😁How to Make Buying a Home a Less Stressful Experience

From saving a down payment to applying for a mortgage to competing with other home buyers, buying a home can turn you into a ball of stress without you even knowing. Since buying a home involves a series of small steps that eventually lead to homeownership, it can be very stressful and challenging.

The good news, however, is that you can make the process go much more smoothly if you understand each step and prepare for the process before you jump into the boat. Before we talk about beating the stress of buying a new Charlottesville VA home, let’s talk about the hardest parts of buying a home so you can prepare yourself for them.

Golf Course Homes for Sale in Charlottesville

Saving for the down payment

Most homebuyers cite this as the single biggest obstacle to owning a home in the U.S. The savings rate in the country is so dismal that majority of Americans find it hard to save enough to make a down payment on their dream home.

While saving money is not easy especially if we are talking about thousands of dollars, it is possible. To prepare for this part, set up a budget that includes a regular line item for your expected down payment, and give yourself as many months or years as you believe it will take. By the time you’ve saved enough, you are finally ready to purchase your dream home.

Finding a buyer for your current home

While this only applies to homebuyers who are living in their current homes, this is also one of the hardest parts of buying a new home. This is primarily because it requires you to be involved in two real estate transactions at the same time. Imagine how hard it already is to purchase a home, and then adding a second—and sometimes an even tougher—transaction into the mix.

Another reason why this is can be very challenging is that most of the time, even a strong market is not enough to sell a home. Many prospective buyers do not always qualify for financing and as a home seller, you will encounter one or more false starts on offers before you get your home sold.

There is also the challenge of having one of these two transactions dependent on another. More often than not, the sale of a previous home is required for the mortgage of a new home. If there is any detail on the sale of your current home that looks a bit odd or uncertain, then that will most likely cause your home buying transaction to fail.

If you want to overcome this obstacle, come up with an effective strategy that will help you sell your current home first before you buy a new one. While that may not be easy, that will increase the chances of your home buying process turning out successful.

Improving your credit

Even though the conditions in the housing market continue to improve, mortgage lenders are still cautious about borrower credit. If you are planning to buy a home and want to make sure that you are able to participate in the widest number of mortgage programs, then the first thing you need to do is to get your credit score up to at least the 700 level.

If you have recently had an impaired credit, improving your credit may be a challenge. This also rings true if you are carrying too much debt.

To prepare for this part of the home buying process, take time to give your credit a boost. Bring it where it needs to be so you can easily apply for a mortgage when it’s time to buy a home. You may want to get a free copy of your credit report as soon as now so you can take a look at the negative information it may reveal. As soon as you see it, take the necessary action.

Choosing the right home in the right neighborhood

This is also one of the biggest challenges when buying a home. Often, prospective homebuyers find the home of their dreams in a neighborhood that goes beyond their price range. Most of the time, what they do is compromise.

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If you do not want to compromise, then find a home that suits your needs and taste and is located in the right neighborhood at the same time. For instance, having school-aged children may push you to sacrifice finding a dream home in favor of moving into an area where there are good schools. On the other hand, having no children at all may push you to prioritize the house more than the neighborhood.

Preventing yourself from overbuying

In every real estate transaction, emotion always has a way of taking over you when you begin your search for your dream home. As a homebuyer, you have the tendency to fall in love with the property and end up paying too much for it in the process.

You may also tend to buy a house just because you like the way the furniture is arranged in it, even when it is not really the type of home that you need. Once you develop an emotional attachment to a home, it’s a short walk to paying more for that home than it’s actually worth. To keep that from happening, make sure that your emotions are always at bay when purchasing the right home for you and your family.

Before you begin your shopping decide on the amount of house you can afford and stick to that. Make sure that you also make decisions based on available facts, not because of your emotions.

Purchasing a home is just plain stressful.

Buying a home is a complicated process that involves strong emotion. In fact, experts agree that moving to a new home is among the top three most stressful events in life- next to death and divorce.

Whether it’s your first time or not, some aspects of buying a home are simply beyond your control.

However, there are some things that can help make your experience less stressful. In this article, I’ve included three of the best ways in which you can beat the stress of buying a new Charlottesville VA home and enjoy the experience.

Home for Sale in Charlottesville VA

1. Get your finances in order

Before you even think about hitting open houses, the first thing you need to do is to get your finances in order. A few months before you start your home search, order your free credit report from the three big credit bureaus at annualcreditreport.com.

Examine your credit report carefully because lenders will use them to determine whether they’ll lend to you and at what rate. If you see any mistakes, have it corrected as soon as possible. You’ll need a score of a least 620 to get a mortgage while the best rates require a score of 740 or higher.

With a financial investment this big, the earlier you start getting your financial ducks in a row, the better.

2. Understand the home buying process

In the home buying process, knowledge is power. Don’t be afraid to ask questions until you understand. It’s essential that you keep yourself informed on the different steps involved in purchasing a home in Charlottesville VA. Doing so will help you manage your expectations.

There’s’ always a measure of anxiety when buying a new home. That’s perfectly normal, but you must not forget that it is also supposed to an exciting time. To make it a less stressful experience you have to prepare. Take time to educate yourself and do some legwork.

Having an experienced and reliable real estate agent can also be an invaluable resource for you at a time like this. Your agent will keep you in the loop and let you know what’s happening at all time.

3. Partner with Pam Dent

Any real estate agent can help you browse home listings and set up showings for you. However, you will benefit more from working with an experienced real estate professional who has built connections and know-how over the years.

That would be me. I’ve been through the house buying process with many clients many times and I will help you through this one. As your agent, I will point out the pros and cons of homes, making sure you have noticed any red flags and generally making the home buying a positive, successful experience for you. I am familiar with the tools of the trade—from online listing sites to all the paperwork it takes to simply make an offer on a home.

Call me, Pam Dent, at 434-960-0161. My ultimate goal is to make your home buying experience as easy and stress-free as possible. With me on your side, you can take a step back and enjoy the process responsibly.

🏠What to Consider When Creating a Home Wish List

What does your future home look like?

Before you start searching for your new home, you need to have an idea of what it’s going to look like. House hunting can be a time-consuming process so it’s important to have a picture of what you desire and what your budget allows. Knowing your priorities will save you endless time and frustration as you take a look at the homes for sale in Charlottesville VA.

Creating a home buying wish list can help organize your thoughts. A wish list can also help you narrow down your options.

So how do you create a wish list?

You need to start by identifying your needs and wants. Needs are features that are must-haves, while wants refer to the home features that make a home special but you can live without. Be sure to make a realistic wish list.

Consider the following questions:

1. Features

Do you want historic properties or newer ones?
What particular home style do you prefer?
How many bedrooms do you need?
How many bathrooms do you need?
Do you prefer updated bathrooms?
What type of living and dining areas do you prefer? Traditional? Formal layout? Contemporary plan?
How many stories do you want in a home?
How much space do you need?
How high should the ceilings be?
What kind of kitchen do you prefer?
Do you prefer a garage or a carport?
Do you need a basement and/or an attic?

2. Amenities

Do you need a home office?
Do you want a home with a play or exercise room?
What kind of security system do you prefer?
Do you need a workshop or a studio?
Do you need a home with an in-law suite?
Do you want a fireplace?
Do you want a hot tub?
Do you want a pool?
Do you prefer a home with a deck or porch?
Do you want a laundry room?

3. Location

Remember that your choice of location will affect the home’s current and future value. It will also have an impact on your lifestyle.

It’s also good to keep in mind that you can always add amenities, but you can never change a bad location.

Do you want urban? Suburban? Or rural?
Which school district do you prefer?
Is the neighborhood close to the airport?
Is the neighborhood close to restaurants and retails?
Does the neighborhood have easy access to major highways and thoroughfares?
Are there nearby healthcare facilities?
Are there nearby parks and recreation areas?

4. Length of time you plan to live in the home

When looking for a home, you should also consider your future needs, around 7 to 10 years from now. If your requirements might change within that period, be sure the home you’re going to choose will still be able to accommodate your needs.

Are you ready to look for your home in Charlottesville VA?

Call me, Pam Dent, at 434-960-0161. I am committed to helping you find the home that suits you best. I make it a goal to provide excellent service to all my clients. With my help, your home purchase process will be seamless!

👎What Are the Risks of Buying a Charlottesville VA Home without an Agent

Buying a home is a big deal.

It may be the most significant transaction you ever deal with. If you’ve been thinking of purchasing a home, chances are you have asked yourself whether you need a real estate agent or not.

Most people would not consider going through the home buying process without a real estate professional. In fact, in any given year, only a small fraction of the home buying sales are transactions completed without the services of a real estate agent.

Trying to buy a Charlottesville VA home without an agent can carry risks and lead to costly mistakes. Here are some disadvantages and risks of buying a home by yourself.

1. Limited knowledge of the neighborhood

Without an agent, you will not have a neighborhood specialist to help you with your decisions.

When buying a home, knowing how to pick the right neighborhood is crucial. The neighborhood you choose will have an impact on the quality of life and resale value of your home.

One of the biggest advantages of working with a Charlottesville real estate agent like me is my knowledge of the neighborhoods in the area you are buying. I can provide you with information regarding school districts, property taxes, HOA rules, commutes, property values, and more.

2. Inspection problems

Without the guidance of a real estate agent, you’ll be on your own to determine the types of inspections that should be done. If you miss the necessary inspection, you may wind up with a home with real issues.

A home inspection is an examination of the overall condition of the home. It is important to conduct one to avoid costly mistakes by purchasing a home that is in need of major repairs. However, a home inspection report can be difficult to understand. It will contain every potential problem and may include 20-50 points of concern.

As the top real estate agent in Charlottesville VA, I can help you understand which inspection reports are necessary and which ones are unreasonable. I look at these reports all the time, so I know how to pick out the important stuff.

3. Negotiation and paperwork

Without an agent, you’ have to do your own negotiation. Negotiating a home purchase is quite challenging. Sellers want the highest price and buyers want the best possible deal.

As a qualified and experienced real estate agent, I can help you negotiate the tricky process of buying a home. I negotiate for my clients and I know every factor that influences home values, and every pressure point that is likely to deliver a response.

In addition, real estate law is complex. You also need to complete all necessary paperwork correctly and accurately, submitting them by deadlines.

Having an agent helps you understand what you need to sign. The odds of making mistakes can drop substantially when you’re working with someone who knows the paperwork inside and out.

The Benefits of Hiring a Professional Agent

With so much information readily available online, many homebuyers think that hiring a real estate agent is no longer essential. Homebuyers, including you, may wonder if you can actually buy a home through the Internet or marketing your property yourself through different advertising channels without representation.

While some homebuyers do fine on their own, like I said, it’s risky. Here are the reasons why you need to consider hiring a professional real estate agent when buying a home in Charlottesville VA.

We are experienced

If you are buying a home and you do not know a thing about home buying, you are taking a huge risk. But if you hire a real estate professional, you do not need to know everything about buying and selling real estate.

Once, Henry Ford said that when you hire people who are smarter than you are, you are only proving that you are actually smarter than they are. For a successful home purchase, the trick is always to find the right person to help you with the transaction process. For the most part, they all cost roughly the same, so what’s wrong with hiring someone who is more educated and experienced in real estate than you are?

Buying a home takes time, especially if you do not have a representation. Since you are looking for more precious time your life, hiring a pro gives you that time.

We offer buffering help

Through the help of a real estate agent, you can tak the spam out of your property showings and visits. Especially if you are buying a new home, your agent will help keep the agents of builders at bay and prevent them from taking advantage of you and your lack of experience.

On the other hand, if you are a seller, your real estate agent will help filter all the phone calls that lead to nowhere to make sure that only serious buyers who are ready to write offers immediately can reach you.

We are knowledgeable about your neighborhood

Real estate agents like us usually possess intimate knowledge when it comes to the neighborhood. You can depend on us to know where to find the industry buzz about your area and identify comparable sales and hand these facts to you.

If you are not yet familiar with your target neighborhood, you can expect us to point you in the direction where you can find more data on schools, crime or demographics. For instance, if you are interested to buy a home down the street, your agent may know if it had upgrades and can give you an estimate of its value.

We can give you price guidance

Contrary to popular belief, real estate agents like us do not choose prices for our clients. However, we help guide our clients to make the right choices for themselves. Your agent will devise a negotiation strategy that will work best for you.

We will tell you the current conditions of the market

If you choose me as your agent, you can count on me to disclose the true conditions of the market to you so it can help you govern your buying or selling process. There are several factors that usually determine the success of a home sale of purchase, and most of these factors have to do with the market.

Data such as the average per square foot cost of similar homes, median and average sales prices, average days on market and ratios of list-to-sold prices are the most common market factors that have the hugest bearing on what homebuyers or sellers like you ultimately decide to do.

We have a network of professionals

As a real estate agent, I network with other professionals in the industry. Many of these professionals provide the services that you will need throughout your home buying or selling transaction. While some agents hesitate to recommend an individual or company due to legal liability, I know which vendors have a reputation for efficiency, competency, and competitive pricing and I will not hesitate recommending them to you.

I can also give you a list of references with whom I have previously worked, as well as give you some background information to help you make the right choice.

We are expert negotiators

As top producing agents, we are able to negotiate well because we are able to remove ourselves from the emotional aspects of the transaction. Not to mention the fact that we have good negotiation skills. Unlike buyers and sellers, we make decisions not based on emotions but on actual factors.

If you hire me as your agent, expect me to be more than just a messenger who delivers your offer to the seller and vice versa. As a professional, I am trained to present your case in the best light and agree to hold your information confidential from competing interests.

We can handle volumes of paperwork

When you buy a home, you will find that purchase agreements usually run at least 10 pages, excluding the federal and state-mandated disclosures and non-disclosures dictated by local custom. If you hire an agent, you will not have to deal with all those paperwork and run the risk of losing some important documents and landing in court.

We will answer questions after closing

There are instances when even the smoothest transactions that close without complications come back to haunt the buyer. It’s possible that after closing, taxing authorities will come knocking on your door to collect property tax assessments, doc stamps or transfer tax. Especially if you are a new homebuyer, you may not be able to deal with these things.

One major benefit of having a professional agent is that you have someone to call to straighten out such confusions and complications. Several questions may pop up after closing, so it’s good to have an agent on stand-by to assist you. Remember that worthy and honest agents do not leave you right away.

We can develop relationships for future business

Most of the time, the basis for an agent’s success and sustained career in the business is referrals. Only a few agents survive if their livelihood solely depends on consistently drumming up a new business. This fact keeps us more motivated to make our clients happy and keep them satisfied.

Qualities to Look for In Your Real Estate Agent

There are many different players in the residential real estate industry, but the workhorses of every real estate transaction are the people who coordinate the process—the real estate agents.

By nature, a real estate agent is similar to a conductor of symphony who coordinates the different players for a successful transaction. She becomes a salesperson, a buyer’s advocate, an analyst, a business manager, a negotiator, and a marketer.

Here are the qualities and traits to look for in a successful real estate professional:

She’s a problem solver

Find someone who enjoys coming up with creative solutions to problems. A house for sale may not have the features that attract buyers, but if a real estate agent knows how to properly showcase a property to make it more marketable, she can attract the right buyers.

She is self-motivated

A successful real estate professional has a desire to control her own professional destiny and be her own boss. Only successful real estate agents have such a high degree of self-motivation and drive.

She is honest

Find an agent who considers her professional reputation as crucial in her real estate career. You will know that she applies only the best practices and high ethical standards in her profession is if she’s a member of the National Association of REALTORS. Agents who are members of this association pledge to a strict Code of Ethics and Standards of Practice.

She is tenacious

Top-producing agents do not only have a great work ethic but also the tenacity to pursue every lead. They have the hustle to market your properties to achieve success and they work smart in doing whatever is necessary to close a deal.

She’s interested in houses

A true real estate agent is passionate about houses and architecture. If you are looking for an agent, find someone who can give you that advantage. The best thing about having an agent who has interest in houses is that you know she really cares about the industry and she can give you the advice that you need as you go along the home buying or selling process.

She has an engaging personality

Remember that a good real estate agent does not only sell properties—they sell themselves. Find someone who has a great attitude, is personable and honest, and has confidence in her abilities to help you.

She has attention to detail

The ability to pay close attention to detail is crucial to become a successful agent. Hence, look for someone who is attentive to your needs and is organized enough to follow up with leads, communicate well with you and is willing to go the extra mile to attend to your needs.

She understands the local housing market

Make sure that your agent also utilizes the nuances that make your housing community’s housing market and pricing strategy unique. She must also be able to identify and develop a niche in your local market.

She has connections

You know a real estate agent is experienced enough to assist you if she has a vast network of contacts within the market she serves. These connections include other real estate agents, potential buyers and sellers, appraisers, home inspectors, and mortgage loan officers.

She is knowledgeable

Your agent must also be up-to-date with the latest topics in real estate and in the local market, so she can service you more effectively. You may also choose someone who considers continuing education and professional development as doors to opportunity which she can utilize to stay at the forefront of the industry.

Let me help you find your dream home in Charlottesville VA!

Call me, Pam Dent, at 434-960-0161. With my extensive knowledge of the Charlottesville area and the real estate market, I can help you find the best home that suits your lifestyle! Let’s get started today!

👍How to Make Your Home Offer Irresistible to Sellers

Your bid needs to stand out when you’re competing with a lot of other buyers.

In markets with houses in short supply, sellers have the advantage over buyers. This often results in bidding wars among buyers vying for the best properties.

You may need more than just money in order to buy the Charlottesville VA home that you want. You must give sellers enough reasons to pick your offer over offers from other bidders. Your purchase offer should persuade sellers that you are a serious buyer who will give them most of what they want.

Here are some ways to make your home offer stand out:

1. Cash Is King

If you can buy a Charlottesville VA home with a full-cash offer, you will have an advantage over other offers with mortgage requirements.

Sellers love all-cash offers since they’re less likely to fall through before the sale closes. This is because there aren’t any issues involving mortgages, the escrow closes faster, and there is no appraisal requirement.

2. Get pre-approved

If you can’t pay cash, you’ll need to get a mortgage.

Check your credit reports three or four months before you start looking for homes for sale in Charlottesville VA. That will give you enough time to correct any errors and take steps to improve your credit score. You can get your reports once a year free from the three major credit bureaus at www.annualcreditreport.com.

Don’t bother submitting an offer on a house without a loan pre-approval in hand. A pre-approval letter from your mortgage broker or bank confirms that you can borrow enough money necessary to finance the home. It shows a seller that you’re not only qualified but also prepared and serious about purchasing their home.

3. Get the sellers to like you

To improve your chances of winning the bid, let the seller know why you want to live in the property they once called their home.

The old-fashioned letter is still one of the most useful tools for buyers these days. This will help you connect with the sellers, especially if you haven’t met them.

If the sellers love the home, they are more inclined to give it to someone they have more in common with. It’s the human factor. If you are not sure what to write to the seller, just let them know how important the house is to you, how special it is, and how you plan to take good care of it.

4. Give the gift of time

Be willing to work with the seller’s timetable to go to closing. Generally, closing takes place within 30, 45, 60, or 90 days.

You can customize the length of the closing in order to meet the seller’s need. This strategy has been proven effective many times. If the sellers want to remain in the home for a while after closing, offer them a “lease back” or “rent back”. This is legal arrangement and you will become their temporary landlord. If you are bidding on a short sale, let the sellers know that you are patient and can wait for the bank’s decision.

Making an offer on a home may seem daunting, but it doesn’t have to be. As your agent, I can help you craft a strong offer. I will not only guide you, but also go the extra mile for you!

Call me, Pam Dent, at 434-960-0161. I can help you find the best home that suits your needs. Let’s get started!

An Insider’s Guide to Buying A Charlottesville Country Property

Are you considering buying a “main home” or a “second home”?

Buying country property is a dream for many people.

With the constantly increasing cost of homes in the city or suburbs, moving to the countryside is ideal. Just imagine having a big house on a vast parcel of land where you can enjoy fresh air every day, raise pets, grow a garden, and your kids can play and run freely.

If you are not fully committed to living in the countryside just yet, having a country retreat as your vacation home is also a wonderful arrangement. Many people buy rural properties as their second home, though some of them actually don’t have a first home yet.

Your vacation home is a great place to spend the weekend, the summers, the holidays, and for when you just want to get away and leave all the stress behind.

Come and experience the unique charm of Charlottesville!

Charlottesville in VA is one of the best places to buy a country home. If you haven’t fully decided, watch this video and you’ll see why.

(Click this link if you can’t watch the video : https://www.youtube.com/watch?v=pZ0mLZE1doQ)

Downtown Charlottesville is fun, vibrant and dynamic. It is a great shopping district with a lot of restaurants and boutiques to choose from. It is a city but it has a small-town feel, which is why many people love it.

If you love being outdoors, Charlottesville is perfect. Depending on the season, you can go hiking, kayaking, horseback riding, skiing, snow-tubing and more. You’ll never run out of activities here.

How to buy a country property in Charlottesville

When it’s time to buy an acreage in the countryside, you might feel overwhelmed by all the choices and decisions you’ll have to make. Let me help you make it easier.

Here’s a step-by-step process to help you take it one day at a time.

Step 1. Conduct preliminary research.

As soon as you decide to buy a property, start visiting websites that offer estates, farms and ranches in Charlottesville’s countryside.

Your goal is to see what real estate you like, and have an idea of the price range. Take note of specific listings that catch your interest, and see how they are positioned in the market. Also, note if those properties experienced any price changes.

This is also the time to determine how you intend to use the land and if your favorites will have the necessary features. When you decide to buy a country property in Charlottesville, you already have a general idea of why you want it and what you want to do with it.

Step 2. Know how much you can afford.

Knowing your budget easily streamlines the country homes available to you. The expression, “Don’t bite off more than you can chew” fits this situation.

The first question you want to ask yourself when it comes to your purchase ability is, “How will I pay for this property?”

Will it be a cash purchase? Or will you opt for bank financing?

When you have substantial savings, you may want to make it a cash purchase. This will allow more room for negotiation, and it makes the whole buying process easier.

Step 3. Get Prequalified and Preapproved.

Knowing your possible budget range based from your own computations, and knowing how much you actually qualify for are two different things.

Before you buy the country property that you’ve been checking online every night, you first need to know how much you can actually spend, and the best way to find out is to be pre-qualified.

Getting a pre qualification allows you to know what loan program is best suited for you. It also gives you an idea of how much you can borrow. Securing a pre qualification will prove beneficial in the other steps of the buying process, like in budget preparation.

Once you know how much you can secure for the financing, get pre-approved.

A pre-qualification is helpful, but a pre-approval is more valuable because it tells the seller that a lender has checked your credit, verified your papers and has approved a loan amount for a particular time period.

Getting a pre-approval has many advantages:

1. It makes the home selection process easy for your agent. When agents know the price range you have been approved for, it is easier for your agent to know which properties to show you.

This is a better solution that your agent showing you properties way over your price range. You could fall in love with a country farm you cannot afford. After that, the lower price point properties just don’t have the same appeal to you.

Don’t set yourself up for disappointment.

2. Sellers are more likely to take your offer seriously when you have been pre-approved.

3. It lessens stress knowing you have already been approved by the lender. It gives you assurance that the buying process will be smoother.

Step 4. Hire the right real estate agent.

There are real estate agents, and there’s the right real estate agent.

When you are looking for a home in Charlottesville’s lovely countryside, you need someone who is not just a residential real estate agent. You want someone who specializes in selling country properties, farms, and ranches, and that would be me, Pam Dent.

My knowledge of the area, of the ranches, of Charlottesville’s land itself came many years before I was even actively involved in real estate. I grew up exploring the countryside on the back of a horse.

I raised my kids in Charlottesville’s countryside. I know what you need to look for when purchasing land, being a long time owner myself.

My skills as a real estate agent allow me to guide you through the home buying process, aid you during the negotiation, provide assistance for all the paperwork, and share with you information about anything you’d like to know as a countryside home owner in Charlottesville.

With my skills, experience and professionalism, our home buying process will be less challenging and stressful.

Step 5. Find the acreage you like and make an offer.

This is the most exciting part! This is the part you usually see on TV, the part where buyers visit different properties, checking out the features and amenities, seeing if the farms offer what they need.

This is also a really difficult part. This is what the decision of where you’ll be living and what type of real estate you’ll be buying heavily relies on. This is the part you have to get right because it will affect your future drastically.

Start by looking at the homes in your price range. Bring your “Needs and Wants” list and take note which farms or ranches fit your list.

Since this step is crucial, let me share with you my top considerations if you are buying a country home. Carefully read the different factors you must make note of. Knowing these considerations can make a huge difference in the selection process.

Top considerations for buying a country property

Location. When you are buying a city or suburban real estate property, you want a home that’s in a safe neighborhood, close to school and other amenities, easy commute to work, etc. The same things factor in when you are looking for a Charlottesville country home.

Here are a few questions you should be asking yourself :

How close (or far) do you want to be to shopping, hospitals, and many other amenities?

Should there be a water feature close to the property?

Is there access to electricity, water, cable and other utilities? There will usually be electricity but country farms will have well and septic. There will rarely be cable but often dsl is available.

What’s the road condition?

Do you want a place y that’s easily accessible from the main road, or one that’s miles off from the main road?

What’s the productivity of the soil type in the area?

Also, know why the home is being sold. Learn its history. Drive around the area of the acreage you are considering to purchase and see what the neighbors are like.

Get a feel of the area and decide if you can live in that setting. Visit more than once, on different times of the day, to see if your first impression of the farm still holds, and if you still like it.

Type of country property. Think of your definition of country living and know the type of property you intend to purchase. For some buyers, country living means a home with country views, easy access to water, electricity and other utilities, and neighbors a couple of minutes away. For others it means being surrounded by extensive land, with its own wells, a reserve power generator, and where the nearest neighbors are a 10 to 15 minute drive away.

What will you do with the land? Do you plan to raise livestock? Are you going to use it as a horse farm or as an agricultural land? Will you hunt? Or do you just want a get away?

Property size. The size of farm you will purchase depends on what you are going to use it for. It also depends on your purchasing power.

If you plan to use the property as a vacation home, how many acres do you need to secure privacy and retreat? If you’re going to start a Charlottesville horse farm, how many acres is a good start-up size? If you intend to use it for outdoor and recreational activities like hunting, how many acres would be sufficient?

Zoning and property restrictions. Zoning rules vary on different types of property. Generally, farms with 20 acres or more are agricultural lands, which allows all types of animals and livestock. If you intend to hunt in your land, you need sufficient acreage in a rural location, and it should neighbor with lands that also have large acreage, but remember that you will only be able to hunt on neighboring properties with permission.

Find out building codes, zoning and restrictions. Can you build a chicken coop on the property? How about a ranch? How about a pond?

Check with the seller and the municipality for any existing easements in the area.

Know if the property is part of a conservation area or under conservation easement.

Neighbors. You may think that being out in the vast countryside, you’ll have little chance to see your neighbors so it doesn’t really matter what kind you have.

However, you have to remember that neighbors are a great help especially if you have questions about how to develop the acreage. They have extensive knowledge of the land and the weather. They know what to do during emergencies.

Significant research goes into finding the right property.

Take your time in deciding which Central Virginia real estate to buy.

Once you’ve chosen “the one”, work with your real estate agent and negotiate an offer based on the comparables in the area.

In your offer, include any contingencies, like home inspections, well and septic tests, building and safety code requirement for the house, etc. You have to be specific in writing any requests and repairs to be included in the sale.

Determine the amount of “earnest money” you’ll be putting in.

When both parties are in agreement regarding the terms, you can then put your name on the Purchase and Sale Agreement form.

Step 6. Get a home inspection and a land survey

You have to know what you’re buying.

A home inspection is conducted so you’ll know everything that’s going on in the property, from the condition of the house, to the plumbing, the structural strength, and of course, the deal breakers. You may also want to have an environmental study (think home inspection for the land).

A land survey will tell you the exactly where the property line is. You’ll know where your farm begins and ends through this survey.

These surveys and inspections should be clearly stated as contingencies when you make an offer.

Step 7. Secure your loan.

This is the part where you choose the lender. Before you decide, shop around for mortgages with the lowest interest rates and best programs.

Choose the mortgage where you’ll be financially comfortable. Be aware that many mortgage companies do not lend on farms and land. Your Realtor will be able to give you a list of lenders who can assist you with this type of property.

Step 8. Get a property appraisal.

Your lender will want to ensure it is paying the right market value of the Charlottesville acreage.

A professional appraiser will be hired to check the farm’s value.

Step 9. Prepare the necessary paperwork and finalize the deal.

Once the terms are set, and the property is appraised, you can use the result for renegotiating the terms if needed. Your agent will negotiate on your behalf.

To verify if the seller is the rightful owner of the home, your attorney or closing company will use the service of a title company to take care of all the paperwork.

Step 10. Close the deal.

This is the easiest yet costliest part of the buying process. Review everything prior to the closing, going over the fine details, ensuring everything is to your liking before handing over the payment to the seller.

Congratulations! You’ve now reached the end of your country home buying journey. The final step is to move in to your new home.

Call me, Pam Dent, at 434-960-0161. I am your golf and equestrian property specialist here in Charlottesville. I am also a Seniors Real Estate Specialist, as well as being experienced in working with first time buyers. I have lived here in Central Virginia almost all my life and have a deep love for the countryside and its preservation. My long involvement with equestrian activities, along with my professionalism and in-depth knowledge of the area makes me uniquely suited to take care of all your real estate needs. You, my client, are my first priority, and I am dedicated to ensuring that your real estate experience goes smoothly.

I look forward to hearing from you.

✅Why a Pre-Approval Is Crucial When Buying a Charlottesville VA Home

Are you getting ready to buy a new home?

One of the most important steps in the home buying process is obtaining financing. As a buyer, you have to know for certain which type of mortgage best suits your needs. In order to determine that, you need to get pre-approved for a mortgage.

Many buyers don’t understand why getting a pre-approval is important. The truth is, if you don’t get a loan pre-approval before you start looking for Charlottesville homes for sale, you might actually prevent yourself from finding—and buying – your dream home.

Pre-qualification Vs. Pre-approval

There are some people who think that a pre-approval and a pre-qualification are one and the same. There is actually a world of difference. You need to understand the difference between being pre-qualified and pre-approved.

A pre-qualification is the initial step and the entire process is informal. To prequalify for a mortgage, you have to meet with a lender and provide information about your assets, income, and liabilities. The lender will give you a rough estimate of how much money you can borrow based on the information you have given.

A mortgage pre-approval, on the other hand, is when a lender gives their written commitment to a potential borrower. With a pre-approval, the lender checks your credit and verifies your financial and employment information and documentation.

With a pre-approval letter from your lender, real estate agents and sellers know you are a serious buyer. Your pre-approval letter proves that you already have the backing and the ability to go through with the sale, making you a much more attractive buyer to sellers.

Below are several reasons you will be glad you obtained a pre-approval for a mortgage before looking for homes for sale in Charlottesville VA:

1. It pinpoints a price range

With a mortgage pre-approval, you will learn how large a loan you would qualify for based on your financial history. You don’t have to waste your time looking at properties that are beyond your price range.

It also narrows down the neighborhoods you should consider. When you know your budget, you also know what areas you can afford. This way, you can find your dream home much faster.

2. It results in a higher acceptance rate

Sellers are less willing to accept offers from a buyer without a pre-approval. They don’t like it if they need to wait for a buyer to get approved for a mortgage before a serious offer can be made or accepted.
Sellers appreciate buyers who have been pre-approved because they can start negotiating right away. In addition, they may be more willing to lower the asking price, cover closing costs, or make adjustments to work with a pre-approved buyer.

3. It speeds up the process

If you aren’t pre-approved, you’ll spend more time looking for homes. You may get turned down once you’re ready to make an offer.

With a pre-approval, you have less to worry about. You’ll have fewer major hurdles to overcome.

Let me help you find your dream home!

Call me, Pam Dent, at 434-960-0161. I’m committed to helping you become a successful home buyer in Charlottesville VA!

🏡What to Consider Before Buying a Home in Charlottesville VA

Buying a home has always been built into the American dream.

There are many advantages to having your own home. For one, you get to enjoy greater privacy. Homes also typically increase in value, build equity, and provide a nest egg for the future.

Owning a home can also give you a sense of pride and freedom you will never experience as a renter. When you buy your own Charlottesville VA home, you can maintain it however you want to. You can even adopt a pet if you have always wanted one but haven’t been able to due to your renting situation.

While buying a house can be a terrific investment, it is a decision that should never be taken lightly. It is a big financial decision so it is worth taking the time to consider the following things:

Affordability

Buying a house will have a significant impact on your finances, so how much you earn is a huge factor. Make sure you have the finances to afford the house you want to buy. A stable income is also critical to paying off a mortgage loan and will be a requirement from a lender.

You will find that the real estate market in Charlottesville VA offers an assortment of homes for sale in a variety of price ranges.

In addition, as a homeowner, you will be responsible for paying for all the repairs and utility costs, such as garbage and water. You will also need to pay for taxes and insurance related to your home.

Location

Choosing the right location is also an important consideration to make before buying a home. Think about your lifestyle, your needs, and the amenities that matter most to you.

While the condition and price of a home can be modified, you can never change a home’s location. Make sure to buy in an area that fits your lifestyle.

Other things to keep in mind include:

Safety
Schools available
Shopping
Walkability
Public transit access

So why choose Charlottesville?

Charlottesville is an attractive city nestled in the hills of the Blue Ridge Mountains. The city has received numerous awards including being ranked on the following lists:

Best Cities to Live in America
Best City to Retire
Best City to Retire Early
Best New Places to Drink Wine
Top Ten Places to Raise a Family
Top Ten Healthiest Cities for Women
Best Retirement City for Golfers
Best Small College Town

Wish List

Figure out exactly what you’re looking for in a house. Differentiate between the Must-Haves and the Nice-To-Haves.

Do you want a traditional single-family home? A townhouse? A condo? How many bedrooms and bathrooms will you need? Do you want extra space for a workshop or home office? Do you need a two-car garage?

While you may not find a house with absolutely everything on your wish list, identifying your top priorities is a good place to start.

Future Plans

Your future plans also dictate your priorities when buying a home.

How long do you plan to live in this home?

The general rule regarding the best time to buy a house is when you plan to live in the same area for at least the next five years. Otherwise, you’re probably going to take a hit financially.

Everyone deserves to find their dream home. The good news is you don’t have to go through the home buying process alone.

Call me, Pam Dent, at 434-960-0161. With my extensive knowledge of the Charlottesville area and the real estate market, I can help you find the best property that suits your lifestyle.

🙌What to Expect When Buying a Home in Charlottesville VA

Purchasing a home is a big deal.

The whole process can be even more daunting if you’ve never bought a house before. It’s not as simple as picking out a house, having a seller accept your offer, signing your name on a couple of dotted lines, and getting the keys to the property.

Buying a house can be a lengthy and complicated process that involves a lot of steps. It’s a serious commitment. You have to prepare yourself financially, emotionally, and mentally.

Home ownership can be a smart long-term move, but you want to know what you’re getting into. Here are some things that you should expect when buying a home:

Expect rigorous financial checks

One of the things that you should expect when buying a home in Charlottesville VA is that you will undergo some serious financial checks. In order to decide whether or not to offer you a loan, loan officers will have to take a look at your financial standing.

Knowing your credit score is also important because it determines the rate and conditions you receive on a mortgage loan. If your credit score is high, lenders will see you as a low-risk investment and offer you a low rate on your loan with good conditions.

Expect to make a down payment

You have to be prepared to make a down payment if you’re set on purchasing a Charlottesville home for sale. A down payment is a type of payment made in cash during the onset of the purchase of a home.

Many home buyers pay down payments equal to 10% to 20% of the total value of the home, while the bank or other financial institution covers the remainder of the costs through a mortgage loan.

Expect that you and the seller aren’t the only people involved

When you decide to purchase a home, you’ll come in contact with several individuals, each playing a significant role in your purchase journey. This typically involves the following:

Mortgage Lender
Mortgage Banker
Real Estate Agent
Seller’s Agent
Home Inspector
Appraiser
Home Insurance Agent
Title Company or Settlement Agent/Attorney

Expect that you have to be patient

Being patient is one of the key elements you need to have in order to make sure you are making all the right decisions when buying a home.

Don’t get easily frustrated when you can’t find your dream home in the first few days or weeks. This is part of the process so you have to give it some time. Once you have found the right home, you have to keep in mind that it is yet another part of the process to get to the closing of the purchase of your soon-to-be new home.

Buying a home is an exciting time! Making the smart move of choosing the best real estate agent will ensure that your new home and community will meet your needs.

Let me be of service to you!

With my experience, I can help you find the best house, for the best price, that checks off the majority of the items on your checklist. I will help you navigate all the questions and explain the process, each step of the way.

Call me, Pam Dent at (434) 960-0161. Together, we can find the home that best suits you and your family!

How to Buy a Home in Charlottesville VA

Nearly everyone’s bucket list includes purchasing a dream home. However, many people go through life thinking it can’t be done. Perhaps people feel discouraged because the process of buying a home seems complicated and daunting.

In this article, I will take you through the entire process of buying a home in Charlottesville VA. I will guide you through the process, letting you know everything you should be doing at each point of the process.

How to buy a house?

The city of Charlottesville is centrally located in the eastern foothills of the Blue Ridge Mountains in the Central Virginia region. It was established as a town in 1762 by the Virginia General Assembly and was incorporated as an independent city in 1888.

If you are planning to purchase a home here, you can start by researching early.

You can read websites, newspapers, and magazines that contain real estate listings. Take note of particular homes you are interested in and check how long they stay on the market. See if there are any changes in the asking prices. This kind of information will help you get a sense of the housing trends in Charlottesville VA.

Then, you need to determine how much house you can afford. The rule of the thumb is to aim for a property that costs about two and a half times your gross annual salary. This will help ensure that you will not be taking on a larger mortgage commitment than you can afford.

Once you’ve found a Charlottesville VA home that you really like, learn as much as possible about the property before putting in an offer. Find out how long the house has been on the market. If it has been on the market for several months with no offers, chances are it could be overpriced or it could be a slow market.

You can also look up the sales history of a home to find out how much it was previously purchased for. This will also give you an idea of how long previous owners stayed in the home.

Remember that the neighborhood is just as important as the house.

After all, there’s no point in falling in love with a home in an area you can’t stand.

Research the neighborhood you are interested in. Check out its school quality ratings, as they are often an indicator of the quality of the neighborhood. You also have to take a look at its architectural style, safety, amenities, and your commute.

What do you need in order to buy a house?

Since buying a home is a huge investment, you have to make sure that you are financially prepared. You also need to strengthen your credit score.

A credit score is a statistical number that shows a person’s creditworthiness. The credit score is used by lenders to evaluate the probability of a person repaying his or her debts. It is a three digit number ranging from 300 to 850, with 850 being the highest score that a borrower can get. If you get a high credit score, it means you are a financially trustworthy person. On the other hand, a low credit score may hurt your chances of getting the financing.

To avoid problems, check your credit report from the three major credit reporting companies. By law, you’re entitled to one free report each year. Since errors are common, it is better to check your report first before your lender does. That way, if you find inaccuracies, you can have them corrected before they affect the mortgage lending process.

So how do you strengthen your credit score? One way is by paying down your balance. Thirty percent of your score is based on the amount you owe. However, you also have to consider your credit utilization. This refers to the ratio between how much you owe compared to how much credit you have. So if you have the means, drop your credit card balances.

If you are currently not in a position to pay down your credit card balances, you can still improve your credit utilization by asking for a credit limit increase.

For example, if you’ve maxed out your $2,000 card and get a limit increase to $4,000, you will instantly cut your credit utilization rate in half. Just remember that the goal is not to spend any of your new credit. Otherwise, you will be defeating the purpose of getting a limit increase.

How can you buy a house with bad credit?

Buying a home can be a serious challenge, especially if you have bad credit. We all know that lenders prefer lending money to people who have an unquestionable track record of paying off debts because they want to make sure they will get their cash back, too. Lenders check your credit score to see how well or how bad you’ve handled your financial obligations.

If you have less-than-ideal or poor credit (a score of 650 or below), there are still options that can help you turn your dreams of homeownership into a reality. Although it may not be easy, there are still ways to get it done.

Check your reports

It’s not enough to have a vague sense of how bad your credit score is. You need to know where you and your credit history stand. In fact, you should check your credit report before meeting with a mortgage lender. You’re entitled to a free copy of your report from each of the three major credit bureaus (Equifax, Experian, and the TransUnion) at AnnualCreditReport.com.

Make sure to check if there are any errors because creditors frequently make mistakes when reporting consumer slip-ups. If you find any, contact the institutions that provided the erroneous information and have them update it. This can help increase your credit score.

Save up for a larger down payment

One simple solution you can do is to start saving for a larger down payment. Doing so will send a signal to lenders that you have the ability to handle the loan despite your low credit score. This will also increase your equity in the house up front, which will immediately lower your loan-to-value ratio.

Get an FHA Loan

Another option for prospective home buyers with poor credit score is getting a Federal Housing Administration loan. To qualify, you need a minimum of 580 credit score. Aside from that, FHA loans allow you to make a down payment as low as 3.5%. However, you will have to pay a mortgage insurance premium since the federal government insures these loans.

What are the steps in the home buying process?

Preparing to buy a home can be both exciting and terrifying at the same time. Every state requires slightly different steps to purchase a home. However, they are very similar.

Here are the steps to homeownership in Charlottesville VA:

Determine what you can afford.

Before you start house hunting, work out how much you can afford to spend on buying a house and the monthly mortgage.

Get pre-approved for a mortgage

Getting pre-approved for a mortgage will let you know exactly how much money you have to spend. That way, you don’t waste time looking at houses you can’t afford to buy.

Create a home wish list

You can create a list of wants and needs to help narrow down your choices for your new home. However, be flexible as you likely won’t find a home that has all the features and amenities you want.

Choose your real estate agent

Don’t try to buy a home alone because it’s not as easy as it looks. You will benefit more from the professional assistance of a real estate agent.

Search for Charlottesville VA homes for sale

This is the fun part of the home buying process. Make a short list and begin touring homes. Take note of what you like and don’t like about each home.

Take a look at this video that highlights the reasons why you should choose a home in Charlottesville VA:

Make an offer

Your real estate agent will walk you through the steps required to make an offer on a home in your area. The three basic components of an offer are price, terms, and conditions.

Get final mortgage approval

Once your offer to purchase is accepted, contact your lender or mortgage officer to proceed. Avoid making any major purchase until after the closing as that can affect your mortgage qualification.

Order a home inspection

A home inspection is necessary to check if there are any major repairs that need to be made. A good inspector will give you advice for proper maintenance and upkeep. He will also point out potential or existing conditions that may affect the value of the property.

You may be able to negotiate your contract with the seller if you put an inspection contingency in your contracts.

Attend the closing

You will be on your way to the closing table once all the above steps are done. While every transaction is different, expect that you will be signing a lot of paperwork.

How much do you need to save to buy a house?

To buy a house in Charlottesville VA, you need cash for a down payment and more.

It will involve upfront costs for real estate agents, lawyers, mortgage applications, and home inspections. As you move towards homeownership, you’ll have to deal with costs for closing the sale, moving, starting utilities, and insurance.

You have to start with figuring out how much home you can afford. You have to take several things into consideration such as your current income, expenses, and future goals.

Research the average price of a home in Charlottesville VA and take 20 percent of that number to get your hypothetical down payment. How many months would it take you to save up that amount?

The video below will give you ideas on how to save for a down payment:

The down payment for a home can vary from 3.5% to 20% of the total cost of a property. It will also depend on your credit score, mortgage interest rate, and your current financial situation. Experts usually recommend putting down closer to 20% as it gives you a bigger stake in the home right away.

Aside from the down payment, you also need to comfortably cover five other factors: closing costs, moving expenses, repairs and maintenance, the first few months’ mortgage payments, and your emergency fund.

Closing costs include inspection fees, property taxes and prepaid interest. Typically, homebuyers will pay approximately 2 to 5 percent of the purchase price of their home in closing fees.

You also have to think of the money it will take to get your stuff to your new home. There may also be immediate expenses brought about by upgrades and additional cosmetics and decor. Do you need new furniture? Do you want to decorate as soon as you move in?

You should also evaluate if you can honestly keep up with your mortgage in the first few months after purchase. There are some lenders who require additional cash reserves to prove that you’re able to make payments.

There are also repairs and maintenance issues that you have to take care of. One popular rule of thumb says that one percent of the purchase price of your home should be set aside each year for ongoing maintenance.

Although buying a home is a major financial goal, you should still have a separate emergency fund stocked with three to six months’ worth of living expenses. This fund should cover a financial shortfall if an unexpected expense crops up.

What are the financial requirements for a mortgage?

Mortgage underwriters consider a lot of different information to determine whether you will qualify for a mortgage. Basically, it comes down to four factors: credit, equity, income, and assets.

As I have mentioned in this article, your credit history is how a lender will judge the likelihood you’ll pay back the money you borrowed. Lenders will examine the length of your credit history to check if you have reliably paid off your loan accounts or if you’re maxed out on credit cards or loans.

Your credit score will be used to qualify you for a mortgage and will often determine the interest rate you will be offered.

Another thing that you should look into is equity. Today, equity has become one of the biggest obstacles for many homeowners. Some homeowners end up with much less equity in their homes than they did a few years ago. There are also some who owe more on the mortgage than what the house is worth.

Home equity is an asset that comes from a homeowner’s interest in a home. You can calculate the equity by subtracting any outstanding loan balances from the property’s market value. Your home’s equity can increase over time if the property value increases or the loan balance is paid down.

Your debt-to-income ratio is another factor that lenders look at to measure your ability to manage monthly payment and repay debts. Your debt-to-income ratio (DTI) is calculated by dividing total recurring monthly debt by gross monthly income, and it is expressed as a percentage.

Typically, lenders prefer individuals who spend less than 50% of their gross monthly on fixed expenses, which includes your mortgage payment, property taxes, association dues, homeowners insurance, car loans, student loans, and credit cards. Expenses like utilities, phone, and cable are not included in your DTI.

If your debt-to-income ratio is too high, consider paying down high-interest credit cards to get below the required limits.

How do I get preapproved for a mortgage?

Getting pre-approved for a mortgage loan will help you get the Charlottesville home you want.

Here is a video that briefly explains how you can get pre-approved for a mortgage:

While touring homes may be pleasant and exciting, a serious buyer should start the process in a lender’s office and by obtaining a mortgage pre-approval.

A mortgage pre-approval is basically an evaluation that determines whether you qualify for a loan.

Most sellers expect potential buyers to have a pre-approval. In fact, some sellers only negotiate with buyers who have proof that they can obtain financing.

Once you are ready to make a purchase offer, your real estate agent and the seller will want to see a pre-approval letter. Sellers prefer a pre-approved buyer because it shows that you can be taken seriously as you’ll likely be able to make the purchase.

Getting pre-approved is actually quite simple. Start by checking your credit reports and credit scores to determine what kinds of loans you may qualify for.

Your mortgage specialist will discuss your financial strategy and needs, mortgage amount, down payment, and purchase price. Upon giving your consent, your mortgage specialist will take an application. You will also have to give the lender permission to obtain a credit bureau report.

You also need to provide your lender with the required documentation, which includes the following:

Income Information

You have to provide your loan representative with pay stubs, tax returns and W-2s from the previous two years, and documents to show other sources of income. Other sources of income may include a second job, overtime, commissions and bonuses, interest and dividend income, Social Security payments, VA and retirement benefits, alimony or child support.

Asset Information

Aside from your income, you also need to show your lender information about assets you have. This can include bank account statements as well as information about investments you have.

Personal Information

You also need to show a form of ID (whether a driver’s license or passport) and will need to provide your Social Security number (for a credit check).

The lender will give you a pre-approval letter, which states your loan will be approved once you make a purchase offer on a home, and submit the following documents: the purchase contract, preliminary title information, appraisal, and your income and asset documentation.

Your pre-approval is subject to your continued good credit and is usually good for 60, 90 or 120 days depending on the lender.

How long does it take to buy a house after making an offer?

Once you’ve finally found the perfect home, you and your real estate agent should put together an offer. You can even include an offer letter to show you’re really committed.

What can you expect next once your agent submits your offer?

One of three things can happen- you offer is accepted, your offer is rejected, or the seller counters your offer.

If your offer is flat-out rejected the best things to do is to move on. Put the home behind you as there’s likely too large a gap between you and the seller on what you think the home is worth. If your offer is countered, you can accept it, reject it, or make a counter offer in return. You can agree to the counter terms or counter back by modifying your terms slightly.

If your offer is accepted, then you have to prepare to make sure you can close your transaction without any unnecessary delays. Having a good REALTOR® will help you avoid issues that might jeopardize your home purchase.

Once accepted, you will have to start your financing. You should also schedule for a home inspection and satisfy all contingencies in your contract to move forward to your closing.

Cash transactions can close in 15 days, while financed transactions might take 30 to 45 days.

Here are four things that you should accomplish in order to get to the closing table:

Get your financing in order

It’s time to move forward with your lender on the amount of money you need to purchase the house. Your mortgage broker will help you in accomplishing the necessary paperwork that most lenders require. As part of the process, your lender will also require an appraisal by a licensed appraiser and will usually inform you when that needs to happen.

Get a home inspection

Although it isn’t required by most lenders, having the house examined by a licensed property inspector is a good idea. Depending on what the inspector turns up, you might ask the seller to make some fixes or ask for a concession. If there are serious defects, there could be grounds for nullifying the purchase agreement.

Secure homeowners insurance

Before approving your loan, most lenders will require you to sign up for homeowners insurance. Shop around and negotiate. If you want to save money, you can bundle your homeowners insurance with any other kind of insurance you have.

Move toward the closing

The property must have a clear title for a clean exchange of ownership. Consult with a real estate attorney who can explain the title report to you. Your lawyer will also make sure everything is in order with the closing documents.

Do a final walk-through of the home with your real estate agent. Make sure nothing has been damaged and that all changes specified in the contract were completed.

How do you close on a house?

The closing is the home stretch of the home buying process. Also known as settlement or escrow, it is the day when all parties will sign the papers to officially seal the deal. Ownership of the property will be then transferred to you.

Before the final step of your real estate transaction, make sure to review your closing disclosure form. This will help ensure that you understand the terms of your loan.

Do a final walk-through a day before closing to make sure the home is in the condition agreed upon in the contract. If you had a home inspection done earlier, make sure any issues that the sellers agreed to fix have been repaired.

What to bring to closing:

All paperwork

On closing day, bring your proof of homeowners insurance, a copy of your contract with the seller, your home inspection reports, anything the bank required to approve your loan, and a government-issued photo ID.

You also need to bring all the paperwork you have received throughout the process. This includes the loan estimate, the contract, the proof of title search, and insurance, mortgage insurance, home appraisal, and closing disclosure. During closing, you might need to refer these documents.

The down payment

Your disclosure form will tell you exactly how much you have to prepare for a down payment and closing costs. Before closing, ask whether you should wire transfer the funds or of you will need to bring a cashier’s check. You should also bring your personal checkbook in case any unforeseen expenses come up.

What should you expect at closing?

There will be many people present at a closing. They include the home seller, the seller’s real estate agent as well as your own, buyer and seller attorneys, and a representative from a title company. Sometimes, a representative from the bank or lender where you got your loan also makes an appearance.

A title clearance is also needed before you can own a home. Most lenders will require a title search of public property record to make sure there aren’t any issues with transferring the property into your name.

You will also be signing your name a lot as there will probably be at least 100 pages of paperwork. The legal documents fall into two categories- the agreement between you and your lender regarding the terms and conditions of the mortgage and the agreement between you and the seller transferring ownership of the property.

Although there are a lot of intimidating legal documents to sign at a closing, do take time to read and don’t be afraid to ask for clarification if there’s anything you don’t understand. Remember that the fine print will have a major impact on your finances and your life for years to come.

During closing you will receive the following documents:

Closing Disclosure

This document contains the details of the mortgage loan, including the loan terms, estimated monthly payments, and closing costs. The lender is required to give the Closing Disclosure to you at least at three business days before you close on the loan. This is to give you time to compare the Loan Estimate with the Closing Disclosure.

Mortgage Note

This document contains your promise to repay the mortgage. It also includes the amount and terms of the loan. The mortgage note will also state what the lender can do if you fail to make payments. ‘

Mortgage or deed of trust

This is the document that pledges the property as security for the loan. It also gives your lender a claim against the property if you fail to make the monthly payments.

Certificate of Occupancy

You need this document if you are buying a newly constructed house. It indicates that the home is in a condition suitable for occupancy.

Once everything is done, you will leave with a stack of documents and the keys to your new home.

Do you have to have a real estate agent to buy a house?

There are no laws requiring you to use an agent when purchasing a home, so why bother?

Working through a real estate purchase is a tricky business. While the internet has made it possible for you to do a lot of legwork yourself, there’s still no substitute for an experienced real estate agent.

Trying to buy a home without a real estate agent can lead to serious consequences. You may discover that the potential problems of going solo outweigh the possible benefits.

You’ll have to deal with a mountain of questions and paperwork

Attending open houses and browsing house ads online is one of the most exciting stages of purchasing a house. However, after the excitement fades, you’ll have to deal with lots of questions regarding cleaning up your credit report and securing financing on your own.

Then, you also have to consider the legal documents needed during your house closing. Real estate law is complex and varies from state to state, city to city, and county to county. To avoid legal troubles, you must obey the letter of the law. You also need to complete all necessary paperwork correctly, accurately and submit it on time.

Legal mistakes and missing deadlines can lead to serious, long-term expensive headaches. With an agent, you simply read and sign the papers prepared by your agent for you.

Buying a house can take more time than expected

Without an agent, you have to invest countless hours in research before making an offer. You’ll have to learn about the projected cost of utilities, the local zoning restrictions, and many other things.

Aside from that, when viewing a home without an agent, it is solely up to you to determine the physical condition of the property. Are you confident in your ability to assess the house with the same attention to detail of a real estate agent?

A real estate agent can go beyond the aesthetics and tell you important details about homes you’re considering. An agent can also help you get a home’s Comprehensive Loss Underwriting Exchange report, or CLUE. This document can provide you with the history of the property including dates of claims, cause of loss, amount paid, and more.

No knowledge of the neighborhood

Picking the right neighborhood is important as it will have a significant impact on value, as well as resale potential down the road. Keep in mind that you are not just buying a physical home, you are purchasing a property in a particular area.

Without professional help, it’s tough to know the ins and outs of a particular area, whereas having an agent working in Charlottesville VA on a daily basis can be a source of information.

Considering the amount of money you are going to spend, it is worthwhile to know what you’re getting and if it fits your goals for ownership.

Paying too much

It is hard to determine the true value of homes you are looking at. Most of the time, homeowners tend to overestimate the value of their homes. The owner can choose any price, and without an agent, you will not have a way to verify the validity of that price.

Without an agent, you are likely to pay more than you should. With an agent, you have a professional who can analyze the home’s market value and tell you if the house costs too much.

The benefits of having a buyer’s agent are immeasurable. A real estate agent can save you time, money, and heartache by helping you make the right decisions. An exceptional buyer’s agent will represent your best interests.

What does a buyer’s real estate agent do?

A buyer’s agent assists home buyers every step of the way. Without one, it takes time to find and buy a home. In other words, a buyer’s agent is your ally.

You are making a huge purchase so make sure you hire an agent who is competent. Your agent will guide you, help you avoid potential pitfalls, and in the end, hand you the keys to your new Charlottesville VA home.

You need not worry about the expense of hiring a buyer’s agent because it’s the seller who will pay the commission.

Here are some of the things a buyer’s agent can do for you:

Get a clear picture of your requirements

A good listener is an important trait of an excellent buyer’s agent. A buyer’s agent should first listen to your needs, desires, goals, and wants. Think about what style of home fits you best. The agent will also help you identify the best locations that fit your budget and lifestyle needs.

Get you pre-approved

Your agent should have a network of trusted professionals involved in the home buying and selling process. Before you start looking for homes that are for sale, your agent should first connect you with a trusted lender.

You need to be pre-approved so that you will have an idea how much you can spend. Remember that getting pre-approved means that the lender has already verified your income, employment, and run your credit.

A good buyer’s agent will insist upon having a solid pre-approval letter.

Find the right property

After determining what you are looking for and what you can afford, the buyer’s agent will schedule appointments to tour homes that meet your needs and wants. Your agent will also discuss information about the various properties and neighborhoods to help you decide which home is right for you. Your agent will also counsel you on location, transportation, schools and other factors.

Negotiate the offer

Having a great buyer’s agent is beneficial because he or she has the ability to negotiate the best price for your home purchase.

Your agent will analyze the value of the home you are looking to purchase and help you come up with an appropriate price to offer. Your agent will also advise you on how to proceed accordingly when the seller responds.

Recommend other professionals

Your agent should also be able to refer you to other professionals such as mortgage brokers, real estate attorneys, home inspectors, movers, and more. This will help speed up the home buying process.

Your agent should know the best home inspectors in the area and help you choose one that you can depend on to give you the true condition of any home you are interested in buying. Your agent can also advise you on any additional inspections that may apply to the home you are looking at, including radon, mold, water, and lead paint.

Attend home inspections

Your buyer’s agent should be present at the home inspection so that he or she will hear exactly what the home inspector finds.

Once you receive the home inspection report, your agent will counsel you on what should be brought to the seller’s attention.

Help overcome setbacks

If certain issues come up, your agent can advise you on how to proceed. Just in case the negotiations become heated, it’s helpful to have an experienced real estate professional who can offer productive solutions.

Finalize all loose ends for the closing

There are a surprising number of details involved in a closing. All of these things need to be finalized before you can officially become the owner of the home. Otherwise, the closing may fall through.

Your agent will finalize all the loose ends so that the closing goes through without a problem. He or she will be there alongside you at the closing so you have support and advice, should you need it.

Let me help you find your dream home in Charlottesville VA!

Call me, Pam Dent, at 434-960-0161. My years of experience and expertise in helping buyers and sellers in Charlottesville VA will definitely help you in finding the best home that suits your needs. You can be sure to receive a first class real estate experience with me!

Top 5 Golf Course Features Found in Charlottesville Golf Communities

Many who have recently moved into any one of the beautiful and breathtaking Charlottesville Golf Communities continue to discover more reasons why they made the right choice. Whether you are a golf enthusiast or someone new to the sport, the excitement and lifestyle offered by these communities make them a perfect place to find your dream home.

For fervent golfers, these communities are like heaven on earth. Life in a golfing neighborhood allows unlimited access to the fairways, opening a lot of opportunities for players to hone their skills or to meet fellow golfers who will become playing partners. For beginners, living in a Charlottesville golf community will surely make them fall in love with the sport.

Below are 5 of the best features you can find in many of Charlottesville’s golf courses sought after by avid fans of the sport.

Variety of bunkers

Holes are more difficult when there are bunkers in the golf course. Bunkers are areas filled with sand. Others are small depressions in the land. Bunkers are positioned near the fairway or guarding the green.

Fresh air and beautiful views

One of the best features of these Charlottesville golf communities is the refreshing and captivating views that surround the area. Golf is a sport that goes best with clean and refreshing mountain air; and what better place to enjoy the sport than the rolling Central Virginia landscape. The breathtaking countryside that adjoins the fairways promises an enjoyable golfing experience.

Different hole characteristics

Each hole should have different characteristics to add complexity to the game. Features that add characteristics to holes include water hazards, fairway and greenside bunkers, and natural obstructions. Each green will offer a different set of problems to be solved and this can change daily depending on pin position and speed.

Challenging Rough

Grass in the fairway should be mown carefully and uniformly. Alongside the fairway is the rough with longer grass that can be difficult to hit out of.

Top ranking clubhouses

After a round of golf, players love to have a place to rest and cool down. The clubhouse and its facilities complete the whole golf experience. Lounge areas are perfect for discussions between players after a game. The quality of food and service are also vital factors that keep players coming back for more. These world-class clubhouses in Charlottesville’s golf communities are also available for other residents to hold private affairs and events like meetings, family gatherings, parties and the like.

There is a lot to love and experience in Charlottesville. If you want to know more about these neighborhoods and other homes for sale in Central Virginia, visit www.CharlottesvilleGolfCommunities.com

Call me, Pam Dent, today at (434) 960-0161. I have the professional and expert knowledge of the local housing market of Charlottesville including horse farms, golf communities, and other homes for sale in Central Virginia. It is my pleasure to guide you through the exciting and fulfilling journey of finding your dream home.

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Purchasing a home is just plain stressful.

1. Get your finances in order

2. Understand the home buying process

3. Partner with Pam Dent

What does your future home look like?

1. Features

2. Amenities

3. Location

4. Length of time you plan to live in the home

Buying a home is a big deal.

1. Limited knowledge of the neighborhood

2. Inspection problems

3. Negotiation and paperwork

The Benefits of Hiring a Professional Agent

Qualities to Look for In Your Real Estate Agent

Let me help you find your dream home in Charlottesville VA!

Your bid needs to stand out when you’re competing with a lot of other buyers.

1. Cash Is King

2. Get pre-approved

3. Get the sellers to like you

4. Give the gift of time

Are you considering buying a “main home” or a “second home”?

Come and experience the unique charm of Charlottesville!

How to buy a country property in Charlottesville

Are you getting ready to buy a new home?

Pre-qualification Vs. Pre-approval

1. It pinpoints a price range

2. It results in a higher acceptance rate

3. It speeds up the process

Let me help you find your dream home!

Buying a home has always been built into the American dream.

Affordability

Location

Wish List

Future Plans

Purchasing a home is a big deal.

Expect rigorous financial checks

Expect to make a down payment

Expect that you and the seller aren’t the only people involved

Expect that you have to be patient

Let me be of service to you!

How to buy a house?

What do you need in order to buy a house?

How can you buy a house with bad credit?

What are the steps in the home buying process?

How much do you need to save to buy a house?

What are the financial requirements for a mortgage?

How do I get preapproved for a mortgage?

How long does it take to buy a house after making an offer?

How do you close on a house?

Do you have to have a real estate agent to buy a house?

What does a buyer’s real estate agent do?

Variety of bunkers

Fresh air and beautiful views

Different hole characteristics

Challenging Rough

Top ranking clubhouses

Areas of Expertise

Social

Contact Pam