Buying

Buyer Checklist

  1. Meet with your mortgage broker to get pre-approved prior to your home search.  Your pre-approval letter must be submitted with all offers.
  2. Continue to pay your bills on time and keep your credit clean, your lender will run a credit check before closing to confirm your credit obligations have not changed.
  3. Ensure your down payment and closing funds are immediately available when you go to contract, if not sooner.  You may need to show proof of funds (bank statement) with your offer.
  4. DO NOT make any large purchases during the buying process; hold off until you close the deal.  This includes automobile purchases, furniture, electronics, etc., and do not open any new credit accounts.
  5. Be aware that there may be multiple offers on the property on which you make an offer.  The seller is under no obligation to negotiate offers in the order received and it is at the sellers’ discretion as to which offer they accept, reject or negotiate.  Do not assume your offer has been accepted until a fully executed contract has been delivered.
  6. You should pay attention to any visual signs of the presence of mold or the presence of mildew odors when viewing properties.  Consider adding a provision to any contract that gives you the right to conduct a mold inspection to determine whether mold is present.
  7. We recommend that you exercise your right to inspect the property using a licensed inspector for each type of inspection needed, comprehensive home inspection, 4 point inspection, mold inspection, termite and wind mitigation.   The wind mitigation inspection is highly recommended in order to save a considerable amount on your homeowner policy.
  8. Many properties in South Florida are governed by Condominium or Homeowner Associations and property owners are subject to following the rules and regulations of the association.  As a prospective buyer, you may be required to submit an application for approval to the association and attend an interview.
  9. If school boundaries are important to you, contact the local school board directly to verify the current school boundaries for a particular property prior to entering into contract.   
  10. Do not rely on the sellers’ current property tax assessment on the property.  A change in ownership may trigger reassessment of the property and could result in higher property taxes.   Florida law provides a cap on the annual assessment increase on homestead property equal to 3% or the annual increase in the Consumer Price Index, whichever is less; however, this cap only applies after the reassessment to market value has been made.  Contact the Property Appraiser’s Office for additional information.

Ginny, your professionalism and knowledge as well as your genuine courtesy has by far out-shined any of your peers.  I certainly will recommend you to anyone who needs a future Realtor.

- David S.

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