Buying Your Home
We Are A Team of Matchmakers
Buying a home is one of the most important financial decisions of your life. You need a Realtor that understands the market and knows the area. At Jeff Joyner & Associates, our staff not only live in St. Petersburg, we’re all natives. We know the neighborhoods, parks, schools and waterways, better than any other Realtor in town. When it comes to our knowledge of the area, there’s little left to mystery.
Choose A Realtor With Experience
Why We Are Unmatched
- Intimate Knowledge In The Community That Interests You
- Experience With All Local & State Requirements Related To Your Transaction
- Strong Face To Face Negotiation Skills
- Access To Multiple Education & Technology Focused Tools
- Quick Response To All Communications By Phone, Email & Text
The Home Buying Process
We Are Here To Guide You Through This
Step 1 – Deciding To Buy!
Although there are many good reasons for you to buy a home, home ownership becomes an investment that lays the foundation for a life of financial security and personal choice. There are solid financial reasons to support your decision to buy a home. Among these, equity buildup, value appreciation, and tax benefits stand out.
Base your decision to buy on facts, not fears!
1. If you are paying rent, you very likely can afford to buy
2. There is never a wrong time to buy the right home. All you need to do in the short run is find a good buy and make sure you have the financial ability to hold it for the long run
3. The lack of a substantial down payment doesn’t prevent you from making your first home purchase
4. A less-than-perfect credit score won’t necessarily stop you from buying a home
5. The best way to get closer to buying your ultimate dream home is to buy your first home now
Buying a home doesn’t have to be complicated – I am dedicated to guide you through the process!
Step 2 – Have Me Represent You!
The typical real estate transaction involves at least two dozen separate individuals – insurance assessors, mortgage brokers and underwriters, inspectors, appraisers, escrow officers, buyer’s agents, seller’s agents, bankers, title researchers, and a number of other individuals whose actions and decisions have to be orchestrated in order to perform in harmony and get a home sale closed. It is my responsibility to expertly coordinate all the professionals involved in your home purchase and to act as the advocate for you and your interests throughout.
My commitment to you:
Educate you about your market.
Analyzes your wants and needs.
Guide you to homes that fit your criteria.
Coordinate the work of other needed professionals.
Negotiate on your behalf.
Check and double-check paperwork and meet deadlines.
Solve any problems that may arise.
Step 3 – Secure Financing
While you may find the thought of home ownership thrilling, the thought of taking on a mortgage may be downright chilling. Many first-time buyers start out confused about the process or nervous about making such a large financial commitment.
From start to finish, follow a six-step, easy-to-understand process to securing the financing for your first home.
1: Choose a mortgage specialist.
2: Make a loan application and get pre-approved.
3: Determine what you want to pay and select a loan option.
4: Submit to the lender an accepted purchase offer contract.
5: Get an appraisal and title commitment.
6: Obtain funding at closing.
Step 4 – Finding Your Perfect Home!
You may think that shopping for homes starts with jumping in the car and driving all over town. And it’s true that hopping in the car to go look is probably the most exciting part of the home-buying process. However, driving around is fun for only so long – if weeks go by without finding what you’re looking for, the fun can fade pretty fast. That’s why we say that looking for your home begins with carefully assessing your values, wants, and needs, both for the short and long terms.
Questions to ask yourself:
What do I want my home to be close to?
How much space do I need and why?
Which is more critical: location or size?
Would I be interested in a fixer-upper?
How important is home value appreciation?
Is neighborhood stability and priority?
Would I be interested in a condo?
Would I be interested in new home construction?
What features and amenities do I want? Which do I really need?
Step 5 – Make an Offer!
When searching for your dream home, you were just that – a dreamer. Now that you’re writing an offer, you need to be a businessperson. You need to approach this process with a cool head and a realistic perspective of your market. The three basic components of an offer are price, terms, and contingencies. Price – the right price to offer must fairly reflect the true market value of the home you want to buy. Your agent’s market research will guide this decision. Terms – the other financial and timing factors that will be included in the offer.
Terms fall under six basic categories in a real estate offer:
Schedule – a schedule of events that has to happen before closing
Conveyances – the items that stay with the house when the sellers leave.
Commission – the real estate commission or fee, for both the agent who works with the seller and the agents who works with the buyer.
Closing Costs – it’s standard for buyers to pay their closing costs, but if you want to roll the costs into the loan, you need to write that into the contract.
Home Warranty – this covers repairs or replacement of appliances and major systems. You may ask the seller to pay for this.
Earnest Money – this protects the sellers from the possibility of your unexpectedly pulling of the deal and makes a statement about the seriousness of your offer.
Step 6 – Perform Due Diligence
Unlike most major purchases, once you buy a home, you can’t return it if something breaks or doesn’t quite work like it’s supposed to. That’s why home owner’s insurance and property inspections are so important.
A home owner’s insurance policy protects you in two ways:
Against loss or damage to the property itself
Liability in case someone sustains an injury while on your property
The property inspection should expose the secret issues a home might hide so you know exactly what you’re getting into before you sign your closing papers.
Your major concern is structural damage. Don’t sweat the small stuff. Things that are easily fixed can be overlooked. If you have a big problem show up in your inspection report, you should bring in a specialist. If the worst-case scenario turns out to be true, you might want to walk away from the purchase.
Step 7 – Closing!
The final stage of the home buying process is the lender’s confirmation of the home’s value and legal statue, and your continued credit-worthiness. This entails a survey, appraisal, title search, and a final check of your credit and finance. I will keep you posted on how each if progressing, but your work is pretty much done.
You just have a few pre-closing responsibilities:
Stay in control of your finances.
Return all phone calls and paperwork promptly.
Communicate with your agent at least once a week.
Several days before closing, confirm with your agent that all your documentation is in place and in order.
Obtain certified funds for closing.
Conduct a final walk-through.
On closing day, with the guidance of a settlement agent and your agent, you’ll sign documents that do the following:
Finalize your mortgage.
Pay the seller.
Pay your closing costs.
Transfer the title from the seller to you.
Make arrangements to legally record the transaction as a public record.
As long as you have clear expectations and follow directions, closing should be a momentous conclusion to your home-searching process and commencement of your home-owning experience.
Step 8 – Protecting Your Investment
Throughout the course of your home-buying experience, you’ve probably spent a lot of time with your real estate agent and you’ve gotten to know each other fairly well. There’s no reason to throw all that trust and rapport out the window just because the deal has closed. In fact, your agent wants you to keep in touch.
Even after you close on your house, you agent can still help you:
Handle your first tax return as a home owner.
Find contractors to help with home maintenance or remodeling.
Help your friends find homes.
Keep track of your home’s current market value.
Attention to you home’s maintenance needs is essential to protecting the long-term value of your investment.