BUYER GUIDE Welcome to
As Realtors® it's our pleasure to guide you through the process of finding your home. Whether you're a first-time homebuyer, relocating, or looking for an investment property, we are here to help. With access to the latest listings, market trends, and industry insights, we have the expertise and resources to provide you with the highest level of service and support.
Based in St. Cloud, Florida, our goal is to make real estate simple. Whether you are looking to buy a residential, commercial or investment properties, let our team of experts guide you through the process.
RacquelSchroeder
A FEW EAST PARK REALTY SuccessSTORIES
tipsto findthe right home
ChecklistBUYER
PREPARE YOUR FINANCES
Learn about your credit history
Calculate how much debt you have and how much of a monthly mortgage payment you can afford
Find a mortgage lender
Gather your tax, financial, & employment documents
Complete your loan pre-approval
FIND HOME
Look into your favorite neighborhoods and what you require in a home
On the internet, look for houses
Personal visits to homes
Make a proposal
PREPARE YOUR FINANCES
As soon as possible, make a deposit of your earnest money
Perform Inspections As Soon As Possible & Determine Any Repairs Before Contract Deadline
Notify the lender that you are under contract and provide all requested documents as quickly as possible
As Soon As Inspections Are Completed and Issues Are Resolved, The Lender Will Order An Appraisal
Assess the situation.
Homeowners Insurance is a good option
Closing timetable
BeforeYouBuy
HOW'S YOUR FINANCIAL HEALTH?
An important first step on your journey to success is to be fully aware of your personal financial situation. Understanding your personal financial situation will guarantee your long term success in this process. It will ultimately confirm your financial eligibility & readiness for the purchase and long term maintenance costs that come with purchasing a home.
LOOK AT YOUR SAVINGS
It is always recommended that you come prepared when purchasing a home It is highly important to have available sufficient emergency cash to cover critical expenses A great rule of thumb is to have a minimum of three to six months set aside for expenses And let's not forget the major upfront expenses such as cash down, closing and moving costs
REVIEW YOUR SPENDING
You need to know where your money is presently going every month to better understand and plan for this future purchase. How much money is going to bills or necessities vs how much is going towards extras. Knowing your spending limits helps towards an ultimate successful purchase.
CHECK YOUR CREDIT WHAT DO YOU WANT IN A HOME
Lowering your debt to credit ratio and credit reliability are among some of the main criteria for approval lenders are tasked to evaluate and interpret.
Knowing what you are happy with when you are heading towards purchasing a property is key to long term happiness With so many types of homes available to the consumer, it is advantageous to become familiar with ALL of your options
MakeanOffer
MAKE AN OFFER
Once you are at the point where you feel like it is time to present an offer, we will guide you as to how much to offer at first, along with specifying any conditions you would like to negotiate for. We then will proceed with the official offer submission to the sellers agent. If all goes in your favour, they will accept. Fingers crossed! In the event that they refuse the initial offer, they will most likely come back with a counteroffer.
AGREEMENT
Once a middle ground is reached that pleases both parties, the next step is a deposit to lock in the deal while the property goes into Escrow. Escrows are usually 30 days unless otherwise pre specified and negotiated by the real estate agents .
COMMON MORTGAGE LOAN STEPS
PRE-QUALIFICATION
LOAN APPLICATION
LOAN ESTIMATE
PRICING & LOCKING
LOAN PROCESSING
UNDERWRITING
FINAL LOAN APPROVAL
CLOSING DISCLOSURE
LOAN CLOSING
Our Promise to You
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W e p r o m i s e t o r e s p e c t
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y o u g o o d a d v i c e .
W e p r o m i s e t h a t y o u
w i l l u n d e r s t a n d w h a t
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W e p r o m i s e t o f o l l o w
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to the buyer...
We understand the decision to buy a home is not made lightly. The relationship between home buyers and Realtors must be based on trust, mutual goals and understanding – this is why we will always keep your interests first and foremost. The real estate process requires negotiation of complex issues. We are committed to working in your best interests and will help you secure the best possible price, with the most favorable terms, in the shortest period of time.
The Central Florida market is large and complex and moves very quickly; trying to navigate it on your own is a formidable challenge. Brokers live and breathe the market – the experience and knowledge they bring is invaluable and impossible to get elsewhere.
Working with a real estate broker whom you trust and with whom you are comfortable, you will give yourself a competitive advantage over those who are not using a broker. Once you have a good idea of what you want, your first goal in finding the perfect home needs to be finding the right broker. Understanding this, one of the key services of East Park Realty.
KEY TERMS
A professional analysis used to assign the market value of a home. A necessary step in validating a home's worth to you and your lender as you secure financing Appraisal
Closing Cost
The fees required to complete the real estate transaction. Paid at closing, they include points, taxes, title insurance, financing costs and items that must be prepaid or escrowed
Contingencies
A clause in a real estate contract that states there are certain conditions that must be met by either the buyer or seller in order to continue to the next step in the contract. Commonly for financing, inspections, and appraisal.
Down Payment
Cash requirement of 3-20% of the purchase price of the home. Some 0% down programs are also available.
Earnest Money
Your monthly debt payments divided by your gross monthly income. Debt-to-Income
A deposit made to a seller that represents a buyer's good faith to buy a home. This money is applied to your down-payment at closing.
KEY TERMS
Loan Commitment
A lender's promise to offer a loan or credit of a specified amount to a borrower that also includes all of the terms and conditions of the loan.
Mortgage Rate
The interest rate you pay to borrow money to buy a home. The lower the rate, the better
Underwriting
The process by which real estate borrowers are evaluated to determine their viability and potential to repay a mortgage.
Walkthrough
The last milestone prior to closing where the buyer inspects the property to ensure they are buying is in the same condition as when they made their offer.
A letter from a lender indicating you qualify for a mortgage of a specific amount Pre-Approval Letter
Survey
The process of locating and measuring a property's boundary lines to determine the exact area of land that a homeowner owns.
Title/Title Insurance
Document that shows legal ownership to a property. A lender required insurance policy that guarantees that the seller has the right to sell you the property, and you alone own it after closing.
CLIENT SATISFACTION
Happy clients are the cornerstone of our business, and we strive to deliver exceptional service!
CHARLIE & KAREN GOLDMAN
Racquel is simply the best. She has all the latest technology to help sale your home, and she is very organized and works tirelessly on every detail and/or problem to be sure your home gets sold. We just wanted to drop a note and thank you again for what you did for us. There is no doubt that you are a great realtor that always goes way beyond what other realtors will do for their customers. Thanks a million for what you do!
DAVE & ROBYN HAYDEN
Just a note to thank you for doing such a great job listing and selling mom’s home in Kissimmee. We appreciate all of your time and efforts. I had a very positive experience with Racquel on the listing and sale of my mother’s house. She was very professional, knowledgeable, ethical and even went the extra mile by finding the outside water line shutoff and shutting it off in my absence. I would recommend her any time to anyone.
JAVIER & REBECCA SANCHEZ
As a couple, we highly recommended Racquel! We were looking for our perfect home and Racquel was more than efficient in helping us find exactly what we were looking for. Through the entire process of buying our home Racquel was highly experienced, knowledgeable and persistent. She totally helped us from beginning to end.
