Frequently Asked Questions
Seller FAQs
Buyer FAQs
What costs can I anticipate when selling my home?
Realtor Commissions: Agent compensation is agreed upon during the consultation phase and is a negotiated price based on the gross sales price of your home. During the consultation phase we will also discuss if you will be offering cooperative compensation to the buyer’s agent.
Home Repairs and Improvements
Prior to listing your home a few repairs or updates may be suggested to make your property stand out amongst the comparable homes in the market.
Home Inspection Fees
This is typically a buyer expense, however some sellers prefer to have the home inspected prior to listing to avoid any surprises.
Closing Costs
These can include, but may not be limited to, title insurance, attorney fees, and transfer taxes. These costs may amount to 1% - 3% of the sale price.
How can I sell my home quickly?
Price it right from the start. Competitive pricing is where it all begins. Additionally, making it aesthetically pleasing makes it stand out. This may include curb appeal, decluttering, fresh paint, and making it sparkle with a deep clean! We will go over this and other strategies more in depth during your consultation.
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Appointment Book:
Schedule an appointment to connect with us - we will answer your questions and go over our services to see if we are the best fit for you in your home buying journey. We offer a no pressure, no commitment consultation, and genuinely just like getting to know new people in the area.
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How do I know how much house I can afford?
Several factors come into play when assessing your budget. Lenders take into account your income and debt-to-income ratio, as well as agent commissions. Traditionally, sellers paid buyers agent fees, but new commission rules makes it the buyer’s responsibility to negotiate and pay their agent’s commission. However, this can be negotiated when submitting an offer on a home and realtor fees can be requested to be covered by the seller. Prior to showing homes a buyer’s agency agreement will be signed with an agreement of buyer compensation to the agent.
What is the first step in the home-buyer process?
The first step is speaking with a lender to get pre-approval. This allows the buyer and agent to search within the pre-approval amount as well as what you are comfortable with spending on a home. It is recommended that you reach out to several lenders to see what rates and fees they are offering to get the structure you are most comfortable with.
How does the offer process work?
Your agent will put together an offer to purchase contract. We use the North Carolina Real Estate Commission forms. This offer will include the purchase price, closing date, due diligence, and more. Once you are comfortable with the offer the agent will send it to the seller’s agent for review and acceptance, counter offer, or decline. It is common for negotiation before a favorable term is agreed upon by both parties. When an offer is accepted you should be prepared to pay the earnest money deposit or due diligence money offered as part of the agreement.
What closing costs can I anticipate?
Buyer closing costs can range from 2% to 5% of the purchase price. This may be based on, but not limited to, loan type, attorney fees, taxes, inspections, appraisal, and realtor commissions.
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