Serving Ocala-Marion County and The Villages Ocala, FL 34471
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Home Buyer's Guide
HOME BUYER'S GUIDE
So you've made the decision to purchase a home. Welcome to an easy, comprehensive and personal tool that will 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:
Buying a home is one of the most important decisions you will make in your lifetime.
Some things to look at:
Be prepared; know what you're looking for. This will help you from being overwhelmed and will cut down on the chaotic buying process. Find a REALTOR that you feel comfortable with. You will need every tool available to you. From the planning stage, to selecting the home of your dreams. Understand the process.
Understanding the Process :
Buying a home is a complicated process. We have broken it down into four phases.
1) Deciding to Buy your Home
2) Locating and Buying a Home
3) Making the Best Deal
4) 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 Credit Rating
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
Assessing 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. There are many resources that may assist you in the event there are questions or disputed items listed. For more on your credit history click here
Making sure the home you choose is the right one, reflects you knowing exactly what features you need, want and don't want. BEFORE starting your search.
Big choices that will make a big difference. Decisions that you make from this point on will have an impact for the future. From the home to the neighborhood you wish to live in to the financial arrangements you choose to obligate yourself for. One of the most important things at this point to have on your side is a REALTOR.
Choosing a REALTOR
Educated homebuyers only work with a Buyer Consultant. Buyers Consultants are hired specifically to represent them. REALTORS are all members of the National Association of Realtors. Realtors who have achieved the ABR designation, which stands for Accredited Buyer's Representative, have special training in how to represent buyers. A Buyers Consultant represents the Buyer, and owes the Buyer very important duties, such as confidentially.
In making the important decision of your REALTOR you should understand:
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
Who is an ABR designated REALTOR
Once you have found the right REALTOR for you, you are then ready to find the home of your dreams.
Choosing a neighborhood
It's time to look at a few homes after you make sure what your wants and needs are. When narrowing down your home search, consider:
Home purchase consideration
Home comparison sheet
Types of homes
Once you have gotten to this point you are moving forward to making an offer on a home that is right for you. Experienced REALTORS have many stories to tell about a couple finally finding their dream home, found it, and then delayed in making an offer, and the home sold.
Making the Best Deal
Why making the Deal is a Big Deal. Once you've found your home, the next step is to come to an agreement with the present owner. There are many issues that can impact your finances, tax situation and legal obligations. Items, which are a Big Deal when you consider that you are the one who will be living with the decisions, made, perhaps for a long time.
Making an Offer
The starting & 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.
Here the REALTOR provides valuable service. She usually as a variety of standard forms that have been utilized thousands of times and are always updated with changing laws. When you use a REALTOR, these forms are available to you. An ABR designated REALTOR offers protection for you, the Buyer, and covers the questions that need to be addressed during the 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:
Savings & Loan Associations
Federal Credit Unions
Applying for a Loan
At this point, typically as a homebuyer you have made an offer on your home, decided what type of mortgage fits your needs and selected a lender. Your next step is the loan application. Your REALTOR and lender will work together so you will clearly understand:
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 you 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 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.
Making a plan
One of the most beneficial things you do will be spending the time making a moving plan. If you are moving a good distance, say across state, country or even to another city, it would be wise to begin your plan right away.
Investigating moving companies, you will have made a solid start towards eliminating many of the surprises and hassles a move can bring.
Email Crystal Keller Williams Cornerstone Realty
Serving Ocala-Marion County and The Villages
Direct Line 352-547-1077
Direct Fax 352-547-1078
Toll Free 800-391-8354 Ext 0
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