Buying a new home in Virginia goes digital

Many people have chosen to leave the crowds of the city for a simpler, more spacious and less stressful life. If you are one of the many looking to purchase a new home or property, you may not have to step outside of your front door. Choosing not to house hunt in the traditional manner, many new home buyers are going digital and often complete the entire home buying process, from checking out the neighborhood to closing the deal, on-line. If you choose to purchase your next home on-line, here are some things that you should keep in mind.

 

Pick the right Real Estate Agent, Lender and Attorney.

• Do your research to ensure the people you choose to be a part of your home buying team has great reviews.
• Find a lender who is known for a great on-line experience and don’t be afraid to check out non traditional paperless mortgage lenders.
• Ask questions to ensure that every member of your team has experience with online buying.
• Don’t be afraid to ask lots of questions about what to expect during the online home buying process.

Research the neighborhoods that you are interested in.

• Look at city websites such as charlottesville.org which will have information about the city, transportation, education, attractions, shopping and what it’s actually like to live in that city.
• Use Google Street View and take a virtual walk around the neighborhood to get an idea of the surrounding area. Don’t forget to check the date of the street view as some are a few years old. Use the desktop version of google street view you can go back in time to see how the community and property has changed and any improvements that have been made in the area.
• Look at the cities’ crime map to see how the neighborhoods you are interested in compare to other neighborhoods in the area.
• Get your Real Estate Agent’s perspective on the neighborhoods in the city of your choice. Ask them for the areas that they would look into if they were you.
• Check Google Map at different times of day to get a feel for traffic patterns and its effect on your daily commute.

Use all the digital tools at your disposal to explore the potential house of your dreams.

• Look at real estate websites such as Virginia Estates to look at photos of homes in your chosen neighborhood.
• Go to multiple real estate websites and look at any photos, virtual tours or 360 views of homes that interest you.
• Look at the city’s website to find information related to property taxes, GIS parcel maps, and crime statistics.
• Ask your Real Estate Agent to do a walk through virtual tour using video call or zoom.
• Don’t be afraid to ask for a second virtual walk through if you want a second look.

You may even be able to close remotely.

• Your closing agent will send all necessary documents. Take your time to look over all documents and review to ensure that there are no errors.
• Make certain the closing lender resolves any issues that you do find ASAP to keep your closing on schedule.
• Have a discussion with your lender to find out the requirements for signing and notarizing your closing documents. Some states and lenders allow you to close 100%
  electronically however most still require you to get documents notarized in person.
• Find out your bank’s process for wire transfers, ensure that you have the settlement company’s instructions on how to transfer funds including correct account number.
• Finally, if you receive wire transfer instructions via email, contact the settlement company directly and confirm it is from them in order to avoid the risk of wire transfer fraud.

The home buying process can at times feel overwhelming but with the right team on your side you will have all the support that you need. Buying a home virtually can save you time allowing you the opportunity to really research the areas and homes that you are interested in while still being able to enjoy your day to day life. With continual advances in technology, buying a home online will soon become the new normal.

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