Buying

Home Buying Process

THE REAL ESTATE BUYING PROCESS. STEPS FOR BUYING A HOME IN FLORIDA WITH AQUALAND REAL ESTATE.

Buying a home can be overwhelming, especially without guidance from a professional Aqualand Real Estate sales associate. Below is our proven system of steps to make purchasing a home in Florida an easy, convenient and enjoyable experience.

• THE DECISION TO BUY
  Whether you are a first-time home buyer or entering the marketplace as a repeat buyer, you should define your reasons for purchasing a home. Are you planning to move to a new community due to a lifestyle change or is buying an option and not a requirement? What would you like in your new home that you do not now have? Do you have a purchasing time frame?
  
  Whatever your answers, the more you know about the real estate marketplace, the greater the likelihood you can effectively reach your goals. It will be helpful to discuss your questions and concerns when you meet with your Aqualand Real Estate sales associate. By choosing an Aqualand Real Estate sales associate, you will be assured of a professionally trained, experienced individual who will give you outstanding representation and provide the one-stop, full-service array of programs for which we’re known. . The Aqualand Real Estate sales associate you select will thoroughly explain your buyer agency, seller agency, and transaction brokerage options.
  
• THE MORTGAGE PRE-APPROVAL
  Florida has a vibrant real estate market. The demand for homes and for home financing is very high. It is strongly recommended that buyers be “Pre-Qualified” by the Grass Roots Mortgage team prior to starting the home search process. Although the prequalification is not a final loan commitment, your pre-qual letter is a definite asset when bidding on a home. It demonstrates your financial strength and shows that you have the ability to proceed with a purchase. This information is important to owners; it gives them confidence in your offer and your intentions. We have found that owners are more apt to respond positively to a pre-qualified buyer since they save time and effort and eliminate the risk of accepting an offer the might fall through because financing could not be obtained.

• PREVIEW HOMES FOR SALE
  Ask your Aqualand Real Estate sales associate about our many home-finding tools to assist with the process of finding the home that matches your criteria. Your Aqualand Real Estate sales associate can provide detailed information on any property currently listed for sale by Aqualand Real Estate or by another real estate company. If you see a “For Sale” sign on a property or an ad in a newspaper about a home that interests you, your Aqualand Real Estate sales associate can provide you with all the details – including price, description, special features and financing terms. We have immediate access to data about properties that are on the market.
  
  During your meeting, your Aqualand Real Estate sales professional becomes familiar with every aspect of your real estate wishes and financial needs. You can rely on your associate for information on any property – whether it is listed with us or with another company. This saves you time and takes the hassle out of house hunting… and, it doesn’t cost you a penny! It is another part of our full-service program for customers.

• HOME SELECTED – PLAN THE APPROACH
  Negotiating the purchase agreement is part of every transaction. Good preparation lets you negotiate the best price and terms obtainable. Your Aqualand Real Estate sales associate’s experience is invaluable in developing the correct negotiating strategies and techniques to make your initial approach a success.
  
• MAKE THE OFFER
  Once you have previewed suitable homes and have found one you think is perfect, you are ready to make an offer! This process varies around the country. Typically, in Florida, you and your sales associate will complete an offer that will be presented to the owner and /or owner’s representative. This purchase offer will be carefully prepared and presented by your Aqualand Real Estate sales associate. At this point, you will be expected to include a check, usually a percentage of your offer price, as earnest money. The owner, in turn, may accept, reject, or make a counter-offer. Because counter-offers are common (any change in an offer can be considered a counter-offer), it is important for buyers to remain in close contact with their Aqualand Real Estate sales associate during the negotiation process so that any proposed changes can be reviewed quickly.
  
• OFFER ACCEPTANCE
  An accepted buyer offer becomes to a legally binding purchase contract. The contract is a signed agreement between the seller and the buyer. Your Aqualand Real Estate sales associate will answer any questions you may have regarding this contract.
  
• HOME INSPECTIONS ORDERED – PERFORMED
  Your Aqualand Real Estate sales associate, in order to protect your investment, will encourage you to have a home inspection done prior to finalizing your transaction. The home inspection should be completed within 10 days of the contract being signed or as specifically noted in the contract. A number of inspections are common in Florida residential realty transactions. They include inspection for termites, wood-boring insects, radon problems, and mechanical, electrical, plumbing, aluminum wiring, and structural defects. In homes older than 1975, we also recommend having the plumbing checked for cast iron piping, which can create serious long-term issues. During these examinations, a certified inspector determines if there are material physical problems and whether expensive repairs and replacements are likely to be required soon. Such inspections for a single-family home often require two or three hours. This is a safety net for our customers, and any home inspection issues will be addressed by your sales associate immediately after the inspection results are received. In some cases, this involves negotiating repairs with the Seller. A home warranty is also a great idea. The process of ordering a survey, and title work now begins as well.
  
• MORTGAGE COMMITMENT – TITLE WORK AND SURVEY PERFORMED
  At this time in the process you, as a buyer, have already been Pre-Qualified and possibly even pre-approved for a loan and await your final mortgage commitment . Typically, a final written mortgage commitment is received in 20 to 30 days. Whatever time frame is specified in the contract of sale, normally after 10 business days, the balance of any second deposit is due. Any issues with title are addressed by the title company or closing attorney as they arise. A commitment for title insurance occurs prior to closing.
  
• THE WALK -THROUGH – THE CLOSING
  Coordinated through your Aqualand Real Estate associate, the walk-through inspection is performed the day of the closing. The walk-through of the home you’re about to close on lets you re-confirm the condition of the home before the closing takes place.
  
  Settlement at closing is a brief process in which the necessary paperwork needed to complete the transaction is signed. Typically, both buyer and seller are at the same table, sometimes with each party completing their paperwork separately. The buyer traditionally arrives 45 minutes earlier than the seller to handle the mortgage paperwork. Title to the property is transferred from seller to buyer. The buyer receives the keys and the seller receives payment for the home. From the amount credited to the seller, the closing agent deducts money to pay off the existing mortgage and other transaction costs. Deeds, loan papers, and other documents are prepared, signed and filed with local property record offices. Ask your agent about Estimated Closing Costs.
  
• THE MOVE – CONCIERGE SERVICES
  Moving can be stressful. Our Concierge Service is designed to assist you with the myriad details involved in moving to your new home. We can help you find a moving company, obtain homeowners insurance, find a house painter, a nursery school or a dog walker.

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