Many home buyers come to Raleigh Cary Realty with several questions before starting a home search with us, and we understand that! It’s natural to have questions and rely on us to provide expert advice on the process.
The top questions we are asked before searching for a Raleigh home are:
- What is the first step to buying?
Unless you are a cash buyer, the first step is to get a pre-approval on a mortgage along with a budget on what you can afford. Knowing you are approved and what you can spend makes it easier for us to help find you a home and get your offer accepted by the seller.
- How many houses should I see before offering?
That really depends on what you are looking for. We recommend looking at what’s available on our website and driving the neighborhoods before going on in-person tours. The beauty of virtual tours is that you can get a pretty good idea of a house before you step inside. Have a good idea of what you want, and it will be an easier process. The beauty of driving the neighborhood is does not matter how much you love the home if you do not like the neighborhood you will not buy the home and helps you rule certain areas out.
- Should I do a home inspection?
Absolutely. A home inspection is vital to discover how well the home was maintained, if it has any structural issues and if it’s still up to code. Do not skip out on this step even when they say the home is being sold As-Is you need to know what you are buying.
- Should I sell my current house before buying a new one?
Only you will know the answer to this one because of all the factors involved. Can you afford two mortgages for a period of time? Do you have somewhere to temporarily live, if necessary? Do you need to use the equity from your current home to fund the new one? All of those answers will decide this question. It also depends on your current lifestyle with kids & pets and managing the showings.
- How does earnest money & due diligence deposits work?
The state of NC is one of the few that offer Due Diligence deposits to sellers. This deposit is written to the sellers and theirs to keep the home as you do your due diligence during the negotiated due diligence period timeframe. This deposit is the sellers to keep regardless of you buying the home once you come to an agreement unless the seller defaults. Consider the due diligence money to be a deposit and show how your true interest in the home. The Earnest Deposit is held in Escrow and is returned to the buyer if they cancel during the Due Diligence period but given to the seller if it goes past the due diligence period. These deposits let the seller know how serious you are about buying the property. The deposits will vary 1 to 2% total in a typical market but can really vary if multiple offers.
There are several others we hear such as questions regarding escrows, walk-throughs, and the closing process. For answers to those, and to find your next home, contact us a Raleigh Cary Realty today!