Buying a home in Fort Lauderdale with Atlantic Properties International
Purchasing a home is an intimidating event for many people, but with a little planning ahead of time, it isn't too confusing.
So they'll know exactly what they can expect, I like to give buyers an outline of the whole deal.
These are my nine steps to purchasing a home.
If you have any questions about this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Prepare to purchase
Before you begin looking for a home, there are plenty of things you'll want to take into account.
It's likely that you'll want to assemble a list of features you need, get a feeling for what school districts you'd like to live in, and start working on your budget.
A good rule to follow is that your mortgage payment should be close to 30 percent of your net monthly income.
Step 2 – Contact a real estate agent
This is where I come in.
We'll book a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about the mortgage and housing industries, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Fort Lauderdale area.
I can also help you begin the loan process.
Atlantic Properties International partners with some of Fort Lauderdale's best mortgage professionals, so you're in great hands.
They will help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin your search
After our initial meeting, I'll begin searching for homes on the market that meet your needs.
I'll preview many of the homes and throw out the bad ones, and then we'll schedule appointments to view the houses when it's most convenient for you.
As we tour the homes, I'll point out good features and bad ones. I'll even ask you to point out what things you like and don't like.
Usually, buyers revise their wish list as we view houses and some items become more necessary than others.
If that happens, I'll go back through all the listings one more time and trim it down to the home you've been waiting for.
Step 4 – Understand the housing market
My knowledge of the Fort Lauderdale home market is a leading element in your home search. I'm mindful of all the neighborhoods and schools, and I will communicate certain neighborhoods are "hot" and require immediate action and others that are "cold" and allow for more analysis.
As we tour houses, I'll let you know when the seller's asking price has room for negotiation and also when I trust the home is "priced to sell."
When working with an agent, be mindful and be sure to ask a lot of questions. Every real estate agent in Fort Lauderdale will claim to know the market.
If it appears they don't know everything, call me at 9548811753 or e-mail me at , and I'd be happy to answer any questions you may have. My understanding of the market will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house you've been looking for
I'm positive we'll find your dream house in the Fort Lauderdale area. When we do, I'll precisely develop your purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies. A few examples are getting financing, carrying out the home inspection, and a clear title.
When turning in your purchase offer, you'll probably need to present "earnest money." This is a cash deposit given to the home seller to secure the offer to buy the property and is usually applied to the cost of closing. If your offer is accepted, we should close on the property about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the first offer – it's really common to receive a counter offer. But don't let this discourage you. We'll consider whether or not to accept the counter offer, present our own counter offer, or decline the seller's offer and go on.
Market conditions will play a large role in how aggressively we negotiate the contract.
We'll also work within your financing limits. And when it's all said and done, we'll create a contract that works well for you.
Step 7 – Secure your loan
Upon signing the contract, you'll start working with your lender to close the loan.
It won't take much time at all if you're pre-qualified, but you need to keep in close contact with your lender.
And I'll manage all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of taking your application.
The estimate is formed from the loan amount. RESPA requirements mandate that it has to involve all closing costs and be within a close range of accuracy, and I'll review the estimate and let you know if it all looks adequate.
Then we'll close on your home. This should happen at a title company or escrow office and will likely be a smooth and peaceful event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, simply call me at 9548811753 or e-mail me at .