Thinking of buying a home?
Here are some of the ways we help you along the way!
Recommending a lender
we highly encourage you to begin your home search by contacting a lender. knowing Your budget helps us narrow down potential homes into a precise price range rather than sending you homes that do not fit your financial needs or preferences. Also, should you decide to make an offer, submitting a preapproval letter strengthens your committment with sellers, which ultimately makes your offer more appealing!
Through our MLS (Multi Listing System) program, we can set up a search with your parameters and you will be updated as soon as any home that may be of interest to you is available on the market. This way, you don’t miss out on anything!
We will schedule with you a time to meet to view the homes that are of most interest to you, we do work weekends but appointment only and typically require a few days notice to get appointments scheduled with the current homeowners.
It is extremely important to us that you walk away from this process feeling excited! Once you find a home you love, we will provide you with the market statistics so we know exactly how to make a reasonable offer.
Making an Offer
Making an offer requires using the standard NC Offer To Purchase document, as well as multiple in-house documents that protect buyer, seller, agent and firm throughout the process. We complete this documents for you, submit them to the listing agent and negotiate on your behalf once accepted.
We will be working side by side with you to help you get the home at the best price with the best terms for you.
A Few More Things We Help With...
Once you are under contract, we will schedule your inspections, set up your closing, and send a copy of your contract to your lender. We will take care of everything– all you need to do is provide your mortgage lender with any documentation needed, as quickly as possible.
Once we have your home inspection in hand, we will request that the seller
address anything you are most concerned about. This will begin another set of negotiations and we will guide you through that process.
Lastly, as your trusted advisors, we will be in contact with your lender in the days leading up to closing to ensure that everything is on schedule. We will also be sure to review the final closing disclosure and be present on closing day.
Costs Associated with Buying Your Home
Cost # 1 - Due Diligence Fee and Earnest Money
These will both be required when making an offer on the home you choose.
· The due diligence fee will be paid to the seller while you investigate the home, have all your inspections completed along with an appraisal. Should you decide not to move forward with the purchase, the seller will keep that fee. This amount can range anywhere between $50 and $500.
· The earnest money shows the seller you are serious about buying their home and willing to make an initial investment. Should you change your mind about buying the home during the due diligence period, this amount will be returned to you. This amount is typically 1% of the purchase price.
Cost # 2 - Your Mortgage
If you are getting a mortgage in order to buy your home, your lender will charge you an origination fee, this is how the mortgage lender is paid. This fee can vary depending on your bank, but typically 1% of the purchase price.
Your lender will require an appraisal is completed to show the value of the home, $500.
Your lender will have other fees as well, such as a credit check, and a few
others. Ask for a Loan Estimate and we’ll look over it with you.
Cost # 3 - Inspections
We will provide you with a list of inspections you can chose to have completed. The most common are a home inspection, $500 and a termite inspection $75
Cost # 4 - Closing
Your attorney will charge you a fee to prepare all of the paperwork they receive from your lender, this will be approximately $1,000. You will be charged to record the deed at the county courthouse, this fee is per page, set by the county. You will be charged for title insurance, this will protect you from anyone in the future trying to claim they are the rightful owners of the property.
Total expense to purchase a home will be approximately 3-4% of your purchase price.
So, if you buy a home for $150,000, you can anticipate closing costs of $5,300. These costs can always be negotiated with to be covered by the seller.
**this does not include your down payment if you are getting a loan.
** All fees are subject to change
Closing on time is dependent on you providing your lender with everything they need as quickly as possible to process your loan.
· Be prepared
· Ask you lender questions
· If your lender asks you for something get it to
them in a timely manner (if they are missing just
one item for your file they cannot move forward with the process)
· Being prompt is important
· Don’t buy anything
· No cars
· No furniture
· No increase of any credit card debt
· And please don’t want until the last minute to get all documents to your
lender… remember our closing date depends on your loan getting processed.
What Your Lender Will Need From You!
· Previous Year Tax Returns
· Paystubs for the last 30 days
· Verbal on employment
· Banks Statements for 2 weeks
· Insurance for your new home
· Any other real estate you own and mortgage states for it or proof of free and clear ownership