Thinking of buying a home in the Amelia Island, Fernandina Beach, or Yulee FL area? Now is a great time to buy! The average rate on the 30-year fixed rate mortgage is staying near historic lows.
An Amelia Island area home, vacation home or investment property is probably one of the largest purchases you will make. When buying a home, there are many things to consider and many decisions to make. As an Amelia Island Realtor with mortgage lending expertise, I can guide you through the home buying and financing process to ensure you not only purchase the home you want but that the process is a smooth one.
AMELIA ISLAND HOME BUYING TIPS:
- What can you afford? You may have an idea of a monthly loan payment you can afford, but it is always best to pre-qualify for a mortgage so you know exactly how much a financial institution is willing to lend you based on your income, credit scores and down payment. Also, sellers are more amenable to offers from pre-qualified buyers.
- Negotiate! Negotiate the contract to obtain the best possible terms and conditions so you get the best value for your money.
- Understand your contract. Understanding your contract is one of the most important protections you have to ensure you are making an informed decision. Be aware of contingency clauses and time allowances.
- Have your deposit. Be prepared to make an earnest-money deposit or binder deposit with your offer. The size of the deposit will vary according to the size of the down payment, property price point.
- Buyers estimated cost sheet. Request a buyer’s estimated cost sheet so you can be prepared with the appropriate amount of “cash to close”. Typically the buyer’s cost sheet includes inspection fees, appraisal fee, transfer fees, down payment, closings costs and prepaid items such as pro-rated property taxes, homeowner’s insurance and homeowner association dues. If there is a lender involved, they should provide you with a “Good Faith Estimate of Closing Costs”.
- Get a home inspection. Obtain an inspection from a certified home inspector that is an unrelated party to the purchase transaction.
- Walk-through before you close! Do a final walk-through of the property before closing to ensure property is in satisfactory condition and to check for items or appliances that were to be conveyed with the sale of the property.
I am happy to guide you through the home buying process. Call or e-mail me with any questions you might have or to assist you in finding your dream home.