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If you're looking to buy a condo in Ocean City, MD, you may want to consider looking in Ocean Pines, MD. It's minutes from Ocean City and the Ocean Pines, MD real estate market truly has something for everyone in almost every price range.

To begin, you'll want to be prepared, and you be asking yourself, How do I get prepared? You're in luck! In this post, I'll share some amazing tips to help guide you on the path for buying a home for sale in Ocean Pines, MD.

#1 Getting a Mortgage Loan

The first step is to speak with a mortgage lender, unless you're able to pay cash for a home. They'll help you determine your price range. Always be sure to get a pre-approval letter before you begin looking at houses.
Ocean Pines is made up of both primary residences and second homes, so picking the mortgage loan financing is important.

• Maryland First Time Home Buyers: For a Maryland First Time Home Buyers, you may be able to get a USDA loan, which may let you to secure 100% financing. You may also be able to get a FHA mortgage or a CDA Maryland Mortgage Program, which are also great first time home buyer programs.
• Second Homes and Vacation Homes: There are great opportunities to own a home close to the beach. You get community living close to shopping, restaurants, amenities, and you're a short drive from the beach. Financing can be less restrictive compared to buying a condo in Ocean City, MD.

#3 Choosing a Location

• Homes for Sale in The Parke at Ocean Pines: Perhaps you are moving to the area to retire, and would prefer to live around others in a similar situation. Make your way over to The Parke at Ocean Pines is a 55+ community. Read my community guide here
• Waterfront Homes for Sale in Ocean Pines, MD: Maybe you are a boater, and would prefer to a waterfront home with a deeded dock at your back door. If waterfront property is out of your price range, maybe you would prefer a home close to the Ocean Pines Yacht Club where you intend to dock your boat.
• Townhomes and Condos for Sale in Ocean Pines: You may be able to find a condo for sale in Ocean Pines. There are condos on the Ocean Pines Golf Course and in Points Reach, a condominium building in the south gate. There are also townhomes around the Yacht Club and in The Parke at Ocean Pines.

#3 Choosing Home Features

There are several Ocean Pines real estate community that may influence your decision in regards to a location. A common home in Ocean Pines is a home with 3 bedrooms and 2 bathrooms, but there are plenty of additional options to choose from. When you start your home search, you should figure out what features you'll want and need in a home.

Here's a few features you may want to consider:

• Number of Bedrooms
• Number of Bathrooms
• Garage
• Storage Shed
• Yard to Maintaince
• Condo, Townhome, or Single Family Home
• New Construction or Resale

#4 Shopping for Ocean Pines Real Estate

Once your needs are assessed and provided to your Realtor, you can start looking at Homes for Sale in Ocean Pines. Your Realtor will provide you with a list of homes for sale that best meets your needs. They can even get you set up with a web portal, so you can get direct access to all of the homes for sale that fit your specific criteria.

Second Showings

After seeing many homes in a row, they'll start to run together and you'll have a tough time remembering the details about each one. If one sticks out to you and you would like to write an offer, go back and take one more look.

A second showing of a home for sale is extremely helpful to ensure you're making an offer is the right decision. Your second look at a home will usually be more thorough and you will notice things about the property that you did not notice on your first go-around.

#5 Ocean Pines Homeowners Association

Additionally, the Ocean Pines Community is a Maryland Homeowners Association. This means the seller will be required to furnish you (the buyer) with several documents known more briefly as the Ocean Pines HOA Resale Package.

Buying a Resale VS New Construction

Once you receive this package, you will have the right to cancel your purchase agreement within 7-days, should you find any of the information provided to be unacceptable.

If you're buying new construction, you'll have 10 days to cancel your purchase agreement after receiving the HOA resale package. Sometimes, a developer may have their own purchase agreement for buying a new construction project. You and your real estate agent should review the agreement to make sure the developer doesn't allow you to cancel the contact after review the HOA package.

#6 Buying a Home with Unpaid Ocean Pines Association Dues

If the seller has unpaid Ocean Pines Association Dues, the seller may not be able to settle their debt. It is common for the OPA to not settle their unpaid dues.

If the seller is unable to pay the difference or the lender isn't giving the borrower enough money to settle their unpaid dues, the sale could fall through. It may be possible for the buyer to cover the difference, and in some cases it may make sense if you're getting a good price for the house.

#7 Securing a Property

Once you locate the property, it's time to write an offer. After negotiating with the seller and coming to a meeting of the minds on price, terms and conditions you will begin to complete your contingencies such as a home inspection or securing financing. After your contingencies are completed and your right of rescission period has passed you are now able to go to settlement.