Star Realty of Winter Haven Inc.

Frequently Asked Questions

What is the first step of the home buying process?

Getting pre-qualified or pre-approved for a mortgage is the first step of the home buying process. Here’s why, first you need to know how much money you can borrow. Once you know a price range you can afford, it narrows down home searching to suitable properties and prevents any wasted time considering homes not within your budget. This loan estimate from your lender will show you how much money is required for the down payment along with closing costs. Getting pre-approved by a lender allows you to have a clearer picture of what is financially required to buy a home. By receiving a pre-approval letter, it immediately helps get the ball rolling in the right direction. This letter demonstrates that you are a serious buyer to both your real estate agent and to the person selling their home.

Should I order a home inspection?

Yes, every buyer has the right to order a home inspection! Home inspections will be required if financing your home through FHA or VA Loan. With other mortgage programs, inspections are not necessarily required, however may be highly recommended. Home inspectors complete a very throughout report that can reveal any defects in a home that are not always easily detected. Home inspections help bring peace of mind to one of the biggest investments of a lifetime.

Can I determine how much my home is worth from an internet source or website?

Most likely the answer is no. Some of these third-party websites are not local to every real estate market. These websites provide estimates of homes values for practically any home in the United States. A more trustworthy source is your local Real Estate Agent, who is up-to-date and familiar with the local market. Based on active, pending, and recent sales, your agent can create a CMA (Comparative Market Analysis), which will help determine what your home is worth. A professionally complete CMA includes considerations to, but not limited too; square footage, flooring type, number of bedrooms and bathrooms, upgrades to kitchen, roof age, lot features, location, and style of residence.

When is the best time to sell my home?

You may have heard of a “seller’s market,” which is when the demand for houses exceeds the supply of houses. The demand of homes greatly rises in this market due to low inventory, which usually goes hand and hand with low interest rates. During this time, if you have been thinking about selling, now is the time to list. Sellers can get top dollar or even more money for their house in a seller’s market.

Why should you hire a property manager?

There are many responsibilities of a property manager, a few duties include: setting/collecting rent, screening tenants, property maintenance routines, emergency repairs, handling conflict situations, and managing budgets. A good property manager will save you more money in the long run by finding the right tenants and managing all aspects of your landlord-tenant relationship. Your time is very valuable, chances are you work a full-time job and have other responsibilities to take on each and every day. That’s when we step in and as your property manager, we take all the headaches away from you. Let us give you peace of mind by managing your property and addressing all subjects as needed. It’s what we are here for and what Star Realty has been doing for over 40 years.

What happens in a multiple offer situation?

Picture this: you are right in the midst of house hunting when you finally view a home that checks most of your boxes. When your agent notifies the listing agent we plan to make an offer, they reply with there are multiple offers on the home. Before you get discouraged and assume you’ll be outbid, here are a few tips that can help your offer stand out. First and foremost, get pre-approved, with multiple offer situations many sellers won’t even consider an offer without pre-approval. Communicate with your agent about contingencies, sometimes the seller will take the offer with the most flexible buyer who can move the quickest. Create a personal connection, in some cases you may include a letter to the seller with your offer. If the seller truly loves their home, they may appreciate hearing what made you fall in love with the home. Lastly, have your agent craft an offer that both the buyer and agent feel confident in.