https://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpg 0 0 Valerie Ostrom https://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpg Valerie Ostrom2021-12-30 12:06:542022-01-11 11:11:09Getting you to the closing table on time!
Nowadays, just getting an accepted offer can be a challenge. There are things you can do once you decide it is time look:
- Have your financing ducks in a row. I can help you with that, but days are gone where you can find a house first and then figure out your finances later. During this time, you can secure me as your agent and start having conversations on what you would like to see in a home. Make sure you are being e realistic – just because it would be nice to find a retirement home for $100,000 doesn’t make it so. I will say this: Once in a while you might just find that deal. 7 years ago, when the market tanked, I did buy my current villa in On Top of the World for $38,000. It needed a lot of work, did not have a dishwasher, had pink walls, yellow appliances, popcorn ceilings and green carpet. What an eyesore! In today’s market, my villa is worth around $165 maybe a little more. I still have lots of work to do on it!
- With the financing and realtor in check it is time to house hunt. I will set you up on the MLS to receive a specific list of homes currently available and any new listings that might pop up with your criteria. Not seeing enough homes might mean we need to adjust the criteria to be more realistic or to capture more. It is a process. Once you are on the MLS with me, you can go in and heart, discard or make notes on properties. Take notes so we can discuss your questions. What are your hobbies, what is important to you?
- You see a home you love, great! It is time to write the offer. As your agent, I am looking at this home in the background – looking for clues, such as age of roof, HVAC and evidence of any other permits. We will discuss the bones of the home and you decide what to offer. Strong “Ernest Money Deposits” are always encouraged. It shows strength. In the Ocala area, we deal in a lot of cash sales right now. We still have value here compared to many other places in the country. Having cash doesn’t mean you can get a deal – it just means you are more favorable in the eyes of a Seller (being a Seller’s Market). Having financing isn’t always bad, but I find it is best to use a good local lender who understands our market.
- Once the offer has been submitted, we wait. It will be agonizing for some Buyer(s) and I wish I could make this part easier. Just this week, I had one for $10,000 over asking denied, and a full price offer accepted. It just depends on what ‘the other guy’ has on the table. Unfortunately, we don’t or won’t know what that is.
- If our offer has been denied, we move on. If it is accepted, then our timeclock starts. It is important to get everything to the lender and when they ask for it! Closings can often take longer than 30 days – so it is important to stay on task. A conventional loan can often be done in 30 days (barely) and it takes longer on an FHA or VA. As to a reason, I believe the lenders are overwhelmed. There are so many people wanting to live in the Sunshine State!
- Inspection time! It is important to get a good inspector and within the allotted time on the contract. I always recommend doing this. The report will be back in our hands by same or next day and we will discuss it. Get your movers secured and utilities ready to move over. Don’t forget your internet! We will be in touch a lot during this time.
- Your lender and I will stay in contact. We work together to make sure everything behind the scenes is being addressed and before you know it, it is time to close and to say CONGRATULATIONS!!!