Speedy Home Buying: I wanna buy a house. Now What? Part 2

Continued from yesterday’s Part I: Another great proven method is to help remove the burden of Inspection Items from the seller.  This puts you in control and gets you to the closing table on time.  Some of our buyers have seen the big inconvenience (and time consumption) correcting repairs can bring to a transaction and at that point, we move forward with an “as-is” purchase.  This benefits both the buyer and seller:  the seller can give a credit at the closing table leaving him/her with the ability to concentrate on just getting moved and the buyer has greater control over the repairs to ensure it is up to their standards.  It’s a win-win for both sides.  However, keep in mind you want to get those inspections conducted just as soon as the ink dries but prior to removing any contingencies.  Receiving repair cost estimates early will give you control in case the repairs present a financial burden to you, in either backing out of the contract or renegotiating it with the seller.  Even though you want a quick sale, please, please don’t skip the inspection.  What could propel you forward to a quick closing could be just the thing that holds you back at a later time and then become a financial burden if those inspection items are biggies such as structural problems, roof issues, water intrusion, mold, etc.  Okay, now the closing date is approaching and the excitement has hit a fever pitch.  You’re excited and have a hard time focusing on just about any other task at hand.  STOP RIGHT THERE!  You’re not in the home yet and there’s still a few things left to do like, get some money honey!  Typically, a few days prior to closing, your closing agent will provide you with a closing statement for review.  After you’ve approved it, you’ll need to go to your bank and get a cashier’s check for the final amount and that includes your last deposit, if required per your contract.  You can’t write a personal check at the closing table so ensure that you have it “in hand” hopefully a day or two prior to closing.  If your monies are coming from an account that is not immediately liquid, be diligent about moving it from one account to the other a week prior to the closing so that your funds are available to you when you need it.  Few things are more frustrating that having the money to close but not being able to access it.  Last, but certainly not least, keep in mind that no matter how diligent and prepared you are, at the last minute issues arise.   There are some things that are out of your control, and your agents.  You may not be able to get clear title to transfer the property or other issues may arise that would prevent you from closing on your home.  A backup plan is a must in life and certainly when purchasing real estate.  This is why I always press my buyers to have a list of their top three homes before we go into placing an offer.  A well prepared buyer will always be a happy buyer.  Have fun and please, when you need assistance in purchasing or selling real estate in Naples FL, contact Ruth Bethem at Ruth@RuthBethem.com or direct at 239-777-7007 or toll free 877-777-7545

Speedy Home Buying: I wanna buy a house. Now What? Part 1

Like anything in life, toiling over whether to purchase real estate in Naples, FL is no different and the decision making process is the hardest part.  Nail-biting, nervous stomach, sleepless nights, drinking too much wine (is that a problem?) eating too much ice cream (again, a problem?) but the reward is when you’ve made the decision.  Now, you’ve gotten beyond all that stuff and it’s time to move forward.  You’ve decided to be Mr/Mrs  “Happy” Homeowner.  Now what?  Here’s a few easy steps to follow to help make the process easy and hopefully seamless, with the help of the Ruth Bethem Real Estate Group.  First, get on the internet, go to www.RuthBethem.com where we have all the communities at your fingertips and start perusing.  It’s Get Acquainted Time with Naples.  Next, and this is a must, get Pre-Approved through a qualified lender.  So many buyers put the cart before the horse, previewing homes before they know how much they can afford, then become disappointed when they find their dream home only to realize they can’t afford it.  Nothing sadder than that.  Next, make a list of wants vs. needs.  Be flexible.  If your list becomes long, streamline it on a priority level.  The least amount of “must” items will give you a larger spectrum of properties to chose from.  This next step is crucial on the success of your purchase:  find a qualified  Realtor® that has the experience and is well-connected with service personnel that can help facilitate a smooth transaction.  I’m also an Accredited Buyer’s Agent (ABR) which is an added benefit to you, the buyer, because I have a track record of proven results from the initial consultation, through negotiations to beyond the closing table.  It leaves our buyer’s with a memorable and positive experience. Check out our client testimonials at http://www.ruthbethem.com/testimonial.htm Onto the next step:  Have your agent find motivated sellers, those whose homes are aggressively priced and have been on the market a while.  Don’t avoid vacant homes as those properties are screaming “buy me and move in quick!”  One important step to consider, and actually, it’s not really a step but is nonetheless just as important to those buyers seeking a quick sale:  Run, don’t walk, away from Short Sales.  This will not be in your best interest as it is a time consuming process and one that has no conception of what deadlines are.  Short Sales may be the flavor of the day, but for a quick sale, chose another flavor.  Next Step:  Auctions.  This is not a typical forum for purchasing real estate in Naples but could be one to consider.  It’s a pretty simple process but keep in mind “financing-in-place” is the motto you must repeat to yourself over and over because you can not get out of the purchase if your lender doesn’t come through for you and you can’t void the contract if you don’t like what the home inspection revealed.  Those are the pitfalls.  However, as I said it’s a relatively simplified process.  You find the property, take a tour prior to auction date, then show up and bid.  Some auction houses allow you to do your bidding online.  If you win the bid, you can close in 30 days.  This process in Naples historically seemed to be an unknown in years past, but, in the last five years it’s picked up steam and many properties now have been sold via auctions.  Again, consult with your buyer’s agent and let us do the work of finding them for you.  Check in tomorrow for Part II of this series.

For further information or any questions on Naples real estate please contact Ruth Bethem at Ruth@RuthBethem.com or direct at 239-777-7007 or toll free 877-777-7545.