Essential Steps for Working with a Realtor to Find Your Dream Home
Discover the important aspects of working with a realtor, from understanding the role of a realtor to choosing the right one based on knowledge, experience, communication, honesty, and integrity. Learn how to determine the type and location of your future home, discussing various options and the home buying process from contract to closing.
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Working with a Realtor Working with a Realtor Lori Rivera UF Master Money Mentor
About a Realtor/ About a Realtor/Realtist Realtist Code of Ethics/Core Law: Belong to a recognized Board and have continuing education requirements -licensee/investors/sellers do NOT For a Good/Great Realtor finding the house is a small percentage of what they do Know When and How to Negotiate
About a Realtor/ About a Realtor/Realtist Realtist Set of rules and pool of knowledge-their broker, local board, state (DBPR-RE division) and national levels, holistic approach Realtor generally not paid until after you close
How to Choose a Great Realtor Knowledgeand Experience-Designations, Education, Familiar with the type of financing and DPA that you are using? Attitude-clients goals ahead of their own? Accessible-are they available when you are?
How to Choose a Great Realtor Communicate-Keep client informed, Answer YOUR questions, Anticipates , Responds to calls, texts, e-mails promptly in the way most comfortable for you Honestyand Integrity-Protect Clients interests ALWAYS
Determine type and location of Your Home Make a list of your priorities, ie yard, close to work, HOA, no HOA, schools, extracurricular activities, time frame to move Determine what type of home will work within confines of loan, ie condo, SFH, townhouse
Determine type and location of Your Home Discuss locations-be open to new and different options Type of transference-Homeowner, Short sale, Foreclosure(auction)
The Contract-In a perfect world Determine the market, get CMA, submit EDUCATED offer Inspection (15days?) Make deposit Apply for loan(5 days) Offer accepted Research Insurance (3days) Closing Docs(3 days before) Pre-Close Walk thru Appraisal Sign Docs Utilities
For your Protection get a Home Inspection Questions to ask your Home Inspector: What type of inspections is he qualified to do? (First time Homebuyer, New Construction, WDO, Septic, Pool, Wind Mit, 4 point, VA, Reno loan- HUD Consultant)
For your Protection get a Home Inspection Questions to ask your Home Inspector: Is he/she ASHI or NACHI Certified? Is there a package cost? If so what does it include? If your contract is accepted, how long will it take to schedule?
Real Life Negotiation Offer Price, Market conditions, SOLD properties May need to negotiate with Seller Escrow Deposit-How to communicate that you are a serious contender usually $1,000- 1 % of purchase price
Real Life Negotiation Two Contingencies: A) Inspections (Average $500) - - Full, WDO, Wind Mit, 4 point, etc. (up to 15 days) HOA or Condo Docs (3 days) B) Financing, Appraisal(Average $450)
Real Life Negotiation Home Warranty: minor repair and appliances($500) Closing Costs: 3-6% of purchase price
What affects the cost of your Homeowners Insurance? The Home, Detached Structure, Contents Replacement Cost vs Cash Value Geography(Flood Zone, etc) Type of construction and fire protection
What affects the cost of your Homeowners Insurance? Liability Protection Your credit score Size of your deductible Discounts The company you choose
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