Home Buying and Selling Guide

BUYING A HOME

GUIDE SELLING YOUR PROPERTY

Amanda Searle, Broker Associate | Realtor® ROOT REALTY | 904.710.5702 | amanda@rootrealtyjax.com | www.amandasearlerealtor.com

Contents 1. ABOUT ME 2. WHY WORK WITH A REALTOR®?

3. BUYING a. Path to Home Ownership b. Is Buying a Home Right for You Right Now? c. What Are Closing Costs? d. 5 Hidden Costs of Homebuying e. Choosing a Lender f. Home Inspection Myths + Misconceptions 4. SELLING a. Path to Selling a Home b. Is This a Good Time to Move Up or Down? c. Closing Costs for Sellers d. Stage Your Home to Sell e. Frequently Asked Questions About Buying and Selling 5. RESOURCES 6. TERMS TO KNOW

Hi! Thanks for picking up this GUIDE! I hope it is a useful resource for you as you begin your journey - whether you are Buying or Selling.

I understand that buying or selling a home is more than just a transaction: it’s a life-changing experience and not something that most people just dive into.

I am dedicated to providing exceptional, personalized service for all of the customers that I work with. I take great pride in the relationships I build with my customers and want to help you transition into that next step in your life.

When I am not working, I love cooking, running, hanging out with my husband and pets (we have a lot), and gardening (I am a Certified Master Gardener volunteer with the Extension Office), It’s also important to me to support local businesses because they make the communities we choose to live in all the more special.

We all have unique needs, and our lives are always changing. I want to help you find the right home for you and your lifestyle, if you are buying. Or just make that move into a new part of your life easier, if you are selling.

I’ve been a Realtor® since 2003 and love what I do.

Amanda Amanda Searle, Broker Associate | Realtor® ROOT REALTY | 904.710.5702 | amanda@rootrealtyjax.com | www.amandasearlerealtor.com

Why Work with a Realtor®?

Not all real estate practitioners are REALTORS®. The term REALTOR® is a registered trademark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics. Here are some reasons why it pays to work with a REALTOR®.

1. Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.

2. Information and opinions. REALTORS® can provide local community information on utilities, zoning, schools, and more. They’ll also be able to provide objective information about each property.

A professional will be able to help you answer these two important questions: Will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

3. Help finding the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your REALTOR® to find all available properties.

4. Negotiating skills. There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and inclusion or exclusion of repairs, and included personal property. In addition, the purchase agreement the contract will have deadlines + contingencies for Buyers and Sellers. A Realtor® will help both parties keep up with these. Your agent can advise you as to which investigations and inspections are recommended or required.

5. Property marketing power. Real estate doesn’t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a Realtor®’s contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.

6. Someone who speaks the language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with a professional who is immersed in the industry and knows the real estate language.

7. Experience. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. Even if you have done it before, laws and regulations change.

REALTORS®, on the other hand, handle hundreds of real estate transactions over the course of their career. Having an expert on your side is critical.

8. Objective voice. A home often symbolizes family, rest, and security — it’s not just four walls and a roof. Because of this, homebuying and selling can be an emotional undertaking. And for most people, a home is the biggest purchase they’ll every make or sell. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.

BUYING A HOME

GUIDE

Is Buying a Home Right for You Right Now? Whether buying a home is right for you right now depends on a variety of factors, including your personal circumstances, financial situation, and long-term goals. Here are some considerations to help you determine if it's the right time for you to buy a home: Financial Stability: Assess your current financial situation. Do you have a stable income, manageable debt, and an emergency fund? Buying a home typically requires a down payment, closing costs, and ongoing expenses like property taxes and maintenance. Ensure you can comfortably handle these costs without compromising your financial stability.

Long-Term Plans: Consider your long-term goals. Do you plan to stay in the area for several years? Buying a home makes more sense if you plan to live in it for an extended period, as it can take time to recoup the initial costs of purchasing a home.

Market Conditions: Research the local real estate market. Are home prices in your area rising, stable, or declining? Low-interest rates can make buying more attractive, but it's essential to evaluate whether current market conditions align with your goals.

Rent vs. Buy Analysis: Compare the cost of renting a similar property to buying one. In some cases, renting might be more cost-effective, especially if home prices are high, and you don't plan to stay in the area for an extended period.

Mortgage Rates: Pay attention to mortgage interest rates. Low rates can make homeownership more affordable. You can consult with mortgage lenders to determine what rates and loan options are available to you.

Down Payment: Consider how much you can afford to put down as a down payment. A larger down payment can result in a lower monthly mortgage payment and potentially save you money over the life of the loan.

Your Lifestyle: Think about your current lifestyle and how it might change in the future.

Do you value the stability and control that comes with homeownership, or do you prefer the flexibility of renting?

Maintenance and Repairs: Owning a home comes with maintenance and repair responsibilities. Are you prepared for the time and financial commitments that come with maintaining a property?

Future Plans: Consider any major life changes or career moves you anticipate in the near future. Buying a home can be a long-term commitment, so ensure it aligns with your future plans.

Financial Goals: Evaluate how homeownership fits into your broader financial goals.

Will it help you build equity and wealth over time, or could your resources be better utilized elsewhere?

Ultimately, the decision to buy a home is a personal one and should be based on your unique circumstances and goals. It's often helpful to consult with a financial advisor or a real estate professional to assess your situation and determine if buying a home is the right choice for you at this time.

What Are Closing Costs?

Closing costs are the fees and expenses associated with the purchase or sale of a property and are typically paid at the closing of a real estate transaction. These costs can vary depending on factors like the location, the type of property, and the specific terms of the deal. Closing costs are typically divided between the buyer and the seller, although this can be negotiated as part of the purchase agreement. Here are some common closing costs: 1. Loan Origination Fees: These are fees charged by the lender for processing and underwriting the mortgage loan.

2. Appraisal Fee: Lenders often require an appraisal to determine the property's value, and the buyer typically pays for this.

3. Credit Report Fee: Lenders pull a credit report on the buyer and charge a fee for this service.

4. Title Search and Title Insurance: Title companies search public records to ensure the property's title is clear of any liens or legal issues. Buyers typically pay for title insurance to protect against title defects.

5. Escrow Fees: An escrow company may be involved in handling the transfer of funds and documents, and they charge fees for their services.

6. Property Taxes: Depending on when you close, you may need to pay a portion of the property taxes upfront for a part of the year that you own a property.

7. Recording Fees: These are fees charged by the local government to record the sale of the property.

8. Private Mortgage Insurance (PMI): If the buyer makes a down payment of less than 20%, they may need to pay for PMI, which protects the lender in case of default.

9. Homeowner's Insurance: Buyers are typically required to prepay for homeowner's insurance, which protects the property against damage.

It's important to note that closing costs can add a significant amount to the total cost of buying a home, often ranging from 2% to 5% of the purchase price. Sellers also have their own set of closing costs, including real estate agent commissions and other fees.

Buyers can negotiate who pays for certain closing costs as part of the purchase agreement, but make a solid offer price if you go this way.

Also, it's a good idea to discuss these costs up front with your real estate agent and lender and be prepared for them when budgeting for a home purchase.

5 Hidden Costs of Home Buying 44% of Homebuyers report that they weren’t aware of all of the costs associated with buying a home. Here are the Top Expenses that new homebuyers sometimes forget to factor in:

1 Closing Costs.

In addition to your down payment, there will be closing costs assoicated with your home purchase. There are associated with the loan. Talk to your lender about what your closing costs will be. They will be dependent on what type of loan you are getting, the purchase amount, taxes, and insurance.

2 Moving Costs

Depending on how far away you are moving from and how much stuff you are moving, there will of course, be moving expenses. Don’t forget to add these in. There are many options to choose from as well such as hiring a company to do the whole move, doing it yourself, or using something like a POD,

3 Home Inspections

Home Inspections are done during the beginning of the contract process.

There are many that will probably be required such as a 4 Point Inspection for your insurance company, and a WDO Inspection depending on the age of the house. General Home Inspections+ are recommended.

4 Furnishing

Your new home will likely need some new furnishings - for instance, your old couch or dining room table may not fit in the new rooms. Another cost are window furnighingsfurnishingsif there are none in the home - these can be expensive so remember to factor them in and budget for them.

5 Potential Renovations

You bought your new home because you loved it but there may be some repairs that you weren’t able to negotiate with the seller or just some items that you would like to update or make more conducive to your lifestyle. Some of these may not be necessary right off the bat, but some might be so put a little money aside for the upfront items.

16 Questions to Ask a When Choosing a Lender Loan terms, rates, and products can vary significantly from one lending company to the next. Talking to several different lenders can help you get the best terms possible. Your Real Estate Associate is a great resource for local lenders. Working with local lenders is highly recommended - they know your local laws and contracts.

General Questions: What are the most popular mortgages you offer? Why are they so popular?

Are your rates, terms, and fees negotiable?

Do you offer discounts for inspections, homeownership classes, or automatic payment set-up?

Will I have to buy private mortgage insurance? If so, how much will it cost and how long will it be required?

What escrow requirements do you have?

Loan Specific Questions: What would be included in my mortgage payment (homeowner’s insurance, property taxes, etc.)

Which type of mortgage plan would you recommend for my situation?

Who will service this loan - your bank or another company?

How long will the rate on this loan be locked-in? Will I be able to obtain a lower rate if the market rate drops during the lock-in period?

How long will the loan approval process take?

How long will it take to close the loan?

Are there any charges or penalties for prepaying this loan?

How much will I be paying in total over the life of this loan?

Home Inspection Myths + Misconceptions

1

The Inspection is Pass/Fail. Home Inspectors do not determine whether a home passes or fails. They evaluate the condition of a home and report any defects. Ultimately it is up to you to determine whether or not to buy the house.

2

The Seller will repair every defect found. While the Inspector’s report can be used as a negotiating tool, Sellers are not obligated to make any repairs. NOTE: If negotiating over repairs, focus on items that could be costly to repair or are insurance issues.

3

Home Inspectors determine the value of a house. The focus of a home inspection is the condition of the home; an appraiser determines a fair market value.

4

Home Inspectors determine if a house is up to code. Inspectors are looking foe defects that could affect the safety of your family or the value of the home. Code inspections, on the other hand, look for compliance with certain building standards. Just because something is not up to code, does not make it a home inspection defect. NOTE: Sellers do not have to bring a home up to code either.

5

New construction homes don’t have to be inspected. New construction homes can have costly defects that could be expensive to repair. Problems can occur if a builder cuts corners, doesn’t follow manufacturer’s instructions, or workers simply make mistakes.

Confirm your contract allows you to get a pre-drywall and before closing inspection.

6

Home Inspectors check for termites. In Florida, termites have to be performed by a licensed pest company.

GUIDE SELLING YOUR PROPERTY

Is This a Good Time to Move Up or Down?

Deciding whether to move to a larger home or downsize depends on your specific circumstances and goals. Here are some factors to consider when making this decision: 1. Current and Future Needs: Evaluate your current and future housing needs. If your family is growing, you may need more space. Conversely, if your children have moved out, downsizing might make sense.

2. Financial Considerations: Consider your financial situation. Moving to a larger home typically means a higher mortgage, property taxes, and maintenance costs.

Downsizing can free up money for other purposes or help reduce monthly expenses.

3. Market Conditions: Research the real estate market in your area. It's essential to understand whether you're buying or selling in a buyer's or seller's market. This can affect the price you get for your current home and the cost of your new one.

4. Location: Assess your current location. Is it still convenient for your needs? If not, moving might be a good idea, regardless of whether you upsize or downsize.

5. Emotional Attachment: Consider your emotional attachment to your current home. If you have strong sentimental ties to your current home, it might be harder to downsize.

6. Maintenance and Lifestyle: Think about the maintenance requirements of your current home and how they align with your desired lifestyle. Larger homes may require more upkeep, while downsizing can reduce the workload.

7. Economic Factors: Economic factors like interest rates and inflation can impact the cost of borrowing money for a larger home or the value of your current home.

8. Retirement Plans: If you're approaching retirement, think about how your housing choice fits into your retirement plans. Downsizing can free up funds for retirement, while a larger home might not align with your financial goals.

9. Community and Amenities: Consider the amenities and community aspects of both your current location and potential new homes. Will the new home offer the lifestyle you desire?

10. Environmental Impact: Think about the environmental impact of your housing choice. Smaller homes generally have a lower carbon footprint.

It's important to thoroughly assess your unique situation and consult with a financial advisor or real estate expert if necessary. Additionally, create a detailed budget and long-term financial plan to ensure that your housing decision aligns with your overall financial goals and lifestyle aspirations. Ultimately, the right choice depends on your personal circumstances and priorities.

Closing Costs for Sellers Closing costs for home sellers can vary depending on several factors, including the location of the property, the terms of the sales contract, and local real estate customs. Here are some common closing costs that home sellers may be responsible for: 1. Real Estate Agent Commissions: This is typically the largest expense for sellers. Real estate agents typically charge a commission based on the final sale price of the home. The commission is typically paid to the Seller’s Broker who then pays a Buyer’s Broker out of that amount.

2. Title Insurance: Sellers often pay for a title insurance policy to ensure that the title to the property is clear and free of any disputes or claims.

3. Transfer Taxes: Some states and local jurisdictions impose transfer taxes on the sale of real estate. The seller may be responsible for paying these taxes.

4. Prorated Property Taxes: Property taxes are typically prorated so that the buyer and seller each pay their share of property taxes for the portion of the year in which they owned the property.

5. Outstanding Liens and Judgments: If the seller has any outstanding liens or judgments against the property, these will need to be paid off at closing.

6. Home Warranty: In some cases, sellers may offer a home warranty to the buyer as part of the sale, which they will need to pay for at closing.

7. Attorney Fees: In some states, it's common for sellers to hire an attorney to assist with the closing process. If an attorney is involved, their fees would be a seller's closing cost.

8. Recording Fees: Fees for recording the deed and other documents with the county or municipality may be the responsibility of the seller.

9. Home Repairs or Credits: If the buyer requests repairs or credits for issues discovered during inspections, the seller may need to cover these costs. Some repairs maybe required by the Buyer’s lender, insurance company, or appraiser to be repaired by the seller prior to closing.

It's important to note that the specific closing costs can vary significantly depending on the circumstances of the sale and the local real estate market.

Sellers should consult with their real estate agent and/or attorney to understand their closing costs and obligations in their specific transaction.

Additionally, it's common for buyers and sellers to negotiate who pays for certain closing costs as part of the sales contract, so the allocation of these costs can vary from one deal to another.

Stage Your Home to Sell 4 Reasons to Stage: Your home will shine online. Buyers first found 92% of the homes they visited on the internet. Good staging can make your home stand out online and drive more Buyers to see it in person.

It shows off potential. 77% of agents say that staging makes it easier for Buyers to visualize a property as their future home.

It spurs walk-throughs. Buyers are more willing to walk through a home that has been staged.

Your home will sell faster and for more money. Nearly two-thirds of agents say that staging reduces the amount of time a property spends on the market and those homes also sell for more.

Simple Fixes Agents Recommend: Declutter - 93% Full Home Cleaning - 89% Carpet Cleaning - 81% Remove Pets Before Showings - 80% Make Minor Repairs - 75% Depersonalize the Home - 72% Paint Walls - 68%

The 6 Most Important Rooms to Stage: Living Room Owner’s Suite Kitchen Outdoor Dining Room Bathroom

RESOURCES

Homestead Exemption + Portability: Buyers + Sellers If you will be purchasing another property in Florida, then it’s important to understand Homestead Exemption and Portability.

The Florida Homestead Exemption and Portability are two important aspects of property tax benefits in the state of Florida, aimed at reducing the property tax burden for homeowners.

1. Florida Homestead Exemption: The Florida Homestead Exemption is a constitutional benefit that reduces the taxable value of a primary residence for qualified homeowners. It is available to individuals who make Florida their permanent residence and use the property as their primary residence.

The exemption can provide substantial savings on property taxes by exempting a portion of the property's assessed value from taxation. The amount of the exemption can vary from year to year based on factors such as the assessed value of the property and changes in the law.

To qualify for the Florida Homestead Exemption, you must meet certain criteria: You must be a permanent Florida resident.

The property must be your primary residence as of January 1st of the year for which you are applying.

You must file an application for the exemption with your county's property appraiser's office by the deadline, typically March 1st.

2. Portability: Portability is a provision that allows homeowners in Florida to transfer a portion of the accrued Save Our Homes (SOH) benefit from their old homestead property to a new homestead property within the state. The SOH benefit caps the annual increase in the assessed value of a homesteaded property, resulting in potential tax savings.

Portability essentially allows homeowners to retain a portion of the tax savings they enjoyed on their previous homestead when they purchase a new one.

To use portability, you must meet the following criteria: You must have a homestead exemption on your current property.

You must purchase a new homestead property within two years of abandoning the old one.

The new property must become your primary residence as of January 1st.

You must apply for portability when applying for the homestead exemption on your new property.

It's important to note that the specific rules and regulations regarding the Florida Homestead Exemption and Portability may change over time, and there may be variations between different counties in Florida. Therefore, it's advisable to consult with your county's property appraiser's office or a qualified real estate professional for the most upto-date information and guidance on these benefits.

Change of Address List 1. United States Postal Service (USPS): File a change of address with the USPS to forward your mail to your new address. You can do this online or at your local post office.

2. Banks and Financial Institutions: Notify your bank, credit union, and any other financial institutions where you have accounts, loans, or credit cards.

3. Employer: Inform your employer of your new address to ensure that your paychecks, tax forms, and other work-related documents are sent to the correct location.

4. Insurance Providers: Update your address with your health, auto, life, and homeowners or renters insurance providers.

5. Utility Companies: Notify your electric, gas, water, sewer, cable, internet, and phone service providers about your address change to avoid service disruptions.

6. Credit Card Companies: Update your billing address with all credit card companies.

7. Subscriptions: Inform magazine and newspaper subscriptions, as well as any other subscription services, of your new address.

8. Government Agencies: Update your address with the following government agencies: Department of Motor Vehicles (DMV) for driver's license and vehicle registration.

Social Security Administration (SSA) for Social Security benefits.

Voter registration office.

IRS (Internal Revenue Service) for tax purposes.

State and federal agencies providing benefits, such as Medicaid or Medicare.

9. Medical Providers: Notify your doctors, dentists, and other healthcare providers of your new address.

10. Schools: If you have children, update their school records with the new address.

11. Online Retailers + Services: Update your address on your accounts with online with companies like Amazon, eBay, Netflix, and other streaming services.

12. Friends and Family: Inform friends and family members of your new address to receive personal mail and packages.

13. Employment Contacts: Inform professional contacts, such as clients, colleagues, and professional associations, of your new address.

14. Charities and Nonprofits: If you donate to or receive mail from charitable organizations, notify them of your address change.

15. Delivery Services: Update your address with any meal delivery services or subscription boxes you use.

16. Credit Bureaus: To prevent identity theft, update your address with credit reporting agencies, such as Equifax, Experian, and TransUnion.

17. Legal and Financial Advisors: Notify your attorney, accountant, and financial advisor of your new address.

18. Pets' Microchip and Vet Records: Update your pets' microchip information and notify your veterinarian of your new address.

Remember to update your address promptly to avoid any inconvenience or delays in receiving important documents or services. It's also a good idea to set up mail forwarding through the USPS for a temporary period to catch any mail that may still be sent to your old address.

Utility Company Contacts Jacksonville Jacksonville Electric Authority (JEA): (electric, water, sewer, trash) https://www.jea.com People’s Gas (TECO): http://www.peoplesgas.com/

St Johns County St. Johns County: (electric, water, sewer, trash) http://co.st-johns.fl.us/ People’s Gas (TECO): http://www.peoplesgas.com/

Move with Pets Update your pet’s tag with your new address. Make sure your pet’s collar is sturdy and correctly sized. The tag should also include your mobile number and e-mail address so that you can be reached during the move.

Request veterinary records. Ask your current vet to send your pet’s medical history directly to the new vet. Have their contact information handy in case of emergency or if the new vet has questions.

Keep a week’s worth of food and medication with you. You may want to ask for an extra prescription refill before you move. Take the same precaution with special therapeutic foods.

Seclude them from chaos. Keep your pet in a safe, quiet room on moving day with a clear sign posted on the door. There are many light, collapsible travel crates available, but ensure it is well ventilated and sturdy enough for stresschewers. Also, introduce your pet to the crate before the trip.

Prepare a pet first aid kit. Include your vet's phone number, gauze to wrap wounds or to muzzle your pet, adhesive tape for use on bandages, nonstick bandages, towels, cotton swabs, antibiotic ointment (without pain relief medication), and 3% hydrogen peroxide.

Play it safe in the car. Use a crate or carrier in the car, securing it with a seat belt. Never leave your pet in the bed of a truck, the storage area of a moving van, or alone in a parked vehicle. If you’re staying overnight, find pet-friendly lodging beforehand and have kitty litter or plastic bags on hand.

Get ready for takeoff. When traveling by air, check with the airline about pet requirements or restrictions and whether you must purchase a special airline crate that fits under the seat in front of you.

Prep your new home. Set up one room with everything your pet will need: food, water, medications, bed, litter box, scratch post, and toys. Keep windows and doors closed when your pet is unsupervised, and beware of small spaces where nervous pets may hide. If your old home is nearby, give the new home owners or neighbors your phone number and a photo of your pet, in case your pet tries to return.

Learn about local health concerns and laws in your new area. If you’re moving to a new country, contact the Agriculture Department or embassy of the country to obtain specific information on special documents, quarantine, or costs related to bringing your pet into the country.

What to Have on Hand for the New Owners Before the property changes hands, consult this list to make sure these items are transferred with the house.

Owner’s manuals and warranties for any appliances left in the house.

Garage door opener(s).

Extra set of house keys.

Other keys. Think beyond the front doors; do you have any cabinets or lockers built into the home that require keys?

A list of local service providers, such as the best dry cleaner, yard service, plumber, and so on. You’re not just helping the new owners, but also the local businesses you’re leaving behind.

Code and use instructions to the security alarm and phone number of the monitoring service if not discontinued.

Smart home device access. Any devices listed as fixtures need to be reset for the new homeowner. Make sure your account information and usage data are wiped from the device so that they may use it. Check with your device’s manufacture to find out how to do this.

Numbers to the local utility companies. This can be especially helpful to owners who may not yet have easy access to the Internet in the new home.

Contact info for the condo board or home ownership association, if applicable.

Moving Checklist Moving can be a stressful and complex process, but a well-organized moving checklist can help you stay on top of everything and make the transition smoother.

Here's a comprehensive moving checklist to guide you through the process: 8-12 Weeks Before the Move: 1. Create a Moving Binder: Start a dedicated folder or binder to keep all your moving-related documents, receipts, and notes organized.

2. Budget Planning: Determine your moving budget and start saving if necessary.

3. Hire Movers or Decide on a DIY Move: Decide whether you'll hire professional movers or handle the move yourself.

4. Research Moving Companies: If hiring movers, research and get quotes from several moving companies. Check their reviews and credentials.

5. Create a Moving Timeline: Outline a rough schedule for your move, including key dates like the move-in and move-out dates.

6. Notify Schools and Healthcare Providers: If you're moving to a new area, inform schools and healthcare providers about your upcoming move.

7. Start Decluttering: Begin sorting through your belongings and decide what to keep, donate, sell, or discard.

6-8 Weeks Before the Move: 1. Gather Packing Supplies: Collect boxes, packing tape, bubble wrap, packing paper, and other necessary packing supplies.

2. Inventory Your Belongings: Create an inventory of your belongings to help with packing and later, with unpacking.

3. Change of Address: Start the process of changing your address with the post office, utilities, and relevant organizations.

4. Notify Important Contacts: Inform friends, family, and important contacts about your change of address.

5. Start Packing: Begin packing non-essential items and label boxes with their contents and the room they belong in.

4-6 Weeks Before the Move: 1. Finalize Moving Date: Confirm your moving date with the moving company or finalize your DIY moving plans.

2. Notify Service Providers: Contact your current utility providers and schedule service disconnections for your moving day.

3. Set Up Utilities: Arrange for utilities to be connected at your new home.

4. Update Insurance: Notify your insurance companies (home, auto, health) of your upcoming move and update your policies as necessary.

5. Notify Financial Institutions: Inform your bank and credit card companies about your change of address.

Moving Checklist Continued...

2-4 Weeks Before the Move: 1. Complete Packing: Continue packing, focusing on items you use less frequently.

2. Label Everything: Clearly label all boxes with their contents and destination rooms.

3. Create an Essentials Box: Pack a box with essential items you'll need immediately after the move (toiletries, clothes, important documents, etc.).

4. Hire a Cleaning Service: Schedule a cleaning service for your current home, especially if you're renting.

5. Confirm Moving Details: Reconfirm the details with your moving company or arrange transportation for your DIY move.

1 Week Before the Move: 1. Pack a Moving Day Kit: Prepare a box with snacks, water, and any items you'll need on moving day.

2. Confirm Details: Confirm the moving date, time, and address with your moving company or helpers.

3. Defrost the Freezer: If you're taking appliances, defrost and clean the refrigerator and freezer.

Moving Day: 1. Final Walkthrough: Do a final walkthrough of your old home to ensure nothing is left behind.

2. Supervise the Move: If using movers, supervise the loading and unloading of your belongings.

3. Check for Damage: Inspect your items for any damage during the move and note it on the moving company's paperwork.

After the Move: 1. Unpack Essentials Box: Start by unpacking your essentials box.

2. Update Important Records: Update your driver's license, voter registration, and other important records with your new address.

3. Explore Your New Area: Familiarize yourself with your new neighborhood and locate essential services.

4. Thank You Notes: Send thank-you notes or emails to friends, family, and the moving company if applicable.

Remember that every move is unique, so you may need to adjust this checklist to fit your specific circumstances. Planning ahead and staying organized will help make your move as smooth as possible.

TERMS TO KNOW

Glossary Adjustable Rate Mortgage (ARM): A mortgage that provides for periodic changes in the interest rate, based on changing market conditions.

Amortize: To liquidate or extinguish (a mortgage, debt, or other obligation), especially by periodic payments to the creditor or to a sinking fund, to write off a cost of (an asset) gradually.

Annual Percentage Rate (APR): Annual percentage rate: the annual rate of interest; the total interest to be paid in a year divided by the balance due. Appraisal: The act of estimating or judging the nature or value of something or someone. An estimate of value, as for sale, assessment, or taxation; valuation.

Closing: The final step in property purchase where the title is transferred from the seller to the buyer. At closing the seller receives payment for the property. Also known as settlement.

Closing Costs: Fees charged to a purchaser by a bank, lawyer, etc. For services related to a sale, a title search, an appraisal, etc. Any expenses over the purchase price of a house, land, etc., that is paid by the purchaser or seller at the completion of the sale.

Contingency: A clause in a purchase contract outlining conditions that must be fulfilled before the contract is executed. Both buyer and/ or seller may include contingencies in a contract, but both parties must accept the contingency.

Conventional Loan: A private sector loan, one that is not guaranteed or insured by the U.S. Government.

Deed: A writing or document executed under seal and delivered to effect a conveyance, especially of real estate.

Disclosures: The release of relevant information about a property that may influence the final sale, especially if it represents defects or problems. “Full disclosure” usually refers to the responsibility of the seller to voluntarily provide all known information about the property. A seller found to have knowingly lied about a defect may face legal penalties.

Earnest Money/Binder: Money given by a buyer to a seller to bind a contract.

Easement: A right held by one property owner to make use of the land of another for a limited purpose, as right of passage.

Fannie Mae (FNMA): A federally-chartered enterprise owned by private stockholders that purchases residential mortgages and converts them into securities for sale to investors; by purchasing mortgages, Fannie Mae supplies funds that lenders may loan to potential home buyers.

Federal Housing Administration (FHA): Provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. FHA insures mortgages on single family and multifamily homes including manufactured homes and hospitals.

Fixed-Rate Mortgage: A home mortgage for which equal monthly payments of interest and principal are paid over the life of the loan, usually for a term of 30 years.

Freddie Mac: Federal Home Loan Mortgage Corporation (FHLM); a federally chartered corporation that purchases residential mortgages, secures them, and sells them to investors; this provides lenders with funds for new home buyers.

Glossary Lien: The legal claim of one person upon the property of another person to secure the payment of a debt or the satisfaction of an obligation Origination Fee: A fee charged by a lender for evaluating and processing a loan application, usually a percentage of the face value of the loan.

PITI: Principal, interest, taxes, and insurance.

Promissory Note: A written promise to pay a specified sum of money to a designated person or to his or her order, or to the bearer of the note, at a fixed time or on demand.

Rate Lock: A commitment by a lender to a borrower guaranteeing a specific interest rate over a period of time at a set cost.

Settlement Statement: The HUD-1 Settlement Statement is a standard form in use in the United States of America which is used to itemize services and fees charged to the borrower by the lender or broker when applying for a loan for the purpose of purchasing or refinancing real estate.

Title: In property law, a title is a bundle of rights in a piece of property in which a party may own either a legal interest or equitable interest. The rights in the bundle may be separated and held by different parties. It may also refer to a formal document, such as a deed, that serves as evidence of ownership.

Title insurance: Insurance protecting the owner or mortgagee of real estate from lawsuits or claims arising from a defective title. Underwriting: The process of analyzing a loan application to determine the amount of risk involved in making the loan; it includes a review of the potential borrower’s credit history and a judgment of the property value.

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AMANDA SEARLE, BROKER ASSOCIATE | REALTOR® ROOT REALTY | 904.710.5702 | AMANDA@ROOTREALTYJAX.COM WWW.AMANDASEARLEREALTOR.COM