GETTING YOU PRE QUALIFIED
If you require financing for your purchase, the first step is to get you pre-qualified before you can start viewing properties. This way Mario will know how much you can afford to spend and will find you properties according to your budget. You will need to meet with a loan officer at a bank or a mortgage broker who will get you the best financing options. You can ask Mario for his preferred lender or mortgage broker and he will refer them to you. If you don’t require financing you can start viewing properties with Mario immediately.
Mario will then find the best condo, house or investment property in the market that suits your specific needs according to your price range and area of choice. Mario will meet with you to review your choices and set up an appt. to go view them.
making an offer / writing the contract
Once you’ve found the property that you want to purchase Mario will put a Purchase and Sale contract together on your behalf and present it to the Seller. If the you and the Seller agree on the terms and a contract is executed by both parties, you will need to make a deposit with a Title Company to hold in escrow and the Due Diligence period begins.
title company / escrow
Mario will set you up with a Title Company who will hold your deposit in escrow until the day of closing. They will perform title services for you such as making sure the title is valid and free of liens. They will also perform the closing and any related items.
If you choose to do a Home Inspection, which Mario always suggests for single family homes or older condos, he will set it up and have the inspector visit the property for the inspection. Mario can suggest his preferred inspection service company which does a thorough inspection and then sends you the report with photos via email.
If you’re purchasing a condo a condo application will be required by the condo association to be filled out by all buyers. Mario will provide you with this application and will help you fill it out or assist you with any questions you might have. The process usually takes 1-2 weeks for approval.
working with lender / title company
The financing process takes about 30-45 until the bank is ready to close. During this period of time there is a lot of documents and paperwork required by the bank and title co which Mario will assist in getting such as condo questionnaires and estoppel letters. Good communication and efficiency is essential during this process in order to achieve a smooth closing. If you’re paying cash for a property the process is much quicker and a closing can some times be done in a few days to a couple weeks depending on the title company.
Once the lender is ready with all required paperwork and loan is ready for disbursement, you can close. You will need to bring a certified funds check to the closing or if wiring funds, those must be sent the day prior. Mario will advise you of the total amount of your balance to close prior to the closing date. If it’s a cash transaction all you will need to do is bring the funds and sign the HUD or closing statement which will take less than ten minutes. If it is a financed transaction there is a lot of paperwork involved from the bank and a typical closing will take at least an hour or more.The closing manager or escrow officer will do the closing and guide you through the signing of documents. Mario will be present at the closing with you to answer any questions you might have about the documents you’re signing. Once the closing is done you are the new proud owner of your new home or property!!
title / warranty deed
Your title to the property or Warranty Deed which is used in Florida, will be sent to you via mail to the address you give the title co. Mario will be in constant communication with the title company until you receive your title.