There are countless steps to buying a home in Wellington Florida, but here are 7 of the key steps to purchasing a home.
Step 1: Hire a Wellington Florida REALTOR
Finding a Wellington REALTOR is one of the most important steps when buying a home in Wellington Florida and the first Agent you speak with or meet may not be the right REALTOR for you. It’s important to find a REALTOR you’re able to establish a trusting relationship with and one you’re confident will be able to guide you through the entire buying process. When it comes to selecting a REALTOR I highly recommend reading reviews from their past clients, find out their availability and make sure they specialize in your area of interest. (Signs You Hired the WRONG Real Estate Agent)
Step 2: Get Pre-Approved for a Home Loan
If you’re not paying cash for your new home the next step will be to get pre-approved for a home loan so you know how much you can afford. If you’re not sure which lender to contact your REALTOR should be able to provide you with a list of great lenders they’ve previously worked with. During the pre-approval process your lender will be able to provide you with your estimated closing costs in addition to what your monthly estimated payment will be including property taxes, homeowners insurance and HOA fees, if applicable. It’s also important to know the type of loan program you’re going with because not all properties qualify for certain types of financing and not all sellers will entertain certain types of financing (i.e. FHA or VA loans).
Step 3: Finding a Wellington Florida Home
Before you jump in your car to look at homes it’s important to discuss your needs and wants list with your REALTOR. However don’t be surprised if your home search criteria starts to change as you view home, which is normal just make sure to communicate these changes with your REALTOR. While viewing homes I highly recommend pointing out your likes and dislikes of each property so your REALTOR has a better understanding of what you’re looking for.
Step 4: Submit an Offer
The time has come, you found a property! The next step will be to submit an offer, but keep in mind is there is more to an offer than the offer price secondary terms are important too! Learn more about submitting an offer on a Wellington Florida Home at I’m Ready to Submit an Offer on a Wellington Home, now what?
Step 5: Negotiations & Offer Acceptance
Unless the seller accepts your offer as written there may be some negotiations, which can lead to a fully executed contract or two parties who can’t come to terms and go their separate ways. If the seller received multiple offers you may be required to submit your Highest and Best offer. This is another example why it’s imperative to have a great REALTOR who can guide you through the negotiation process.
Step 6: Start Loan & Inspections
Once you have a fully executed contract you’ll want to submit it to your lender so they can start your loan application. At this point you’ll also want to schedule a home inspection, which even if the home is brand new I highly recommend having an inspection done.
Step 7: Close & Keys
The day has finally arrived, closing day! This is the day you’ll do a final walk through of your new home, sign closing documents and get the keys.
If you need help buying a home in Wellington Florida contact me today or start the process by filling out our Buyer Questionnaire below.
Buying a Home in Wellington Florida at a Glance (Infographic)
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