The process typically involves getting pre-approved for a mortgage, finding a real estate agent, searching for homes, making an offer, getting a home inspection, and closing the deal.
Closing costs generally range from 2% to 5% of the home’s purchase price and may include lender fees, title insurance, and appraisal fees.
Market conditions can vary by region, but overall, North Carolina has been experiencing a competitive market with high demand for homes.
Property taxes in North Carolina are relatively moderate, averaging about 0.77% of the home’s assessed value, but they can vary by county.
Yes, North Carolina law requires a real estate attorney to be involved in the closing process to ensure all legal aspects are handled properly.
Due diligence is a period during which the buyer can inspect the property, review documents, and secure financing. The buyer may also back out of the deal for any reason, though they might lose their due diligence fee.
A Comparative Market Analysis (CMA) provided by a real estate agent or an appraisal can help determine your home’s market value based on recent sales of similar properties in the area.
Pre-qualification is an initial assessment of your ability to borrow, while pre-approval involves a more detailed review of your financial situation and can give you a more accurate loan amount.
Yes, there are several programs available, such as the NC Home Advantage Mortgage™, which offers down payment assistance and competitive rates.
A real estate agent can offer expertise in market trends, negotiate on your behalf, handle paperwork, and provide valuable advice throughout the buying or selling process.