Showing posts with label Uptown. Show all posts
Showing posts with label Uptown. Show all posts

The Home Buying Process - Part 3

Buying a house in Charlotte can be a rewarding and challenging experience. The right Realtor can make the entire process as smooth as can be. In this section we will explore what happens in the weeks after your offer has been accepted By this point you have already secured your loan, found the home of your dreams and submitted an offer that has been accepted by the seller.



Weeks 2 and 3 after we’re in contract

  • Schedule closing date and time with attorney and have attorney order survey, if a survey is desired.
  • Lender will order an appraisal of the property (valuation of property)
  • You will set up homeowners insurance policy with assistance from lender. Check with your current car      insurance carrier for potential discount rates.
  • Set up utilities at new address for closing date
Week of Closing

  • Re-inspect any repairs that were made
  • Review HUD/Settlement Statement
  • Get certified check from bank (based on final HUD numbers). Check made out to closing attorney.
  • Walk through property morning-of or day before closing
  • Close on property in the morning before  so the deed can be recorded the same day and keys can be exchanged. Make sure to bring picture ID to closing and certified funds!
  • Bribe your friends to get them to help you move in!
  • RELAX…. This process can be educational and empowering.


Be prepared for the following expenses

  • Building Inspection:  $300 to $600 (depending on size of home)
  • Wood destroying insect inspection:  $55 to $80
  • Survey: ~ $375
  • Attorney fees: $550 - $750
  • Down Payment: ask your lender how much you’ll need to put down. Will probably range from 3.5% to 20% depending on your credit, income, and price range of home
  • Lender fees:  Ask your lender to give you a Good Faith Estimate
  • Average estimate of closing cost’s: 2.5% – 3% of purchase price
  • Radon inspection: ~$300
  • Home Warranty: $350 - $450
  • REMINDER: asking the seller to pay for the above expenses (a.k.a. closing costs) is always an option      during negotiations


Once you have run through all of the hoops and made it to the other side of the home buying process you can sit back and enjoy the fruits of your labor. You now get to move and redecorate, repaint and remodel to make your new house a true expression of your families personality. If there is anything I can do to ease your home buying process feel free to contact me at sarah@sarahmartinhomes.com.

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The Home Buying Process- Part 2

Buying a house in Charlotte can have plenty of snags that the inexperienced may find cumbersome. With the help of a trained Realtor, the home buying process can be as smooth as your new granite countertops :) Once you have found the home of your dreams and submited the offer to purchase, your nest steps are:

Photo courtesy of theraleighcafe.com


During the offer negotiations

  • Negotiate purchase price and other terms (other terms are VERY important; often just as important as the purchase price).
  • Terms other than price - Due Diligence Fee, Due Diligence Period, Earnest Money Fee, Seller-Paid Closing Costs, Settlement Date, etc.  (These will be explained in greater detail throughout process.
Days immediately following acceptance of offer:

  • Choose closing attorney of your choice (I can help you select, if needed).
  • Get structural/mechanical and wood destroying insect inspections (suggestions available). Other specialty inspections available: HVAC, septic, mold, etc.
  • Review inspection reports
  • Submit Due Diligence Request to sellers
  • Negotiate the DDR/what is to be repaired by Seller or negotiate repair credit
Photo courtesy of Home Inspection Charlotte  

The following weeks can often be the most trying. Home inspections, pest inspections and other unforeseen problems can pop up at any moment and change the entire course of the home buying process. Rest assured though, with the right Realtor everything can be worked out and you can sleep sound at night knowing that your Realtor is on top of things. Check back again to see what to expect over the coming weeks, if you have questions at this point feel free to contact me at sarah@sarahmartinhomes.com


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Buying a House Near a Park

Clients who are looking for homes and also have children seem to always put "close to a park" or "within walking distance to _______" high on their list. It's important for parents of this generation to be able to take life slowly when they choose to by taking a stroll to the park or getting out of the house without getting into the car. I think it's our desire to go back to the days when our parents (or grandparents) walked to school and church (in the snow, of course) or when we were allowed to ride our bikes around the neighborhood (without having to bring a cell phone in case of an emergency). I've put together a list of neighborhoods and the parks nearby and another list of 'hoods with markets, restaurants, or shops nearby. Hopefully the list will help you narrow in on which 'hood offers the most for you and your family:



Dilworth
Freedom Park
Latta Park
Tom Sykes Rec Center
E.B. Moore Park
Baxter Street Park
A great resource: dilworthonline.org

Chantilly/Elizabeth
Chantilly Park
Hawthorne Park
Independence Park
Eastover Park

NoDa
Highland Park
Tryon Hills

Plaza Midwood
Cordelia Park
Midwood Park
Veterans Park
Progress Park

Myers Park
Colonial Park
Eastover Park
Edgehill Park

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Charlotte Tops Another Housing List: Walkability

"Walkability" sounds like a test the pediatrician is going to ask your toddler to perform, yet it's just another housing list that Charlotte tops-once again. Hooray!


Charlotte is a walkable city according to a national study! This study shows that homes that are more walkable are worth more.
Here's a snippet from the study:
"More than just a pleasant amenity, the walkability of cities translates directly into increases in home values. Homes located in more walkable neighborhoods—those with a mix of common daily shopping and social destinations within a short distance—command a price premium over otherwise similar homes in less walkable areas. Houses with the above-average levels of walkability command a premium of about $4,000 to $34,000 over houses with just average levels of walkability in the typical metropolitan areas studied."


As a mom, being able to walk to the grocery, to work, the gym, the park, to shops is a great "plus". Mom & kids get to experience a little fresh air, get some exercise, and mingle with the neighbors. It brings about that American charm most homeowners are looking for these days. Whether you're in a downtown area or in a suburb, being able to walk to and fro from your fave spots draws positive attention. Don't you "ooo and ahh" when you drive through a neighborhood that has sidewalks? Or feel proud of your fellow citizens when you see them hoofing it from home in their suits, paired with sneakers, of course, walking briskly towards the office? Being able to walk to your errands means fewer lifts of the blasted car seat in and out of the back seat (which cannot be good for our backs), shedding a few extra pounds, and getting to know your neighbors.


Top Charlotte Neighborhoods with the Walkability Factor:
  • Dilworth
  • NoDa
  • Eastover
  • Plaza-Midwood
  • South End
  • Elizabeth
  • Chantilly
  • Uptown
  • Commonwealth


Other cities that topped the Study:
  • Dallas
  • Chicago
  • Washington, DC
  • San Francisco
  • Seattle
  • Austin
Click Here for the Full Report






Happy Walking, Charlotte!
 






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