What it takes to Buy a 55 Plus Palm Beach County Home

What it takes to buy real estateHave you been renting and getting tired of it?
Are you ready to purchase your first home?
Are you ready to move into a larger home?
Are you needing to relocate?
Are you exploring whether this is the right time for you to purchase?
If  “YES” to any of the above, the following quizzes are you.
Homes are affordable and haven’t been this low since 1971.  Mortgage rate are also very low.  Are your finances ready????

How Smart a Home BUYER Are You?
Regardless of current real estate market conditions, knowing more about the home buying process will save you time, money and hassles.

Here is a ten question  quiz s to see how prepared you are to buy a house.

Should You Buy a Home?
Prices have dropped  and the question being asked… is now a good time to leap into ownership?
That depends on you and your finances. Take our ten-question quiz to see if you know the rules to smart home buying in any real estate market — and find out if you’re ready to make this commitment:

Assuming that you are satisfied with the results of the above.  Now it’s time to do your homework.  Approximatly 90% of home buyers today are searching on-line.  If you’ve found a few that appeal to you, it’s wise to drive by and look at them.  Curb Appeal and location will present themselves to you.

A better idea would be to seek a qualified real estate agent (The Harelik Team) to help in your search.  I recommend you continue to search on your own BUT I suggest that you let your real estate agent search also.  When we find  a property that meets your criteria, you get an automatic email of that property.  That way, you can do you searching from the comfort of your own computer.
If you are a first time home buyer, the link below is a 4+ minute segment from the Today Show that is very informative.  Click on the Link Below.

Will you Qualify for a Mortgage?
Lenders look for the 3 C’s to determine you mortgagability. They are
  1. Credit History (Credit Score & record of debt and repayment)
  2. Capacity (Savings and Investments)
  3. Collateral (Down Payment and value of the property)
Lenders will verify employment for the past two years and predict the just how likely it is for you to keep your job.
When you’re ready to put an offer in on a home, you must have either
  1. Mortgage – A preapproval letter from a lending institution which is better than from a mortgage broker.
  2. Cash Buyer – Proof of Funds (Current Bank Statements showing you have the funds to purchase).
Need to know if you qualify?  Get a fast answer at    Can I Qualify for a Mortgage

How much cash do I need upfront?
In addition to earnest money (deposit with your offer) you’ll also need money for closing costs — approximately  3% to 6% of the home’s purchase price.  You can use a gift for your earnest money, down payment, closing costs or reserves.

How do I find a good real-estate agent?
Well, if you’re on this web site (and you are) you’ve already found one. The Harelik Team has been serving South Florida for over 26 years. (we must be doing something right).  We provide service for all residential properties in Palm Beach County.  Our Coldwell Banker office is in Wellington and we also specialize in Over 55 Communities and Ocean View Properties.  As a buyer, you’re off the hook for payment for your real estate agent.  Fortunately for you, the Seller pays our fee.

We hope you found this information useful.  Have any questions, give us a call.
The Harelik Team
Candace and Joel

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8188 Jog Road Suite 101
Boynton Beach, FL 33472

Candace: 561-927-7566
Joel: 561-374-4030

Office: 561-735-3000
Fax: 561-429-2195