At Moeller Realty we know that buying a home is one of
the most important decisions you will ever make. As a BUYERS
AGENT, we represent YOU through the entire home buying process:
the home search, contract negotiation, transaction coordination and the
real estate closing, even though the SELLER pays our fee.
We have instant access to every property for sale in the Gainesville-Alachua
County area. We will program the MLS
database of listings to immediately notify us when homes matching your
criteria or located in your desired area are listed for sale (or have
reduced their list price). We also keep records of Gainesville homes being sold
directly by owners. Once an appropriate home is identified, you will know
immediately, and we can set up an appointment for you to see the home at your
convenience. This new information will be sent to you in detail via email
(including digital photos), fax or by phone, as you specify.
When you are ready to present a contract to purchase a property, we provide
you with detailed information on what comparable properties have sold for over
the past two years. You won’t be in the dark about values! This data on
comparable sales will also be presented to the SELLER to back up your offer.
It costs you nothing for us to be your REALTOR, and most importantly, we can
save YOU from making expensive mistakes. Let us help you make Gainesville your
Home!
Know the values in the neighborhood in which you plan to buy. Compare
prices paid for homes in the same neighborhood and in similar neighborhoods
for the past two years. You should review this information (adjusting these
prices against the special features of the home you plan to purchase) prior
to making any offer. Your Moeller Realty buyers agent has full access to all
sales history data, through the Gainesville MLS and the computerized county
tax records.
Negotiation Advantage
Your first step in securing a new home is starting the mortgage loan
process. Ideally, you should have a written
commitment from a lender
guaranteeing you financing up to a specified amount, contingent only on the
satisfactory appraisal of the house you eventually select. It is important
to at least have the loan
approval process under way. It is common practice now for sellers and
their agents to request documentation
from the buyer showing that the buyer is truly qualified to purchase, prior
to any negotiations. In the event of competing contracts on the same home,
priority is given to the potential buyer who is pre-qualified
or has a loan commitment.
Mortgage Loan
Mortgage lenders will calculate your maximum loan eligibility. Only you
can decide how much you can afford. Once you have narrowed your choice to
one or two lenders, be sure to get their detailed
estimates (Good Faith Estimate of Settlement) in writing and signed!
Also ask for a written statement regarding their interest
rate lock-in policy. You need to determine the lock-in period for the
interest rate you were quoted (for example, 45 days) and what you can expect
if interest rates drop below your locked-in rate before closing.
The Mortgage Rate
You should shop for the best mortgage rate. Examine all of the
available lender mortgage program options. Interest costs will be your
highest single cost of owning a home. Calculate
your monthly payment when a lender quotes you the current interest rate.
Adjustable vs. Fixed Rate
Do not accept an adjustable rate mortgage unless you can live with
the risk of payment fluctuation and can afford the maximum possible per
monthly payment. Adjustable rate mortgages are very complex and you should
obtain a written prospectus before applying. The questions that should be
addressed and used for comparison between lenders are the financial index
and margin being used for calculation; whether the initial rate being quoted
is a discounted rate; the rate caps and the payment caps; the adjustment
interval; and the conversion to fixed-rate policy.
When to think about selling
Consider the prospects of resell before you purchase a home. What
features of this house will ensure an easy and profitable sale in the
future? You and your buyers agent can review the desirable features that
will ensure excellent future value.
House Inspections
Never skip inspections just to save a
few dollars. A good inspection by a professional
house inspector can save you dollars in the future. The purchase
contract should be contingent upon your approval of the final inspection
report. A home
warranty can provide additional protection.
Choosing an Inspector
Selection of a qualified home inspector should be based on
a direct interview in which you obtain written disclosures for the following
questions:
Exactly what the inspector does or does not inspect (e.g., roof,
attic, pool, crawl space);
What scientific instruments are used—such as moisture detectors,
combustible gas detectors, and electromagnetic detectors;
How long to perform a typical house inspection;
Professional organization affiliations or memberships, education level
and licensing, years in the business;
How many inspections the inspector has conducted and whether the
inspector works full time;
Type of report submitted—whether a check-off list or a detailed
narrative—and how soon delivered;
Type of insurance the inspector has—including liability, errors and
omissions;
Whether the inspector is involved in any other businesses, such as
home repair, that might represent a conflict of interest;
Contact information for verifying all of the above.
