Buyers

FINANCING: 

It is always good to visit a bank and get a preapproval letter before you start searching for real estate of any kind.  In this market, it is a must! With seller getting multiple offers, most will not even consider a buyer that has not been preapproved.  You do not want to find the prefect home, and have it sold while you are going thru the preapproval process.

NIGHTLY RENTALS: 

Buying an income producing property is not like buying a normal vacation home. Number 1…Lending restrictions…You must have a particular type of loan and not all banks offer this option. Many banks will say they can lend, but then end up trying to set you up with a commercial loan that requires a substantially larger down payment. We have several local banks that offer in-house adjustable rate loans routinely for nightly rentals.  Number 2…Rental restrictions…You cannot just purchase any property and start renting it out on a nightly basis! With condos, you must be aware of management requirements, pet restrictions, and more.  With homes, you must be aware of county and city restrictions and requirements.  I can help you navigate these new waters!

HOME INSPECTIONS:

The purpose of a home inspection is to find any problems or concerns that may be present which are not visible in a normal walk-thru of the property. Visible concerns, such as broken windows or missing screens, should be addressed and negotiated in the price of the property on the initial contract. The inspection is done to find unseen concerns such as faulty HVAC systems or appliances.  Click HERE for a printable list of Certified Home Inspectors.

TITLE COMPANY:

In addition to making sure you have clear title to your real estate; the title company can assist you on how you would like to take ownership. They are also responsible for working with your lender on paying the seller for the property and will record the new deed with your name with the county.

LAKEFRONT PROPERTY AND THE CORP OF ENGINEERS:  

When you purchase “lake front” property on Table Rock Lake, you do not own to the waters edge.  You can maintain to the “take line” which is normally the 936 elevation.  Since Table Rock Lake’s main purpose is flood control, the US Corp of Engineers controls all the water’s edge and the location and permitting of all boat docks.  Click HERE to access the FAQ about Table Rock Lake on the Corp’s website.