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Ready to Own Your Own Home?

What You Need to Know

Whether you are currently renting or moving to Jacksonville, owning your own home is one of the best investments you can make in your future financial security. 


Buying a home is a multistep process frought with pitfalls. Don’t let these worries and concerns hold you back. It’s our job to not only make sure you’re fully prepared before you make an offer, but to also walk with you through every step of the process – to anticipate your concerns and questions, and to take as much of the stress away as possible so you can move in with as little hassle as possible. Buying a house involves: 


Finding an Agent
 Buying and selling real estate is a complex and expensive endevour. One might think that you could go to Zillow, Realtor.com, or any of the other sites quickly find the right home at a good price. But a basic rule in real estate is that all properties are unique. No two properties – even identical models on the same street – are exactly the same. Homes differ in condition, location, and upgrades as do contract terms, financing options, inspection requirements and closing costs. 

In this maze of forms, financing, inspections, marketing, pricing and negotiating, it makes sense to work with professionals who know the area and the market. In truth, it almost never makes sense to buy a home without first having a Realtor. The buyer pays nothing to the Realtor (some brokers charge a fee, so ask)
We charge no extra fees at Coastal Homes Realty. The service is completely free to the buyer.

We see so many properties that we can help buyers understand the value in different homes and be realistic about the condition of the property and potential repair costs. If you’re looking at a For Sale by Owner, it’s even more important to have an agent because you need to know whether the house is priced appropriately. 
As we get to know you and understand your goals we may even recommend houses that you would have never considered. 

Mortgage Pre-Approval

Unless you have the purchase price in cash, to present an offer on a home that will be taken seriously you will need to be pre-approved by a lender. We can get this process started for you as soon as you are ready! You will need the following:


Proof of Income


All borrowers need to have W-2 statements and tax returns from the past two years, as well as recent pay stubs that show current income as well as year-to-date income. 

Proof of Assets


You will need bank statements and investment account statements to prove that you have funds for the down payment and closing costs. If you receive money from a friend or relative to assist with the down payment, you will need a gift letter to prove that this is not a loan.

Good Credit


Lenders give the lowest interest rates for customers with a credit score of 740 or above. Below that, borrowers may have to pay a little more in interest. 

Employment Verification


Lenders will want to see your pay stubs, and also may call your employer. Self-employed borrowers will need to provide significant additional paperwork concerning their business and income for the last two years.br>

Documentation


Your lender will need to copy your driver's license Social Security number. Other documentation may be required by the lender as well. 

Finding the Perfect Home
There is no "perfect home". All homes (even new ones) have some flaws. Some you can deal with, others are deal breakers. We can help you determine the difference.
As a homebuyer, emotions are running high, so it's critical to make sure that while you aren’t being overly critical, you are recognizing the truly important things.

Important Things

Location - You can't move the house. Be aware of your commute, local schools, entertainment, etc. 
Structural integrity - Can be costly and hard to see. 
What you can afford - Be certain your new home fits your budget. 

Less Important Things

Paint and Carpeting - They make a strong impression, but are the easiest flaws to remedy.
Age of the House - Old and well built beats new and shoddy every time.
What you can afford - Don't lock yourself into a narrow price range. Sometimes a few more dollars gets a lot more house! 
Making an Offer and Entering a Contract

An offer on a house is a legal contract that must conform to state and local laws. It needs to be specific and understood by both parties. It's more complex that just "I'll pay you x number of dollars for this house". Before you make an offer, we will go through the contract with you making sure you understand all the legal ramifications of your offer and what is included (or not) in the purchase price. 

We will negotiate with the other side to arrive at a price and terms that fit your needs and budget. 

Inspection and Repairs

In Florida, every real estate purchase provides a 10 day window for buyer to conduct an inspection of the house. We will arrange for a licensed inspector to inspect the house and make a request that the seller fixes any outstanding issues.