THE SW Florida HOME BUYING PROCESS
- Step 1: The Buyer’s Consultation – There are several processes involved in the home buying process. First and foremost a Shellstar real estate Agent/Broker must determine what your wants and needs are. It’s essential to have an initial consultation with your future Buyers Agent to determine if the agent is the right match for you and to be sure that the agent has a clear understanding of your desires for your next future Florida home.
- Step 2: The Pre-Approval Process– Many Buyers have the misconception that the financing process comes after a home is found. That is not the case, The Pre-Approval process must be completed before your home search process even begins. Many sellers today will not even consider a purchase offer on a home without a pre-approval letter or proof of funds. By working with a creditable lender from the beginning this will allow you as the Buyer to fully understand your budget and what you can comfortably afford. We work with many creditable lenders and are happy to provide a referral.
- Step 3: Finding Your Perfect Southwest Florida Home! – The Process of actually looking at homes in the beginning is exciting and fun, but can soon turn into a daunting experience. With the age of the internet Buyers have listings available at their fingertips and soon there is an abundance of homes available or there is too little available. This is where your Buyers agent comes in. We help you weed through these homes to find the perfect one for you. Communication with your agent is critically. Your agent works for you and needs to know your thoughts on the home and any questions you have along the way.
- Step 4: Making an Offer & Negotiations – Once you have found your perfect home you and your Buyers Agent will sit down to write up a fair offer based on properties that are comparable in the area, location, upgrades that the property has and repairs that the property may need and any other special circumstances that may come into play. When your offer is complete your Buyers Agent will present the offer to the Listing Agent and negotiate the best deal for you that is acceptable to the seller. This process may result in several counter offers by the buyer and seller, but will usually result in a meeting of the minds when the deal is fair to both parties. As our client you are always kept in informed throughout the entire process. We always encourage our clients to ask questions.
- Step 5: Attorney Approval, Inspection, Appraisal & Title Work – Once the contract is agreed upon by the buyer and seller the contract may receive a final attorney approval. A property Inspection is typically scheduled within a week of the accepted offer. The property inspection is paid for by the buyer and the buyer will choose who they will like to perform the inspection. A property inspection is not mandatory, but is always highly recommended. Having a property inspection allows the buyer to cancel the contract if they feel the repairs are too great or they can negotiate with the seller to fix the issues at hand or request a credit from the seller to the buyer at closing. The Appraisal is completed by a certified appraiser that your lender will schedule to go out to the property. The appraisal is done to verify the home is worth the sale price that you, the buyer, and the seller have agreed on. The last step before closing is the Title Work. The title company will check for any liens against the property, confirm ownership and prepare the closing statement. Througout this process as your Buyers Agent we will work with you to be sure that you are fulfilling the items required by your lender and the attorneys. Shellstar Realty will not walk away after the contract is signed and wait to receive a commission check. Our first priority is always you, our client.
- Step 6: Closing and Moving In! – Once the inspection and appraisal have been completed you will work closely with your lender to complete the loan process. Again, as your Buyers Agent we will be there at every step to help you become a home owner. Typically during the last 1 to 2 weeks of the process the following will occur:
- Lender will order the final documents (this is the “true” indication of loan approval)
- Once all title work is complete a clear to close is typically issued
- A closing date with all the attorneys is scheduled
- Funding will occur on the closing date
- As the buyer you are required to come to the closing with a certified check for any closing cost fees
- The closing documents will be recorded at the county
- You receive the keys to your new home!!
Whether you are a 1st time home buyer or you are a veteran buyer let ShellStar Realty use their experience to help you buy the best home for you in the Southwest Florida area. A informed buyer is a prepared buyer, and a prepared buyer turns into a happy buyer. Having a well laid out plan and understanding the process will help make the process an enjoyable and fun experience. Shellstar Realty will remain by your side from the beginning of the process to the actual closing of your new home.