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Gulf Shores and Orange Beach Home Buyers FAQ's

Answering Your Gulf Shores and Orange Beach Home Buying Questions

Buying a Gulf Shores and Orange Beach home is both thrilling and a bit unnerving, especially if you're a first-time home buyer. Both experienced home buyers and first-time buyers alike will benefit from the frequently asked questions below. Before you begin your Gulf Shores and Orange Beach home search, it is recommended that you prepare yourself for the journey by educating yourself. This will ensure you are a knowledgeable home buyer prepared to make a confident home buying decision.

Q: Is my condominium covered by the association insurance policy?

A: It is very common for an association to provide common area insurance, which includes protection against liability issues following fire, weather, etc. damage. Under Alabama law, condos built after 1991 must require their associations to carry “all-inclusive” coverage. In which care a catastrophic event were to occur, the responsibility to rebuild the property as a newly constructed condo would fall on the association. With that being said, we do suggest you consult a local insurance agent for specific information regarding your property.

Q: What do other condominium property owners have an effect on me? How does this association come to be?

A: The association of property owners’ consists of owners’ of units inside the property that have been elected by their fellow owners’. The jobs of these board members are to make decisions about building operations and management on the property. Once decisions about said building operations and management are made, the cost is covered by the monthly dues.

Q: What do the monthly dues include? 

A: Monthly dues can cover anything from cable, telephone, garbage, sewer, water, to common area insurance and maintenance. Overall the monthly dues are to be used for the basics of all units and to keep the property maintenance up and looking nice.

Q: What is the difference between a statutory deed and a general deed?

A: Statutory warranty deeds state that the seller is warranting that they have caused no title exceptions during the period that they held title only. A warranty deed defends the title totally.

Q - I've never purchased a home before.  Where should I begin?

A - Actually, you've already started the process. Fact-finding and reading articles is a great way to become a smart consumer. The highest priorities to focus on before you begin searching for specific areas, neighborhoods, or homes would be to:

  • Familiarize yourself with your personal finances.
  • Learn about the Gulf Shores and Orange Beach real estate market.
  • Carefully review your budget and begin to eliminate as much debt as possible.
  • Have a down payment and earnest money ready when the time comes to act and make your offer.

Your next step is to contact us. As your home buying specialists, we'll protect your interest and manage the details of the real estate transaction on your behalf to your complete satisfaction.  For more experienced buyers, a little brush up on the real estate process wouldn't be a bad idea. Of course, you'll need a really sharp Gulf Shores and Orange Beach real estate team to protect your interests too!

Q - With all the bad news about mortgage products and home foreclosures, how do I avoid making a big mistake when deciding which type of loan to select?

A - Once we meet and review your finances along with your home buying needs, you should select a lending consultant. We can recommend several trusted lending professionals or you can choose your own. Having upmost confidence in your lender is important. Be sure you feel completely at ease with them.  They should speak to you in easy to understand terms.  Ask lots of questions and never sign any document until you know what you are signing and feel completely at ease signing it. More and more lending professionals are recommending fixed interest rate loans and interest rates are still very attractive. Of course, the type of loan best for you depends on several factors. Here are just a few:

  • How much money do you have for a down payment?
  • How long do you plan to live in the home?
  • Do you qualify for a FHA or VA loan?

Because more homes are on the market here in Gulf Shores and Orange Beach, your choices are plentiful and the time is right for you to buy!

Let's Get Started!

Are you ready to schedule your home buying consultation?  If so, contact us today and together we will review your needs and your budget to help you find the right Gulf Shores and Orange Beach home for you!