Tuesday, August 16, 2011

9 Tips to Streamline the Home Buying Process on Deep Creek Lake!

It’s hard to believe that we’re already in the middle of August and the care-free summer season is almost over.  For those of you who’ve spent the summer on Deep Creek Lake, we hope you’ve had a great experience!  Owning a vacation home on Deep Creek Lake is the ultimate way to unwind and, luckily, you’re able to venture to Deep Creek Lake on weekend getaways throughout the year!  
We hope that the reason you’ve decided to spend a few minutes on our blog is because you’re considering buying either a permanent residence or vacation home on Deep Creek Lake.  As the team at Coldwell Banker Deep Creek Realty, our goal is to make sure that all of your questions about living on Deep Creek Lake, as well as the current real estate market and other pertinent questions, are answered.  One way we do this is here on our blog where we post current events, information for buyers and sellers and much more!  
A few weeks ago, we discussed eight steps for making an offer and buying a Deep Creek Lake home.  We know that being armed with information before you enter the Deep Creek Lake Real Estate market will help the process run smoothly.  Today, we wanted to focus on how to streamline the home buying process.
You may be thinking about buying a Deep Creek Lake home, but are concerned that it will take too long.  You imagine yourself cozied up in front of the fire for the beautiful fall season or spending the holidays in your home which overlooks the lake, and wonder if it’s even a possibility.  We know that it is and want to help make your dreams a reality!  Take a look at these nine tips for buying a home in the shortest amount of time possible.
1.  Start Your Search Online- Instead of spending your time perusing Deep Creek Lake or other areas within Garrett County for open houses or for sale signs; get online to streamline your search.  There are many great homes on Deep Creek Lake and the surrounding areas you can view online.
2.  Get Pre-Approved- Finding the home of your dreams on Deep Creek Lake and then shopping for a loan is a risky move, as most home sellers won't even look at an offer that's not accompanied by a pre-approval letter.  Getting pre-approved ensures you know your exact budget and can save you from a bidding war if many are vying for the same home.
3.  Prioritize Your Housing Needs- Finding a home fast means being flexible.  The longer the list of requirements, the harder it will be to find a home.  Keep your list short and to the point.  Focus on the key elements you’re looking for, such as lakefront or lake access, and let the extras fall as they may.
4.  Look for Motivated Sellers- Again, this shouldn’t be hard to find motivated sellers in today’s buyers market.  Sellers are well aware of the competition they’re facing as the Deep Creek Lake Real Estate market is rich with great homes.  Don’t settle for sellers who aren’t willing to budge on a home at the top of your price range; there are too many other beautiful Deep Creek Lake homes out there that will have motivated sellers.
5.  Find a Great Agent- This may seem easy, but finding an agent that truly knows the Deep Creek Lake Real Estate market and can show your properties that are right in your price range and meet your style and needs can be challenging.  Of course, we’d love to help you in your home search and know that our experience and proven success will make the home buying process an easy one.  
6.  Steer Clear of Short Sales- While short sales seem to be flooding the market across the country; if you’re looking for a quick buy, short sales are not the way to go.  There is a long process involved with these homes and complications are common and can elongate the time it takes to buy a home.
7.  Negotiate Repairs- If an inspection reveals that the home you want to buy requires repairs, taking the responsibility off the seller can help you close the deal quicker. After obtaining estimates, ask the seller for a credit rather than asking them to complete the repairs themselves. 
8.  Have Cash Ready for Closing- You don't want to be scrambling for funds at the last minute, so be prepared for this important date. A day or two before closing on your Deep Creek Lake home, you'll get the final settlement statement which details the terms of your loan and all the closing costs. Be sure to get a certified or cashier's check made out for the total amount you owe at closing, including the down payment since you can’t use a personal check. 
9.  Have a Plan B- Because not every transaction goes smoothly, be sure you have a property or two as a backup; you don’t want to have to start from scratch!
Of course we’re here to help in anyway possible to ensure home buying success!  If you have any questions or are ready to get started in order to begin enjoying your Deep Creek Lake home, let us know!  We look forward to hearing from you!


Patrick Kane
Sales Manager/Co-Owner
Coldwell Banker Deep Creek Realty
Your Deep Creek Lake Real Estate Expert

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