Destin and Area Communities

Contact Karrie Rose

If you have any questions or need more detailed information, please feel free to contact me via phone at (850) 830-9502 or fill out the form to let us know how we can help with your real estate needs.

36008 Emerald Coast Pkwy, Suite 201
Destin, Florida 32541
M: (850) 543-5588
O: (850) 830-9502
F: (850) 807-2999

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Getting Ready To Buy A Home, Financially

As the single largest purchase most individuals will make in their lives, the purchase of a home should never be taken lightly. This is a long-term commitment both in terms of time and in terms of money. It makes good sense to ensure that you are financially prepared for what is to come. Certain steps are critical when considering the purchase of a new home. If you do not have you finances in perfect order, the purchase process can become extremely stressful and difficult. In preparing for the purchase of a home there are a few things that should always be done first.

Do you have a good handle on your credit? Do you know your credit score? These things have a huge impact on your home financing options. Before even considering the purchase of a home, get a copy of your credit report and study it carefully. If there are any outstanding items or issued that have not been resolved, this is the time to resolve them. Any "open files" on your credit report will negatively affect your mortgage application or eligibility. Once those items are dealt with, make sure you obtain letters of release from your credit bureau.

After your credit has been dealt with, start shopping for a mortgage. Take some time here and find the broker and mortgage that suits you. Mortgage brokers are competing for your business, not the other way around so you can afford to be choosy. This is usually a lot of money - don't rush it! What you are looking for at this point is a full pre-approval. With a pre-approval you know exactly how much you have to spend on your home and it puts you in a powerful position for bargaining. A pre-approval lets the seller know that you mean business and that the home will close quickly.

Never forget to keep your option open, the best subject to put on the contract of sale is "upon the home passing inspection." Inspections are very important, you never know what kind of shape the homes structure and innards are in until the inspection is complete. Inspections check things like the structure of the home, the wiring, plumbing system, septic system if applicable and the general quality of the home itself. If the home passes the inspection, go ahead with the offer with confidence. If the home does not pass, you have yourself a bargaining point if you are still interested. Ask the seller to complete the repairs before the sale or get an estimate on the repairs and subtract the cost from your offer. Remember, its your money, spend it wisely!