BUYER'S PACKET
YOUR TRUSTED REAL ESTATE PROFESSIONAL I consider myself a Midwestern girl, spending the majority of my life living in the suburbs of St. Louis, Missouri. In 2014 I moved to Sebastian to be closer to family, and I completely fell in love with the area. Sebastian is a great place to live. It's quaint, warm, and sunny! I absolutely love the Treasure Coast! In my spare time, I enjoy visiting the seasonal flea markets, craft fairs, and numerous secondhand shops nearby. I'm usually working on a crafty DIY or home decor project with my unusual finds.
JESSICA "JESS" RUDDY REALTORÂŽ
772.494.3776 jessica.ruddy@CBParadise.com
I really enjoy being involved and connected within the community where I serve as a realtor. This involvement helps make lifelong connections and gives me the ability to help people find the home that "speaks to them". I am hardworking and work my hardest to completely satisfy my clients' real estate needs!
1209 US HWY 1 | SEBASTIAN, FL 32958
FLCOLDWELLBANKER.COM
INDIAN RIVER COUNTY MARKET UPDATE FINANCING If you are in the market for a new home or investment you might be questioning, “What can we afford?� You may be surprised to find out how much buying power you actually HAVE. There are many new down payment and mortgage plans available to qualified buyers!
1. Make a list of your money available after your fixed expenses. Any money you have saved for a down payment, the proceeds from the sale of your home and the amount of money you are qualified to borrow. This gives you the ballpark number to start with. 2. You are now part of a team. In fact, I work with the absolute best lenders who are successful with finding a suitable mortgage that will work with your budget. They will answer any and all questions or concerns that you may have!
INDIAN RIVER COUNTY MARKET UPDATE Active Sales:
.................................................. 1,269 HOMES
Median Sales Price:................................................................$250,000 Median Days to Contract:..................................................................62 Median Days to Sale:......................................................................104
Resource: FLRealtors.org, 2019 3rd Quarter
LET ME GET STARTED ON YOUR BEHALF TODAY! YOU CAN COUNT ON ME TO:
• Always keep you up to date on the market
• Find your homes matching your unique criteria • Negotiate the absolute best deal for you!
• Help you navigate the home buying process • Take fiduciary responsibility, protect your privacy, & always keep you in the loop
The High Cost of Waiting to Buy
Penalty for Waiting 1 Year Penalty for Waiting 3 Years
With mortgage rates and housing prices expected to increase soon, renters who delay buying a home could end up spending considerably more, according to research by Realtor.com.
$22,765
$22,409
$21,055
$20,993
$20,615
$64,530
$64,924
$60,393
$59,896
$58,130
Sarasota Area
Naples Area
Fort Myers Area
Miami Area
Destin Area
$20,172
$20,119
$19,924
$19,025
$58,121
$57,789
$20,001 $58,250
$55,407
$54,715
Tampa Area
Port St. Lucie
Orlando Area
Vero Beach Area
Panama City
$18,366
$18,043
$17,962
$17,916
$17,668
$52,704
$52,097
$51,398
$51,045
$50,491
Lakeland Area
Melbourne Area
Ocala
Punta Gorda
Pensacola Area
$16,796
$16,791
$50,741
$47,166
The Villages
Daytona Beach Area
$15,778
$13,969
$45,654
$41,291
Tallahassee
Gainesville
Here’s a breakdown for Florida’s top markets showing the penalty for waiting just one year and the penalty for waiting three years . To develop the estimates Jonathan Smoke, chief economist for realtor.com, compared the cost of buying with a 20% down payment, to renting if renters invested the difference between their rental payment and a mortgage payment and earned a 5% annual return.
$16,425
$16,110
$47,874
$45,992
Homosassa Springs
Jacksonville
$12,203
$18,672
$36,519
$54,879
Sebring
US Average
INITIAL MEETING CHECKLIST Date: ___________________________ Agent: ___________________________ Client Name: ___________________________ Current Address: ________________________________________________ Phone Number ( _____________ ) _____________ - _______________ Email Address: __________________________________________________ Price Range: From $__________To $___________ Location: _______________________________________________________ Property Type:___________________________________________________ Number of Bedrooms:_______________ Number of Bathrooms: ______________ Square Footage:____________________ Design:____________________________ School District:_____________________ Financial Type: � Conv
� FHA
� VA
� MSHDA
Lender:____________________________
PERSONAL NOTES:
HOME BUYING PROCESS HO M E BU YIN G PRO CE S S W ITH
Enter
with your Coldwell Banker Agent
COLDWELL BANKER
Tour properties together
Analyze
Buyer’s Exclusive Agency Agreement
power with mortgage pre-approval
Have your agent
Agent Presents & Negotiates your offer
Prepare your offer
key elements of your offer (price, deposit amount, dates & subject clauses)
We found your dream home.
Buyer Agency Acknowledgment Form
Determine your purchasing
your wants & needs with your agent
Decide
YES!
into agency relationship
{
Meet
(Legal Contract of Purchase and Sale)
What’s next?
Exciting Day!
Review and Accept Contract Agent completes the Pending Sale Checklist
Accepted Offer!
Order
Posse s
Title Insurance
Arrange
for insurance on your new home
sion
Make
moving arrangements
Closing Date
Money & title are exchanged
Date
!
The work is done, now you get to go home!
To-Do List for
1.
First-- Time
a 6. Choose REALTOR
SAVE • Down payment. • Closing costs. • Escrow for insurance and taxes.
Jess Ruddy!
7. Visit homes
• Take photos, make notes. • Home shopping checklist
2. IMPROVE CREDIT SCORE.* • Stay current on bills. • No major purchases. • Don’t cancel any credit cards. * Higher credit score = lower interest rate.
3.
Buyers
8.
hud.gov/buying/checklist.pdf
Narrow Choices • Visit neighborhood during day and at night to gauge traffic, noise, etc. • Test commute.
CALCULATE
what we can afford. bankrate.com/calculators/mortgages/ new-house-calculator.aspx
• Consider resale value.
9.
Make an
OFFER
Common contingency opt-outs:
• if home appraises for less than mortgage • if inspection reveals flaws owners won’t fix
4.
Get mortgage preapproval
ges rtga o m t eres r-int e w Lo v d.go gov • hu s.va. t fi e n • be .gov .org usda sing • rd. u o h rida • flo
• Shop for the best deal.
11.
• Choose primary and backup lenders. • Mortgage advice - hud.gov/buying/booklet.pdf
5.
• if you lose your job before the deal closes
10.
Schedule Home Inspection
Make final walk-through • Test light switches, sockets. • Check that windows and doors work. • Test faucets, drains, toilets.
DECIDE
what we want in home. • Checklist -
hud.gov/buying/wishlist.pdf
SOURCES: HUD.gov, Realtor.com, Bankrate.com
12.
Close and
MOVE IN!
MORTGAGE APPLICATION CHECKLIST Copy of driver’s license and social security card for each borrower.
Accepted purchase agreement and copy of listing sheet.
Application fee in the amount of: $
Income: • Past 2 years’ history of employment with addresses, phone numbers and length of time on the job. • Past 2 years’ W-2 forms • Most recent paycheck stubs (30 day minimum). • Verification of other income: social security, child support, retirement, etc. • If self-employed: Past two years’ tax returns including all schedules and a profit and loss statement for the current year signed by your accountant. • Copies of leases for all rental properties.
Assets: • Most recent statements (for 3 months) for all bank and credit union accounts. • Stocks and bond: provide copies of certificates or most recent statements from stockbroker. • Make, model and value of automobiles, boats, etc.
Creditors: • Credit cards: provide account numbers and statements showing current balance. • Installment loans: provide account numbers, balances, monthly payments and addresses. • Mortgage loans: provide account numbers, balances, monthly payments and addresses on all properties presently owned or sold within the last 2 years. Bring proof of sale for all properties sold within the last 2 yrs. • Amounts for child care expense, if any.
Landlord Information: • Name and address of all landlords for the past 2 years.
Bankruptcy and/or Adverse Credit: • Bankruptcy discharge and schedule of creditors. • Letter of explanation
Divorce decrees, if applicable, including property settlements, quit claim deeds, modifications, etc.
Copy of contracts or listing agreement for home you are selling.
VA Only: • Certificate of eligibility • DD214
Other: _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________
CONGRATULATIONS! Your offer was accepted. Now the fun part begins. To expedite the purchase of your home, we'll need to do the following in a timely manner. 1. Earnest Money Deposit (EMD): By Date: _________________ We will need this as soon as possible, but no later than 48 hours from when the offer is fully executed. Your deposit should be a personal check made out to COLDWELL BANKER. Keep in mind; your lender will need to verify that the money came from your personal account so please refrain from using any cash.
2. Inspections: By Date: _________________ I'm including a list of my top inspectors in the area. Please feel free to compare them and schedule a time at your earliest convenience. Once you have done so, please let me know the time and date so I can schedule it with the sellers. Keep in mind that inspector's schedules can fill up quickly and we only have 10 days to complete all inspections from the time the offer was accepted.
3. Start the Loan Process: By Date: _________________ Typically, sitting down with your lender as soon as your offer is accepted is a good idea but let's make sure the appraisal is not ordered until inspections are complete and approved. The reason why we do this, is to avoid an appraisal cost if the home has unforeseen issues that are discovered with the inspection.
4. Order Title Work: Immediately I'll order title as soon as I have a fully executed contract. It typically takes 5-8 days. Once I have received it, I'll look it over and point out anything that might be an issue or cause a delay.
ITEMS NEEDED AT CLOSING
Home Owner’s Insurance (Copy)
Certified Bank Check
Drivers License
Date of Closing: _________________________________________ Location:________________________________________________ Time:___________________________________________________