For Buyers
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"It's a great time to be a Buyer!!"
Right now, in 2007, it is a terrific time to be buying Ft. Lauderdale or Pompano FL Real Estate! After more than 6 years of a strong Seller's market, the Buyers now, at last, have the upper hand in negotiating to an acceptable Contract. There is a huge inventory of properties, and Closings are down more than 25% from 2005. Many Sellers are highly motivated to make a deal, and finally get their properties sold. And, interest rates are still at near historic lows...averaging in the mid 6 percent ranges. Interest rates must ultimately rise, so now is the time to assure long term savings in your housing costs. And, there are wonderful values to be found, when you work with a Realtor who is dedicated to finding the best buy for you! But, don't make the mistake of waiting so long to buy, that higher interest rates eat up any savings in the purchase price. Timing the market, whether Wall Street, or Main Street, is not a science...few recognize where the "bottom" is, until it has already passed by!
Buying a home is an exciting time in one's life. Making the smart move of choosing a Ft. Lauderdale or Pompano Real Estate Consultant, is your first step to ensuring that your new home and community meets your needs. My services and experience will enhance your Pompano Florida Real Estate experience. And, I'll do my best to serve you...from tips on finding financing, to helping you find thst great home that fits you perfectly. For your convenience, I also provide listings by email. I pride myself on repeat business and hope you'll come to understand why.
How I Can Help
Before you start looking
Closing Costs
As Your Real Estate Consultant for Life!, I Will:
- Assure that you review all the properties that meet your criteria. You can select the ones that best fit your ideals, and we can schedule time to personally visit those choices.
- Guide you through the entire home buying process, from finding homes to look at, to getting the best financing.
- Advise you against paying too much for your new home and help you avoid costly mistakes. An experience Pompano FL Real Estate Consultant, like me, is invaluable in foreseeing future problems, (and preventing them!)
- Answer your questions about the challenging Ft. Lauderdale Real Estate market, and give you information about schools, neighborhoods, the local economy, local attractions, and more.
Before You Start Looking For Your New Home:
- You need a financing letter in hand before starting to visit properties. This will assure that you are ready to make a strong offer when you see the right property. Prearranged financing will assure that you are shopping in the right price range, and that you are ready to buy. And, in this new Buyer's market...the motivated Seller will be more inclined to negotiate, seriously, with a pre-qualified Buyer.
- Check your credit rating. Straighten out any errors before its too late. Consult a mortgage professional well before you expect to begin visiting properties. The old saying is: "have your ducks in a row", and in home buying, prearranged financing is essential.
- Determine a comfortable monthly budget for your new purchase, including down payment and monthly payment.
- Find a loan program that meets your needs and get pre-qualified (preferably pre-approved).
- Choose a Real Estate Consultant that you trust, and who understands your needs. Choose a Real Estate Consultant who understands that a Real Estate transaction is alot more than a trip to the bank with a commission check! If the Buyers' needs and expectations are met, then the payday is a bonus, but not the purpose of the transaction...that's my philosophy!
- Determine what neighborhood best matches your needs.
- Identify important features you need your new home to have.
- Lender fees include charges for loan processing, underwriting, preparation and establishing an escrow account. Your Lender will give you a "Good Faith Estimate" which will estimate very closely, all of the costs of acquiring your mortgage, and the costs of Closing the Pompano Real Estate transaction.
- Title Insurance is required by Lenders, and this charge is paid by the Buyer. This is protect all parties against possible errors, or even possible fraud, in the chain of title of the property.
- Third-party fees include charges for insurance, Closing Agent fees and title search, and for appraisal, survey, and home inspections, including termite, seawall, and general home inspection. Any special inspections (mold, radon gas, etc.) are paid by the Buyer, and must be completed within specified deadlines. And, most Brokerages now have a "Transaction Fee" with is an offset for the costs of government regulations in connection with your transaction. Some brokerages charge up to $350 for this fee. Our Brokerage "Transaction Fee" is $195.
- Government fees include deed recording and state & local mortgage taxes.
- Escrow and interest fees include homeowner's insurance, loan interest, real estate taxes, and occasionally, private mortgage insurance. Some "prepaids" of taxes, insurance, and even interest my be required by your lender. And some Associations may require advance deposit of fees...a sort of security deposit.
