Here is our week 4 Challenge Entry. I know its a bit long, but you should read through all of it. It has lots of information. Thanks all who have been so supprotive here. I can't thank you enough!

Hello Rich

 Congratulations on your first steps to buying your first home!  I remember as if it were yesterday.  I am so flattered you asked me to part of this special event. 

It only happens once in your life time!  It will be exciting, educational and sometimes stressful but I promise you that I will do my very best to make your FIRST EVER home purchase a less bumpy ride.

Well, I have lots of faith in you.  Considering you served this great country I imagine the home buying process will be easy to take.   What better way to thank you personally for your service and courage by assisting in your home purchase and giving you the quality service that you so deserve.

I know as a first time homebuyer you have many questions, many thoughts and some concerns so if you don’t mind I’d like to touch on the process...its a few pages but I do think it will get rid of some typical concerns. 

So grab a pen and paper or keyboard if you prefer and start jotting down some thoughts and any questions and all concerns.

 I’ll do my best to answer all your questions but keep in mind it takes a home buying team to get you through this process.  There are many people involved in one transaction. 

While we all play different roles each role is important...and all connect if one piece is missing or delayed it could possibly delay or in some cases end the home buying process.

That’s why it’s so important for all parties to work together and communicate with one another.

I am committing to you in writing to deal honestly and fairly.  As a matter of fact I guarantee my services.   I also need a commitment from you. I need you to be honest in the homes that I show you and I request that you be very direct with me.  This is not about me but all about you and your first home buying experience.

My buyer broker agreement, a transaction broker notice and my service guarantee all of these docs will be presented to you before we even start looking at homes.  We won’t jump in my car immediately but rather consult, communicate and complete the steps.  The steps to get you looking at homes. 

Keep in mind a few things:

When you give me your criteria of the home you are looking for, I will enter that into the MLS, sometimes thousands of homes can come up, it’s important to tell me what you are looking for and what features are really important to you.

The key is to look at the right price range in homes and narrow down your search. It’s so important to get approved for a mortgage; it’s exciting you have a huge selection. 

We don't want to run the risk to show you homes out of your price range, once that happens, often times your price range is not so appealing! 

We can show you any property in the MLS; know most of us all have the same access, FSBO’s, New Construction piece of cake.  Present these coupons to the home owner or builder.  You want someone on your side!  That someone being me!

That way it’s clear and other’s will know we are in fact working together to get you in your FIRST home. 

I love it when I hear the words VA loan!  No down payment required, no mortgage insurance premiums and the great thing your closing costs are very comparable to other types of mortgage loans.  Have you requested your Certificate of Eligibility or your dd214?  If not here is a link to request any military service records. 

You are going to need it so let’s begin...

Let’s talk about the mortgage process a bit.

Please make sure and feel comfortable and really think about your decision of which you are going to use for financing.   

Determine where you want your monthly payments to be, don't be as concerned with prices as much as your monthly payment and costs.  Is it affordable to you and your family?  Can you still continue to live the lifestyle you are accustomed to? 

If your financial advisor ask for documents get them to them in a timely manner.  Any hold up on docs may in fact hold up funds it takes to get you into your new home.

Take a look at your good faith estimate and make sure you understand every single charge the mortgage company is charging, take the time and read the fine print and take this part of the transaction extremely serious.  Keep in mind it’s all your charges all on one sheet of paper.  I have to remind myself, its A GOOD FAITH ESTIMATE, so it’s really important to understand the costs and they could possibly change.

If you have any questions, any concerns, please it’s so much better to ask questions upfront rather than worry or get upset or walk away.

A big part of my job is to keep you focused on your home purchase and get you into your FIRST home!   

When we get together please bring your good faith estimate, your loan approval, checkbook and your enthusiasm.  Any questions or thoughts let’s address right away. 

It’s time to have some fun and let’s go find you home! 

All decision makers take a ride with me!

Sellers come from all walks of life. So focus on your desires in what you want in a home and really take a hard look at the house as if it were your own.  Will it be costly to make it your own, require renovations, or do you love it just the way it is?  These are some of the things you should think about when homes meet your criteria!

If criteria changes we need to know right away.  Giving up one feature may well be worth having another so it’s very important we address this issue right away.

You’ll receive a copy of each listing, its important to take notes the good and the bad.  It will help you to remember each property. 

Some homes will not look like what you saw in the pictures and some will blow your mind away. You may fall in love with a house and your wife will love another. 

If a home is calling your name, it’s most likely the one.  Give it serious consideration, it’s important to discuss it and make a decision.  Remember we want to meet your time frames so let’s put it writing.

 That’s right! Let’s get you packing and write a contract.

Writing an offer-There is much prep work to be done

Sharing with you comparable homes, discussing the pro’s and con’s and allowing ample time for you to make a good sound decision is the start of getting into a home.

We will counsel with your loan officer to make sure the contract is written with proper terms and conditions.  If you ask for closing costs...we need to make sure it doesn’t exceed the VA policies and regulations.

Once a decision has been made, we will go over all the paperwork and the entire process you will make an offer and provide a good faith deposit.

Keep in mind you and a real estate seller have the same goal in mind, while they want the most money for their house and you want the best bang for you buck. You and the seller have one thing in common.  You want to buy and they want to sell, it’s the meeting of the minds that will get you moving in and the seller on their way.  Both you and seller want a successful closing.

We will do all offering and countering in writing, with a turn around time acceptable to you.  Keep in mind the turn around time is the turn around time.  Don’t panic or get overly anxious presenting offers takes time and you want all parties to make good decisions.  I know as soon as the other party counters or accepts, you’ll be the first person I tell.

It’s an exciting time...so feel free to call me or email me if the suspense gets too much.

Congrats, You’re Offer is Accepted

Now its time to call all the troops in!  Slowly but timely our team will evolve.  Your contract requires signatures, inspections, survey and an appraisal too!  Time lines to honor and decisions to make my transaction coordinator will help with this and I will be with you every step of the way.

Tidbits you should know and service provider information

I selected two but feel free to use who you wish!

About the mortgage-Know that rates change daily and please understand the price and terms of your loan.

 Mainland Mortgage or Florida Mortgage Corp

About Termite Inspections-The VA requires a clear Termite inspection that means the home you are buying is required to be termite free.

Command Pest Control or Al Hoffer’s Pest Control

About the home inspections-remember its time lines and limits according to the contract-I have found its also a great time to bring your family and take measurements and also know first hand what repairs need to be done.

South Florida Home Inspection or Florida Master Home Inspectors

About the appraisal-If for some reason the property’s value is determined that it’s lower than the contract price. Don’t panic.  It opens the window for re-negotiations and your price and terms may in fact change.

 A VA approved appraiser will be assigned to you!

About the Survey- A survey gives homeowners a clear picture of property line. Sometimes simple things such as trees, bushes and fences may cause a dispute about property lines that is called an encroachment.  In the state of Florida Survey’s are very important they help determine elevation, flood zones and are sometimes needed for homeowner’s insurance.

 A-1 Land Surveying Company or McLaughlin Engineering Company.

Homeowner Insurance-Consider the cost to rebuild your home vs. the price you paid for the home.  Just think about this the price of milk in the 90’s and the price today!  It’s important to get the best coverage for you.

Property Underwriter’s of Florida or United Insurance Company

The Title Company-When you purchase a home (the title to the property) the paper trail- the history of ownership.  Sometimes there are additional claims to the property.  Such as liens, judgments and incomplete documentation.  

These types of claims can affect the ability of you purchasing the property or cause you to lose money.  The title company also receives much of the documentation and a HUD 1 form is completed for the closing.  This document is similar to a good faith estimate but it’s the final HUD 1 with all of the true and accurate numbers and gives you the final amount to bring to closing in the form of a cashier check and money order. 

First American Title or Advantage Title

Final Walkthrough-Day of or day before we go through your new home to make sure everything is in working order.  If not its back to the table, a decision has to be made.  Accept with repairs being done or money escrowed but decisions have to be made. 

If you are satisfied with the home’s condition you’ll sign off then and happily accept the property in its present condition and then off to the closing table.

The Closing

You should receive your final HUD to review within 24 hours. I’ll review it; the mortgage company will review it as well as the title company.  Good thing is there are many eyes on it.  It’s just another way to protect you with your largest investment.

Make sure you have a cashier’s check or money order for final payment, your ID and any doc’s that might be required to bring with you. 

If all is well we’ll proceed...reviewing of the docs, signatures and exchange funds and keys. Congrats... It’s time to unpack...unwind and enjoy your new home.

Here are a few helpful links:

Movers

U-Haul

Florida Utilities

MyFlorida.com

I really look forward to working with you!  Please fee free to contact me. Are you excited?  I am.  It would be my pleasure!