ThereseClapp.com

 
       
 
Realtor® Broker/Owner                                                  DEMONSTRATED COMMITMENT TO
                                                                                                              THE REAL ESTATE INDUSTRY   


"Your Neighborhood Realtor®"
   
SW Florida Global Real Estate Group

Home Purchasers

Buying a Home Can Be Overwhelming

If you’re preparing to make the step, take a look at five items before getting started.

Financing - The largest worry for most buyers is borrowing and obligating themselves to repayments for the future.  Be certain that you do have some power and you do not have to use your bank just because you have always banked with them.  See more than on bank and get many quotes.

Time - Is sometimes one of the biggest things buyers do not know about and it plays a huge aspect in the entire procedure of purchasing. From deciding to purchase, to getting the keys, buying a house is a huge "time" investment.

Real Estate Agent -  When buying a home, you need a licensed real estate professional.  Buying seems like an easy thing to do, but behind the scenes, there are a lot of actions, searches and checks that need to be performed before you can purchase.  Your licensed real estate professional takes care of this for you.  The best idea, if you haven’t used a licensed real estate professional before, is to use someone who is skilled and educated in the field of real estate (look for commitment through designations, certifications and continuous education).  Then you know you can trust them, their advice, and their commitment to your purchase.

Property Inspection - Have the property inspected. While a property may look good, it’s difficult to know any faults of ongoing problems without having a professional inspection done.  While this is an additional cost, it could save you a fortune in repairs later, or worst case, paying for a property that can’t be lived in.

Other Expenses - Don’t be fooled into thinking that paying your deposit, the balance of rates, bank fees and building inspection are the last of the expenses. Beyond this, you will need home and often mortgage insurance, stamp duty and other fees associated with your loan.

Remember to contemplate on more than just the deposit to get over the line, and work out completely what you expect to pay before you decide on the home to purchase.



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The Process

What you can afford depends on your income, credit rating, current monthly expenses, downpayment and the interest rate.
 - Home Economics
 - Homebuying programs in Florida

Know Your Rights
 - Borrower's rights
 - Fair Housing: Equal Opportunity for All

Loan Shopping
 - Looking for the best mortgage: shop, compare, negotiate- brochure
 - Let FHA help you
 - Learn about interest only loans

Home Buying Programs
 - Homebuying programs in Florida
 - Let FHA help you (FHA loan programs offer lower down-payments and are a good option for first-time home buyers!)
 - HUD's special homebuying programs
 - Good Neighbor Next Door(formerly known as Teacher/Officer/Firefighter Next Door)
 - Homeownership for public housing residents
 - Indian Home Loan Guarantee Program(Section 184)

Home Shopping
 - Home-shopping checklist
 - Fixer-Uppers
 - Wish list

The Offer
 - Making an offer

Homeowners Insurance Shopping
 - Homeowners insurance
 - 12 ways to lower your homeowners insurance costs




For more information, please visit:  Hud.Gov
U.S. Department of Housing and Urban Development