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HELP FOR FIRST TIME CARROLL COUNTY REAL ESTATE BUYERS
We won't fool you. Buying real estate is
a complicated transaction. We want to make your tour and home buying adventure
a pleasant and rewarding one and to help, we like for our Carroll County
home buyers to have an idea about the process. You'll know what to expect
and will have fewer surprises. Save the list below and let it be your
guide to buying real estate in Carroll County. Any time you have a question,
just ask your HOMEFINDERS.COM agent.
Fact: About Two Thirds
of homes sold in Carroll County are located in Westminster.
1. FIND OUT HOW MUCH HOME YOU CAN BUY.
If you are already pre-qualified with a good lender, wonderful. If not,
we need to determine your credit status and price range before we start
looking at homes. You don't have to meet with a lender before visiting homes
offered for sale, but it's a good idea to go over any credit questions you
might have early on. We can tell by your income and existing debt, just
what you can qualify to buy, but if there are credit issues, that must be
addressed by a lender. Real estate loans require pretty good credit to get
the best loan rates. Any existing arrears on credit accounts will have to
be paid up and aged at least 6 months. If you've had a bankruptcy in the
past two years, you'll have to wait until your bankruptcy discharge is at
two years in the past. Some lenders are more liberal about past bankruptcies
than others. HOMEFINDERS.COM
will know what to do.
USE THE HOMEFINDERS.COM CALCULATOR TO FIND OUT YOUR
APPROXIMATE BORROWING POWER
Fact: There are approximately
200 single family, two story, detached homes for sale in Carroll County
on any day.
2. YOUR FIRST HOME TOUR.
This is really exciting. We know your price range. We know they area in
which you wish to buy. Now, we can visit homes with an eye towards how
you believe you would feel living in them. Where would your furniture
go? How far is the commute? What is the condition of the interior and
exterior of the home? Is the decorating acceptable or would you have to
completely redo? Has the kitchen been updated in an older home? Does the
home "flow"? How does this home compare with similarly priced
homes in the area? These are all questions you can address on your home
tour. You may have to visit several homes before you find the right one.
Carroll County real estate is not a densely populated real estate market.
Generally, there will be only a few homes for sale in your price range.
So, when our HOMEFINDERS.COM agent takes you on a
tour, be very careful to pay attention to price, quality, condition, location
and that will be a guide to the "market" for that area. We have
to adhere to your qualified price range, but we can always expand the
search area and home style or size.
Fact: There are approximately 20 active listings
for town homes for sale in Carroll County any day.
3. YOU FOUND A HOME YOU WANT TO BUY.
The Carroll County market moves fast. In order to be competitive in this
hot real estate market, we will have to be prepared with a lender's credit
approval letter. At this stage, you don't need loan approval, just a letter
from the lender that states that the lender has reviewed your credit report,
income and funds to close and you are able to buy a home at this price
range. We can help you get prepared with the lender's credit letter. Lenders
are great folks, they lend huge amount of money. We work with only local
experienced loan officers who respond to our telephone calls, pages and
e-mail promptly. In addition to good rates, our main demand of loan officers
is service.
We'll prepare your written offer for the home, present
it, and then the fun begins. The seller may (1) accept your offer, (2)
reject your offer, or (3) counter-offer. Hopefully, with our assistance,
you will be making an offer that will result in a ratified contract and
we can proceed. If you and the seller are just too far apart in price/terms/conditions,
we may move on to another home. The Carroll County real estate market
is dynamic and moves quickly. In order to compete, everything must be
done correctly before presentment of your offer. Work with us and you'll
have that home soon.
Fact: There are usually less than
six condominium homes for sale in Carroll County on any day.
4. HURRAY !!! WE HAVE A CONTRACT,
WHAT'S NEXT?
You have an opportunity to inspect a home. Home inspectors not only look
for defects, they also teach you how the house operates and generally
how to maintain your home. Other inspections, on a house-by-house basis,
may include radon, termite, lead, and more depending on location and age
of the home. Once the inspections are done and you and the seller agree
on any repairs needed, you can relax and know that we are almost finished.
Fact: There are approximately
50 homes for sale in Carroll County any day that are: single family detached,
two story, 4 bedroom, 2 full bath, 2 car garage homes. Median number of
days on the market for these homes is 13 days.
5. TIME TO MAKE A LOAN APPLICATION.
If you have not already done so, now that you have an accepted contract,
you'll have to make formal loan application immediately. We'll be glad
to introduce you to proven local lenders. You will sit down with the selected
lender, we'll be there if your lender is local, make a written loan application,
detail your income and debt, become familiar with the different types
of loans and what they will cost over the years. You will need certain
documents to verify your income and debt and the lender will then proceed
to get your loan fully approved. Don't worry, we'll answer any questions
you may have.
Fact: The highest average priced homes SOLD
in Carroll County are sold in Sykesville.
6. GOING TO SETTLEMENT ON YOUR CARROLL COUNTY HOME.
Your loan is approved. The settlement company has examined the sellers
title and it is ready to be transferred to you. A day or so before settlement,
you'll need to get a Cashiers Check for your settlement. We'll do a "walk-through
inspection a day or so before settlement to make sure everything is as
it should be and all repairs, if any, have been made. Buyers, sellers
and agents will all meet at the Title Company's office and "settle".
Everything is detailed on a Settlement Statement called a HUD-1 and the
title attorney will explain it to you line by line. The seller is paid
for their home and you get the keys to your newly purchased home. See
how easy that was??
CONGRATULATIONS ! !
YOU ARE A CARROLL COUNTY HOME OWNER.
GLAD WE COULD HELP.
OUR GIFT TO YOU !! A ONE YEAR HOME
WARRANTY, FREE TO YOU.
In order to make your first year of homeownership easier, HOMEFINDERS.COM
will place a ONE YEAR HOME WARRANTY on your
newly purchased resale home at no cost to you. Occassionally a seller
will offer this protection since it is also available to seller and would
cover a home buyer for the first year. But, it is rare, about one home
in One Hundred home sellers offer a home warranty. Carroll County will
be offered with a HOME WARRANTY. So, we provide
this important protection to our buyers. The cost of the Warranty is $310
to HOMEFINDERS.COM. The cost of service calls
to the home owners is $100. The cost of a replacement heat pump is approximately
$3,000.
** Foreclosure and "as is" sales not covered.
What Is The Home Warranty?
The home warranty is a service contract, like an insurance policy, lasting
one year and renewable by you, which provides repair or replacement of
major mechanical systems, electrical, plumbing and appliance failures
during normal wear and tear.
What Systems Are Covered?
Generally, the basic coverage provides repair or replacement of the home
heating, plumbing, electrical systems, water heater, range, wall oven,
cook top, dishwasher, garbage disposal. For additional costs (we pay),
well pumps, filters, and pool equipment.
Is An Inspection By the Warranty Company Required?
No, at settlement, the application provides that all systems are in good
working order. This is factual since we will have just completed the home
inspection and any repairs will have been made. Since the real estate
in Carroll County you are buying is in good working order, we can state
that to the warranty company when we order the coverage for you.
When Does Coverage Begin?
When the company receives the application and payment. Application and
payment is made by the settlement attorney's office and mailed to the
warranty company that day. Coverage is generally received within 72 hours
of settlement and is effective to the date of settlement for one year.
How Do I Make A Claim?
You will be provided with a 24 hour toll free number at settlement. You
MUST call the warranty company for repair. If
you call a recommended or local mechanic, the warranty will not pay them.
The warranty company has a proven list of mechanics who make repairs for
them. You MUST go through their office for the
warranty to work.
Real Estate Carroll County
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