Buyers

What Does The Buying

Process look Like?

What Does The Buying Process look Like?

WHY HIRE A

REAL ESTATE PROFESSIONAL?

WHY HIRE A REAL ESTATE PROFESSIONAL?

In this age of endless information, finding the house may be easier, but successfully navigating and negotiating the process are still heavily dependent on choosing the right expert. 


Purchasing a property, represents a significant financial decision and can turn into your best opportunity or or a source of stress. You need a place to live; partner with an expert to ensure it’s serving your goals and meeting your needs.


In a competitive market, a connected agent can secure a top position with your offer. Just as crucial, professionals must have current insight into the financial climate affecting both buyer and seller considerations.


There are no part-time agents on the Sell South Florida Team, only passionate experts, determined to win with you.

The Home Buying Road Map

Young couple looking at new homes online from the sell south florida team

Deciding To Buy


It is important to know why you are choosing to invest in property, in deciding which property will be a wise purchase.


So why do you wanna buy…


Are you tired of paying rent? 

Have you outgrown your current home?

Is your current home too large?

 Is your life happening elsewhere?

Would you like a stable investment?


Your motivation will be a crucial factor and determining your actions.

couple preparing to purchase a new home

Preparing To Buy


The best time to buy a property is always 20 years ago, but the second best time is as soon as the right property that you can afford is available. 


Timing the market is a fool's errand, and every property purchase has to be considered on its individual merits.


Consult With Professionals 


It’s never too early to begin consulting experts on a future purchase. Have a trusted Real Estate agent connect you to a mortgage broker for a preliminary conversation.


To understand available loans, You will need access to: 


Financial statements: bank accounts, investments, credit cards, and loans. 


Income statements: recent paystubs and tax returns. 


Records of assets: life insurance, stocks, retirement accounts, and other potential sources of income.


Check Your Credit Rating


You will not order a hard credit pull until you have saved an appropriate down payment and prepared key financial documents under the guidance of the Mortgage professional.


You are able to order a credit report without doing a hard credit pull. We recommend checking with one of the three credit reporting agencies: Equifax, Experian, and Trans Union. 


Once you are ready to purchase a home, your mortgage professional will do a true credit pull. You are able to shop loan products within a short period of time without damaging your credit score- so long as all credit pulls are for the purpose of qualifying for a home purchase.


Avoid Major Changes


Do not make any sudden career changes or large purchases. Any gap in employment can delay your ability to qualify for a loan. A change to your cash on hand or debt obligations can change your ability to qualify for a loan.

Choose the highly successful agents of the sell south florida team help you have an exceptional home buying or selling experience

Choose A Real Estate Professional


An experienced and knowledgeable real estate agent will serve as a trusted guide who’ll help you navigate the intricacies of the market, negotiate on behalf of the buyer, and offer invaluable insights into neighborhoods and property values. 


A skilled agent not only understands the client's preferences but also anticipates their needs, ensuring a tailored and efficient home-buying experience. 


From identifying suitable properties to managing paperwork and deadlines, the right agent streamlines the process, alleviates stress, and ultimately maximizes the likelihood of finding the perfect home. 


In essence, the choice of a real estate agent is a strategic investment in a smoother, more informed, and ultimately more satisfying home-buying journey.


Things to consider when choosing a Real Estate professional: 


• A full-time, successful agent is likely to have more accurate market insights 

• A full-time, successful agent is able to provide references from previous clients

• A full-time successful agent is likely to have relationships with other exceptional professionals to support your process.

• Truly successful agents specialize,

• Confirm their expertise is in alignment with your goals. 

• It is crucial you trust and like your real estate agent.

• Your agent should be organized and able to communicate their purchase process to you.

• Above all, selecting an agent is a business decision; choose the real estate professional you know will win for you!

couple looking at a new home listing from the sell south florida team

Take A Drive


Get to know the neighborhoods and subdivisions that interest you. Drive around and get a feel for what it would be like to own a home in the area. Start getting a sense of the properties available in those areas.  See how far away the schools, stores, and work are from the neighborhood. 


Narrow Your Search


Select a few properties that interest you the most and have your real estate agent make appointments to visit them. Ask your real estate agent about the potential long-term resale value, school ratings, recreation activities, and any other questions you have about the properties you are considering.


Time to Buy


Once you have picked out the property you want to purchase, your real estate agent can help you make a competitive offer that the seller may accept.  A good agent will investigate the potential costs and expenses associated with the new property and can help you draft your offer in a way that gives you a competitive advantage over any other potential offers.

home inspection and escrow tips from the sell south florida team

Escrow Inspection and Appraisal


Escrow is due with an accepted offer, so this deposit must be available before you begin viewing properties. An offer can be accepted in as little as one business day, though, it’s more often a longer negotiation. As a buyer, you must be ready for either scenario. 


The escrow deposit is a show of good faith that does not cost the buyer any additional money. Ideally, the Escrow amount is a minimum of 5% of the total purchase price.


What To Expect When Your Inspecting?


The AsIs contract allows for diligence When you can hire professionals to inspect key components of the home.  A licensed inspector is qualified to offer an opinion about the home's main systems. They will often bring additional experts for special inspections like pools, air quality, roofs, and pests….


Buyers can choose to cancel a contract based on discoveries made during the inspection period. so long as cancellation occurs before the end of the inspection period, A buyer will receive their escrow deposit back.


Rather than have a buyer cancel the contract, sellers may be willing to repair key systems. This most frequently occurs if the issue impacts a home's ability to qualify for insurance.


Insurance 


Lenders will require home insurance to be secured before closing a home purchase. Insurance carriers will request a four-point inspection report before binding a policy. Carriers may also request a report specific to the roofing system, called a wind mitigation report.


There are also reports required by the lender for certain loan products. For example, VA loans will require a WDO (wood-destroying organism) inspection.


Appraisal


Lenders will also require the buyer to pay for an appraisal before approving a loan. The appraisal may result in renegotiation of the contract. Sellers are not obligated to accept a low appraisal unless stipulated by the contract. 

If the appraisal is not returned before the loan commitment deadline, the buyer is obligated to pay for any gap between the appraised value and loan amount or risk forfeiting their escrow deposit.


Association Approval


Many homes are regulated by associations and many associations require buyer approval before purchase. This process must begin as soon as a contract is accepted because associations can take up to 30 days to review applicants. 


Approval is typically done for an additional fee per applicant paid directly to the association. If a buyer is not approved, the contract will be canceled and the Buyer will receive their escrow deposit back.

moving into a new home purchased from the sell south florida team at blue realty

Closing Day and Move-In


It is ideal to have desired improvements made in a property and a deep cleaning, before moving in. This is why we always recommend waiting a few days after closing to schedule your movers.


It is urgent to be prepared to have all utilities transferred into your name on closing day. You will be able to supply your proof of purchase after closing, which many cities will require before starting utility services. 


Each city is unique, and your agent will have resources and instructions specific to your new property.

Young couple looking at new homes online from the sell south florida team

Deciding To Buy


It is important to know why you are choosing to invest in property, in deciding which property will be a wise purchase.


So why do you wanna buy…


Are you tired of paying rent? 

Have you outgrown your current home?

Is your current home too large?

 Is your life happening elsewhere?

Would you like a stable investment?


Your motivation will be a crucial factor and determining your actions.

couple preparing to purchase a new home

Preparing To Buy


The best time to buy a property is always 20 years ago, but the second best time is as soon as the right property that you can afford is available. 


Timing the market is a fool's errand, and every property purchase has to be considered on its individual merits.


Consult With Professionals 


It’s never too early to begin consulting experts on a future purchase. Have a trusted Real Estate agent connect you to a mortgage broker for a preliminary conversation.


To understand available loans, You will need access to: 


Financial statements: bank accounts, investments, credit cards, and loans. 


Income statements: recent paystubs and tax returns. 


Records of assets: life insurance, stocks, retirement accounts, and other potential sources of income.


Check Your Credit Rating


You will not order a hard credit pull until you have saved an appropriate down payment and prepared key financial documents under the guidance of the Mortgage professional.


You are able to order a credit report without doing a hard credit pull. We recommend checking with one of the three credit reporting agencies: Equifax, Experian, and Trans Union. 


Once you are ready to purchase a home, your mortgage professional will do a true credit pull. You are able to shop loan products within a short period of time without damaging your credit score- so long as all credit pulls are for the purpose of qualifying for a home purchase.


Avoid Major Changes


Do not make any sudden career changes or large purchases. Any gap in employment can delay your ability to qualify for a loan. A change to your cash on hand or debt obligations can change your ability to qualify for a loan.

Choose the highly successful agents of the sell south florida team help you have an exceptional home buying or selling experience

Choose A Real Estate Professional


An experienced and knowledgeable real estate agent will serve as a trusted guide who’ll help you navigate the intricacies of the market, negotiate on behalf of the buyer, and offer invaluable insights into neighborhoods and property values. 


A skilled agent not only understands the client's preferences but also anticipates their needs, ensuring a tailored and efficient home-buying experience. 


From identifying suitable properties to managing paperwork and deadlines, the right agent streamlines the process, alleviates stress, and ultimately maximizes the likelihood of finding the perfect home. 


In essence, the choice of a real estate agent is a strategic investment in a smoother, more informed, and ultimately more satisfying home-buying journey.


Things to consider when choosing a Real Estate professional: 


• A full-time, successful agent is likely to have more accurate market insights 

• A full-time, successful agent is able to provide references from previous clients

• A full-time successful agent is likely to have relationships with other exceptional professionals to support your process.

• Truly successful agents specialize,

• Confirm their expertise is in alignment with your goals. ( if their experience isn’t going to give you an advantage, they should be able to refer you to or partner with a better fit).

• It is crucial you trust and like your real estate agent.

• Your agent should be organized and able to communicate their purchase process to you.

• Above all, selecting an agent is a business decision; choose the real estate professional you know will win for you!

couple looking at a new home listing from the sell south florida team

Take A Drive


Get to know the neighborhoods and subdivisions that interest you. Drive around and get a feel for what it would be like to own a home in the area. Start getting a sense of the properties available in those areas.  See how far away the schools, stores, and work are from the neighborhood. 


Narrow Your Search


Select a few properties that interest you the most and have your real estate agent make appointments to visit them. Ask your real estate agent about the potential long-term resale value, school ratings, recreation activities, and any other questions you have about the properties you are considering.


Time to Buy


Once you have picked out the property you want to purchase, your real estate agent can help you make a competitive offer that the seller may accept.  A good agent will investigate the potential costs and expenses associated with the new property and can help you draft your offer in a way that gives you a competitive advantage over any other potential offers.

home inspection and escrow tips from the sell south florida team

Escrow Inspection and Appraisal


Escrow is due with an accepted offer, so this deposit must be available before you begin viewing properties. An offer can be accepted in as little as one business day, though, it’s more often a longer negotiation. As a buyer, you must be ready for either scenario. 


The escrow deposit is a show of good faith that does not cost the buyer any additional money. Ideally, the Escrow amount is a minimum of 5% of the total purchase price.


What To Expect When Your Inspecting?


The AsIs contract allows for diligence When you can hire professionals to inspect key components of the home.  A licensed inspector is qualified to offer an opinion about the home's main systems. They will often bring additional experts for special inspections like pools, air quality, roofs, and pests….


Buyers can choose to cancel a contract based on discoveries made during the inspection period. so long as cancellation occurs before the end of the inspection period, A buyer will receive their escrow deposit back.


Rather than have a buyer cancel the contract, sellers may be willing to repair key systems. This most frequently occurs if the issue impacts a home's ability to qualify for insurance.


Insurance 


Lenders will require home insurance to be secured before closing a home purchase. Insurance carriers will request a four-point inspection report before binding a policy. Carriers may also request a report specific to the roofing system, called a wind mitigation report.


There are also reports required by the lender for certain loan products. For example, VA loans will require a WDO (wood-destroying organism) inspection.


Appraisal


Lenders will also require the buyer to pay for an appraisal before approving a loan. The appraisal may result in renegotiation of the contract. Sellers are not obligated to accept a low appraisal unless stipulated by the contract. 

If the appraisal is not returned before the loan commitment deadline, the buyer is obligated to pay for any gap between the appraised value and loan amount or risk forfeiting their escrow deposit.


Association Approval


Many homes are regulated by associations and many associations require buyer approval before purchase. This process must begin as soon as a contract is accepted because associations can take up to 30 days to review applicants. 


Approval is typically done for an additional fee per applicant paid directly to the association. If a buyer is not approved, the contract will be canceled and the Buyer will receive their escrow deposit back.

moving into a new home purchased from the sell south florida team at blue realty

Closing Day and Move-In


It is ideal to have desired improvements made in a property and a deep cleaning, before moving in. This is why we always recommend waiting a few days after closing to schedule your movers.


It is urgent to be prepared to have all utilities transferred into your name on closing day. You will be able to supply your proof of purchase after closing, which many cities will require before starting utility services. 


Each city is unique, and your agent will have resources and instructions specific to your new property.

Explore How Our Team

Can Help You

Explore How Our Team Can Help You... Win With Us

Explore How Our Team Can Help You

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