Palm Beach Relocation Guide

SPR-SUM 2016

The Palm Beach Relocation Guide is Palm Beach County's most respected relocation publication and is a MUST for anyone considering visiting, moving to, living in, or just wants to learn more about the Palm Beaches.

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Page 126 of 203

P A L M B E A C H R E L O C A T I O N G U I D E . C O M 125 Finding and buying a home is an exciting experience—but it can also be challenging. We've compiled some information to help Palm Beach County newcomers overcome some of the hurdles encountered in the home-buying process—and point you in the right direction for additional information. BUYING A NEW HOME MORTGAGES + FINANCES Before you even begin your home search, keep in mind that there are laws to protect you from scams, unnecessary expenses and discrimination in the process of buying a new home. The Fair Housing Act makes it illegal to discriminate in the sale, rental and financing of dwellings, and in other hous- ing-related transactions based on race, color, national origin, religion, sex, handicap (disability) or familial status (including chil- dren under the age of 18 living with parents or legal custodians, pregnant women and people securing custody of children under the age of 18). The Real Estate Settlement Procedures Act (RESPA) makes it illegal for anyone to pay or receive a fee, kickback or anything of value because they agree to refer settle- ment service business to a particular person or organization. Your mortgage lender is forbidden from paying your real estate broker $250 for referring you to the lender, for example. Save yourself trouble by taking the time to figure out the mortgage you can afford and then get pre-approved. Keep in mind that

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