Smith & Smith Realty Inc.'s Blog
When you close on a home, you’re sealing the deal with all of the agreements that you have made with the seller and your lender over the course of the home buying process. Since most people don’t pay cash for a home, your loan will also close at the same time as the ownership changes. If you are paying cash, the process may be slightly different. Closings can also be called “settlements” since everything is being signed and sealed at this time, essentially, “settling” the deal.
Have Your Checkbook Ready
The closing is where documents are exchanged, the keys are passed on, and all of the funds required to complete the transaction are paid. Closing costs include the down payment that you’re putting on the home, lawyer’s fees, taxes, commissions, assessments, and more. The seller may be writing a check too, paying off the old loan to their former home. You’ll need to verify the amount that needs to be paid at closing clearly before you reach the closing table. The money must be presented at the time of closing in order for the deed to be handed over.
Get A File Folder And Stretch Your Writing Hand
The settlement on a home requires quite a bit of paperwork. You’ll be handed a stack of papers to sign. Take the time to listen to your lawyer or realtor to understand exactly what you’re signing. There’s more papers to sign than you really can imagine! Finally, you’ll be handed copies of all the papers that you put your signature on. It’s important to keep everything for your records. These documents will include everything from proof of insurance to the deed on the property to your loan terms and documentation.
Where Will The Closing Be?
Depending on where you live, your closing will take place in either the lender’s office or the office of a lawyer who is representing the closing. Typically, it will be the loan company’s attorney who holds the event in this case. In some cases, closings can be what is known as “witness only.” This means that a notary or attorney will be present at the chosen closing location to provide documents. The drawback to this type of transaction is that nothing that you’re signing will be explained to you.
What Happens Following Closing?
When all the I’s are dotted and the T’s are crossed, congratulations! You’re the proud owner of a new property. Unless there has been a prior agreement made with the seller, you’ll be able to take possession of the property right away. Occasionally, there will be some post-closing agreements that involve transactions due to a repair that couldn’t be made or reimbursements for real estate property taxes that were paid on the part of the seller. Ideally, this will all be taken care of at the closing table, but at times other arrangements must be made.
If you want to purchase a luxury house in Miami, Orlando or elsewhere in Florida, it pays to be diligent. That way, you can speed up the process of going from luxury homebuyer to luxury homeowner.
Although it initially might seem like buying a luxury house in Florida will be a fast, seamless process, it is essential to note that various hurdles may arise along the homebuying journey. And if you're not careful, these hurdles may prevent you from acquiring your ideal Sunshine State luxury residence.
Lucky for you, there are many things that you can do to accelerate the process of buying a Florida luxury house, such as:
1. Make a Luxury Homebuying Checklist
Do you want to own a Florida luxury home that boasts a massive in-ground pool? Or, would you prefer a Sunshine State luxury house that is located just minutes from Disney World? Make a luxury homebuying checklist, and you can determine exactly what you want from your ideal luxury house.
A homebuying checklist can help you establish priorities as you search for your perfect Florida luxury house too. If you use this checklist to differentiate between your Florida luxury home must-haves and wants, you should have no trouble discovering your ideal Sunshine State luxury residence in no time at all.
2. Get Your Finances in Order
Purchasing a Florida luxury house likely will require you to obtain a jumbo mortgage. Fortunately, you can apply for a jumbo mortgage today to ensure you have your finances in order whenever you decide to submit an offer on a Sunshine State luxury home.
Meet with a variety of banks and credit unions to learn about all of the jumbo mortgage options at your disposal. Then, you can evaluate your options and select a mortgage that corresponds with your finances. And once you have a mortgage in hand, you'll be ready to enter the Florida luxury housing market and pursue your ideal residence.
3. Collaborate with an Expert Real Estate Agent
Regardless of whether you want to buy a luxury house in St. Augustine, Tampa Bay or any other Florida city or town, an expert real estate agent can help you make your luxury homeownership dream come true.
An expert real estate agent knows exactly what it takes to identify and address potential luxury homebuying hurdles. As such, this housing market professional will do everything possible to help you overcome these problems, increasing the likelihood of a fast homebuying journey.
Furthermore, an expert real estate agent understands the ins and outs of the local housing market and can help you plan accordingly. This means if you want to purchase a luxury house close to the beaches in Miami, a real estate agent can help you accomplish your goal. Comparatively, if you want to buy a luxury house near family members in Gainesville, a real estate agent will make it simple for you to do just that.
Ready to purchase a Florida luxury house? Use the aforementioned tips, and you can speed up the homebuying journey.
You always want to be safe in your new home, but bringing home a new baby brings your safety protocol to a whole new level. In the first few months of life, the baby won’t be getting into too much trouble. By the time the baby can crawl, however, it’s a whole different story. This is why you want your home prepared before the baby even gets there. You should keep your home free of hazards. No more boxes in the way on the floor. The glass coffee table may need to be put away for a time. The nature of your home will certainly change once your little bundle of joy arrives. Below, you’ll find some of the most basic baby safety measures that you can take around your home in order to bring it from normal home to “baby proof.”
You’ll want to look at your home from the level of a child. Anything that you feel he or she could get into when you’re on the floor on your hands and knees is fair game.
Lock Drawers And Cabinets
Both drawers and cabinets should be locked in the bathroom, kitchen, even in your office. You never know what a baby can get himself into! This is especially important for drawers and cabinets that have sharp objects like knives, scissors, or tools. Any cabinets that have chemicals, heavy pans, or anything else you don’t want a child getting into should have a lock on them. Locks for cabinets are available in both the interior style or exterior style safety lock. Both types of locks can be easily installed in cabinets and drawers in order to prevent children from opening them, yet giving the adults in the house continued access to the things that they need.
These small plastic fittings come in a variety of types and styles. Some insert into the outlets themselves while others cover the entire outlet plate. Some snap onto the outlet while others open like a door. You’ll want to choose a type of outlet cover that will work best for your needs. You don’t want an inconvenience when you do use the plug and you also don’t want a lot of small plastic pieces hanging around the home to be just another hazard to your child.
Gates are one of the most valuable safety items that parents can install for their kids. Gates can be installed in doorways where the child shouldn’t have immediate access. These safety measures are also important at the bottom and top of each stairway in the home. Baby gates come in all shapes and styles, so you’ll want to decide what works best for your needs in the home. Some gates are mountable while others are detachable and portable from room to room. Some gates even have extension pieces that are available to be installed along with them to fit rooms of all sizes.
Bumpers get their name because they prevent exactly what the name states-bumping! You’ll want to put these bumpers and corner guards to cover any rough or sharp edges around your home. Consider covering the following areas of your home:
- Coffee tables
- Wood stoves
Anything with a sharp corner or edge needs to be covered to prevent your child from injury.
Baby Proofing can be a difficult task, but with the right tools, you’ll be able to protect your precious little one from harm around your other big investment- your home.
With dozens of beautiful beaches, many outstanding attractions and landmarks and warm, comfortable temperatures year-round, there's a lot to like about living in Florida. As such, Florida luxury houses are in high demand, and those who want to purchase a Sunshine State luxury home may need to act quickly to find the perfect residence.
Ultimately, there are several factors to consider before you buy a Florida luxury home, and these include:
1. What You Want in a Dream Home
Do you want a Florida luxury residence with a built-in spa and swimming pool? Or, would you prefer a Sunshine State luxury home with a rich, luscious garden? Think about what you want to find in your ideal Florida luxury house, and you can narrow your home search.
Oftentimes, creating a checklist of luxury home must-haves is a great idea. This list will enable you to differentiate home must-haves and wants, and as a result, help you speed up your search for the perfect Florida luxury house.
It also helps to be realistic as you kick off a Florida luxury home search. In many instances, it is virtually impossible to find a luxury house that will have every item on your homebuying checklist. But if you prioritize your checklist, you'll be better equipped than ever before to discover a Florida luxury house that matches or surpasses your expectations.
2. How Much Money You Can Spend on a Home
As a luxury homebuyer, you may need to obtain a jumbo mortgage before you enter the Sunshine State housing market. Fortunately, if you reach out to lenders today, you can find a jumbo mortgage that suits you perfectly.
Remember, when it comes to getting a jumbo mortgage, it helps to consult with several lenders. This will enable you to learn about a variety of jumbo mortgage options and select the best option based on your finances.
Keep in mind that you likely will need to have money on hand for a down payment too. Thus, if you plan to acquire a luxury house in Orlando, Miami or elsewhere in the Sunshine State, you'll want to save money ahead of time to cover the down payment on your home.
3. Where You Want to Live
The luxury homes in the Everglades are far different from the luxury residences in South Beach. At the same time, the luxury houses in Naples may prove to be more expensive than those in Gainesville. Therefore, you'll want to consider where you want to live prior to starting a home search so you can plan accordingly.
Lastly, it generally helps to hire a real estate agent to guide you along the homebuying journey.
A real estate agent understands the ins and outs of the Florida luxury housing market. He or she can keep you up to date about luxury houses in Florida cities and towns where you want to live and help you submit a competitive offer on your dream house. By doing so, this housing market professional will ensure that you can acquire the perfect Sunshine State luxury residence at your convenience.