The Homebuyer’s Checklist

The Homebuyer’s Checklist

If you are a first-time homebuyer in Florida, a checklist can be a valuable tool that will help you focus on the most critical tasks you will need to complete during the home buying process.

Buying a house with the help of our homebuyer’s checklist can help you in many ways. Read on to learn what you need to do.

1. Choose a Realtor – Your Greatest Ally

If you are a first-time homebuyer, you should work with a realtor, as their knowledge and expertise are can be extremely valuable when it comes to closing on the home of your dreams. An experienced realtor will help you through various aspects of the home buying process, such as:

• • Getting prequalified for a mortgage with preferred lenders,
  • Determining a fair purchase price for the property that you intend to buy, and
  • Finding the right property for your needs and budget.

To find a reputable realtor, you can seek personal recommendations, conduct thorough online searches, or find industry referrals from companies such as Marina Title.

2. Find the Right Lender (if you need one, of course)

If you are a first-time homebuyer, then you probably do not know how to find a suitable lender for your real estate purchase; however, you should not worry, as you should be able to obtain a referral to a good lender from your realtor. Keep in mind that making the right choice here can save you thousands of dollars in the future. When looking for a lender, be sure to:

• • Carefully review the terms of each lender with your realtor and/or accountant.
  • Choose a lender with low closing fees and a relatively low interest rate.
  • Request loan estimates to compare different lenders.

3. Review Your Finances – Maintaining a Good Credit Score is Key

Once you have chosen a lender, they will begin monitoring your account. If your lender finds out that large amounts of money have been spent or have come into your account from questionable sources, you may end up losing their approval. A good way to avoid this is to have the required down payment in your account and leave it there until it is time to close on your new home.

Other steps you should take include:

• • Obtaining a pre-approval for your loan,
  • Avoiding large credit purchases, and
  • Avoiding transactions that could affect your credit score.

4. Find the Home of Your Dreams… but Dream Smart

As a first-time homebuyer, you must be careful when it comes to choosing the right home in the right location, as no matter how pretty the house you choose is, the neighborhood where it is located will have a big impact on your lifestyle and the equity the property could provide in the future. When choosing a home to buy, work closely with your realtor to make the best possible choice.

5. Brace Yourself, Breathe In Deeply… and Make an Offer

A homebuyer who does not want to be rejected by several sellers and end up losing the home they have fallen in love with should follow these crucial steps:

• Make an offer within 24 hours upon finding the home you would really like to buy,
• Let your realtor guide you when making an offer, especially for homes with high competition,
• Follow local real estate trends, as most sellers do not like complicated offers that vary too much from the norm.

6. Choose a Title Company

As a homebuyer, the most important step you can take to have a smooth closing experience that is free of headaches is to hire a Title Company like Marina Title to help you handle all aspects of the closing process, including:

• • Examining the title for liens, judgments, and encumbrances,
  • Issuing a title insurance policy to protect your ownership rights,
  • Coordinating the closing process with you and the seller, and
  • Ensuring you have an engaging, professional, and memorable closing experience.

Are You a Homebuyer in Florida? Get in Touch

The good news is that choosing the right Title Company is far easier than choosing a lender or a realtor. In fact, there is only one step you need to take: call Marina Title today at (305) 901-5628 or send us an email to [email protected] to schedule an initial consultation.