Home Buying Guide
THE JOURNEY TO YOUR NEW HOME.
Meet Our Support Team
WHEN YOU H i RE ONE O f U s , YOU H i RE all O f U s
You deserve the best support when making a life-changing decision like buying a home. That's why we offer a dedicated team of professionals working together seamlessly on your behalf. Our real estate agents combine their expertise with the tireless support of a full-time staff, ensuring you receive exceptional service at no additional cost. We'll empower you throughout the entire process, from financing options to negotiations, inspections, and valuable resources. Let our team set you up for success as you navigate the exciting journey of homeownership.
Scott Reynolds Team Leader
Kayla Montgomery Team Integrator
Janice Reynolds Marketing Director
Rea Francisco Listings Manager
Yola Sinclair Team Concierge
Abby Bass Sales Manager
Amy Smith Operations Manager & Transaction Coordinator
Taylor Becker Digital Marketing Specialist
Courtney Smith Team Concierge
Scott Frosch Team Videographer
Jhoan Figueroa Transaction Coordinator
Ana Marin Team Concierge
Exceptional Service
O v ER 500 fiv E s T a R zill OW a N d g OO gl E RE vi EW s
"Our agent did an amazing job helping us buy a home. His honesty and integrity instilled confidence. Not only only did he take the time to guide us in the best way, he went above and beyond throughout the process, going the extra mile when we needed him to. He is an absolute asset to the Reynolds Team at Compass but also for his clients. I would definitely recommend him to anyone and should we need assistance in the future when it comes to home buying or selling, we will be reaching out again to him. Thank you!"
-Katherine
"Our agent continued for at least 6 months to send me listings of condos in the area l wanted to move to. She never gave up and finally found a condo in my price range in the area l wanted to live. She was tenacious in her search and a pleasure to work with. She was honest with me about all details of the sale and, with her personality, made buying a new home an absolute pleasure. Thank you for everything!"
-Mary M.
"We have been looking for the perfect beach home for several years and our agent made our dreams come true! She is so patient and kind but most of all she knows her stuff!! We were able to transition to Florida with very few hiccups. The fact that we are not from Florida makes her above and beyond approach that much better. We just could not have done this without her. Thank you!! We appreciate you more than you will ever know!"
-Beth H.
"5 stars isn't enough!! Our agent is a consumate professional. She responds quickly to messages, her information is accurate, and she never forgets to follow up. She makes us feel like we're her only clients. She's very personable and fun to deal with. All members of the Team are fantastic to deal with, responsive, extremely knowledgeable, and very patient with our endless questions."
-Merry S..
"Our agent was very eager to help us, even though we were out of state and purchasing property site unseen, where other realtors didn't take us seriously. The transaction went very smoothly and closed in 30 days."
-Deana C.
Why Hire A Realtor
TO RE p RE s ENT YOU d UR i N g YOUR HOME p UR c H as E
Extensive knowledge of available homes on the market and home values from daily previews.
Find the best homes that meet your criteria. List agents may only show you their listings.
Find off-market homes by canvasing your target neighborhood & contacting area agents about pocket listings.
Knowledge of trusted lenders and current loan programs available.
Check for open/expired permits and assist in getting them closed.
Navigate the offer process showing you how to create an offer that will win. The list agent will negotiate the highest price for their seller!
Provide you with the HOA/Condo Rules, Docs, Budgets and Reserves.
Extensive knowledge of the contract, provide reminders on deadlines and terms.
Recommend inspectors, lenders, insurance companies, title companies and more.
Provide contact info for utilities, movers, landscapers and other important info for your new home. Present during home inspection, appraisal, and walk through.
Assistance with any post closing questions.
Work for you as your advocate!
Defining Your Ideal Home
ca TE g OR izi N g YOUR W a NT s vs . NEE ds
It's important to go into your home search with clear priorities. This includes knowing which features and amenities you need your home to have versus the ones that are nice perks.
Bucketing features into different categories and priority levels can help yo uas you review available listings and decide which homes to tour and in what order. Here is a great way to help you think about it:
Must Haves
If a home doesn't have these features, it won't work for you and your lifestyle.
Nice-To-Haves
These are features you'd love to have but can live without. Nice-to-haves aren't dealbreakers, but if the home hits all the must-haves and some of these items too, it's a contender.
Dream State
This is where you can dream bigger. Again, these aren't features you'll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it's a clear winner.
When buying a home in Florida, it's all about location and lifestyle!
Are you a boater, avid golfer, tennis lover, or beach-goer? Then you should focus your search on a community or area that offers your desired amenity.
Do you want the carefree-living of a condo or privacy of a home?
An important thing to consider if you own pets, most condos have rules against the number and type of pets you can have.
A Pre-Approval Matters
A pre-approval letter is an essential part of the homebuying process. Not only does being pre-approved bring clarity to your homebuying budget, it also shows sellers how serious you are about purchasing a home. When a seller knows you're qualified to purchase the home, you're in a better position to be the winning offer.
To get this written confirmation, you'll need to provide information about your financials, including your income, employment information in the form of W-2s and pay stubs, your credit history, and more. The lender will verify your income, employment, assets and debts, and will check your credit report. While it may sound like a lot of documentation, the right professionals will make the process quick and easy for you.
Things to avoid after applying for a mortgage:
• Don't change bank accounts.
• Don't co-sign other loans for anyone.
• Don't deposit cash into your bank accounts before speaking with your lender.
• Don't apply for new credit or close any accounts.
• Don't make any large purchases.
Home ProcessBuying
HOME s E a R c H TO O ff ER
Initial Real Estate Consultation
Determine your needs and establish a timeframe for buying.
Mortgage Pre-Approval
Choose a lender, establish a budget and get pre-approved.
Start Your Home Search
Search for homes in person or online that meet your criteria to identify "the one".
Write Offer
We provide you with current sales comparisons to help you make the best decisions regarding an offer. We discuss terms with you such as price, closing date, inspection timeframe, etc.
Negotiation and Counter Offer
We set our negotiation skills into motion so we can get you the home of your dreams for the right price and terms.
Contract to Close
Buyer's Agent Coordinates:
Home Inspection
The time period you have for the inspection was negotiated in the contract (usually 7-10 days). We have trusted Home Inspectors that we can recommend.
Repair Request (if any)
If there are any major issues with the home you can: request the seller make the repair, request a credit from the seller, move forward with the contract.
Accepted Offer
Congratulations! Your offer was accepted by the sellers.
Process
Lender Coordinates:
Formal Loan Application
Turn in all necessary paperwork to the lender, final credit report ordered, verification of all assets and debts.
Title Coordinates:
Title Commitment
Appraisal Ordered
Lender orders a home appraisal to determine home value.
Title Search
A title search is conducted to assess the legal ownership of the property and will also reveal if there are any mortgages, liens, or other encumbrances.
Loan Package Submitted to Underwriter
The loan documents and appraisal are submitted to the underwriter for approval.
Loan Commitment
The loan is approved! Closing date is scheduled and all the loan documents are sent to the title company.
Final Walkthrough
On the day of closing, you will walk through the home to make sure it is in the same condition as the day you purchased it.
Closing
You will sign closing documents at the title company along with the sellers. The loan is funded, the new deed and mortgage is recorded and the seller is paid.
Take Possession
You receive the keys to your new home!
Keys to an Effective Partnership
WOR ki N g TO g ETHER TO ac H i E v E YOUR g O al
Buyers
Finding your perfect home in today's market is achieved through an effective partnership of what you can control as the buyer, and what I can control as the agent, both working against the things that no one can control.
• Price Offered
• Terms Offered
• Contingencies
• Speed
• Follow-Through
• Communications/ Customer Service
• Finding Off-Market Properties
• Interpreting Market Data
• Negotiating Strategy
BUYERS CAN CONTROL AGENTS CAN CONTROL NO ONE CAN CONTROL
• World Events
• Local Economy
• The Stock Market
• Interest Rates
• The Price Other Buyers Are Willing To Pay
Making a Strong Offer
Know Your Budget
Knowing your budget and what you can afford is critical to your success as a homebuyer. The best first step is working with a lender and getting preapproved for a loan. Your pre-approval indicates how much you're able to borrow for your mortgage. It also shows your serious. That can give you a competitive edge and let you act quickly when you've found the perfect home.
Be Ready To Move Fast
Speed and the pace of sales are contributing factors to today's competitive housing market. When homes are selling fast, it's important to stay flexible and be ready to move quickly.
Be A Flexible Negotiator
When putting together an offer, as your trusted real estate advisor, I will help you consider which levers you can pull, including contract contingencies-conditions you set that the seller must meet for the purchase to be finalized.
Make A Strong, But Fair Offer
Lean on your agent to help you understand the market value of the home and recent sales trends in the area so you can craft your best offer.
Lean On A Real Estate Professional
No matter what the housing market looks like, rely on a trusted real estate advisor. Agents are experts in the local real estate market with insight into what's worked for other buyers in the area and what sellers may be looking for in an offer. Your agent will help you understand how to cater to what a seller needs, so your offer stands out.
BUYER paid costs
Closing Cost Breakdown
WHO pa Y s WH a T ?
SELLER paid costs
• Appraisal
• Credit Report
• Homeowner's Insurance
• Home Inspection
• Loan Fees and PMI, if applicable
• Prepaid Interest
• Title Insurance
• Closing Fees: buyer and seller each pay their own.
• Recording Fees: to file legal documents with County Recorder.
• Property Taxes: pro-rated to close date.
• HOA Capital Contribution
• Buyer Broker Commission
• Listing Broker Commission
• Home Warranty, Existing Encumbrances
• HOA Dues and Transfer Fees
• Transfer Tax: county conveyance tax.
• Owner's Title Insurance Premium
• Closing Fees: buyer and seller each pay their own.
• Recording Fees: to file legal documents with County Recorder.
• Property Taxes: pro-rated to close date.
Buyer Representation Agreement
c RE a T i N g a RE la T i ON s H ip
Berfore we start seeing properties, I ask clients to sign this agreement that allows Compass and me, as your agent, to legally and exclusively represent you and your interests. It establishes a formal relationship between us and outlines the terms and conditions under which I represent you with your property search.
Essential Components of the Buyer Representation Agreement:
1. Scope of Services: Defines the services I will provide you including property search, property showings, negotiation, and assistance with the purchase process.
2. Property Type and Location: The agreement may include details about the type of property you are interested in (ex. single family, condo, commercial property, etc.) and the geographic area where you are looking to purchase.
3. Duration: The agreement specifies the period during which you are committed to working exclusively with me (typically 1 year).
4. Compensation: The agreement specifies how Compass will be compensated as it relates to your representation. We can have a conversation at the start of your search to discuss payment scenarios so we can memorialize it in writing in this agreement. Commissions are negotiable, and we only get paid upon success.
We will review the agreement together before I ask you to sign anything.
Frequently Asked Questions
MyReynoldsTeam.com provides up-to-date information for every home on the market. I constantly check the list of New Listings so I can be on the lookout for my clients. I will get you this information right away via email. How will you tell me about the newest homes available?
Can you help me find new construction homes?
Yes, I can work with builders and get you the information you need to make a decision. On your visit with the builder, I will accompnay you. By using my services with a new construction home purchase, you will have someone advocating on your behalf. It is important that I accompany you on your initial visit to the developer's office in order for me to assist you.
How does a For Sale By Owner (FSBO) work?
Homeowners trying to sell their home without agent representation are usually doing so in the hopes of saving the listing agent commission. If you see a FSBO and want the advantages of my services, let me contact the owner for you and make an appointment. Most of the time the homewner will work with an agent even though their home is not listed since the agent is introducing a potential buyer to their property. This ensures you are fairly represented and receive all of the disclosures and documentation throughout the sale.
FAQ Continued
I will keep you informed about all homes that may be of interest to you, regardless of which agent has listed them for sale. I want to help you find your dream home, which means I need to stay on top of every home on the market. Will you inform me of homes listed by all real estate companies?
What if I have to sell my home before I buy a new one?
There are many strategies we employ when a client has to sell one property in order to buy another. It can feel like an overwhelming task, but we have quided many people safely to the "other side" and into their new home!
What should I do if I go to open houses on my own?
Open houses are a great way to see many properties in a short amount of time and explore the inventory; we encourage you to see as many properties as you can. ALWAYS sign in using my name and company at every open house you attend. After you have gone through the open houses, please call me and report your feedback on the properties-it serves two purposes: your feedback will enable me to assist you in your search and it is likely that the listing agent will be asking me how you liked the house, and I'd like to have an answer.
