The process of buying and selling can be very complex and requires the correct knowledge to help you make the best decisions in your real estate journey. Whether you are in the market to buy a new property, sell your current home or purchase your dream vacation home, my team and I at Crystal Coast Realty Group have an extensive knowledge of the North Carolina’s Crystal Coast and are ready to help you navigate the entire process. The goal is to make your real estate experience as smooth as possible. Here are common questions about the buying and selling process that I am frequently asked:
What is the first step in buying a property? Unless you are simply kicking tires, I recommend that you talk to a lender and get pre-approved for a mortgage before going to look at properties you are serious about, especially in this seller’s market. This exercise provides a good idea of your financial situation moving forward in the buying process. Having pre-approval by a lender also gives you, the buyer, the ability to make a powerful offer. Sellers feel more confident in your offer since you've prequalified with a lending institution. Pre-qualification may even tip the negotiations in the buyer’s favor.
How is the current market? When is the best time for me to sell? Spring and Fall are our best market times along the Crystal Coast. Currently our exciting market has low inventory, and we need properties to sell. We have buyers looking for second homes and rental investments. Present mortgage rates are excellent, with various packages available.
How do I prepare my property to be sold? Buyers want to see a neat and clean property with great curb appeal and a limited need for repairs. I can help stage your home to highlight its most impressive assets.
Is it necessary to use a real estate agent when buying/selling a property? Having a real estate agent, like me, is extremely helpful and important to all parties in the buying/selling process. I have strong expertise, connections, and experience that can make the process much more efficient, expedient and enjoyable.. Most importantly, my knowledge of the local markets and my professional contacts such as home inspectors, attorneys, and lenders will make your entire transaction process seem seamless.
How much does it cost to hire me as your buyer’s agent? I don’t typically charge a fee to help you purchase a home.My compensation is almost always paid by the seller at closing. In some rare circumstances, I will ask the buyer to pay for my services if the seller is not offering commission.
How long will it take to buy/sell my property? A buyer can move forward with the loan process once the offer to purchase contract on the property is accepted by the seller. The average loan process takes between 30 to 45 days. If the contract is a cash offer, closing can happen in approximately 14 days.
Do I sell my current property before buying a new one? In today’s seller’s market you need to be prepared to make your best offer. In today’s seller’s market, offers contingent on another sale may be discouraged or not accepted. If a seller does accept a contingency sale, they usually expect to receive a considerable nonrefundable due diligence fee to essentially pay for the time to take the property off the market while a contingency is being satisfied. With a current home sold or under contract before you enter the process of buying, you have more bargaining power, you potentially qualify for a loan easier and the seller may be more willing to negotiate.
How many properties should I see before making an offer? The number of properties you see before placing an offer is based on your wants and needs as well as the inventory that is available.
What do you think the seller will accept as a fair price? The seller is looking for not only the best price,but also the best terms and conditions. I will provide you with the most recent sales to help you with your decision on pricing. In today’s seller’s market, you must prepare to offer above list. .
What happens at closing? Your closing attorney will prepare the closing documents which disclose all closings costs, debits, credits, and loan information, if applicable. Closing costs and down payment arrangements need to be made directly with the attorney before closing. The attorney will explain all details of the closing, they will transfer and record the new deed and the attorney will give the buyers the keys to their new property.once all documents have been recorded in Beaufort, the County seat.
After putting an offer in, how long does it take? Many sellers respond to an offer to purchase and contract in a reasonable amount of time. I can also provide an “expiration of offer” by using an Additional Provisions Addendum for a quicker response if needed.
Can I back out of my offer? In the North Carolina Offer to Purchase and Contract there is a block of time known as the due diligence period. Due diligence starts with the executed contract and ends at 5:00pm on an agreed upon date between buyer and seller. Buyers may cancel their offer to purchase and contract for any reason, at any time, prior to 5:00pm on the due diligence date. The due diligence period gives the buyer the opportunity to conduct their due diligence and thoroughly investigate the property, research any questions they may have, and secure financing, if needed. Items that are addressed during the due diligence period include: all inspections, survey, appraisal, title search, financing, reviewing HOA documents, covenants, securing homeowners insurance and negotiation of repairs. The due diligence date can be extended at any time if the buyer and seller agree in writing. Buyers may ask to extend the due diligence period for several reasons such as waiting for inspection findings or securing financing.
To learn more about Emerald Isle and buying real estate in Emerald Isle and the Crystal Coast, go to www.EmeraldIsleHomesforSaleNC.com and sign up for my blog. Ready to buy or sell? Call me at 919-308-2292. Explore the video tab for my weekly uploads to my YouTube channel. Subscribe to my YouTube channel and receive free donuts at my Flip Flops Donut shop. Text your email address to 919-308-2292 and subscribe to my newsletter. My book, "Live Where You Vacation" is available on Amazon.com.
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