Home Buyer Resource Guide

Two short lists before the first tour.

Must haves

Location, bedrooms and bathrooms, a firm top budget, parking or a garage. A home that misses one of these is off the list.

Nice to haves

A pool, a view of the water, a new kitchen, a larger lot. Most buyers give up one or two of these to stay on budget.

Send me both lists. They keep the search focused and keep a beautiful kitchen from pulling you into the wrong location.

• Your offer is based on data. Comparable sales, not the asking price, set the number we offer.
• Issues surface early. Open permits, flood zones, association finances, club requirements, roof age and insurance are all easier to deal with before you sign a contract.
• Negotiation covers more than price. Repairs, credits, dates and what stays with the home are all on the table, and I handle that for you.
• Deadlines are tracked. A Florida contract runs on dates, and missing one can put your deposit at risk.

My compensation is negotiable and agreed in writing before we start. Sellers often offer to pay some or all of the buyer’s agent fee, and we can ask for it as part of your offer.

A pre qualification is a quick estimate. A pre approval means the lender has checked your documents, and sellers treat it very differently. Get pre approved.

Documents your lender will want

• Recent pay stubs and two years of W2s (or two years of returns if you own a business)
• Recent bank and investment statements
• A photo ID
• Anything else they request. Quick answers keep your closing on schedule.

Until you close

• Hold off on new cars, financed furniture and new credit cards
• Avoid changing jobs if you can
• Avoid large deposits you cannot document

Any of these can hold up or undo a loan approval. Keep things quiet until the keys are yours.

Your lender will give you exact figures. These are the categories to plan for.

• Escrow deposit. Held by a third party once your offer is accepted, and credited back to you at closing.
• Inspections. A home inspection, plus wind mitigation and four point inspections when they apply.
• Appraisal. Your lender orders it.
• Closing costs. Loan fees, title, and prepaid taxes and insurance, often in the range of two to five percent of the price.
• Insurance. Homeowners insurance, and flood insurance for homes in a flood zone. Get quotes early.

• Flood zones. Much of coastal Palm Beach County is in a mapped flood zone. The zone and the elevation affect insurance, so I check both for every home you consider.
• The roof. Insurance companies look closely at roof age. An older roof can raise the premium or make coverage hard to find.
• Wind mitigation and four point inspections. Short inspections that can lower your insurance premium, and usually worth the cost.
• Association, condo and club rules. Many associations require an application and approval before closing. Condos have budgets and inspection reports to review, and some club communities require a membership to buy. I get these documents and go through them with you.
• Seasons. The market is busiest in winter and spring, and planning around that can help.

Before the move

• Schedule utility shut offs and give a forwarding address
• Submit a change of address with the post office
• Request medical, dental and vet records and refill prescriptions
• Stop or move deliveries and subscriptions
• Have wire instructions or a cashier’s check ready for closing
• Bring a photo ID to closing

After you move in

• Transfer FPL, water, internet and trash into your name before closing day
• Update your driver’s license and vehicle registration
• Update your voter registration
• File for homestead with the county property appraiser by March 1 if the home will be your permanent residence
• Rekey the locks and test the smoke detectors

A lender, an inspector, a title company and an insurance agent. I can give you names of local professionals my clients have used.

The choice is always yours, and you are free to compare and hire anyone you like.