Buyer’s Guide
Benefits of Using a Buyer’s Agent • Research and Expertise: • Research areas and share expertise • Furnish real-time market data, showing trends and competitive activity
• Property Search and Selection: • Preview homes • Locate appropriate properties • Advise on properties the buyer may not have noticed • Furnish private/pocket listings as options • Advise on appreciation potential and historic property track record • Recommend emerging areas the buyer may not have considered
• Guidance and Negotiation: • Act as a tour guide for the entire area the buyer is considering • Advise on proper amounts for due diligence/earnest money and terms • Structure contracts • Arrange multiple inspections, appraisals, verify permits, and representations • Interface with local governance on property compliance and modifications
• Concierge Resources and Services: • Identify quality contractors, interior designers, and vendors • Furnish vendor lists of professional trades • Furnish professional services relationships with attorneys, financial advisors, CPAs, insurance, and banking
• Lifestyle and Daily Needs: • Aggregate school, lifestyle, dining, lodging, and buyer needs information • Assist with day-to-day lifestyle needs, such as doctors, hair and nail salons, clothing stylists, nannies, elder care, etc • Recommend community and special interest spaces such as equestrian, boating, golf, shooting, etc
Buying a Home in North Carolina • Research areas you are targeting online • Select an agent with experience in those areas • I dentify homes you’d like to see (your agent
can set you up with a search) • I f your agent has a buyer’s home search app,
download that to your phone •B e prepared to visit new homes immediately as
they come on the market •C onsider FaceTime tours for quick access, but
understand due diligence fees are upfront and non-refundable once an offer is signed •L ine up financial resources & documentation to
move quickly
Multiple Offers •G o the extra step to get pre-approved, not just pre-qualified.
Have your pre-qualification letter, cash or cash equivalents such as Ribbon, or a letter from a licensed financial advisor available for cash transactions.
•C onfirm with the listing agent that there are multiple offers
in hand
• Ways to differentiate your offer • Cash • Quick Closing Time Frame • Rent Back Option for Seller • Short Due Diligence Period • Waive Inspections • Appraisal Waiver • High Due Diligence Fee • Quick wire/deposit option • Can be split into two payments to “buy” days to inspect •B e careful starting low, this can alienate a seller who gets
another offer
• I f you are the first offer in, confirm whether the list agent will
call for highest and best if multiple offers received
• A seller does not have to: • Allow a second chance on an offer or call for “highest and best” • Disclose that there is a second offer • I f you “win,” Due Diligence fees will likely be due immediately
upon acceptance
Offered, Signed, and Accepted •R eview terms of the offer to purchase
disclosures, particularly fixtures section
Fees Due: Credited to Sales Price • Due Diligence • Non-refundable to seller • Earnest Money • Can be deposited at contract or another date • Refundable up to the end of Due Diligence Inspection Period
Due Diligence Period • Buyer can cancel for any reason • Due diligence fee • Due within 24 hours of acceptance • Non-refundable/payable to the seller • Credit to the sales price at closing
• Earnest money • Refundable until due diligence date expiration • Credit to the sales price at closing
• Inspection period • Schedule all inspections and survey immediately with your agent’s help • Review HOA documents and review for potential assessments • Secure any approvals or permits • Due Diligence expiration is at 5 pm on the agreed-upon due diligence date: option to proceed to closing or cancel • Earnest money may become non-refundable
•S ubmit the repair request, however, repairs are optional to the seller
Our Offices HIGHLANDS-CASHIERS OFFICE 210 North 5th Street Highlands NC 28741 828.526.0000 ASHEVILLE OFFICE 18 S Pack Square Asheville, NC 28801 828.367.9001
C H A R LOT T E O F F I C E 1515 Mockingbird Lane, Suite 900 Charlotte, NC 28209 704.499.3054
W I L M I N GTO N O F F I C E 527 Causeway Drive Wrightsville Beach, NC 28480 910.300.5140 CORNELIUS OFFICE 21025 Catawba Avenue, Suite 101 Cornelius, NC 28031 704.655.0586 MOORESVILLE OFFICE 350 Morrison Plantation Parkway, Suite C1 Mooresville, NC 28117 704.209.5066
HighlandsCashiersCIRE.com