Thinking of buying a home?

Be Sure to ue a Buyer's Agent to help you!

A Buyer's Agent is an agent that is working to protect your best interests when buying a home.  Seven reasons to work with me , Loni Walker as your Buyer's Agent, when searching for your home:

1.  Save Time!  I can show you any home on the market.

2.  Save Money!  I can save you money when purchasing a home.  

3.  Convenience!  Ever call a "Listing Agent" off the sign in front of a property and wait hours for that return call?  When you work with me, you'll have direct access to me, and get answers on any property promptly.

4.  I represent YOU!  Did you realize that the Listing Agent represents the home owner?  Doesn't it make sense to have your own Realtor on your side?

5.  Get Results!  There are ways to win these bidding wars.  Things you can do to stand out from other offers.  Let me show you how!

6.  Get the truth!  You may not always like the answers, but I will give you my honest feedbacks.

7.  My service is FREE!  That's right.  My fee is already covered by the "Listings Agreement".  No added costs to you.

Loni's Home-Buying Guide

How Loni can help you find your next home!

Hard to believe but finding the house is actually the easy part.  During our initial meeting, I will ask you for specific information about your home.  This information might include:  Size of the home, Price Range, Location, and Style of the home.

These factors are then entered into my search program and you will receive every listing which fits these criteria.  I do not "pre-screen" the listings, nor do I pick-and-choose which listings come to you.  Every home is open to you, and you just need to simply phone me to arrange for a showing.

Mortgage pre-approval

By getting a mortgage pre-approval, you will know how much you can truly afford.  A good lender will help you explore your financing options and determine how much you can borrow and the type of loan that will work best for you.  Contact me for a list of good lenders, some may even help you with your closing costs.

Types of mortgage loan programs popular in the Jacksonville area:

  • VA Loan:  100% finance home loan with zero down payment.  It is available to veterans and it is the most popular loan program in the Jacksonville area.  
  • USDA Loan:  100% finance home loan with zero down payment.  It is available for homes in the rural areas.  This includes some parts of Jacksonville, Hubert, Richlands, and other parts of Onlsow County.  If you have a house in mind and want to know if it is qualified with the USDA, contact me.  I will need the exact address.
  • FHA Loan:  This requires a 3.5% down payment. 

Closing cost for your home

Don't confuse closing costs as part of the down payment.  Buyer's closing costs include various fees that are charged when buying a home.  No matter what type of loan you get, they all have closing costs.  As a rule of thumb, closing costs in the Jacksonville area run about 3% of the purchase price.  For example:  Closing costs for a $150,000 house is about $4,500.  This does not include funding fees like VA funding fee.

Closing costs have two parts:

  • Upfront costs: These are the fees you pay out before closing.  Upfront costs include earnest money deposit, home inspection, appraisal, and any other inspections you want to include.  Although you get back the earnest money deposit after closing, it is still money out of your pocket.  
  • Costs at closing: These fees include prepaid property taxes, prepaid homeowner insurance, prepaid interest, lender's fee, attorney fee, title insurance, and miscellaneous fees like credit report and flood certification.  

Main elements of the Offer to Purchase

Price:  Most sellers focus mainly on the price, so this is very important part of the offer.  However other items also come into play.

Deposit:  Most offers to purchase a house are accompanied by a check.  This check is generally referred to as the "earnest money deposit."  The basic reason for the deposit is to convince the sellers you're really serious about purchasing the property.  The amount of the deposit varies from purchase to purchase, depending on a variety of factors.  This deposit will only be cashed into an escrow account if your offer is accepted.  If the offer is subject to some type of condition (such as financing or a home inspection) and the offer falls apart as a result of these conditions, you will receive a full refund of the deposit.

Conditions:  These let you out of the deal if the house has a problem that didn't exist, or about which you weren't aware, when you went under contract.  Five standard conditions are: 

  • Finanicing Contingency - lets you out of the contract in the event that you can't qualify for a mortgage or if your loan paperwork comes in with a higher interest rate you were promised. 
  • Inspections Contingency - protects you from paying too much for a home that has major problems. 
  • Clear title - this releases you from having to buy a home whose ownership is uncertain or that's subject to a lien to pay off the seller's debts.
  • Conditiion at Delivery - protects you in case something drastic happens to the home before closing.
  • Community Restriction - lets you review the community covenants and restrictions (home owner's associations) and allows you to pull out of the deal if you don't like what you see.  For example: the association fees are too high, or the neighborhood has rules you reject. 

Possession Date:  When you want to move in?  This usually takes place after closing and the deed is recorded.  Some sellers are flexible as to possession date.  However, there are things like "take possession before closing" where you rent the home from the seller while you wait for the closing.   

Closing is the final stage in which the home is officially transferred from the seller to the buyer.  Closing could take as quick as 2 weeks, but on the average it is between 30 to 45 days from when the offer has been accepted.

How much should we offer for this house?:  This is the most common question asked by buyers.  In order for the anwser to be of any value I must perform a Comparative Marketing Analysis, as well as receive information as to how many competing offers there are.  It is only after these two items are known, that a worthwhile answer can be given.  Some guildlines are:  how long the house been on the market, how motivate the seller is, and how many similar homes are on the market in the that neighborhood.

Let's go look at some homes!

You will receive all available listings via e-mail.  You can look through these listings from the comfort of your home, and learn important facts about the listings, such as the address, taxes, room sizes and usually see a variety of interior photos.

If one or more of these listings look interesting, you simply call, text, or e-mail me and ask to see the home(s).  I will arrange the showings and go through the homes with you.  In the end, if you would like to put an offer on a home I will perform a Marketing Analysis to help establish the true value of the home, guide you when writing your offer, and protect your interests.

If you have any questions at all, please feel free to contact me as I am always here to help.  Keep in mind I can show you any homes for sale in the area.  You could call/text me at 910-467-3602, email at loniwalker@gmail.com or vist www.AllHomesForSaleJacksonvilleNC.com.  I look forward to helping you!  Loni

 

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