THE HOME BUYER’S GUIDE
for your homeownership journey
CENTURY 21 | BEGGINGS ENTERPRISES
Congratulations
You made the first step in the home-buying process; finding a Realtor to work with! Let’s get started. We are looking forward to working with you!
We understand that this is one of the most emotional and exciting times in life, and we're here to support you every step of the way. We take our responsibility very seriously, ensuring you have the experience and care you need to ease any concerns.
Here at the CENTURY 21 Beggins Companies, we are highly skilled and prepared in the industry. Our training program focuses on Empowering, Educating, and Encouraging our agents to deliver top-notch service and access the wealth of resources we have accumulated over 30+ years of experience. The Beggins Family introduced the Century 21 Franchise to Florida and selling over 50,000 homes has shaped us into a highly efficient operation.
We will be here right by your side every step of the way. We look forward to earning your trust and having you as our next happy customer for life.
What To Expect
INITIAL CONSULTATION
We'll review your Lifestyle Profile, identifying important lifestyle wants and needs like commute times and neighborhood amenities, and you'll sign our representation agreement.
FINANCIAL PREPARATION
We'll work together with a lending partner to find the ideal price point for your comfort level.
HOME SEARCH
Now that search parameters and desired price points have been established, we’ll begin our targeted search process that matches your desires to find “the one.”
MAKING AN OFFER
We'll craft a strong offer. You can feel comfortable relying on our expert negotiation skills.
INSPECTIONS AND APPRAISALS
An appraisal determines the home’s market value and satisfies lender requirements. Home inspections reveal the home’s condition and repairs that need to be made, which can be used in negotiations.
PREPARE TO MOVE
Connect you with moving services and utility providers for a smooth move.
THE CLOSING
Coordinate with the title company and lender, provide continuous support and a dedicated back office team for assistance, resulting in a successful closing.
Lifestyle Profile: Defining Your Dream Home
To better understand your unique needs and preferences, fill out this Lifestyle Profile. By listing your must-haves and like-to-haves for your new home, you will be able to tailor your home-buying journey to fit your lifestyle, ensuring we find the perfect property for you.
APPRAISAL
A report highlighting the estimated value of the property completed by a qualified third party.
AFFORDABILITY
A measure of whether someone earns enough to qualify for a loan based on the most recent price, income, and mortgage rate data.
CLOSING COSTS
Fees for services such as appraisals, inspections, and title insurance, usually 3-6% of the loan amount.
PITI
Principal, interest, taxes, insurance (PITI) makes up the sum of the mortgage payment.
CREDIT SCORE
A number ranging from 300 - 850 that's based on an analysis of your credit history.
DEBT-TO-INCOME RATIO
Your monthly debt divided by your gross monthly income.
DOWN PAYMENT
Down payments are typically 3.5 - 20% of the purchase price of the home. Some 0% down programs are also available.
ESCROW
An initial deposit on the home purchase that accompanies the offer.
INSPECTION CONTINGENCY
A contract clause requiring an inspection to inform you about the home's condition and potential repairs.
MORTGAGE RATE
The interest rate you pay to borrow money when buying a home.
MORTGAGE INSURANCE
Required for down payments less than 20%.
PRE-APPROVAL LETTER
A letter from a lender that shows what they’re willing to lend you for your home loan.
PROPERTY TAXES AND INSURANCE
Annual costs that can be paid monthly with your mortgage.
The Power of Pre-Approval
Mortgage pre-approval means a lender has reviewed your finances and determined how much you're qualified to borrow.
FACTORS THAT MAY IMPACT PRE-APPROVAL
Income
Assets
Credit History
Employment
Debt
BENEFITS OF PRE-APPROVAL
Gives you clarity when determining your homebuying budget.
Helps sellers know your offer is serious.
You can be more confident in your ability to secure a loan.
THINGS TO AVOID AFTER APPLYING FOR A MORTGAGE
Do not change bank accounts.
Do not apply for new credit or open a credit line.
Do not deposit or move large sums of money in your bank accounts.
Do not miss any payments on accounts.
Do not make any large purchases on credit.
Do not co-sign other loans for anyone.
Do not make changes to your name, address, job, or income.
Before engaging in any financial activities, fully disclose your intentions with your lender.
Closing Costs
What are they and how much will you pay?
WHAT ARE CLOSING COSTS? Closing costs are processing fees that must be paid when the property title is transferred from seller to buyer. The specific closing costs you'll need to pay depend on the type of loan.
WHAT DO CLOSING COSTS COVER? Costs differ based on location, property, and loan type. Some of these costs could include fees for:
Loan application
Appraisal
Lien and Title Searches
Survey
Title Insurance
Pro-Rated Property Taxes
Lender's Title Policy
Mortgage Recording Fees
Underwriting
Realtor Service Fees
Inspections (and if the home is older, additional inspections may be needed for the roof, plumbing, a/c, electric, septic, and/or foundation)
HOW MUCH ARE CLOSING COSTS? Usually between 3 - 6% of the loan amount. This means that if the mortgage amount is $400,000, expect closing costs to be approx $12,000 to $24,000.
WHAT’S CLOSING DISCLOSURE? A Closing Disclosure outlines all the costs associated with the new loan, along with other closing costs, and how much money will be needed at the time of closing.
Inspections
FOR YOUR PROTECTION, GET A HOME INSPECTION.
Home inspections are a crucial step in the buying process. They provide an in-depth look at the property’s condition, helping you avoid costly surprises.
A professional inspector will assess the home’s structure, systems, and overall safety, ensuring it meets your expectations.
COMMON ISSUES FOUND DURING INSPECTIONS
During an inspection, some common issues might be uncovered, such as roof damage, plumbing problems, electrical issues, and foundation cracks.
Identifying these problems early allows for renegotiation with the seller or ensures necessary repairs are made before closing.
RECOMMENDED FOR ALL HOMES
Home inspections are recommended for all types of homes no matter the age, including newly built homes. And, depending on the age and condition of the home, consider a more extensive evaluation of the HVAC, plumbing, electrical, or roof, performed by a licensed contractor specific to those items.
Ready for Closing
E-SIGNING AND STORING DOCUMENTS
Complete, sign, and share documents easily and securely with Dotloop. Organize and store documents long after closing.
SETTING UP UTILITIES AND SCHEDULE MOVERS
Before moving in, ensure all utilities and services, such as electricity, water, internet, and garbage collection, are set up and transferred to your name. If you’re interested, we’ll connect you with Utility Helpers, who will help coordinate utility transfers and connect you with moving companies at no cost to you.
PODS CONTAINERS
Take advantage of CENTURY 21's special promotion with PODS Moving and Storage Containers. Visit pods.com/century21. Or call 866-940-7637. Promo Code: CENT
HOME WARRANTY
A home warranty provides peace of mind and financial protection by covering major home systems and appliances, helping you manage unexpected repair costs. If you’re interested, we’ll connect you with Global Home USA.
FINAL WALKTHROUGH BEFORE MOVING IN
A final walkthrough of the property is conducted a day or two before closing. This ensures the home is in the agreed-upon condition and that any requested repairs have been completed. It’s your last chance to address any issues before finalizing the purchase.
CUSTOMER SATISFACTION SURVEY
After closing, we invite our clients to complete a Quality Service Survey through an independent company called Real Satisfied. We encourage honest and real feedback.
BUYERS - BE AWARE of Major Changes
Whether you’re Buying Real Estate or Selling Real Estate, this message is important to you! Because, even when you sell, you’re likely to become a Buyer! As you embark on your home-buying journey, we want to keep you informed about an important change in the real estate process that will affect all buyers nationwide.
What’s New?
Due to a recent settlement of a Department of Justice lawsuit against the National Association of REALTORS and nearly all Brokerages and Agents in the Country, it is now mandatory for buyers to sign a Buyer Broker Agreement before viewing any properties with an agent.
This policy is designed to ensure transparency and protect your interests throughout the home-buying process. When you break the Settlement down, there are only a few substantial changes.
One – The MLS, a tool used by the brokerage community to disclose compensation, is no longer allowed to disclose compensation. So, an agent will no longer know what commission they will be receiving.
Two – All commissions are negotiable and a Seller no longer has to offer commission to a Buyer’s Agent (Commissions have always been negotiated but it still remains in the Sellers best interest to offer compensation to the Buyers agent, otherwise the Buyer will have to come out of pocket to pay their agent) and Three – An agent is not permitted to show properties to a Buyer unless the Buyer signs a Buyer Broker Agreement that clearly spells out how much commission the Buyer is willing to pay their Buyers Broker. Note: The Buyers Agent can request that the Seller pay the Commission on behalf of the Buyer, but if the Seller says no, the buyer would be obliged to pay the commission. Hence why it’s in the Sellers best interest to offer compensation to a Buyer’s Agent.
Why Is This Important?
Clear Representation: The Buyer Broker Agreement solidifies our commitment to representing you, ensuring that your needs and preferences are our top priority.
Transparency: This agreement outlines the services we will provide and the responsibilities of both parties, fostering a more collaborative relationship.
Nationwide Compliance: This change is part of a broader effort to standardize real estate practices across the country, so all buyers will be required to adhere to this policy.
Next Steps
Before we can begin looking at homes together, we’ll need you to review and sign the Buyer Broker Agreement. We are here to answer any questions you may have about the agreement or the home-buying process in general.
Your Home Search Starts Here!
Once the agreement is in place, we can hit the ground running and find the perfect home for you. We appreciate your understanding and cooperation as we navigate this new requirement together. If you have any questions or would like to discuss this further, please don’t hesitate to reach out.
Embracing this practice not only attracts quality representation but also expands market reach, streamlines transactions, and maximizes sale potential. As the real estate landscape continues to evolve, adaptability remains key, ensuring that sellers thrive amidst change while staying true to the timeless principles of the trade.
Let’s Get Started
We know this process can be both thrilling and a bit overwhelming, and we're here to support you every step of the way. We take our responsibility very seriously, ensuring you have the experience and care you need to ease any concerns.
As a buyer, you will need to sign an agreement with us as your buyer's agent. This agreement, called the Buyer Brokerage Agreement, is essential as it:
outlines our obligations to each other
explains how we represent you in finding and purchasing your home
details how we earn our fee
It's a way to make sure we’re both on the same page and committed to working together.
We’ll be in your corner, negotiating the best price and terms, and guiding you through each step of the process.
Buyer Broker Agreement
Recent regulations have been implemented industry-wide that require buyers to sign a representation agreement with any real estate agent they choose to work with. This agreement outlines what buyers can expect from their agents
Thank You!
As your trusted real estate agent, we’re here to provide the expertise and dedication needed to help you find your perfect home.
Our goal is to provide you with all the information you need to make informed decisions and to ensure you feel confident and supported every step of the way.
Feel free to contact me with any questions or concerns. Let’s turn your real estate goals into reality!
My name is Kevin Freel, and I'm a real estate agent with CENTURY 21 LIST with Beggins in the Tampa Bay Area. I've been in the real estate industry since 1985. Originally from Indiana, my family moved to Dunedin in 1970.
I started selling properties in Dunedin, Clearwater & Palm Harbor. I moved to South Tampa in 1996 and eventually expanded the areas I covered. I'm proud to help families sell and buy throughout the Tampa, The Beaches, St Pete, Clearwater, Lutz, and Odessa areas.
I'm passionate about providing an amazing client experience, and I thrive on helping my clients buy, sell, invest, and even lease out their properties. My expertise guides you through the entire process, from start to finish. I provide unique strategies tailored to your needs, ensuring your real estate dreams become a reality.
When I'm not helping clients, my hobbies include working out, biking, traveling, and trying new foods. I'm always seeking ways to stay active and explore the Tampa Bay Area.
I'm proud to be an experienced real estate advisor for over 38 years. It's a privilege to have served over 1,000 families.
Agent Profile: Kevin Freel
Real Estate Salesperson – License #459950 FL FHE
Direct Phone: (727) 410-8599
Office Phone: (813) 658-2121
Email: kevinfreel@c21be.com