The Home Buying Process

Step 1: Find the Right Realtor – Once we are informed of your specific needs, our company can assist in matching you with the right Realtor. Since real estate is a very diverse profession many Realtors have elected to concentrate their efforts in very specific areas and location. With our vast Real Estate Referral Partners program we are able to refer you the exact realtor that fits your exact requirements.

Step 2: Pre-Qualifications - Once you have decided to move forward with owning your dream home, your first step is to contact a mortgage broker to determine the exact amount of home you will be able to qualify for. Based on some general questions about income, debt, assets, and credit history, lenders can estimate how much mortgage you can qualify for. Generally a pre-qualification is only good for 30 days; so time is of the essence.

Pre-approval means that you have applied for a mortgage, you have completed the application, received a copy of your credit report and assets and employment status has been verified. Being pre-approved will let you know the maximum amount of loan that you can receive.

While having the knowledge of how much mortgage you are able to secure is important, that is only the first step. It is important to be pre-approved with a reputable lender (examples are banks, credit unions, mortgage brokers and on-line lenders). Having the pre-approval will be beneficial when dealing with the seller because they will know that you are a serious buyer.

Since most experienced Realtors have contacts with several reputable lenders, they will be happy to suggest those companies that have demonstrated proven track records in the past.

Step 3: Finding Your Dream Home - Once you have been pre-approved and know the maximum amount of a mortgage a lender will provide, you are now ready to select your dream home, condo or townhome. Your Realtor will be invaluable in this process. Realtors have access to the Multiple Listing Service or MLS. The MLS has a very large data base of properties that should meet your requirements.

Step 4: Writing The Contract – Once you have located the home you wish to purchase, you’re Realtor will draw up the necessary contracts outlining the price of the home, closing date etc.

Helpful Hints

1. Control Credit Spending - Once you have decided to purchase a home near Disney or in other parts of Central Florida, it is important to control your spending especially if it involves using credit. Avoid large purchases such as automobiles. Your mortgage approval is based on final evaluation of your overall financial situation.

2. On Your Side - It is important that you have a Realtor on your side that represents you not the seller. These Realtors are called a Buyer’s Agent. The Realtors that we recommend have the knowledge and experience to work furiously to help you with the process of locating and purchase of your new home.

3. New Construction - Even if you want to buy a new construction home from a builder, it is important to have someone representing you in the transition. The sales person at the new home is hired and represents the builder.

4. Home Inspections - One of the most important parts of buying a pre-owned home or even a new home is the inspection. As a buyer of a home you are entitled to know exactly what the condition of the property is prior to purchase. The way to learn about the home is to hire a qualified inspector. Most home inspectors belong to local or national trade organizations such as ASHI (American Society of Home Inspection).

The time to request a home inspection is at the time of making an offer. It must be in writing and the home purchase would be contingent on the results of the inspection. Generally home inspections are automatic and part of the contract.

5. Control Emotions – Buying Orlando real estate can be very emotional especially when you find that perfect home. There are many homes to purchase so take your time and ask your realtor to show you a few. Also try not to show emotion in front of the seller. This makes your Realtor’s job more difficult when he or she is trying to negotiate price.

Where Dreams and Memories Come From

At ARCHER CROWN Residential Management, we understand that home is where life unfolds, where dreams and memories are created and then revisited. Whether these memories are of your son or daughter’s first steps, the smell of mom’s apple pie baking in the oven, grand dad’s funny stories or your wife’s smile when she opens that special gift, your home is treasured throughout many lifetimes. This is why at ARCHER CROWN Residential Management, providing a place to live is just the beginning, we offer homes to experience life in and “Where Dreams and Memories Come From”.

Peace of Mind Realized