• Home Inspections
• Choosing the Right Home
• House Hunting Tips
• Mortgage Basics

• Estimate Your Profits
• Press Release
• Ready to Sell
• Exposure
• Getting a Response
• Set for Closing

Home Inspections
The purchase of a home is one of the biggest investments people will make in their lifetimes. But it is also among the greatest sources of anxiety. A home inspection helps ensure homebuyers of the quality of their investment by making them aware of its condition and alerting them to any concerns. This can serve to relieve stress, increase confidence and even reduce the threat of legal action in the future.

Some of the benefits of a home inspection are:
• Knowledge: Understanding exactly what you're buying - old or new
• Peace of mind: Helps in making a sound buying decision
• Savings: The home inspection reveals the need for repairs or replacements before you buy
• Fewer surprises: The home inspection limits the number of problems you may discover after you move in
• Education: A good home inspection also gives you invaluable details about your new home in addition to information about the condition of the property. You'll learn where the main shutoff valves to the utilities are located, how the house operates and more!
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Choosing the Right Home
Your job is to make the final selection of the right property for you. This is when excitement and emotion run high. Jon Beckner can assist you in the selection process by providing objective information about each property. Jon has access to a variety of informational resources and can provide local community information on utilities, zoning, schools, etc. There are two things you'll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?
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House Hunting Tips

Location counts. You've probably heard the old real estate joke about "location, location, location," but the point still bears repeating. Location is crucial. How far are you really willing to commute to your place of employment? How good are the local schools, shopping centers, public transportation, seniors services and other public amenities? Will your new home be next to a vacant lot or a commercial property? Even a picture-perfect dream home can be a mistake if it's in an undesirable location, and a poor-location home can be a particularly bad choice if you anticipate reselling the home within a few years.

Make a list. Do you (and your spouse, if you're married) really know what you need and want in your home? You'll save yourself many hours of shopping (and potentially arguing) if you make a list ahead of time. Zero in on the features you must have, would like to have, definitely don't want and would prefer not to have. Your goal is to find the right home for your family without falling in love with one that doesn't suit your needs. Tip: Start compiling your wish list by thinking about what you like and dislike about your current home.

Do your homework. Not long ago, consumers had very little access to information about recent home sales prices, market trends, homes on the market, neighborhood statistics and the home-buying process. Today, all this information and more is available on the Web. Go surfing. Get educated. Become empowered.

Get preapproved for a mortgage. Your top-dollar home price is a function of your household income, your creditworthiness, interest rates, the type of loan you select and how much ready cash you have for the down payment and closing costs, among other factors. Rather than guessing or estimating how much you can afford to spend, ask a lender or mortgage broker to give you a full assessment and a letter stating how much you're qualified to borrow. The true amount may be much more or much less than you think.

Use a checklist. Touring multiple homes is a confusing experience for most people. Rather than relying on memory, make notes about the homes you visit. Turn your priorities into a personalized home-shopping checklist and use it track the features of each home.

Wear comfortable clothing and sturdy shoes. House-hunting can be tiring, especially if you're relocating to a distant community and want to see a dozen homes in one day. There's no sense in torturing your feet unnecessarily.

Be prepared to make an offer. House-hunting can also be frustrating, especially if you know in your heart you're not really emotionally or financially ready to buy a home. If you're not ready, don't put yourself through the exercise. If you are ready, go through a blank purchase contract ahead of time so you'll know what decisions you'll face when you make an offer.

Relax. Granted, buying a home is a major life-altering event. But it's not worth making yourself insanely crazy or super-duper stressed. Save time at the end of your house-hunting expedition to unwind, calm your thoughts and emotions and keep the whole experience in perspective.
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Mortgage Basics
Your home is collateral for your mortgage loan, which is also a legal contract you sign to promise that you'll pay the debt, with interest and other costs, typically over 15 to 30 years.
If you don't pay the debt, the lender has the right to take back the property and sell it to cover the debt. To repay the debt, you make monthly installments or payments that typically include the principal, interest, taxes and insurance, together known as PITI.

Principal The principal is simply the sum of money you borrowed to buy your home. Before the principal is financed you can give the lender a sum of cash called a down payment to reduce the amount of money that will be financed.

Interest Usually expressed as a percentage called the interest rate, interest is what the lender charges you to use the money you borrowed. As well as the given rate, the lender could also charge you points, and additional loan costs. Each point is one percent of the financed amount and is financed along with the principal.
Principal and interest comprise the bulk of your monthly payments in a process called amortization, which reduces your debt over a fixed period of time. With amortization, your monthly payments are largely interest during the early years and principal later.
In addition to your principal and interest, your mortgage payment could include money that's deposited in an escrow or trust account to pay certain taxes and insurance.
Generally, if your down payment is less than 20 percent, your lender considers your loan riskier than those with larger down payments. To offset that risk, the lender sets up the escrow account to collect those additional expenses, which are rolled into your monthly mortgage payment.

Taxes The taxes are property taxes your community levies based on a percentage of the value of your home. The tax is generally used to help finance the cost of running your community, say to build schools, roads, infrastructure and other needs. You must pay property taxes even if you don't need an escrow account and even after your mortgage is paid off.
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Estimate Your Profits
So you have chosen to sell your Outer Banks Investment Property today. Congratulations! You could not have come in at a better time! Everybody knows it's a sellers market, you are sure to get the very best price for your property. Of course there is some things you will want to do to be sure you get the price that you are looking for. The first is to determine your ideal price? What should I list my property for? This is where a professional Realtor who is in the know becomes invaluable. Your Realtor has access to data on comparable homes in your Outer Banks area that can help you set a price. So relax, kick back on the beach and enjoy your experience!
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Press Release
Jon Beckner will help by listing your property on the local Realtor Multiple Listing Service (MLS), plus putting up signage, networking with all local and National Realtors and most importantly connect with qualified buyers using the latest forms of marketing technology. In addition, local paper ads, advertising on the Web and regular prospecting will provide a daily basis of marketing support. Any additional marketing suggestions will be discussed on a regular basis with each individual Seller. We are here to assist you with every step along the way. Count on us!
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Ready to Sell
You will want to put your very best foot forward as a seller and that will mean ensuring that your Outer Banks property is in tip top shape! By doing any necessary repairs you will be helping to add to the price that you have settled on. When you put your property on the market, you want to be sure your beach house is in good condition and looks attractive to potential buyers. Contact Jon Beckner for a free evaluation of your property and helpful email tips that will get your home sold faster and for a top price!
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Exposure
Now comes the fun part! Showing your property and expecting your price in return. Once your property is listed, your Realtor will notify your property management company. It is very helpful in selling that you notify your management company and request a letter to be sent to all Vacation Renters that your property is for sale. Your Realtor will help in doing the letter to the Guest. You never know, one of your Vacation Renters could be the next owner of your property. Your Realtor's job is to narrow down the people who are interested in your property. Soon enough, you will have an offer and on to success in selling your Outer Banks Investment Property.
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Getting a Response
All offers, counter-offers and contracts have to be made in writing. Once a buyer makes an offer for your property, you can accept it as is or negotiate a counter offer. Many terms can be negotiated along with your price. This is a time for the utmost attention from your Realtor to serve your best interest. The basic areas for negotiations but not limited to be are as follows: price, buyer closing cost, home inspections, closing dates. Rental income, furniture, owner weeks, etc... you may contact Jon Beckner for a consultation on areas of negotiating Outer Banks Real Estate Property Transactions in detail.
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Set for Closing
All contingencies have been met! This is a very good place to be for a seller! Your Beach house has been inspected and your attorneys have worked out the details and prepared the closing documents. You are all set! Now, all you have to do is read everything carefully and sign on the dotted line. That's what the closing is. The majority of the closings on the Outer Banks are done through the mail so it is important to stay on top of the paper work and mail the package back to the attorney's as soon as possible. Congratulations! You have now, successfully navigated the selling process and come out a winner! We were pleased to assist you every step of the way! Now you are done with selling your Outer Banks Property. If you are considering buying additional property with the proceeds from the sale you might want to consider a 1031 tax deferred exchange. It is important to make your attorney aware of any 1031 exchanges prior to accepting any offers on your property. Let's hope your next Real Estate Experience is as pleasant as this one!
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