Buying a new home in South Florida!

Buying a home is stressful for a lot of people, but with a little up-front planning, it's not that difficult. So they'll understand exactly what to expect, I will provide buyers with an outline of the entire deal. Here are my nine steps to purchasing a home. If you have questions regarding this information or if you're ready to get started, simply contact me here or e-mail me at mimimanginesrealtor@gmail.com 

Step 1 – Get ready to buy
Before you begin looking for a home, there are a lot of things you should do. It's likely that you'll want to create an outline of items you need to have, plan for what school districts and neighborhoods you'd like to live in, and start working on your budget. Keeping your mortgage payment around 30 percent of your monthly income is a good principle to follow.

Step 2 – Get in touch with a real estate agent
This is where I come in. We can book a time to meet so we can talk about your real estate needs and get an idea of your future plans. We'll talk about neighborhoods, schools in the local markets, the mortgage and housing industries, and any other economic factors that might affect your purchase today or in the future.

In addition, I'll help you get started on your loan. There are some great mortgage professionals in South Florida, and I partner with a lot of them, so you're in great hands. They can help you choose which kind of loan is best for you, as well as help you get qualified.

Step 3 – Start house-hunting
Following our initial meeting, I'll start searching for available houses on the market that best suit you. I'll preview most of the homes and eliminate the duds, and then we'll schedule appointments to view the homes when it's convenient for you.

As we tour homes, I'll show you the positive features and bad ones. I'll also ask you to talk about things you like and dislike. It's common for buyers to change their list of must-haves as we view houses and some things become more essential than others. If that happens, I'll search the listings again and narrow it down to the home you've been dreaming about.

Step 4 – Understand the housing market
My knowledge of the local market is a leading aspect in your home search. I am mindful of all the school districts and neighborhoods, and I will let you know certain districts are "hot" and require immediate action and some that are "cold" and allow for thoughtful analysis.

When we view homes, I'll make sure to communicate when the asking price has room for negotiation and also when I know the house is "priced to sell." When working with an agent, be on guard and be sure to ask a lot of questions, as every realtor will claim to truly know the market. If it doesn't seem like they know the answers to your questions, contact me at 561.445.2836 or e-mail me at  mimi.mangines@compass.com and I'll be more than happy to answer your questions!  My knowledge of the market will keep you a step above the rest throughout the entire process!

Step 5 – Find the home of your dreams
We'll find your dream house, and when that happens, I'll meticulously create your home purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies. A few examples are obtaining financing, completing the inspection, and a clear title.

When turning in your purchase offer, you'll probably need to present "earnest money." This is a cash deposit submitted to a seller to secure the offer to buy the property and is typically put towards the cost of closing. If the seller accepts your offer, we should close on the home about 30 to 60 days afterward. This allows ample time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts don't close on the initial offer. It's really common to receive a counter offer. But don't let it discourage you. We'll consider whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.

How aggressively we negotiate the contract depends on the state of the market. In addition, we'll work within your financing budget. And at the end of the day, we'll assemble a contract that is best for you.

Step 7 – Obtain your loan
After the deal is complete, you'll begin working with your mortgage lender to close the loan. If you've been pre-approved, this shouldn't take much time at all, but you'll need to stay in close contact with your lender. And I'll take care of all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) outlining closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of accepting your loan application. This estimate depends on the loan amount, and RESPA requirements order that it has to include all closing costs and fall within a tight range of accuracy. I'll analyze the estimate and let you know if everything looks okay.

Then it's time to close on your house. This will most often occur at a title company or escrow office and will likely be a smooth and hassle-free occasion.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, be sure to contact me at 561.445.2836 or e-mail me at mimi.mangines@compass.com