What to Expect From the Homebuying Process with Skip Young REALTOR ®

Dated: 05/05/2019

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Skip Young - Your Maryland Military Veteran Housing Certified Realtor® located near Fort Meade MD

Yes, I am a Realtor, and I am MVHC or Military Veteran Housing Certification. Meaning I have to understand your Military Move, your Retirement move and when you take on you Veteran status, I need to understand all aspects. Working together is a partnership that I am willing to share my previous Elite Military Skills and 17 Years of Real Estate Knowledge. Working for eXp Realty as a Maryland Realtor® gives me the ability to work from anywhere. Everything is tech savvy and moving toward a full tech Real Estate Company.

Buying stuff online has spoiled us with “one-click ordering.” If only buying a Maryland house were so easy. A lot of people stumble into the whole thing and try to figure it out as they go. That’s tough; we’ve been there.

Find and Hire a Maryland Realtor near Fort Meade

From that first time Maryland homebuyer — little more than a cottage, really, but what seemed like such a massive leap of faith at the time — to the urban split-level loft you find in Waldorf MD, we’ve made the mistakes. But you don’t have to. Let Skip Young Realtor® break down the homebuying process for you.

» MORE: Find out how much house you can afford

How do I even start finding a home in Maryland?

Besides determining what your housing needs are, setting a budget, getting your financial ducks in a row and obtaining a preapproval — which is a lot to do when it comes to learning which loan you are searching for — you’ll also want a firm idea of just what kind of Home in Maryland and how far from the base you are looking for. A wish list can be a good tool. Among the potential considerations:

  • What part of town do you want to live in?
  • Are schools a factor?
  • Older home, or newer?
  • One story or two? Condo?
  • Contemporary or traditional? Something else entirely?
  • A fixer-upper or move-in-ready?
  • Near public transportation or other amenities?
  • How many bedrooms? Bathrooms?
  • Yard? Fenced?

These are just a beginning when Working with Skip Young to find your home. You’ll have a much longer list once you start brainstorming.

Do I have enough money?

You know about making a down payment. But there are other expenses due before or at the loan closing that you’ll want to prepare for, such as:

  • Earnest money, a deposit you’ll make to the seller upon signing the sales contract to show your good faith. Usually Skip Young Realtor® will ask you for 1% of the price of the home. In Maryland, near Fort Meade prices can range from $400,000 to $500,000 with interest rates as of today at only 4% you can afford to buy more house in Maryland.
  • Closing costs, listed in an official Loan Estimate, including an appraisal, credit report, loan origination fees, home insurance premiums, property taxes (often prorated at closing), title insurance, recording fees and attorney’s fees.
  • An initial deposit to your monthly payment escrow account (if one is to be established).

» MORE: Use Skip Young Realtor® mortgage calculator

Skip Young will help you figure out your Principal Interest Taxes and Insurance payment on my website

You will receive a Closing Disclosure (This can also be referred to as your CD)  regarding the total charges three days before your scheduled loan closing. This is the law! You have the right to know how much you are paying for when you are buying your home. The CD's give you a chance to make sure no predatory lending is involved. You can compare these details with the Loan Estimate you received three days after your application was made. Expect to pay roughly 3% of the home’s purchase price in closing fees. In the state of Maryland, when you are a First Time Home Buyer you will not pay your portion of the Maryland States transfer taxes. Part of the 3% in closing fees are the Transfer Charges.

Working together with Skip Young in todays market, you can expect to have your closing cost paid for. Most of of the deals i am negotiating always include closing cost paid on your Maryland Home Purchase. Sometimes a seller will agree to pay some, or all, of the closing costs, depending on how competitive your housing market is. Plus, some lenders will allow you to roll the fees into your mortgage (called lender credits) — but then you’ll be paying interest on what could have been a one-time charge. Lender credits, or “rebate pricing,” may also cause the interest rate you pay to be higher.

Do I need a real estate agent to purchase a home in Maryland?

Hiring Skip Young, a real estate agent that knows what’s selling and at what price; the neighborhoods that are in demand or overpriced; and where the homes are that fit your budget. A agent your hire like Skip Young of eXp Realty will also know how long a particular house has been on the market — information that’s not always available online, and which can affect the home’s price and enhance your bargaining power.

But most real estate agents are ultimately working for the seller, in that commission is paid by the seller and only triggered by a sale. That’s why you’ll want to find an exclusive buyer’s agent, if you can. They can be hard to find. However, agents of all kinds are generally bound by state real estate licensing laws to act in a fair and ethical manner. When you work with Skip Young Real Estate Agent, no Exclusive Buyers Agreement is signed. We sign when I complete the job for you. Means, I am willing to work hard enough to earn you business are your Realtor® and know that I can get the job done, the exclusive buyer's agent form is required when writing a contract on a house in Maryland you are buying. At that point I can write the exact home you are looking for and not have the exclusive buyer agency used as a blanket for a reason for me not to show up, or provide any excuse other then let go!

How long will this take?

You’ll likely view about 10 homes over 10 weeks to find a home you’re willing to make an offer on, according to a survey by the National Association of Realtors. Roughly half of those surveyed said finding the “just right” home was the most difficult part, but even so, there’s lots left to be done.

This is what they say according to the National Association of Realtors® - The reality is you will find 4 homes for us to tour, using my website or Zillow to locate every home for sale in Maryland. You can cancel a lot of homes out with technology today.

The entire process from contract to closing (not counting the time you’ll spend getting preapproved for a loan and house hunting) will normally take from 30 to 45 days. A contract timeline is usually no longer than 60 days. Some of the steps involved include:

  1. Negotiating and submitting an offer (1-5 days)
  2. Signing a sales contract (1-3 days)
  3. Securing your financing (21-30 days, sometimes more)
  4. Having a home inspection completed (7-10 days)

Unfortunately, after the contract is accepted, it’s mostly out of your hands. Any hitches along the way can sometimes delay the process. If you need to sign an authorization or respond to a request, do it as quickly as you can — and then just wait patiently.

Managing expectations from the Start with Skip Young Realtor® when Buying a Home in Maryland

Buying a home, especially the first time around, will probably leave you with a feeling of information overload. At practically every meeting you’ll be given “helpful” guides, informational booklets and legally required disclosures. That’s why we’re boiling it all down for you — our goal is to limit your homebuying experience to as few surprises as possible.

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Skip Young

Waldorf MD Realtor | Waldorf MD Real Estate | Skip Young | RealtorĀ® | Veteran | EXP Realty As a Waldorf Maryland Realtor I bring additional skills to the Waldorf MD Real Estate market. I grew up her....

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