Pater Domus Real Estate

Is it time to sell my home?

Leandro Gularte — Wed, 12 Jun 2024 12:08:29 +0000

Questions to Ask

When Considering Selling

These questions will help you decide whether you’re ready for a home that’s larger or in a more desirable location. If you answer yes to most of the questions, you may be ready to move.

Have you built substantial equity in your current home?

Check your annual mortgage statement or call your lender to find out how much you’ve paid down. Usually you don’t build up much equity in the first few years of your mortgage, as monthly payments are mostly interest. But if you’ve owned your home for five or more years, you may have significant, unrealized gains.

Has your income or financial situation changed?

If you’re making more money, you may be able to afford higher mortgage payments and cover the costs of moving. If your income has decreased, you may want to consider downsizing.

Have you outgrown your neighborhood?

The neighborhood you pick for your first home might not be the same one in which you want to settle down for good. You may have realized that you’d like to be closer to your job or live in a better school district.

Are there reasons why you can’t remodel or add on?

Sometimes you can create a bigger home by adding a new room or building up. But if your property isn’t large enough, your municipality doesn’t allow it, or you’re simply not interested in remodeling, then moving to a bigger home may be your best option.

Are you comfortable moving in the current housing market?

If your market is hot, your home may sell quickly and for top dollar, but the home you buy will also be more expensive. If your market is slow, finding a buyer may take longer, but you’ll have more selection and better pricing as you seek your new home. Ask your real estate professional what they see happening locally.

Is the effort and cost of maintaining your current home becoming difficult to manage?

A Real Estate Professional can help you decide whether a smaller house, condo, or rental would be appropriate.

Selling Your Home

Step-By-Step Guide

Step 1

Meet with the Agent

There is no commitment on your part for the initial meeting. It will be educational and let you know next steps and help you decide whom you feel comfortable representing you in the transaction.

Step 1

Step 2

Establish a Price

Your real estate agent will provide a market analysis which evaluates comparable homes in your area to determine the best asking price.

Step 2

Step 3

Prepare Your home

View your home through the eyes of a prospective buyer and ask yourself what you’d expect. Your agent will provide some useful ideas for decluttering, staging, or improvements. The next step is photographing the home, so you want to make it as attractive as possible.

Step 3

Step 4

List It For Sale

Once the home is ready for sale, your agent will begin advertising the property and make it available in the multiple list service so all real estate professionals can view and share with their buyers.

Step 4

Step 5

Offer And Contract

Your agent will guide you through the buyers’ offers and negotiation process. Once an offer has been accepted and a signed contract is in place, the buyer will begin the process of getting an appraisal and property inspections.

Step 5

Step 6

Closing

This is the transfer of funds and ownership. You will sign several documents and arrange to receive the sale proceeds. Typically, you will have emptied the house of your belongings for the new buyer. Be sure to have keys to all doors (and sheds or garages) along with alarm codes or other necessary information for the new owner.

Step 6

Leandro Gularte

Real Estate Broker

Pater Domus Real Estate

Selling a House with a Mortgage: What You Need to Know

Leandro Gularte — Wed, 12 Jun 2024 10:46:35 +0000

Selling A House With A Mortgage: What You Need To Know

Selling a house with an outstanding mortgage can seem daunting, but it’s a common process and entirely manageable with the right information and preparation. Here’s a comprehensive guide to help you navigate through it.

Understanding Your Mortgage Payoff Amount

The first step is to determine your mortgage payoff amount. This is the amount you need to pay to fully satisfy the loan. Contact your lender to get the exact payoff amount, which includes the remaining principal balance plus any interest and fees.

Evaluating Your Home’s Equity

Your home equity is the difference between your home’s market value and the outstanding mortgage balance. High equity can be beneficial, as it means you’ll have more money left after paying off the mortgage. If your equity is low, you might need to bring additional funds to closing to cover the remaining mortgage balance.

Listing Your Home

Once you know your payoff amount and equity, you can list your home. Consider hiring a real estate agent to help you with pricing, marketing, and negotiations. Ensure your home is in good condition to attract potential buyers and possibly increase its value.

Receiving and Accepting an Offer

When you receive an offer, review it carefully with your agent. Look beyond the price—consider the buyer’s financial stability and the timeline they propose. Once you accept an offer, the closing process begins.

The Closing Process

During closing, the mortgage payoff amount will be paid directly to your lender from the sale proceeds. Here’s what typically happens:

Finalizing Paperwork: You’ll sign documents related to the sale and transfer of ownership.
Payoff Statement: The lender provides a payoff statement to the closing agent, detailing the exact amount required to pay off the mortgage.
Disbursement of Funds: The closing agent disburses funds to pay off the mortgage, cover closing costs, and then gives the remaining proceeds to you.

Handling Potential Challenges

Negative Equity: If you owe more on your mortgage than your home’s market value, you’re in a situation known as negative equity or being “underwater.” Options include a short sale, where the lender agrees to accept less than the mortgage amount, or negotiating with the lender for a payoff arrangement.
Mortgage Contingency: Ensure your sales contract includes a mortgage contingency clause, protecting you if the buyer’s financing falls through.
Timing: Coordinate the sale of your current home with the purchase of your new home to avoid overlapping mortgages or being temporarily without a home.
Final Thoughts

Selling a house with a mortgage is a routine part of the real estate market. By understanding your mortgage details, evaluating your equity, and carefully navigating the selling process, you can successfully sell your home and move forward with your next chapter. Always consider consulting with real estate professionals and financial advisors to ensure a smooth transaction.

How much is my home worth?

Leandro Gularte

Real Estate Broker

Pater Domus Real Estate

Buying your Orlando Home

Leandro Gularte — Wed, 22 May 2024 10:05:04 +0000

Orlando

Home Buyers Process

The purchase of an Orlando home is probably one of the biggest financial decisions you will ever make. Whether this is your first Central Florida home purchase in any of the Orlando, Lake Nona, St. Cloud, Hunter’s Creek, or other markets, or you are moving up to a different home that better meets your needs, this decision must be made carefully.

DETERMINE YOUR NEEDS – BUYERS CONSULTATION

Define your Orlando Home Needs: Why do you want to buy? Have you outgrown your current home? Would you like a larger yard? Would you rather live in a different area? Do you want to shorten your commute? Are you looking for a family-friendly neighborhood? Or maybe you are in search of the peaceful setting of an Orlando suburb. Defining your needs and goals will help you throughout the buying process, and it will assist your Orlando Real Estate Agent with the process of finding the perfect home for you.
Establish your Budget: What can you afford to buy? Central Florida home ownership is a great investment. The tax benefits of home ownership can also provide considerable advantages to you. Prepare yourself by defining your budget prior to contacting your Orlando Real Estate Agent. With this determination, you will have taken an important step in streamlining the search for your Orlando home or estate.
Time to Buy: Once you have chosen the Orlando home of your dreams, Leandro and his team will assist you with the submission and negotiation of the offer.

PREPARATION FOR BUYING AN ORLANDO HOME

Build your ‘Green File’: A green file contains all your important financial documents. You will need it should you decide to obtain financing for your new Orlando home purchase. The typical green file should contain the following financial information:
- Bank Accounts
- Investments
- Credit Card Account Information
- Auto Loans
- Recent Pay Stubs
- Tax Returns for Two Years
Review your Credit Rating: Should you require financing for your Orlando Real Estate purchase, your credit score will have an impact on the type of home you can buy, as well as the price. A premium interest rate may mean a lower interest rate on your mortgage. Review your credit rating with a credit reporting agency such as Equifax, Experian, or TransUnion.
Understand the Numbers: It is important to gain an understanding of how much you can afford, as well as what that number means to your monthly and annual bottom line. For assistance with mortgage calculation, please visit our website.

Orlando Buyer Preparation

Take an in-depth look at the Orlando housing market.

CHOOSING A LICENSED REAL ESTATE BROKER

Buying an Orlando Home For Sale: It is to your benefit to have a professional expert in your corner when embarking on such a large purchase. Leandro and his team of Orlando real estate experts can seamlessly guide you through the process, and we can also provide you with access to Orlando Property Listings prior to the listing being released to the general market.
Choosing an Orlando Real Estate Agent:
Here are a few important factors to consider when choosing your real estate agent:
- Look for a full-time agent who has experience completing transactions similar to yours.
- Does the agent specialize in the Orlando area you are interested in?
- Ask how much time the agent will have to assist you.
- Ask about their credentials and education: A good agent will continually strive to improve and gain current knowledge of the latest real estate trends.
- Ask for a list of homes the agent has sold and/or a list of references.
- Choose an agent who listens attentively to your needs and concerns.
- Choose an agent with whom you feel comfortable communicating.

SHOPPING FOR AN ORLANDO HOME FOR SALE

Once you have completed your preparations, it is now time to find the Central Florida home of your dreams.

Take a Drive: Get to know the Orlando communities you are interested in. Drive around and get a feel for what it would be like to live in each of the areas. This step will assist you with gaining a better knowledge of the surrounding offerings such as Orlando Area Schools and Educational Information, parks, Central Florida Theme Parks, entertainment opportunities, local commerce, and hospitals.

Narrow your Search: Select a few homes that interest you and have your real estate agent request appointments to visit them. Discuss the potential re-sale value of the Orlando home you are considering with your agent.

Orlando Home Shopping

ESCROW, INSPECTIONS, & APPRAISAL

Title Company and Escrow Holder: Leandro and his Team will assist you with selecting a title company which acts as a neutral third party holding all instruments, including the funds and the deed. The title company will research the complete recorded history of the property, to ensure that the title is free and clear of encumbrances by the date of closing and that all new encumbrances are properly added to the title. Some properties are subject to restrictions which limit various activities from building to parking restrictions. There may be recorded easements and encroachments, where others have limited rights to use your property.
How to Hold Title: You may wish to consult with an attorney or tax advisor on the best way to hold title. Different methods of holding title have different legal, estate, and tax implications, especially when selling or upon the death of the title holder.
Central Florida Home Inspections: Once your offer is accepted by the seller, you will need to have professional inspectors evaluate your home’s major systems. Leandro can recommend other inspections, such as roof, chimney/fireplace, property boundary survey, well, septic, pool/spa, arborist, or mold.
Appraisal and Lending: Keep in close communication with your lender, who will let you know when additional documents are needed to approve your loan application and fund your loan. The lender will often send an appraiser out to the property and you may pay a fee for this service. Appraisers are specialists in determining the value of properties, based on a combination of square footage measurements, building costs, and recent sales of comparable properties. When you are within two weeks of closing, double-check with your lender to be sure the loan will go through smoothly and on time.

Orlando Home Inspection

MOVING INTO YOUR ORLANDO HOME

The most challenging part is behind you, but there are a few more steps before you can move into your new Orlando home.

Final Inspection: A few days before you take over the property, there will be one final walk-through inspection to make sure everything is in order.
Utilities and Services: You will have to change the utilities and services of the house over to your name. Please visit our helpful Orlando Area Resources page for a list of all local utility companies.
Closing Escrow: When your transaction is nearly completed, the title company will provide you with a “closing statement” that details all of the financial details of your home purchase. Your real estate agent will go over this with you to ensure its accuracy. At the last step in the buying process, the title company will have you sign the final documents, including loan documents (“deeds of trust”). When everything is complete, the title company will record the transaction for you at the County Assessor’s Office, and you will become the official new owner of a beautiful Central Florida home.

Congratulations! You are now the proud owner of amazing Central Florida Real Estate!

School Zone for Wyndham Lakes

Leandro Gularte — Tue, 21 May 2024 21:00:06 +0000

Wyndham Lakes Estates in Orange County, Florida, is served by several public schools within the Orange County Public Schools (OCPS) district. Here’s an overview of the primary schools zoned for this area:

Elementary Schools

Wyndham Lakes Elementary School
- Located within the community itself, this school serves the younger students of Wyndham Lakes Estates, providing a convenient and accessible option for families in the area.
South Creek Middle School
- This school serves the middle school-aged children in the Wyndham Lakes Estates zone, offering a range of academic and extracurricular programs designed to prepare students for high school.
Cypress Creek High School
- For high school education, students in Wyndham Lakes Estates are zoned to attend Cypress Creek High School. This school offers a comprehensive curriculum, including Advanced Placement (AP) courses, career and technical education programs, and various sports and arts opportunities.

Additional Information

OCPS regularly updates its zoning maps and may conduct rezoning to accommodate changes in student population and new developments. Parents and guardians can use the OCPS “Find My School” tool to confirm current school zones based on their specific address (Home) (Home) (Home).

For more detailed information on each school, including performance metrics and specific programs offered, the Florida Department of Education provides resources and mapping tools that allow users to search for schools and compare them based on various criteria (Edudata).

This setup ensures that residents of Wyndham Lakes Estates have access to quality education within a reasonable distance from their homes, supporting a strong foundation for student development and success.

Why Whyndham Lakes?

Leandro Gularte — Tue, 21 May 2024 20:44:06 +0000

Exceptional Amenities

Residents of Wyndham Lakes Estates enjoy an array of world-class amenities that enhance daily living:

Clubhouse: A central hub for social gatherings and community events, featuring comfortable lounges and meeting spaces.
Resort-Style Pool: Relax and unwind by the sparkling pool, complete with lounge chairs and shaded areas.
Fitness Center: Stay active with state-of-the-art exercise equipment and group fitness classes.
Tennis and Basketball Courts: Perfect for sports enthusiasts of all ages.
Walking Trails: Scenic paths meander through the community, ideal for morning jogs or evening strolls.
Playgrounds: Safe, fun areas for children to play and explore.

Prime Location

Wyndham Lakes Estates is strategically located, offering residents easy access to Orlando’s finest attractions, including:

Orlando International Airport: Just a short drive away, perfect for frequent travelers.
World-Famous Theme Parks: Experience the magic of Walt Disney World, Universal Studios, and SeaWorld, all within a convenient distance.
Top-Rated Schools: The community is served by excellent public and private schools, ensuring quality education for families.
Shopping and Dining: Enjoy a variety of shopping centers, boutiques, and dining options that cater to all tastes.

Community Spirit

Living in Wyndham Lakes Estates means becoming part of a welcoming and vibrant community. Regular events, holiday celebrations, and neighborhood gatherings foster a strong sense of belonging and camaraderie among residents.

Real Estate Opportunities

Whether you’re looking for a spacious family home or a cozy townhouse, Wyndham Lakes Estates offers diverse real estate opportunities to suit your needs. Our properties feature contemporary designs, energy-efficient appliances, and thoughtful layouts that maximize comfort and style.

Discover Wyndham Lakes Estates

Experience the perfect blend of tranquility and excitement at Wyndham Lakes Estates. Discover your dream home in this exceptional Orlando community where luxury meets convenience.

Visit us today and see why Wyndham Lakes Estates is the ideal place to call home.