How to Simplify the Home Buying Process

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How to Simplify the Home Buying Process

1. You should plan ahead. Start by requesting a copy of your credit report. Click here to learn more about your credit report today. Once you receive the report you should examine it carefully for errors and begin cleaning up any negative issues before you talk with a lender about a home mortgage loan. Sometimes the credit repair process can take 6 months to a year so order your credit report as early as possible to avoid delays in buying. During the planning process also consider where you see you and your family in 5-7 years. Will your family still be growing, will a relative need to move in with you, will you be working from home? Qualifying for a loan can sometimes be challenging, but we are here to help you so give us a call at 352-622-3963 to receive your list of professional lenders in our area.

2. Understand the home buying process. You should always ask lots of questions. As experienced buyers agents we are prepared to answer all your questions and address any concerns you may have. We are best qualified to explain the buying process. From viewing homes, negotiating the best price, finance and escrow, to the closing, in a simple to understand explanation. After all, no question you have should be a small matter. In today's world, Real Estate practices have changed and no two real estate agents operate alike. Real estate has become more specialized. Agents today are held to a higher ethical standard making them more accountable for their actions. Buyer's often feel the need to be reserved and on guard when dealing with a real estate agent. After several years of revising the Florida Statutes and laws for real estate licenses you can now take charge of how you choose to be represented in a Florida Real estate transaction. Learn more about this important law by reading the information provided on the Disclosure page. You can now choose to have a buyer's agent working to protect your interest, listening to your needs, guiding you in matters of finance, inspections, and closing issues. The bottom line is you do not pay any fees or commissions to us. The commission is paid by the seller when he negotiates the commission percentage with the listing agent. We are members of the Ocala Marion County Multiple Listing Service and Association of Realtors. All other Realtors in the area agree to work with us and share their listing commission with the buyer's agent at closing, thus we get paid for all our hard work and it didn't cost you a penny.

3. Budget is important. You should stay within 5-6% of your home buying budget. Looking at homes before you know your price range is not a smart way to start your home search. It's okay if you are looking to buy shoes or cars, but not houses. Looking at homes over your buying range is a total waste of your time, the seller's time, both agents time and you could risk missing out on a home that really fit your needs, if you had spent that time looking at homes in your price range. We can arrange for you to view homes within your pricing range. We are dedicated to helping you, keeping you focused and within your budget. If we see your housing needs and your housing expectations are higher than your budget will allow, we know how to help you get into a home that will best suit you and your family. Buyer's get loan approvals from lenders that often tap their finances to the maximum regardless of your ability to pay, so always keep an open mind and be realistic of your financing options. Taking the time to get 2 or 3 financial quotes is highly recommended and doesn't have any impact on your credit score or wallet. We highly advise against giving a lender any money up front until you are certain that person is going to deal honestly, fairly, ethically, and professionally with you throughout the process. The bait and switch game is common in the lending market so Buyer Beware.

4. Don't let emotions buy your next home. Buying a home is a very emotional process so remember to buy with your head and not your heart. Okay, so what if the house is the wrong color, you can't get past the purple carpet, the front door is red or the large tree in the back yard is hanging over the house. All those things are called cosmetic and can be changed to suit your own likes and dislikes. Statistics show buyers make cosmetic changes before moving into their new home. So you should not let cosmetic issues cloud your thinking process. Your focus should be on more serious issues, like will this work for my family, what about location, or will you be comfortable living here. Getting caught up in the "heart decision" works to your worst advantage. Buyer's can't see the forest for the trees is the old saying. You should leave your emotions in the car and enter the home with an open mind when at a showing. After all, you haven't moved in yet and made your personal touches, so most homes won't be to your liking cosmetically. Try to remain objective and remember buying a home is much more than the perfect carpet, a to die for master bath or gourmet style kitchen.

5. You don't know the best area to buy your next home. That's where our services are of the most value to you the home buyer. It is our job to know future development plans, schools, and much more. The listing agent may not tell you the train runs every hour on the hour 4 blocks away or you may never see the industrial park a few blocks away. You think the neighborhood looks okay now, but are there any warning signs the neighborhood will be changing in a few years? To determine if an area is right for you a buyers agent will provide you with resources so you can find out about demographics, crime and future growth. You can't count on the listing agent or anyone in their office who introduces themselves as a buyer's specialist to deal honestly and fairly with you the buyer. They represent the seller regardless and must get the best price possible for their seller by law.

6. Look out for financing pitfalls. They can be costly mistakes. Understanding the loan process can be difficult in the best situation and any buyer should always be on constant watch for financing pitfalls. The amount of homes that go into contracts and don't close due to lender or buyer fault is a staggering percentage. It cost the consumer thousands which they may never recover. A professional lender should offer in writing your lock-in rate of interest, points and fees. You should also receive a GFE (Good Faith Estimate) at the time the application is processes. The average closing cost run between 3-6% of your loan amount and can be based on things in your credit past.

We are able to provide you with a list of professional lenders in the area who are dedicated to making sure you avoid the financial pitfalls so many buyers find themselves trapped in after the contract is signed and a legally binding document. As your buyer's agent we work closely with your lender to ensure your loan process is handled properly, we keep you informed of any concerns we may have and provide copies of all contract documents to the lender, title agent and listing office.

7. Most important! Remember to call us when you are ready to buy your next home. You won't regret your decision to make us your buyer's agent specialist. We guide, educate and protect your interests. Our services are free to you! There are no commissions or service fees involved so you have nothing to loose. Give us a call when you need a professional to help you buy your next home. Steven and Vickie Whitaker promise you won't be sorry you chose them as your buyer's agent.

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