Finding a Realtor and house take time
As younger generations take their place in the economy, I watch as the “instant gratification” economy has created unrealistic expectations on the part of many buyers and sellers.
Watching reality TV shows where the stars find, fix and sell a home in 30 minutes is anything but real. The reality is that it takes time to find, price, buy and prepare a home to move into, and Realtors know this. Let’s look at this process in terms of time.
Finding the right home to buy might seem easy after looking at the dozens of websites with homes for sale. However, until you take the time to visit each home that might interest you — with your Realtor — you cannot possibly understand the market conditions.
You need to see the range of what is available at what price to accurately understand what price to offer for the one you want. Remember if you are working with one Realtor to see homes, he or she understands your wants and needs. If you are visiting open houses on Sunday and haven’t chosen a Realtor to represent you, each of those Realtors at the open house represent that seller and only want you to buy their home. It takes time and effort to work with one Realtor, but it is well worth it.
Despite the TV ads for “Rocket Mortgages,” getting the right loan is a process. A quick credit check online and you can close tomorrow. Not! Your local bank gets its mortgage money at the same place as the TV lenders, so local is not more expensive. Local lenders will pre-approve you in the same few minutes as online.
The local lender will then take the time to make sure you get the right mortgage — FHA, VA, 15-year, 30-year, etc. Understanding these options takes some time. Then there is the time to negotiate the right price, time to get an appraisal to make sure the price is in line, and time to get a home inspection and work out any problems.
It takes time for the title company to search the owner’s title to make sure the liens and mortgages are paid off at closing. Time is needed to get the stack of paperwork in order for signing by both buyer and seller, time to get it to the courthouse and record your sale at the auditor’s and recorder’s offices, and map room.
For each method designed to speed up the process of buying or selling a home, the government has found a way to slow it down through the avalanche of regulations from Washington and Columbus. Your Realtor will give you a realistic estimate of the time you will need to buy or sell your home. Just remember that good things DO take time.
Darlene Mink-Crouse is the 2018 president of the Warren Area Board of Realtors.