Deciding

To Buy

Homeownership is one of the biggest life goals for most of the population. We go to work, make money, and save that money, hoping that one day we’ll have eventually saved enough to purchase a home. For many, buying a home is the biggest investment we make, and deciding to buy should come after careful deliberation and research. Are you at the point where your rent is higher than a mortgage?

Are you looking for an investment? Is your family growing – and as a result, you need more space? And finally, are you in a steady financial position to finally make your dream a reality? If you’re unsure, always be sure to speak with a financial adviser early on in the process! If you’re looking for answers to questions like, “Does North Carolina have a first-time homebuyer program?” get in touch with a lender to see what loans you qualify for.

Partnering up with a Local

Agent

There are numerous benefits to using a local real estate agent to buy a home. Through law and a code of ethics, agents are required to put their clients’ interests first. By hiring a licensed professional, you benefit from going through the process with an expert in the business. Good agents offer pricing expertise, act as a middle-man negotiator between parties, and help ensure everything gets done to cross that finish line.

With an agent, you’re also more likely to find the best home for you and your needs. Although anyone can hop on the computer and type in “homes for sale in Raleigh, North Carolina,” not every seller wants to put that information out to the public, resulting in fewer homes and missed opportunities. Agents have access to MLS software programs to help guarantee you’re seeing every option available that fits your criteria.

Find Your New

Home

You and your real estate agent will work together to create a list of requirements for your future home. You may have a few non-negotiable must-haves like it must have at least four bedrooms, a big backyard for your dog, and a room that could act as an office since you work from home. It’s also great to put together a list of your would like to have items: things like a fireplace, a patio for entertaining, or floor-to-ceiling windows. Once your real estate agent has an idea of what you want, it’s time to go shopping for your new home! Here are a few tips and considerations when attending showings:

• Keep in mind that the sellers could be watching: With today’s technology, it’s not far off to assume that sellers could be listening to your conversation through security cameras and microphones set up around the home. Acknowledge that they are the ones who ultimately pick an offer to accept, and they could hold a grudge if they heard you saying negative things about their home or personal items during a showing. Once you finish the tour and are far enough from the house, you are clear to speak freely to your agent.
• Take your time during the showing: It’s easy to find yourself rushing through a home without taking everything in but consider the fact that this is the only time you’ll see a home before making an offer. If it’s a home you can see yourself making an offer on, be sure to look for things like scratches on the floor, cracks in the walls, the age of the furnace, and the roof’s condition.
• Explore the neighborhood: As you’re driving to a showing, don’t forget to look around and explore the community and the surrounding area. Take note of things like: What is the nearest grocery store? Does this neighborhood seem family-friendly? Where is the closest park to take my dog for some exercise?

Time to go

Shopping

Now that you’ve found the home of your dreams, it’s time to make an offer! Fortunately, there are several strategies to utilize to stand out in today’s highly competitive market:

• Price: Presenting the highest offer is most often going to put you at the top of the seller’s mind, so it’s essential to come in strong with your top and best number. Writing an escalation clause into your offer contract can also help guarantee that your offer remains at the top if a higher price point does come in.
• Appraisal Gap: In today’s competitive market, it’s not uncommon for buyers to offer a full appraisal gap, meaning if the house does not appraise for the price offered, the buyer is responsible for covering the difference. We’ll work together to analyze the current market to ensure that utilizing this strategy falls within your budget.
• Inspection: Depending on the home’s condition, you can also get competitive with inspection terms. This strategy could involve only objecting to items over a specific repair price, not asking for a resolution but still having the right to terminate, or even waiving the inspection completely.
• Timeline: Being flexible with the closing timeline is another excellent way to benefit the seller and increase the chance of choosing your offer. Some sellers may need to close quickly, while others may request a rent-back period.

Don’t forget that your real estate agent will be with you every step of the way to help present the most logical yet competitive offer. If you’re working with one of the top real estate companies in North Carolina, there’s no doubt they have a playbook of strategies to help put your offer on top.