMA
Pre-Qualified
Pre-Approved
Title Search
It's a Buyers Market!
How much do you want to spend?
The first step in your hunt for your new home is establishing how much you are able to spend. Finding the right mortgage lender is key. Remember, there are many different alternatives as to the terms of your mortgage. Be sure you get a competitive rate. Ask for a preapproval letter so Sellers know you are serious.
Where do you prefer to live?
Location, Location, Location. It's more than a slogan. In Real Estate, it can make a big difference. Location is important to different people for different reasons. Educational systems, property tax rates, flood zones, insurance premiums, community offerings, as well as expected market conditions can all affect your future investment.
Step 3
What housing characteristics are important?
Picking the right house for you means evaluating and prioritizing the necessities and niceties. Before you begin your search think about what is most important - square footage, lot size, age of house, pool, construction type, number of bedrooms and bathrooms are just a few of the components you should consider.
Step 6
How much do you offer?
Determining what offer to make on an available property is important. Although some on-line options are available, a full, professional Comparative Market Analysis is preferable. By researching recent and historical sales and factoring current market conditions, I can help. Your offer is then delivered in the form of a real estate contract complete with escrow payment.
Step 7
How do you negotiate?
Most real estate transactions require negotiation. As your agent, I will present your offer to the Seller and represent your interests in any subsequent negotiations. Remember, negotiations aren't always about price. Other terms including contract language, closing date, inspection requirements, and occupancy can be important to consider in negotiations.
Step 8
Close the Deal
Once an agreement is reached between the parties, you can set the date for the closing. As your agent I can coordinate actions such as structural inspections, termite inspections, property appraisals, and some lender requirements which occur before the closing date. Normally, the real estate transaction is closed in a formal meeting with the Buyer, Buyer's agent, Seller, Seller's agent, and the title agent where all legal documents are secured.
or call (863) 529-7488
Step 4
What housing inventory exists?
Once you have these components, the search for your future house can begin. The best way to obtain a comprehensive list of properties is the Multiple Listing Service (MLS). The link to the left provides access to this information. Once you've located some properties, I do the work - providing additional details about the property and arranging showings Once you're ready contact me at (863) 529-7488 or click here to email your request.
What is a HUD Home?
a 1 to 4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.
What is Escrow?
a deed, a bond, money, or a piece of property held in trust by a third party to be turned over to the grantee only upon fulfillment of a condition. The Escrow funds are normally submitted with a formal offer on residential property. In our area the amount offered varies but is generally between $500 -$2000. The higher the escrow the more serious Sellers take your offer.
What is the difference between Pre-qualified and Pre-approved?
Pre-qualified means that someone has taken a general look at your income and expenses and reviewed them in to a debt-to-income ratio formula.
Pre-approval means a lender has looked closely at your credit report and your income and determined that you qualify for a loan.
Neither guarantee a loan.
What is a title search?
shows that the home's title is proper, meaning there are no problems associated with it such as outstanding liens against the property, right-of-way discrepancies, pending lawsuits, etc.
Questions?
I'm just a phone call away:
(863) 529-7488
