Charles Carr

Realtor

Iron Valley Real Estate At The Beach

About Charles Carr

My name is Charles Carr and I have been selling real estate in New York since 1999. I recently moved to beautiful Sussex County in Delaware, and have partnered with the Powerhouse Real Estate company known as Iron Valley.  I previously had a contracting business in Queens NY for 20 plus years. Working with an agent that has construction knowledge is extremely beneficial to the entire process. I can point out the majority of house flaws before you make an offer or spend hundreds on a home inspector. If you are buying or selling please call me to take advantage of my 20+ years’ experience in home renovations and my 20+ years of experience in real estate sales.

If you are thinking of buying, the perfect home is out there; I won’t stop until we find it.  Below, I have included the 10 steps of the home buying process. I think you will find it very helpful.

If you are thinking of selling your home I have outlined everything my company and I are prepared to do to help you achieve your goals and recieve the highest price possible.

I look forward to your phone call. Thank you.

 

Charles Carr (914) 804-4823

Iron Valley Real Estate at the Beach.

When looking for a house you should see every listing in your price range, before making a confident decision. That could take several outings over a significant period of time. The agent you choose should be willing to invest that time with you. Below is a FREE buyers guide. Please read it.  Great information.

I would like to put you on auto Email for all future listings in your price range. If you like searching online for houses you will love this. It gives you direct access to the agents’ MLS system, the most accurate Data base for available properties.

Call me when you are ready to get started.  Charles Carr (914) 804-4823  charlescarr@hotmail.com

 

10 STEPS TO BUYING A HOUSE

*1.  THE PRE-APPROVAL:  The first step in the home buying process is getting a Pre-Qualification letter from a reputable Mortgage Broker. Nothing is more important and most Real Estate Professionals will not work with you until you have one. The Pre Qual letter proves you are serious about becoming a homeowner because all your private information (social security number, income, debt, credit score etc.) has been reviewed by a Mortgage Broker who declares you are “Ready, Willing, and Able” to purchase a home.  Furthermore, Pre Qual states the price range you can afford based on your income. Imagine seeing houses in the $600,000 price range and then getting a Pre Qual for $400,000. You will never like or fall in love with a 400K once you have seen a 600K, and that’s a fact!               

*2. THE RIGHT AGENT:  Once you have the Pre Qual letter, contact a Real Estate Agent in the area you are interested in. Never contact the listing agent of a property. That agent is working for the seller as a “Seller’s agent”.  He does not have your interest in mind. Find an agent who will work with you as a “Buyers Agent’. This agent will and should be willing to spend weeks and months with you until you find the ideal home of your dreams. That agent will initially show you every house on the market that is in your price range. Then that agent will continue to show you all future listings as they come on the market. Eventually you will walk into a house and immediately know it is the one you were looking for.   You will need to sign an Exclusive Buyers agreement with this agent because he or she is willing to spend months with you and likely become a trusted friend who will get you to the closing table.

*3. THE OFFER AND CONTRACT:  In my experience as a “Buyers Agent”, it is normal to show upwards of 20-30 houses before a first-time buyer is comfortable and confident making an offer. Most times buyers will lose the first house they attempt to purchase due to a higher offer. This is part of the education process necessary for a buyer to go full price when the right house comes along. Do not despair when this happens to you. 90% of homeowners, including myself, have experienced this disappointment and are grateful when the next house comes along that they love even more than the first one. The agent you are working with will present the offer to the listing agent who represents the seller. There is paperwork and signatures involved with this process. Your offer to purchase must also include a minimum 2% (sometimes more) good faith deposit that will be held in the sellers Attorneys escrow account until closing. If your offer is accepted the sellers will sign the contract your agent sent them. You now have a legal, Fully Executed Contract with “Satisfactory Inspection and Mortgage Approval” contingencies. Your agent is with you every step of the way, so do not worry.    

*4. THE HOME INSPECTION:  Your agent calls you with good news; “we have an accepted offer”. AHHH !! It’s time to celebrate, right? ….WRONG! The process is just beginning. You will hire a licensed reputable Home Inspection Company. Your agent can recommend an Inspector to you since he or she will be familiar with all the pros in the area.  This is usually done within 48 hours, and I would recommend your presence, even if that means taking time off work.  The inspection usually takes about 2 hours and can run around $400-$800 depending on the size of the house and extent of the inspection.  Some examples are Mold, Radon, Water, Septic, Termite etc.  Your agent should be able to discuss all your options and make recommendations before contacting the inspector.  The inspectors always get paid as soon as the inspection is over so bring your checkbook.   Now, there is no such thing as a perfect house. The inspector will find at least a dozen things, if not more, wrong with the property. These imperfections fall into two categories: major ticket items and insignificant defects. For example, if a house has a cracked window that was clearly visible before you made an offer you cannot renegotiate the price when the home inspector points out the cracked window. On the other hand, if the Home Inspection uncovers a failed septic field that requires a $20,000 replacement, renegotiation of the accepted offer would be expected. If you decide to withdraw your offer you will still be responsible for the Inspectors fee. For this reason, it would be beneficial to you to find an agent that has some experience in contracting and home improvement renovations. A good agent should be able to point out 70-80% of the defects before the inspection is ordered. This knowledge is crucial when contemplating the initial offer and will ultimately result in saving you time and money. If you withdraw your offer due to a seller’s unwillingness to make repairs your deposit is retuned, and the contract is null and void.  

*5. THE ATTORNEY: The attorney you choose can make or break the deal. Example: You are buying a house in Sussex County, and you choose an Attorney from Philadelphia who spends much of his time in a courtroom arguing divorce cases. He does 2 or 3 real estate closings a year but because he is your cousin’s friend, he is going to give you a really good price for his services. Is this a good idea? Do not fall prey to this scenario. Listen to your agent! You need a local Attorney in the county where you are buying a house who specializes in Real Estate and does dozens of closings a week.  This Attorney knows everyone in the county relevant to Real Estate and is able to resolve most obstacles with a phone call to the right person.  

*6. THE MORTGAGE BROKER:  ABC Bank lends money to first time homeowners. Selling mortgages is one of the ways ABC Bank makes money. ABC bank has specific criteria, unique to them, that must be met by the borrower before they agree to lend the money. (Ex, credit score, debt to income ratio, employment history etc.) Every bank has different criteria. Every bank will gladly issue you a Pre Qual letter based on a 20-minute phone call. The person you speak to gets a paycheck every Friday. That person could care less if you ever make it to the closing table. That person has no skin in the game. That person may no longer work for the bank when it is time for you to apply for the mortgage.  A Mortgage Broker deals with every lending institution in the country and will find the perfect bank based on your specific financial situation. Furthermore, that broker only gets paid when the deal closes so he or she has as much, if not more, desire to make sure the loan gets approved. It’s like having a personnel financial adviser and partner throughout the entire process. Listen to your agent. We all know reputable Mortgage Brokers who are there 24/7 unlike the 9 to 5 mortgage guy from the 800 number on the radio.

*7. THE COMMITMENT LETTER:   A copy of the Fully Executed Contract is given to the lender; you are now officially applying for the mortgage.  Your pre-qualification was based on verbal information that you gave to the lender. Now it’s time to prove everything with documentation verifying it was all true. (Pay stubs, tax returns, bank statements etc.). It is so important to be totally honest when initially applying for a Pre-Qual. It is also imperative not to make any purchases or open new charge accounts once the process has started, as this will jeopardize your ability to get approval for the loan. Upon favorably review of your documentation the lender will issue a “Commitment Letter”. A declaration of willingness to lend the money needed for purchase. The mortgage has been approved!

*8. THE FINAL HURDLE:  The “Commitment Letter” has one more, crucial, aspect attached to it. The house needs to “Appraise” for the agreed purchase price. In other words, the lender will send a licensed appraiser to inspect the house before agreeing to lend the money. The appraiser will use recently sold properties in the area to determine the value of the house in question. For this reason, buyers with a bigger down payment are more likely to get the ‘Commitment Letter’ and ultimately close the deal.

*9. THE CLOSING: Your “Mortgage Broker” calls you with the good news; the appraisal passed, and we have a “Clear to Close”. The “Commitment Letter” is issued, and a tentative closing date is set. AHHH!  It’s time to celebrate, right? YES!! At this point something catastrophic would have to occur (loss of income etc.) for the closing to be cancelled.

*10 THE WALKTHROUGH:  The day of or before closing you and your agent will do a “Final Walkthrough” the house to make sure it is in the same condition as when you made the offer. Any new defects discovered at this time will be negotiated at the closing table. Your agent will take pictures to document any new damages and present the evidence to both Attorneys at the closing table. This is an extremely rare occurrence, since the seller is just as motivated to close the deal as you are.

Congratulations:  You are now a homeowner. Welcome to the “American Dream”. Good luck.

 

                                    My Personal Pledge and Commitment.

After uploading your house on the Multiple Listing Service an aggressive and well thought out marketing campaign is put into effect. (Optional) Lawn Sign and Key Lock Box are immediately put in place.

We will immediately order a Virtual Tour, Professional Camera Shoot as well as Overhead Drone Coverage. We will try to coordinate all three, so they are available to the public as soon as your house uploads to the Multiple Listing Service.

Your house listing, complete with Photos, Virtual Tour and Drone footage is linked to all the mainstream Real Estate Websites, Zillow, Realtor.com and Trulia to name a few.  The annual fee to link to these sites is substantial however our organization realizes the vast majority of today’s homebuyers start their journey online!  We will Saturate the Internet with your listing.

Beautiful Full Color Brochures (sample enclosed) are designed and displayed in your home for all buyers to take. Buyers will remember your house, over others, when they have pictures to remind them.

With your permission, Public Weekend Open Houses (minimum of two per month) are encouraged and will be advertised throughout the internet. Frequency will depend on both of our schedules as well as weather.

On day one I design a Custom Postcard (like the sample enclosed) and begin to target local neighborhoods within a 10-mile radius of your house. I will mail 500 to alert your neighbors your house is on the market. Many people who live here know a friend or relative that is looking to relocate to this beautiful area of the country. This is done at my own personal expense. The average agent will list a property, wait for his broker to advertise, wait for another agent to sell, and then collect his or her commission. I’m not the average agent!  

Overwhelmed at the prospect of having to Sell Your House? Get excited and join forces with an Honest, Energetic Award-Winning Agent, working with the powerhouse Real Estate organization known as Iron Valley.