Ho Do I Find Perfect Home?

 So you call Real Estate Agent and tell him/her exactly what you are looking for…What will happen then? I can tell you what I do. I send email with information on all interesting properties to my buyer. I also set up automatic updates. That means that if (for example) two day after initial search someone lists beautiful home ( exactly what you want) for sale, system will send you email within half an hour of  this property “hitting the market”, so you do not miss anything. That is especially great feature if Real Estate is moving fast.

I also advise buyers to drive around neighborhood and view properties outside before scheduling appointments to see inside. There is a lot you can  eliminate this way.

If you would prefer search on your own, you can go on www.annasellsrealestate.com, find “search for homes” link, register and you will get access to the same database Real Estate Agents use.

Trulia, Zillow, etc are also OK starting points, but there is a lot on those web sites that is not updated (properties that are sold show as active).

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Call or email listing agent Anna Chroscicki with RE/MAX Masterpiece Realty at 772-485-4188 or

anna@annasellsrealestate.com.

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Ho Do I Find Perfect Home?

HOW DO I MAKE OFFER?

Remember: Verbal offer and verbal answer to offer is not enforceable. So you definitely want to sit down with your Real Estate Agent and spend an hour or so to put all your propositions to seller in writing. We (Agents) will fill out pre-printed forms for you. Most of professionals in our area use “FAR/BAR forms”. Those are prepared by Florida Association of Realtors and Real Estate Attorneys. It would be in your best interest to have your offer presented on that form. You will be protected, all issues will be clearly spelled out. If something is not included, there are addenda that could be used.  

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Call or email listing agent Anna Chroscicki with RE/MAX Masterpiece Realty at 772-485-4188 or anna@annasellsrealestate.com.

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HOW DO I MAKE OFFER?

WHAT IS THE FIRST STEP IN HOME BUYING?

I have been selling Real Estate since year 2000. Sometimes I catch myself at being surprised when first time home buyer asks me about something regarding Real Estate that I feel he/she should know.

I have been thinking about it lately and I remembered buying my first home….and I realized that I did not know ANYTHING then.

What is worst?  I bought my first place in Connecticut and second in Florida. So when buying in Florida I thought that I have all the answers just to find out that buying and selling Real Estate varies from state to state considerably.

So I hope to give some pointers to Florida/ St Lucie home buyers.

Paar

  

Q1)Where do I start if I am thinking of buying home/condo/townhome?

A1) If you have enough cash to pay full listing price, your next step should be to call Real Estate Agent. Realtor will ask you questions to find out what exactly you want/need and will search database to find perfect place for you.

 

Q2)What if I need loan?

A2) First step then should be lender. Of course you can call Real Estate Agent also, but I will tell you to call lender, so that will be still your first step. My advice? Chose wisely. Don’t go to Bank of America,just because you have your checking account with them and it will be easy. Departments do not have anything in common. They will not give you a deal, just because you are their customer. Actually in my experience big banks (Chase, BoA, Wells Fargo, etc) give the poorest job on mortgages. Usually one underpaid and inexperienced loan officer handles 100 or more loans, does not ask right questions when qualifying you. Try to interview local mortgage lender/broker with good reputation. Ask your friends. Ask Real Estate Agent. And then be honest. If you are self employed and most of your income gets deducted, don’t hide it. It will come to light. Would you rather find out now or three weeks and thousand dollars into a deal that you can’t get loan?    

 

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Call or email listing agent Anna Chroscicki with RE/MAX Masterpiece Realty at

772-485-4188 or anna@annasellsrealestate.com.

WHAT IS THE FIRST STEP IN HOME BUYING?

Buying Home As Is

A)There is 99% chance that you will be purchasing your future home in “as is” condition. It absolutely doesn’t mean “buyer beware”. You are not stuck with “lemon” just as soon as you sign contract. You will notice clause on the offer form , that gives you opportunity to inspect home after you and seller execute contract. Most likely you are going to have between 7 and 10 days to do it. You can inspect property on your own, but my advise is to hire licensed professional. AS IS means only that if this inspector finds any issues with home, seller is not required to make any repairs. If something like that happens (problems), you have several choices: you can accept condition of the home and move forward with deal. You can cancel contract without any penalties. You can ask seller to make some repairs (he just doesn’t have to). Or you can renegotiate sale price.

If there are any issues that arise between inspection and closing, seller will be responsible to bring home to “inspection” condition.

Also- remember- seller has to disclose any material defects that affect value of property. It is not a question of trusting someone or not. It is ILLEGAL to hide issues.     

Buying Home As Is

What Loan Is For Me? FHA

  1. Q) What kinds of loans are there for home buyers?

There is few kinds of loans. And actually there is more and more, as housing market gets stronger with every month.

But you will most likely receive FHA, VA or Conventional loan.

FHA- If you are buying your first home…just starting and you don”t have substantial amount for down payment, this would be great loan for you.

Pros? You are required to bring down payment of only 3.5% of the purchase price. Also, seller can pay up to 6% of the purchase price toward your closing costs. If you are purchasing home priced at $100,000 or more, that should cover almost everything.     

Cons? 6% is not going to do you a lot of good if home will not appraise. Let’s say purchase price is $100,000 and seller will not accept one cent less. In order to get your closing costs paid by seller, you would have to rise price to $106,000.

Here comes another con. FHA appraisals are much more strict than in conventional loan. One of the reasons? Bank/government (FHA loan is insured by government, so if you stop making payments, your lender will get paid ) is a lot more careful, because they are lending you majority of the value. Also there are standards as to condition of the home (health and safety) that appraiser checks.  

There is mortgage insurance that you have to pay every month.On $100,000 house it would be between $50 and $100 per month . This insurance never goes away.

It is also much longer process (45 to 60 days).

Unfortunately sellers know of those cons and you will see a lot of homes for sale in which homeowners note: no FHA.

Ask questions…Chose wisely…

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What Loan Is For Me? FHA