Buying Ocean City Real Estate
Buying real estate in Ocean City and the surrounding areas can get a bit overwhelming with all of the property listings and related information that is available. Through my experience and knowledge acquired in the marketplace I can make this process much easier and more efficient for you. Below is the plan I have in place for my clients to ensure a smooth transaction and an enjoyable experience.
This website was created specifically for the Ocean City real estate market. Every listing for sale in Ocean City is featured on this website. The listing data is sourced directly from the Ocean City Multiple Listing Service (MLS), which is the most accurate and timely source of property information available.
The advanced search tools on this website enable you to search available listings by property size, type, location, buildings, communities, amenities and more. I can set-up saved searches for you to make the search process more efficient. Simply click on your saved search and the website will display all of the listings currently available that match your exact property specifications.
The Ocean City real estate market offers a lot of options and you may or may not have an idea of the type of property you are looking for. Property considerations such as size, pricing, views, location, rental potential, amenities, carrying costs and other factors are all important in finding the right property.
As you start the property search process an initial conversation will be helpful for both of us. I can answer any questions you may have and point out some things you may not be considering, which will get you started in the right direction. It will also give me an idea of what you are looking for so I can keep an eye out for new listings.
Set up a Property Tracker Account on the website to keep your Ocean City real estate search organized. This useful tool will save you a lot of time and make your property search more efficient.
Save your property search specifications so you don't have to go through the cumbersome process of inputting your search criteria every time you visit the website. Simply click on your saved search and it will show you an updated list with all of the properties currently available that match your specifications.
As you are going through the listings you can save properties of interest as favorites for later reference and to monitor their pricing and status. When you come to Ocean City to look at properties I can pull your favorites from your account to get the appointments set. Additionally, you can share listings with friends and family, gets questions answered promptly, take notes on listings and more.
Getting the best deals on real estate in Ocean City and the surrounding areas requires knowing about the new listings and price adjustments as soon as the become available. Sign up for my New Listing Updates program and I will email you these properties that match your exact specifications as soon as they hit the market.
Simply fill out the Property Information Form with your desired property specifications and I will get the new listing email updates set up for you. This service will save you a lot of time and effort, while also ensuring you do not miss out on a good opportunity.
If you are going to be financing your Ocean City real estate purchase you will want to secure a pre-approval letter from your lender ahead of time for a few reasons. First, being pre-approved for financing can provide negotiating power in an offer to purchase and will make that offer appear stronger to the Seller. Secondly, most Sellers and their agents will require a pre-approval letter before signing off on an offer, which opens the possibility of other offers coming in while you secure one. Finally, getting pre-approved ahead of time ensures your potential real estate purchase fits in with your overall financial strategy and goals. Obtaining a pre-approval letter doesn't need to be done immediately, however you will want to secure one before coming to Ocean City to look at properties to purchase.
When you are ready to come to Ocean City and look at properties I will set up a comprehensive property tour for you. Prior to your visit I will get a list from you with the properties you would like to see and will arrange showing appointments for all of them. I will also go through the Multiple Listing Service to see if there are any other good opportunities that you may have overlooked.
While scheduling the appointments I will perform preliminary research on the listings and will see what additional information I can gather from the listing agents. While you are here we will tour all of the properties, view any related amenities and I can answer any questions you may have. You will have as much time as you need and we can go back for second looks at any properties that may be of interest.
Analyze Listings of Interest
Once you have identified some properties of interest I will go over them with you and help you weigh the advantages and any potential disadvantages of each. I will get questions you have answered and gather any additional information you may need, such as rental histories, pricing history, etc.
We will go over all of the recently sold and related comparable property information that is available, which will enable us to determine the property's current market value and formulate a pricing strategy to move forward with. All of these steps will ultimately put you in a position to make informed decisions and get the best deal possible.
Preparing and Negotiating an Offer
Once you have identified a property you want to pursue I will assist you with preparing an offer. We will determine a pricing strategy based on the information we gathered in the previous step. I will then prepare the offer based on your terms and contingencies and then go through everything with you, ensuring your are comfortable with and understand all of the terms, timeframes and contingencies. All of this can be done either in person or electronically through email and phone.
Once you have signed off on the offer I will then present it to the Seller's representative. When presenting the offer I will provide the basis for it so the Sellers know where we are coming from. I will leverage market data that is favorable to you and utilize other proven negotiating strategies in an effort to get you the best deal possible. The Seller can then either accept, reject or counter your offer. In most cases the Seller will counter your offer, which we will have assumed and factored into your initial offer. The ball will then be back in your court to accept, reject or make another counteroffer. This process will continue until we come to an agreement or walk away.
I will handle coordinating all of the steps during the contract phase for you. All you will need to take care of is getting the lender the financial information they need and I will take care of the rest!
The first step will be to get the mortgage process and title work underway by initiating the loan application if you are financing. I will ensure both the lender and title company have all of the documents and information they need to get started.
While this is being done I will get the property inspections scheduled and ensure all of the required home owners association documents are ordered. Once the inspections are complete I will negotiate and coordinate any necessary repairs. When we receive the homeowners association documents I will assist you in reviewing them and get answers to any questions you may have.
Throughout this entire process I will keep in touch with all of the related parties to ensure everything is progressing as it should and I will always be available to answer any questions you may have.
The big day is here! Several days prior to the property closing I will email you contact information for the utility companies to arrange for services in your name. The lender and title company will be in touch a few days prior to closing to go over the final settlement figures and provide instructions for the closing funds.
On the day of closing I will meet you at the property you are purchasing prior to settlement for a final walk-through. During this time we will ensure that any required repairs were made and that the property is in the same condition as when you made the offer on it. From there we will head to settlement, sign a few documents and then you will be off to the beach!
Lets Get Started!
This process ensures you have a smooth and efficient real estate transaction from start to finish. If you have any other questions or are ready to get the process started give me a call at 443-614-9179 or send me an email below.