GET REAL JACKSONVILLE

with Caitlyn Finnegan

Homebuyers Guide to the First Coast
Everything you need to know to have a smooth home-buying experience




Caitlyn Finnegan
Keller Williams Atlantic Partners
caitlynfinnegan@gmail.com 904-800-8030
www.getrealjacksonville.com www.firstcoast365.com

YOUR HOMEWORK
Need some direction to start your home search? Heres what I need from you plus some of the first steps you
can expect to take as we get this rolling and get a grasp on where were starting from.

Choose a mortgage broker/lender. I recommend comparing at least two mortgage
lenders to see who will give you the best terms and rates. If you need
recommendations of local lenders, I would be happy to give you some.

Sign the buyer representation agreement. This makes us official and gives me the
legal obligation to work on your side and in your best interest.

Discuss disclosures and Consent to Dual Agency

Review estimated closing costs + down payment strategies

Get a list of home inspectors so youll be ready to call them up

Send a copy of your preapproval letter to me as well as the contact info for your
mortgage broker

Review the NEFAR Purchase and Sale contract so you are familiar with it when it
comes time to write an offer

Get clear on your wants and needs (you can use the form below) and then well set
up automatic listing updates so youll be alerted whenever a matching property
comes on the market



Have more questions? Id be happy to answer them.

WANTS VS. NEEDS

One of the most important first steps is to make a list of your wants and needs; what would be nice to have
and what features would be deal breakers when it comes to finding the one? Heres a starting checklist, well
talk more during our first meeting.

TIMELINE INFORMATION
Deadline for Locating a Home: ____________________
Required Move-In Date: _____________________

Need-to-Have features:

_____________________________________________________________________

_____________________________________________________________________

Nice-to-Have features:

_____________________________________________________________________

_____________________________________________________________________

Any preferences for neighborhood or area? __________________________________
Preferred Price Range: From ________________to_________________
Prefer: _____ Home _____Condo ____ Townhome ____Duplex/Triplex____Other
Preferred Age of Home: ________________ Style: ___________________________

Bedrooms: _________ Bathrooms: _________Garage Size: __________

Important Features
___Home Office ___ Porch___ Patio ___ Kitchen Island ___ Wood Floors
___Large Yard___Walkable Community___ Carpet ___ Fireplace ___ Pet Friendly
___Swimming Pool ___ Gated Neighborhood ___ Near Highly Rated Schools
___Beach Access___High Ceilings ___Energy Star Features ___Walk-in Closets

Other Notes

________________________________________________________________________

PREP FOR EXTRA COSTS

Here are some of the common costs that are paid by the buyer when purchasing a home in NE Florida.
Remember: everything is negotiable and you can ask the seller to help pay closing costs. There can be more or
less than what is below depending on the property. Plan to spend 3% to 5% of the purchase price on closing
costs.

Binder Deposit (typically 1% of the purchase price)
A check submitted with the offer that binds the buyer to the home. This is credited back to the buyer at
closing.
Home Inspection ($250 - $500)
Depends on the inspector. The size and type of home makes the difference.
Wood Destroying Organism (WDO) Inspection ($75 - $150)
This inspection looks for any wood rot or damage from wood-destroying insects (termites, powder post
beetles, etc). If you are financing your home through a VA loan, the seller must pay for the inspection.
Mortgage Origination Cost (can range widely)
This is the fee your lender is charging to originate, process, underwrite and close your loan. It will typically be
separated into three costs: the Origination Fee, the Processing Fee and Underwriting Fee. When you are
comparing lenders to use, this is the number you want to compare them by.
Recording Fee ($9.25 per page in Duval County)
Minimal, but can add up quickly since some mortgages can have 10, 20 even 30 pages.
Flood Certification Fee ($25 - $75)
The lender charges this fee to verify what flood zone the property is in and if it requires flood insurance.
Intangible Tax ( .002 * loan amount)
State tax on a note, bond or other obligation of payment that is secured through a mortgage deed or lien.
Note Stamps ( .0035 * loan amount)
State tax that goes to the Florida Department of Revenue
Mortgage Insurance Premium (currently .0175 * loan amount)
One of the most controversial parts of the FHA loan. The lender benefits from the insurance, but the cost is
passed on to the buyer.
Appraisal ($350 - $650)
Depends on the type of loan and the type of property. Required by the lender to validate the value of the
home, not intended to serve as an inspection.
Credit Report ($25-$40)
The cost from your lender to check your credit.
Pre-paid Items (varies)
These are costs that your lender will likely require to be set aside in an escrow account that will be used for
taxes (6-12 months worth), home insurance (3-6 months worth), and any interest on the loan (depends on the
time of the month when closing is taking place. Less money the closer to the end of the month.)

Talk with your lender thoroughly before signing anything, they will provide a Good Faith Estimate of all their
costs within 3 days of your loan application. Negotiate with the seller for help with any other closing costs.

Thou Shalt Not

(10 things to NOT do before final loan approval)

1. Thou shalt not change jobs, become self-employed or quit your job.
2. Thou shalt not buy a car, truck or van (or you may be living in it!)
3. Thou shalt not use charge cards excessively, let your accounts fall behind or close a line of credit.
4. Thou shalt not spend money you have set aside for closing.
5. Thou shalt not omit any debts or liabilities from your loan application.
6. Thou shalt not make large furniture or appliance purchases.
7. Thou shalt not originate any inquiries into your credit.
8. Thou shalt not make any large deposits without first checking with your loan officer.
9. Thou shalt not change bank accounts.
10. Thou shalt not co-sign a loan for anyone.

After the closing, feel free to do any of these things at your own discretion.

WORKING WITH KELLER WILLIAMS ATLANTIC PARTNERS
Keller Williams Atlantic Partners is the top producing Keller Williams office in Florida with four offices in
Jacksonville Beach, Southside, Amelia Island and St. Augustine.

We are fully staffed with brokers, office administrators, tech support, a legal team and more than 200 agents,
which means I can focus on helping you and not sweat the small stuff. We also have connections with some of
the top finance and home service professionals in the area, which means you have a tried-and-true team to turn
to throughout the transaction.

A TEAM OF HOME PROFESSIONALS
Need help getting your home team assembled? Contact me and Ill send you my recommended service
providers list, featuring local mortgage brokers who can help you get preapproved, home inspectors, title
companies, movers, real estate attorneys, home cleaners, interior designers and a collection of other valuable
home professionals.


Looking forward to working with you!!
Caitlyn Finnegan
Keller Williams Realty Atlantic Partners
904-800-8030, caitlynfinnegan@gmail.com
getrealjacksonville.com