Just for Buyers
So, you've made the decision to purchase a home. Whether it's a new dream home at The Villages, we've provided an easy, comprehensive and personal tool that will assist you in your home search. Whether this is your first home or you have purchased before, we hope you will find this information helpful.
Deciding to Buy a Home:
Choosing and buying a new home is one of the most important steps you will make during your lifetime. Along with getting married and having a baby, it also ranks as one of the most stressful. Make this transition a simpler one, by keeping yourself informed during each step of the process.
Some things to look at:
Be prepared; know what you're looking for. This will help prevent you from feeling overwhelmed and will cut down on chaos during the buying process. Find a REALTOR that you feel comfortable with, one who is knowledgeable about the chosen area and its real estate market. You will need every tool available to you. Make sure you understand the process from the planning phase, to selecting your dream home. We are here to help!
Understanding the Process:
Buying a home is a complicated, multi-level process. We have broken it down into four phases.
- Deciding to Buy your Home
- Locating and Buying a Home
- Making the Best Deal
- Moving in
Making a Game Plan:
To help make the process manageable and less overwhelming, let's start by looking at the elements that you should review BEFORE looking at a home or entertaining an offer. Areas of action are:
- Fine tuning your
- Pre-Qualification and Pre-Approval on your mortgage
(Ask your REALTOR and lending institution to assist you)
- Be an educated Buyer
- Know what you need, want and don't want in your new home
- Know what you can afford
Addressing your Credit, Wants, Needs and Finances:
Even if you are sure your Credit is solid, it's a good idea to double-check in the beginning. Get a copy of your credit report for your review. Many resources may assist you in the event there are questions or disputed items listed. For more on your credit history, click here.
Think about the home you are going to choose, that it reflect exactly what features you need, want and don't want BEFORE even starting your search.
You can also begin assessing your finances to know exactly how much house you can afford. Click here for a handy mortgage calculator.
Locating & Buying a Home
Big choices will make a huge difference. Decisions that you make from this point on will have a direct impact on your future. From the home, you choose, to the neighborhood you wish to live in, to the financial arrangements you agree on, one of the most important things at this point is to have a REALTOR working hard on your side.
Choosing a REALTOR®
Educated homebuyers only work with a Buyer Consultant. Buyer Consultants are hired specifically to represent the Buyers in a transaction. REALTORS are all members of the National Association of Realtors. Realtor’s who have achieved the ABR (Accredited Buyer's Representative) designation, receive specialized training that teaches them the most effective ways to represent a buyer during a real estate transaction. Some of the perks to having an Agent working exclusively on the Buyer’s side is that they can structure the offer to fit the specific property, present the offer to the Seller or Seller’s Agent on the Buyer’s behalf and research properties prior to viewing in order to pinpoint any problems or issues beforehand.
When you are making the important decision of selecting your REALTOR, keep in mind:
- The benefits of a Buyer's representative
- How to evaluate an agent that is right for you
- How to use this agent & the obligations that are owed to you
- What is an ABR designated REALTOR.
Once you have found the right REALTOR for you, you are ready to find the home of your dreams.
Choosing a neighborhood:
It's time to look at a few homes once you have determined your wants and needs. When narrowing down your home search, consider:
- Home purchase consideration
- Home comparison sheet
- Types of homes
Once you have gotten this far, you are well on your way to making an offer on a home that is right for you. Experienced REALTORS have many stories to tell about persons finally finding their dream home, and then because of their delay in making an offer, the home sold to someone else. It's time to look at a few homes once you have determined your wants and needs. When narrowing down your home search, consider:
Making an Offer:
The starting and ending point of every purchase agreement is the initial and final offer. Oral promises are not legally enforceable when it comes to the sale of real estate; buyers need to enter into a written contract, which begins with a written offer. This offer specifies price, as well as all other terms and conditions of the purchase.
A Realtor can access and will provide you with all the proper and updated forms used in a real estate transaction. A REALTOR with the ABR designation offers protection for you, the Buyer, and will answer all the questions that need to be addressed during the purchase process.
Selecting a Lender:
When closing a lender, your goal is to get the mortgage loan that is most advantageous to your personal needs. You should contact several mortgage lenders, including the lenders to whom you presently make payments (if applicable), to discuss what programs they have available, their rates and closing costs, as well as other fees. Mortgage loans are available from many sources. A few are:
- Mortgage companies
- Savings & Loan Associations
- Federal Credit Unions
Applying for a Loan:
Typically, at this point, the buyer will have made an offer on a home, decided what type of mortgage fits his or her needs, and selected a lender. The next step is the loan application. Your REALTOR and lender will work together so that you will clearly understand:
- Pre-application steps
- The information your lender needs at time of application
- Decisions you will have to make at time of application
- Application costs you will be required to pay
- Application legal requirements
Closing on your Home:
The day on which you take possession of your new home is known as the closing or settlement date. As you and your REALTOR reach this final step, you will need to understand:
- What takes place before closing
- What happens at the closing table
- Closing costs
- Closing documents you will receive
Making a big hassle easier. Once you have found your dream home, received financing and closed the transaction, you're ready to face the job of moving. For many, this is the biggest job of all. Preparation is essential, whether you are moving immediately or proceeding slowly.
Complimentary use of our company moving van is just one way we can help redue the stresses and costs associated with relocation, making this time a little easier for you and your family.
Making a plan
One of the most beneficial things you can do is spend the time creating a moving plan. If your plan is to move a long distance, across the state, the country or even to another city, it would be wise to begin preparations right away.
Let us help you find your dream home. It is out there waiting for you.
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