buyer
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| buyer [2026/01/05 20:46] – [3. [[Under Contract Roadmap]])] vtaylor | buyer [2026/01/05 22:31] (current) – vtaylor | ||
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| //email to homebuyer// - too much info | //email to homebuyer// - too much info | ||
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| - | ==== steps / documents | + | ====== Home buying ====== |
| Buying a home in Volusia County, Florida, involves a blend of statewide regulations and local county-specific requirements. Below is the step-by-step process organized by phase, including the specific documents you will encounter. | Buying a home in Volusia County, Florida, involves a blend of statewide regulations and local county-specific requirements. Below is the step-by-step process organized by phase, including the specific documents you will encounter. | ||
| - | Phase 1: Preparation & Requirements | + | 1. Preparation & Requirements |
| - | Before looking at houses, you must establish your " | + | Before looking at houses, you must establish your " |
| * Financial Preparation: | * Financial Preparation: | ||
| - | * Pre-Approval Letter: A document from your lender stating the specific loan amount you qualify for. In Florida' | + | * Pre-Approval Letter: A document from your lender stating the specific loan amount you qualify for. Sellers may not even look at an offer without this. |
| * Buyer’s Representation Agreement: As of August 2024 (per NAR settlement), | * Buyer’s Representation Agreement: As of August 2024 (per NAR settlement), | ||
| - | Phase 2: The Offer & Contract | + | 2. Offer & Contract |
| - | Once you find a home in cities like Daytona Beach, DeLand, or New Smyrna Beach, you move to the legal offer phase. | + | Once you find a home, you move to the legal offer phase. |
| * The Sales Contract: Most transactions use the FR/BAR " | * The Sales Contract: Most transactions use the FR/BAR " | ||
| * Escrow/ | * Escrow/ | ||
| * Mandatory Disclosures: | * Mandatory Disclosures: | ||
| * Seller’s Property Disclosure: A multi-page document where the seller lists known issues. | * Seller’s Property Disclosure: A multi-page document where the seller lists known issues. | ||
| - | * Flood Disclosure | + | * Flood Disclosure: sellers must now provide a separate, standalone Flood Disclosure (Form FD-1) regarding past flood claims. |
| * HOA/Condo Disclosure: If the home is in a managed community, you must receive and sign this. | * HOA/Condo Disclosure: If the home is in a managed community, you must receive and sign this. | ||
| - | Phase 3: Due Diligence | + | 3. Due Diligence |
| In Florida, the standard " | In Florida, the standard " | ||
| * General Home Inspection Report: A detailed look at the structure and systems. | * General Home Inspection Report: A detailed look at the structure and systems. | ||
| - | * Wind Mitigation Inspection: | + | * Wind Mitigation Inspection: verifies the roof’s ability to withstand hurricanes and is required by insurance companies to give you discounts. |
| * Four-Point Inspection: Required for homes older than 20 years to check the HVAC, Electrical, Plumbing, and Roof. | * Four-Point Inspection: Required for homes older than 20 years to check the HVAC, Electrical, Plumbing, and Roof. | ||
| * Wood Destroying Organism (WDO) Report: Checks for termites, which are prevalent in Central Florida. | * Wood Destroying Organism (WDO) Report: Checks for termites, which are prevalent in Central Florida. | ||
| - | Phase 4: Financing & Title Finalization | + | 4. Financing & Title Finalization |
| While you wait for the "Clear to Close," | While you wait for the "Clear to Close," | ||
| * Appraisal Report: Your lender orders this to ensure the home is worth the loan amount. | * Appraisal Report: Your lender orders this to ensure the home is worth the loan amount. | ||
| * Title Commitment: A document from the title company (or attorney) ensuring the seller has the right to sell and identifying any liens. | * Title Commitment: A document from the title company (or attorney) ensuring the seller has the right to sell and identifying any liens. | ||
| - | * Property Survey: A map of the property boundaries. In coastal areas of Volusia, this is vital to check for easements or encroachment. | + | * Property Survey: A map of the property boundaries to check for easements or encroachment. |
| - | * Lien Search: | + | * Lien Search: to ensure there are no outstanding utility bills or permit violations on the property. |
| - | Phase 5: Closing Day & Document Finalization | + | 5. Closing Day & Document Finalization |
| This is the " | This is the " | ||
| Line 52: | Line 51: | ||
| * Florida Documentary Stamp Tax: A state tax paid on the deed and the mortgage (customarily split between buyer and seller). | * Florida Documentary Stamp Tax: A state tax paid on the deed and the mortgage (customarily split between buyer and seller). | ||
| - | Phase 6: Move-In & Post-Closing | + | 6. Move-In & Post-Closing |
| Ownership is yours, but there are a few final Volusia-specific administrative tasks. | Ownership is yours, but there are a few final Volusia-specific administrative tasks. | ||
| - | * [[Utility Transfer]]: Most Volusia providers (like Volusia County Water, | + | * Utility Transfer: |
| - | * [[Homestead Exemption]] Application: | + | * Homestead Exemption Application: |
| - | * Note: You must do this by March 1st of the year following your purchase to lower your property taxes and cap your assessment increases at 3% per year. | + | |
| * Keys & Garage Openers: Ensure you receive all " | * Keys & Garage Openers: Ensure you receive all " | ||
| Line 68: | Line 66: | ||
| * Lender Introduction: | * Lender Introduction: | ||
| - | ==== Phase 2: The Active Search (Buyer) or Listing (Seller) ==== | + | ==== 2. The Active Search (Buyer) or Listing (Seller) ==== |
| This is where you show your market expertise. | This is where you show your market expertise. | ||
| Line 82: | Line 80: | ||
| * Loan Application: | * Loan Application: | ||
| * Appraisal & Survey: When these will be ordered, usually required by a lender. | * Appraisal & Survey: When these will be ordered, usually required by a lender. | ||
| - | ==== Phase 4: Closing & Post-Closing ==== | + | |
| + | ==== 4. Closing & Post-Closing ==== | ||
| As the finish line nears, shift the focus to administrative logistics. | As the finish line nears, shift the focus to administrative logistics. | ||
| - | * [[Utility Transfer]] | + | * [[Utility Transfer]] |
| - | * " | + | * " |
| - | * [[Homestead Exemption]] Reminder: | + | * [[Homestead Exemption]] Reminder: in January of the year following purchase, file with the Volusia County Property Appraiser by March 1st to save money on taxes. |
buyer.1767645998.txt.gz · Last modified: by vtaylor