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
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.
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.
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>
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
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.