Buyer FAQ

As dedicated real estate professionals in Central North Carolina, we understand that buying a home is a significant decision with many important considerations. Here are some frequently asked questions to help guide you through your home buying journey.

The first step is getting pre-approved for a mortgage. This will give you a clear idea of your budget and strengthen your position when you're ready to make offers. Next, outline your home needs and wants, and then connect with a local real estate agent who understands the local market and can guide you through the process.
Consider factors such as local schools, commute times, community amenities, and future area development plans. It's also wise to visit the neighborhoods at different times of the day and week to get a sense of the community dynamics and lifestyle.
The timeline can vary significantly depending on market conditions, your financial situation, and whether you have a home to sell first. Typically, once an offer is accepted, it takes about 30 to 60 days to close on a home. The search itself can take a few weeks to several months.
Closing costs include fees and expenses you pay to finalize your mortgage and transfer the property ownership. They typically range from 2% to 5% of the purchase price. These can include loan origination fees, title insurance, appraisals, home inspections, and more.
There's no set number; some buyers find their perfect home the first time they go out, while others may need to see 20 or more houses. The key is to view enough to feel confident in your decision but not so many that you become overwhelmed.
A buyer’s agent represents your interests in a real estate transaction. Unlike a listing agent who represents the seller, a buyer’s agent works to ensure you get the best terms and price for a property. They provide market insights, negotiate on your behalf, and help navigate the complex process of buying a home.
In a competitive market, it’s important to make your offer as attractive as possible. This can include offering a higher price, increasing your due diligence or earnest money deposits, reducing contingencies, or modifying some of the other terms to better suit the seller’s needs. Your agent can provide guidance on strategies to stand out in a bidding war.
Yes, there are several programs available for buyers who do not have a large down payment. FHA loans, for example, can require as little as 3.5% down, while some conventional loans offer options with as little as 3% down. There are also various state and local programs that assist first-time home buyers and some that offer 100% financing!
Absolutely. A home inspection is a critical part of the home buying process. It can reveal issues with the home that could require costly repairs. An inspection gives you a deeper understanding of the property you're considering and can be a valuable tool in negotiating.