MY FLORIDA

LIFE

BUYING A HOME... one of the biggest decisions and purchases you will make at least several times during your lifetime. The process is not complicated, but it can be if you are not familiar with it. This is why every good realtor or real estate agent takes the time to sit down with you and go over the process step by step. It is so important to communicate with your buyers and your buyers with you. It is vital to the process. If your agent does not have the time to sit down with you to discuss exactly what your wants and needs are for your new home, then you may need to get a new agent. After all, this process is ALL ABOUT YOU!​           See an Outline w/ Q & A Regarding the Process Below
THE HOME BUYING PROCESS
WHAT ARE SOME OF THE THINGS MY AGENT
OR REALTOR SHOULD BE GOING OVER? (IN FLORIDA)
1. First things first! You need to know if you have the money to purchase a home. You also need to know the amount of money that you may be able to borrow from a lender to purchase the home if you are not paying cash.
  • ALWAYS GET PRE-APPROVED WITH A LENDER FIRST before you even begin looking at homes. A good realtor or agent will make sure that you have already done this or get you connected with lender option who can.
  • A good realtor or agent will not waste your time. They want to know for sure that you can get what you want and that your time is not wasted. A pre-approval letter will be required by anyone accepting an offer from you on a home. 
2. Congratulations! You're credit looks great. You've got some money in the bank. You have been pre-approved with the lender of your choice! NOW IT'S TIME TO START LOOKING AT HOUSES!
  • More than likely, your agent or Realtor will set you up on a search subscription. This subscription will send you homes to your e-mail that fit your criteria. That subscription should send you the newest homes as soon as they hit the market.
    • During your initial meeting with your agent or Realtor, you should go over all home criteria options using an inventory sheet, this way, your Realtor is only sending you homes that fit precisely what you want and not wasting time looking at things you won't like. ​This involves a face to face interaction to spark discussion on all things that might be of value to you. 
    • Q: But what about sites like Zillow, Trulia, & Realtor.com? Can't I just search for my home there? 
      • A: Yes, you can; however, those sites simply pull data from the Multiple Listing Service (MLS). The subscription your Realtor has set you up on is DIRECTLY from the MLS. It is UPDATED IN REAL TIME. Those other sites do not update in real time and have old or inacurate information that may lead you to want to look at a home that is already off the market.​
        • Also, your Realtor may have their own search app that you can download & use that will also be connected to the MLS.​
        • Our App even has a feature that allows you to find homes that are available in the area as you drive around looking in your car. 
3. After setting up a home tour schedule to go and view the homes you have requested, you finally find THE ONE! ​
  • Q: Now What? 
    • A: Your agent or Realtor will write up an offer than you agree to. ​
      • Your agent or Realtor may help to advise you on an appropriate offer amount based on the market & comparable properties in the area that have recently sold.​
      • You will need to provide your agent or Realtor with a pre-approval letter from your lender FOR THE EXACT AMOUNT you are offering for the home.
      • You will call your loan officer and they will write it up for you and send it to both you and your agent/Realtor.
      • Your agent will submit that pre-approval letter with your offer which will come in the form of a Purchase And Sale Agreement. (PASA)
        • A Homeowners Association & CDD Disclosure​
        • A Leadbased Paint Disclosure (if the home was built before 1978)
        • Cyber Crime Disclosure
          • Other Required Documents Depending On the Property & Loan Type​
  • Q: How & When Do We Know Our Offer Has Been Accepted?
    • Your agent or Realtor will let you know as soon as it has been accepted. 
    • Usually, your agent or Realtor will give the other agent or the sellers at least 24 hrs to respond.​That time stipulation will be written into the PASA.
    • The agreement has only been accepted when ALL PARTIES have signed. 
4. Congrats Again! Your offer has been accepted! 
  • Q: Now What? 
  • A: Now it's time to hire an inspector for your home inspection.
    • Q: Do I really need to pay for a home inspection?​
    • A: You are not required by all lenders to get one; however, FHA loans always require it as well as a clean WDO (wood destroying organism) Report. As a general rule, we don't usually recommend waiving the inspection. It could end up costing you much more over a lifetime if you do not spend the money now to ensure that everything is in proper working order. This is part of what is called Buyer Due Diligence.
  • Q: When should I schedule my inspection?​
  • A: Right away. As soon as possible. This will help you to keep to the timeline outlined in your purchase and sale agreement. The sooner the inspection is completed, the sooner you will know what repairs to ask for and the more time the seller has to rectify them. 
5. Read Over Your Home Inspection & WDO Report with your Agent or Realtor. Decide what items you would like rectified by the seller. Your agent or Realtor will write them up in a Repair Replacement Treatment Agreement (RRTA). This is an extension of your Purchase And Sale Agreement.
  • Your agent or Realtor will send the RRTA to the listing agent or seller.
    • The Seller &/or listing agent will then agree or disagree to selected repairs.​
      • They negotiate repairs until they come to some sort of agreement.​
  • ​Seller makes repairs and your lender schedules the appraisal. Together, you and your agent or Realtor schedule any other  final inspections.
5. Prepare for closing. Over the next 30-45 days you will be filling out paperwork for your loan and providing your lender any and all documents they may need.
  • DURING THIS TIME - it is VERY IMPORTANT not to SPEND LARGE AMOUNTS OF MONEY or LOSE YOUR JOB (wink wink). 
    • A lot of buyers make the mistake of going and buying all new furniture for their house before they close. Or a car to put in their new garage. This is not a good idea. It can affect your credit and your loan. Proceed with caution during this time and always TALK IT OVER WITH YOUR LOAN OFFICER FIRST before making ANY LARGE PURCHASES.​
  • CLOSING DAY!​
    • Bring two forms of ID to the Closing.​
    • Be sure that you've sent the proper funds to the closing company (securely) or bring a check for the amount of your closing costs. (bring your check book just in case).
    • BRING YOUR SMILE! 
6. MOVE IN TO YOUR NEW HOME & CELEBRATE!​
GET CONNECTED WITH A GREAT AGENT TODAY! 
FILL OUT YOUR INFO BELOW AND WE WILL CONTACT YOU.
OR YOU CAN CALL/TEXT US DIRECTLY 904-735-3200

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Rachel Jojola
KELLER WILLIAMS FIRST COAST REALTY
4465 US Hwy 17 # 2
FLeming Island FL, 32003
904-735-3200