Most first time home buyers have many questions and concerns.
For many buyers where to begin is the biggest step. It is important to find an agent that is not only experienced but is also patient and takes the time to answer ALL your questions and explains the ENTIRE home purchase process from getting prequalified thru closing.
As part of my consultation I recommend to my buyers that they get prequalified if they have not already done so. If you do not have a lender I can recommend several to choose from. A pre-qualifiation letter will let you know how much you can qualify for so that the proper homes are considered. Most offers will NOT be considered without a pre-qualification letter. This is the 1st step to home ownership-not looking at homes. Also it is important to discuss with your lender and agent what your available funds are for the purchase of your home. Minimum requirements for FHA is 3.5% of the sales price. In addition there are closing costs paid by the buyer which is usually another 3- 3.5% of the sales price. It is important that your agent work closely with you and your lender. Many times a transaction can be structured so that thru seller contributions and/or lender credits some of your closing costs including prepaids can be paid. Sometimes even all of the buyers closing costs can be offset (not all transactions can be structured in this manner). In addition there are some programs available that offer monetary assistance to buyers for closing costs/down payment. Most of the assistance programs have income and credit score guidelines that must be met as well as other requirements. I work with lenders that can see what assistance programs you may qualify for.
Once you have been pre-qualified home searches will be set up for you. Tools will be put in place so that your are notified as soon as homes become available meeting your criteria- this will give you the edge over other buyers. Homes in move in condition at or below market value usually sell in a few days from becoming available in many price points. It is imporant to receive prompt notification and to work closely with your agent. This is how together we will find the home that you are looking for. My website is updated directly thru MLS. Many online sites have incorrect or outdated information. If the home is not on my site its likely NOT available.
Martha Hernandez- BROKER, REALTOR®
Rachael Parianous - REALTOR®
Tampa Bay Elite Homes, LLC
(813) 391-7485 DIRECT
(866) 806-2353 FAX