Purchasing a home is one of the biggest decisions most people will make in their life.   You want to make sure that you make a good buying decision based on accurate information.  At Chincoteague Resort Realty, we know the market well and can help you navigate through the many channels of purchasing a vacation rental or second home.

Make an Amenities List: Decide what features are most important to you in a home. By establishing your criteria, you will save time shopping for homes that do not meet your needs. Also, consider what locations you are interested in. When making an amenities list, determine which criteria you absolutely cannot live without and which ones you are willing to budge on.

Now that you have determined what you are looking for in a home, it is time to begin your active search for homes that interest you. Based on your criteria that you provide your REALTOR®, he/she will be able to search their listing database for homes that meet your needs.

While visiting properties that are on the market, compare homes. Every home is unique! Even if every home you visit has all of the main criteria you are looking for, each will have different characteristics. Bring your Amenities Checklist with you to all homes that you visit. Check off which features each house has. Make notes on each home of what you like and dislike.

•  Cost of upkeep and utilities
•  Amount of maintenance required
•  Cost of updating or decorating
•  Homeowner's dues
•  Management fees

Taking notes and using your checklist will help you later when you can sit down and compare properties. By comparing notes, this will help to prevent you from making an emotional and impulsive decision.

Once you have found your dream home, it is time to prepare an offer to purchase.  Have your agent compare prices for similar homes that have sold in the area recently. This will help you to determine a reasonable price to offer.

Don't be surprised if your initial offer is not accepted.  It our job to get a meeting of the minds, fairly and honestly.  Let's face it -- buyers don't want to pay full price and sellers don't want less than full price.  So there is a middle ground!

Once your offer has been accepted, it is time to work on the final details of purchasing your home. There are several tasks that will need to be accomplished during this phase of the sales transaction:

Home Inspection: Arrange to have a professional come out to inspect your home. They are able to spot electrical, plumbing, and structural problems that may not be noticeable to you at first glance. The home inspection is not required, but it is in your best interest to have one done on the home so that you do not receive any surprises once you move in. This is an expense incurred by the buyer and is included in your closing costs.

You may also need to get a pest inspection on the property to make sure there is no structural damage to the property caused by termites.

Chincoteague Resort Realty can help you set up all inspections. 

Apply For A Loan: Once an offer has been accepted, you will need to contact your mortgage specialist to officially apply for a loan.

The Final Walkthrough: Prior to closing, you should be given access to the house so that you can walk through and give it a final inspection. This should be done as close to the closing date as possible, preferably on the morning of the closing proceedings. When you go to do your final walkthrough, your home inspector will not be with you. It is your responsibility to inspect the home and ensure that everything meets your approval.

Closing: Usually at the time an offer is accepted, or after you have a commitment from your lender, a date and time will be arranged for your closing. The closing procedures will be handled by an attorney of your choosing. The day before, you will be told the total dollar amount you will need to bring to closing by the closing attorney. They will also provide you with any additional information you may need to prepare yourself for the proceedings.

During the closing, details of the sales contract will be explained to you. If everything meets your approval, you will sign the contracts to finalize the deal. Congratulations! You are now a new homeowner!!!!!!