Your Home Buying Process Made Simple!
If you’re interested in purchasing a home in Fort Lauderdale and you’re not sure what your next steps should be, use these home buying tips as a guide. If you have questions or need help, we are only an email or phone call away!
1. Obtain proof-of-funds or get pre-approved for a loan
- Meet with a loan officer to determine the price range of a Fort Lauderdale mortgage for which you are qualified. Generally the loan officer will ask you to share your income and other financial information. Let us know if you need a recommendation.
- Get pre-qualified.
- Obtain a pre-approval letter.
- Obtain a “Truth in Lending” letter explaining the costs of borrowing money.
- Learn about the loan options available to buyers in today’s market.
- Learn about closing costs.
2. Contact your Luxury Living Fort Lauderdale real estate agent
- Provide us with a copy of your Proof of Funds or Pre-Approval Letter.
- Share your new home wish list and allow us to help make the home buying process easier.
- When possible, all decision-makers should visit the various homes in Fort Lauderdale.
- Always be candid with your Luxury Living Fort Lauderdale Realtor — it will help us understand your particular requirements and enable us to select homes you’ll want to see.
3. Make an offer
- Your Luxury Living Fort Lauderdale Realtor will provide you with a list of comparable homes in order to assist you in making an informed decision.
- We will go through the contract with you and complete your offer.
- Negotiations will proceed until both buyer and seller agree on all terms and sign the contract.
- All documents will be sent to a title company where a file will be opened, and title commitment and property tax information are ordered.
4. Complete your loan application
- Give your loan officer a copy of the contract and apply for a loan.
- Get pre-qualified.
5. Have the property inspected
- Select an inspector and arrange for both a general inspection and wood-destroying insect inspection.
- Your Luxury Living Fort Lauderdale Realtor also can provide information about other environmental assessments
6. Appraisal and survey of property
- The lender and title company will make arrangements for the property appraisal and survey
- You will be provided a copy of the Title Commitment Letter
- You will need to make arrangements for homeowner’s (hazard) insurance at this point in the transaction, and arrange for the insurance agent to talk with the closing officer at the title company
7. Seller’s closing is also arranged
- You will receive a copy of the closing statement for review prior to closing
- You will perform a final walk-through inspection of the property
- Your Luxury Living Fort Lauderdale Realtor will schedule a closing date and time with you and Title Company. The Seller’s closing is also arranged at this time.
- You will need to provide a Cashiers Check for all closing costs and the balance of the down payment
8. After the closing
- Documents are sent to the buyer’s loan company for approval and funds are disbursed
- The title company receives and funds all money from the loan company. Payment of any accrued expenses in connection with the closing are due including taxes, attorney’s fees, professional real estate fees and title company fees
- Legal documents will be recorded in the office of the county clerk and mailed to the buyer
- Title company prepares and issues the title policy, and sends it to the loan company and new home owner
We hope these home buying tips are helpful. Purchasing a home should be a rewarding and pleasant experience. For many it is one of the biggest purchases of their life, which can make the process seem intimidating. Fear not! When you have the team at Luxury Living Fort Lauderdale on your side, you can be assured of the best experience possible. Don’t take our word for it, take a look at What Clients Are Saying. We’re pretty proud of our track record where 100% of clients have rated our service as “Excellent”!