buyer tips: ARE YOU COMMITTED?
- 10/29/12 12:18 PM
The anatomy of a Buyer's offers tells the story - Is the deposit already with the Broker, or will it be collected in 2-3 days?
What about the deposit amount - is it a measly $500, $1000, or a generous 3% or more?
Is there a competitive edge present - tightening the inspection deadlines, possibly the loan commitment deadline, and a willingness to flex the closing date to accommodate the Seller? Or does the Buyer want to drag out the closing date as long as possible, 60 or 90 days?
Is it a 'clean' offer, or is it filled … (4 comments)
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buyer tips: THE FIVE CARDINAL SINS FOR BUYERS
- 06/15/12 11:05 AM
THE FIVE CARDINAL SINS FOR BUYERS 1. MAKING A LARGE PURCHASE. 2. QUITTING YOUR JOB. 3. PAYING OFF A COLLECTION. 4. CLOSING A CREDIT LINE. 5. OPENING A NEW CREDIT LINE. Once a Buyer enters the loan underwriting box, the best advice is not do change ANYTHING with their financial picture. Banks look at the ratios of debt to income, reserves, credit scores, job history, and who knows what else? Sometimes it feels like blood type, paternal lineage, and Facebook page go into the mix. What many first time homebuyers do not realize and even seasoned buyers or owners re-financing their … (11 comments)
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buyer tips: WHY ARE CONDO PRICES SO LOW IN JACKSONVILLE FL? BUYERS FAQ
- 06/10/12 02:01 PM
WHY ARE CONDO PRICES SO LOW IN JACKSONVILLE FL? BUYERS FAQ This was a question asked on another forum today, and we thought it was perfect to answer on ActiveRain as well. Why are condo prices so low in Jacksonville FL? Let's start back at the beginning. In the real estate boom, condominium projects were building fast and furiously. But not fast enough. Developers were converting apartments to condominiums, called "condo-conversions." Many of those developers for both new construction condos and condo conversions, did not choose to apply for FHA Eligiblity. Why spend the money and time when 100% conventional … (0 comments)
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buyer tips: WHEN CAN I MOVE INTO MY HOME? BUYERS FAQ
- 06/09/12 01:45 PM
WHEN CAN I MOVE INTO MY HOME? BUYERS FAQ When we are looking at homes, Buyers may notice that some homes for sale offer Occupancy on the Day of Closing, and others prefer 3 Days After Closing. Some say Negotiable.
So when can you move into your new home?It is one of the terms we negotiate when we write an offer. Sometimes Sellers who say they want 3 Days After Closing are willing and able to give Occupancy the day of closing.
There is another factor to consider when asking this question. When will your loan fund? There are instances … (23 comments)
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buyer tips: WHEN WILL WE KNOW IF WE HAVE A CONTRACT? BUYERS FAQ
- 06/09/12 01:31 PM
WHEN WILL WE KNOW IF WE HAVE A CONTRACT? BUYERS FAQ When you find the house you really like and want to buy, we will write an offer to present to the Sellers. After that, most real estate agents negotiate back and forth verbally until an agreement is reached. Then one of the agents (usually the Buyer's agent) has their Seller or Buyers make the changes to the contract and send them back to the other party for signatures/initials. Another way of doing it is having the Buyer's agent draw up an Addendum with any terms that have changed since the … (0 comments)
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buyer tips: WHAT IS A HOMESTEAD EXEMPTION? BUYERS FAQ
- 06/09/12 01:15 PM
WHAT IS A HOMESTEAD EXEMPTION? BUYERS FAQ When you buy a home in Florida, there is a gift for you!
Aside from no state income tax, we have an Ad Valorem Tax Exemption available to primary residents called a Homestead Exemption. It saves about $750 a year on Property Taxes and must be applied for by March 1 of the year you want to claim the Exemption. Once you have filed for Homestead Exemption, it will continue from year to year until you move and claim another primary residence. You may only have one primary residence in the State of … (2 comments)
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buyer tips: WHY SHOULD I SECURE MY HOMEOWNER'S INSURANCE NOW? BUYERS FAQ
- 06/08/12 01:13 PM
WHY SHOULD I SECURE MY HOMEOWNER'S INSURANCE NOW? BUYERS FAQ Florida is a fickle state with weather - they say if you don't like the weather, wait five minutes. Florida is also a state with a lot of opportunities for 'named storms.'
When a named storm is 500 miles from the coast of Florida (they call this 'in the box'), then all homeowner's insurance underwriting is suspended until the storm passes. Insurance companies do not want to risk a major storm hitting our shores just having written tens to hundreds of new policies.
Hurricane season begins June 1 through … (15 comments)
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buyer tips: WHY SHOULD I USE YOUR INSURANCE AGENT? BUYERS FAQ
- 06/07/12 12:21 PM
WHY SHOULD I USE YOUR INSURANCE AGENT? BUYERS FAQ We have a list of vendors that we recommend to the Buyers we work with, and that includes homeowner's insurance agents. Why should you use our insurance agent? After all, many people already have homeowner's insurance in place from their last home and some of those carriers cross state lines. One big reason you should use our insurance agent is because their prices are very competitive and usually they beat the other estimates, sometimes by as much as 100%! But the other BIG reason that we recommend our insurance agent vendors is … (10 comments)
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buyer tips: WHAT DOES WETLANDS MEAN? BUYERS FAQ
- 06/06/12 01:49 PM
WHAT DOES WETLANDS MEAN? BUYERS FAQ Wetlands are flood zone areas that may be identified by plants and soil and may not be wet or mushy when you walk on it. Wetlands serve a very valuable function in the environment, as they allow water from heavy rains to drain instead of flooding upland areas and filter nutrients and other pollutants to keep surface water clean for drinking, swimming, and fishing. They also protect property from erosion and are breeding grounds for many species. If your vision of Wetlands is the Okefenokee Swamp or the Everglades, then you have a surprise coming. … (16 comments)
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buyer tips: WHY CAN'T I BRING A PERSONAL CHECK TO CLOSING? BUYERS FAQ
- 06/05/12 01:00 PM
WHY CAN'T I BRING A PERSONAL CHECK TO CLOSING? BUYERS FAQ
The day of settlement or closing on a house is the day when all the funds needed for the purchase must be received and accounted for.
The Buyer is responsible for bringing their funds (such as closing costs and down payment minus earnest money) and the bank is responsible for wiring the balance of the loan.
All monies must be in 'liquid' form. A cashier's check or certified bank check or wire are what a Buyer must bring to the closing table.
So why can't I … (9 comments)
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buyer tips: WHY SHOULD I USE YOUR INSPECTOR? BUYERS FAQ
- 06/04/12 01:20 PM
WHY SHOULD I USE YOUR INSPECTOR? BUYERS FAQ When we negotiate an offer for a house, Buyers have typically a 10-day window to perform inspections.
They often ask for our inspector recommendations, although there are some who choose to find their own inspectors from a neighbor, friend or family. Or, they might know someone who is in the construction business who offers to inspect their prospective new home purchase. So why should you use our recommended inspectors over the recommendation from a friend, or the family member who is a sub-contractor for a builder and understands the building process? … (4 comments)
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buyer tips: Saving Money in your Jacksonville FL Home
- 03/27/12 04:58 AM
Save Money in Your Jacksonville FL Home We all want to save money when we BUY a home, but what about saving money while you live in your Jacksonville home?
These days, every where we can improve our monthly positive cash flow will help with other expenses, like a vacation (we all need one!), college for the kids, or a new car.
Florida home owners know it costs money to heat and cool our houses, but here are some tips for ways to save money in Your Jacksonville FL Home.
… (9 comments)
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buyer tips: 15 Questions to Ask The Sellers
- 06/29/11 04:03 PM
15 Questions to Ask The Sellers
Congratulations, you have just signed a contract to buy a home. Now the excitement begins!
While you are sending paperwork to the bank, packing and planning your move, here are some quick questions to ask the Sellers to make your transition into your new home a smooth one.
1. Please send a copy of HOA Covenants and Restrictions.
2. What kind of security system does the house have and does it cover fire and monitoring? If system is monitored, please give details about the contract and monthly cost.
… (18 comments)
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buyer tips: Buyer Tips - 12 Mistakes Buyers Make
- 03/05/10 02:12 PM
If you are considering buying a new home, these 12 Home Buyer Tips will help you avoid making mistakes. Owning your own home is the single largest investment most people make, so it pays to do your homework and avoid these pitfalls. Incorporate these buyer tips into your next home purchase:
1. Thinking you can do it yourself. Successful business people always form a team around them. You need a team of professionals around you, from your Realtor®, your Loan Officer, your Building Inspector, and so forth. It's great to research your own information, but then vet it with professionals who … (24 comments)
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buyer tips: Is Your Lender Geographically Competent?
- 02/14/10 03:41 PM
When Buyers are qualifying a lender, there is more to consider than the interest rate and lender fees. Those are the obvious items on their list.
What about:
Is the lender familiar with the state/area the loan is in?
Do they know the customary closing costs?Do they know what is required?
Do they know what can be skipped? (survey if no FL Form 9 is required
Do they have a good grasp of insurance costs?Do they know how much a survey costs?
Do they know how much an appraisal costs?
How many loans have they done in your … (9 comments)
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buyer tips: Homeowner Tips - One Huge Reason Why You Should Keep Your Roof Repaired
- 01/07/10 03:36 PM
One Huge Reason Why You Should Keep Your Roof Repaired
Let me repeat:
One Small Huge Reason Why You Should Keep Your Roof Repaired
TERMITES!!!!!!!!!!!!!!!!!!!!!!!!!
Termites seek moisture.
Leaking roofs attract termites.
Who would guess? Moisture from the TOP of the house attracts those who live BELOW THE GROUND?
YES! Keeping your house dry is one of the best ways to safeguard against termites (along with a repair bond from a reputable company).
Termites can seek moisture from long distances. Our inspector once inspected an oceanfront condo, block construction, where termites had tunneled up FOUR STORIES to a leak in … (7 comments)
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buyer tips: Buyer Tips - Do I Need to Test for Radon?
- 12/29/09 04:13 AM
We have buyers moving from many different areas of the Country. Sometimes they want to know, "Do I need to test for radon?" The answer to Florida radon testing is a personal Buyer decision. This post was inspired by a fellow blogger, David Monsour's post on radon.
Consider the following:
#1 The buyer's comfort level.Some buyers insist on testing for everything to rule out even the slimmest possibility of problems in their home, going beyond the building and WDO inspections to testing for radon, mold, pool leaks and more.
#2 Your location in Florida. Most areas of Florida have the lowest … (6 comments)
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buyer tips: WHAT IS A SHORT SALE AND WHAT DOES IT MEAN TO SELLERS AND BUYERS?
- 01/06/09 09:46 AM
What is a short sale?
This is a question asked often on listing appointments and when working with Buyers. While anyone in the Real Estate/Finance industries understands, we find about 4 out of 5 people don't know what a short sale is.
Short Sale - When a person owes more on their house than it can be sold for, they are going to sell it "short" of what the mortgage is. This is a Short Sale.
For example, they paid $340,000 and owe $330,000. Values have declined 15+% in our area in the last two years. The house … (3 comments)
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The anatomy of a Buyer's offers tells the story - Is the deposit already with the Broker, or will it be collected in 2-3 days? 
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