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The Buying Process
 
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Background:
Buying a home or property can be complicated. It’s a process and understanding that process can help reduce the anxiety. A Real Estate Agent can work with you to understand the process, manage your expectations, and professionally assist in all aspects.

The Process:
The following are the steps or phases of the Buying Process.

Identify your Needs
First, sit down with pen and paper and really think what you are looking for. Are you looking for a log home on a large piece of land? Are you looking for “a little place” on the water? Or, maybe you are interested in a town home with ski in / ski out access to the slopes? The first step in the process is to determine what you are really interested in and therefore, what you aren’t interested in.

Identify a Real Estate Agent
Now that you know what you are looking for, it’s time to identify a Real Estate Agent. You need an Agent, a full-time, dedicated professional to assist and guide you through the process. You need a Realtor that is licensed, abides by the National Association of Realtors Code of Ethics, knows the area, and has knowledge of the buying and selling process. I am all of these things. I am passionate about Real Estate and look forward to working with you!

Online Search
Please utilize the search located on the Home page. This is a proprietary search that you won’t find elsewhere. This detailed search criteria will allow you to search for homes or property targeting your specific needs.

Make an Offer
At some point, you will identify the “perfect” home or property. I will gather and present all the information I can about the home or property you have chosen. All of this information comes together to determine the price you are willing to offer.

All parties, both the Buyer and the Seller, need to agree on the price. This is where negotiating skills come into play. I am an expert negotiator. I will work with you to understand every piece of information that affects the price. I will prepare contract addendums and other contract-related forms.

When you do make an offer, my advice is to “make it as clean as possible.” This phrase means that the offer should be simple and easy for the Seller to accept.

Making a clean offer may include the following:
1. Have a financing pre-qualification or pre-approval letter ready and attached to the offer.
It means that you qualify for a specific amount already. Pre-qualifying eliminates questions. Ultimately, being pre-qualified means that you can move forward quicker.
2. When considering offer contingencies, try to make wording precise and easy to understand.
Very likely, price is not the Seller’s only consideration. Each contingency creates something for the Seller to do or accomplish. Sometimes the Seller will accept a lower offer if they are required to do less work.
3. Don’t get discouraged if the Seller does not accept (or counters) your offer.
I negotiate purchase contracts for a living and am here for advice. Feel free to ask questions. Many deals can be salvaged with level headed thought processing and good negotiating skills.

If your offer is rejected, don’t worry. I will guide you through the process again, this time culminating in a purchase of the perfect home or property for you.

Home Inspections
When considering making an offer on a home or property, home inspections must be taken into account. There are numerous types of inspections: structural and mechanical, chimney, radon, water quality, water flow, mold, termite and pest, and/or environmental inspections. Using an unbiased, outside, third-party inspection service is highly recommended.

As your Real Estate Agent, I can make recommendations to you with respect to which inspections that you should have in order to protect you and your family and the future value of your new home.

The inspection results in a document containing information about the property. The inspector may recommend new windows, for example. Or, the report might identify mold and suggest mold removal.

In any event, the Buyer has to determine whether to continue forward with the purchase. The continuance of an offer may require that the Seller fix the items in the report. Or, that the Seller accept a lower price given that work must be performed.

Moving Forward to Settlement
When your offer is accepted by the Seller, I will work with you to contact insurance companies, title companies (sometimes referred to as closing attorneys), the electric company, cable TV and internet companies, fuel and/or propane companies, local telephone companies and local banks / lenders. As a Deep Creek Lake local, I have first-hand knowledge of the providers of these services.

Prior to closing you will need to provide proof of Homeowners Insurance and have all utilities transferred into your name. I can provide the meter number from the home to help set up the electric account.

The Day of the Settlement:
You should walk through your home on the day of settlement. You want to ensure that the home is in the same state as it was at the time of contract.

After the walk through inspection, if satisfied, you will proceed to the closing table. The closing may be by mail (if you do not have time to come to Deep Creek), at a local attorney’s office, the Railey Realty office, or even at your home. If the mortgage that you obtain does not cover the full amount of money you owe for the purchase you will need to bring a cashier’s check or certified funds made payable to the title company to the closing. You will be notified of this amount when the settlement sheet is reviewed several days prior to closing.

After all documents have been signed by both parties and all of the necessary funds are collected by the title company, you will receive your keys and you are ready to start enjoying your new home or property at Deep Creek Lake.

This process can be overwhelming and stressful, but knowing that you have an experienced, dedicated Real Estate Professional looking out for your best interests should save you time, ensure the legalities are taken care of, set expections, and ultimately, put you at ease.

Congratulations!

 


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ABOUT
 
Deep Creek Lake Background: Jon Bell, has been selling real estate in the Deep Creek Lake area of Garrett County, MD for years. A full-time Real Estate Professional associated with Railey Realty, Jon has been ranked the # 1 Realtor for the past three years. Totaling $20 +/- million in sales each year, Jon is dedicated and focused. Jon came to Deep Creek Lake from Baltimore because he enjoys water skiing, wake boarding, and snowboarding. Jon understands why other people come to Deep Creek Lake. It's a fantastic area with so much to do, add white water rafting, mountain biking, and antiquing are just a few activities to add to the list! Philosophy: Jon enjoys giving people a chance to enjoy the most pristine mountain setting in western Maryland and some of the most majestic properties anywhere. Jon and his family build relationships. He looks at every transaction as an opportunity to meet new people and make new friends. Jon's philosophy is simple: “When I sell a property, I'm also meeting a new neighbor.”
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