What to Expect: Buyers Edition

I am a little overdue for a new blog post, so today I am devoting some of my time to write a post that will hopefully be very helpful to some of you! :) As I sat at my desk this morning I tried to brainstorm something that would be helpful to those of you who read my blog. 'What to Expect' is what came to mind. Until I got into Real Estate, I honestly would have had no idea the first thing about buying or selling a house, and I'm sure there are many of you who feel the same way. So Today I am going to focus on What to Expect when Buying a house-- my next post I will focus on What to Expect when Selling a house :) 

#1 What to Expect With Expenses:

When buying a home, there are 3 primary "up front" expenses you will want to save for--

• Earnest Money
• A home inspection
• Your appraisal

At the time you write an offer you will be writing a check for Earnest Money-- which is a deposit made to a seller showing your good faith in a transaction. Earnest Money can be any amount you choose, but $500 is a good amount to estimate on.
** Earnest money is credited back to you at closing. :)

A home inspection is also an expense you will want to have set aside. Home inspections are optional, however most people choose to have them. Most home inspectors require for inspections to be paid at the time of the inspection, they vary in price but a good estimate to set aside is about $300. 

The third "up front cost" is the cost of your appraisal. This can sometimes be paid at closing however plan on setting aside $300-$400.

Some additional expenses that are paid at closing are your down-payment if your loan requires one (there are zero down loans available in most areas if you do not have the funds for a down-payment) & closing costs associated with getting your loan (if you do not have the funds for closing costs we can negotiate that in with your offer asking them to be paid).

#2: What to Expect for the timeline:

 Last year I did a post on the home buying process. To see the steps in the process, click HERE.

Typically, once you get an accepted offer on a home, you can expect to close on it within 30-45 days. :) If you are hoping to get into a new home by Spring, now would be a good time to start house hunting. 

#3 What to Expect with Negotiating:

This year we have seen a shift in the housing market. Inventory is LOW. With less houses on the market, houses are in higher demand, meaning that sellers are getting closer to their asking price. Negotiating isn't going to be as easy as it has been in years past. You may even find yourself competing against another buyer for the same house, make sure to offer your best and talk to your Realtor about making your offer as strong as possible :)

Hopefully this post answered some questions you have been wondering about. As always, if you have any additional questions, never hesitate to call, text, or email! :)

260.609.8348
staciebellam@orizonrealestate.com

January Recap :)

It’s amazing to me that January is almost over, it has absolutely flown by! January is usually my least favorite month. Christmas is over, it’s cold, and there’s usually not a lot of excitement going on. With that being said—this January has kept me quite busy and been SO enjoyable :) A day in the life of a Realtor isn’t always exactly what house hunters & HGTV depict, but this month sometimes it felt like it ;)

January kicked off with New Years of course. I had a great night with my man and with my family playing games and eating snacks.

The next morning I had my first closing of 2015! (Yay!) 

It felt really good to start the year off on a good note. I listed this house in October, and got an offer on it within a week—on my birthday to be exact. It was a little sad to see this house close—the second I looked at it I fell in love with it—so much so that I contemplated snatching it up myself. ;) (Me falling in love with every other house I walk into is starting to become a trend)

About a week later on January 9^th Orizon had their annual awards banquet. It was a fun night--  I got to dress up with my man, eat yummy food, and I got a plaque recognizing selling 2 million dollars in Real Estate. I really am blessed to work for such a wonderful company, Orizon is such a great place to work! 
 

The next morning I listed an adorable house in Westgate. I showed it a couple times during that week & after a week on the market, I wrote an offer on it. 

BUT, the offer was contingent on this beauty selling.

So I listed this adorable home last Monday and got an offer on it the next night. --- it's blowing me away how quick houses are selling for this time of year!
(By the way, this house was also on my list of houses that I wanted to snatch up myself). ;)

To top off my recap….I'll finish with two closings I had last Friday.

John & Kathy Jordan are 2 of the sweetest clients I’ve had the privilege of working with. Some people are just such a blessing to you-- and these two were so wonderful to work with.

I started working with them back in November. I showed them a gorgeous home that they had been eyeing. After looking at it once they fell in love with it (And so did I—it was beautiful!). In order for them to purchase it however, we needed to get theirs sold. So we listed their home and waited patiently and trusted the Lord. After a couple months filled with showings, inspections, appraisals, and everything in between, we closed on both properties.

Here is the home they sold :)

 And here is the home they purchased, absolutely gorgeous. 

My month was also filled with many other great moments aside from my job-- and i'm so so thankful! :)

I hope everyone's 2015 is off to a great start!