BUYING A HOME
What You Need to Know
WORKING WITH A BUYER’S AGENT
Just like having a listing agent, the majority of buyers in our marketplace hire their own buyer’s agent to represent their best interests through the entire transaction Once you are represented, notify us when you would like to view a property in person or plan to attend an open house
We will assist you in assessing your goals, preparing the best offers, negotiating inspection concerns, coordinating communication between the lender, attorney and agent team, providing the best resources, and more
Q: What should I do first to get ready to buy a house?
A: Educate yourself! Attend one of our Home Buying Workshops, or meet one-on-one with a team member to go over the process, timeline, and requirements We will also connect you with a local, reputable lender to establish your budget and obtain a preapproval letter. This will put you in the best position to compete with other buyers in the market
Q: What else do I need?
A: Deposit Money! Have your deposit money ready to go and easy to access so you can move quickly when you find the right home. All offers and homes are different so we recommend you have anywhere from $1,000 - $20,000 readily available - your agent will help advise on amounts due to competition, condition of the home and other factors.
Q: Can I buy furniture for the house, have it painted or make changes before closing?
A: You should not make any major purchases (car, furniture, appliances, etc.) before closing on the home that could adversely affect your debt-toincome ratio. Also, changes to the home cannot be made until you own it, unless there are repairs negotiated during the due diligence & inspection process
Q: How long will it take to find a house?
A: That depends! You may find the perfect house on the first day or it could take months Depending on the market and your specific needs, our agents can help you determine the best time to start looking to meet your timeline.
A: Are there any big ticket items like structural concerns, plumbing or roofing leaks? Did you negotiate closing costs or money off purchase price before getting under contract? These factors can affect what you ask for in a due diligence request (if anything). Also, items that you can see before putting in a contract are typically not negotiable (damaged hardwood floors, dated tile or paint, or other cosmetic type issues) home inspection?
Q: If I follow your advice will everything go smoothly?
A: Not necessarily. Real estate transactions can experience a lot of ups and downs. Our team of agents, inspectors, contractors, lenders and
Q: I’ve been thinking about a property I saw last week and think I might want to make an offer on that home. Would you tell me if another offer comes in?
A: Waiting to put in an offer can put you at a disadvantage A seller can accept an offer at any time so the earlier you make a decision, the better Waiting could mean multiple offers on the table, increased purchase price, and less leverage as a buyer.
Q: Does a seller have to agree to repairs or monetary concessions after inspections?
A: Technically, no The NC Offer To Purchase states that the buyer is purchasing in “as-is” condition and a seller is not required to make additional concessions. However, most sellers will negotiate some, if not all, repair or concession requestsespecially if the items negotiated were unknown or large items that will become material facts if the
THINGS TO KNOW
A written pre-approval letter from a reputable lender is essential or proof of funds if paying cash
Down payments range from 0%-20% depending on the loan program.
An Offer to Purchase is a legal binding contract once both parties have signed - the details are important
Inclusions, exclusions, appliances, contract dates, closing cost credits and any contingencies should be thoroughly reviewed.
Document where your money comes from (large deposits, gift funds, closing costs)
Be aware that day-of-closing employment verification may occur
Do not change jobs during the loan process without consulting your loan officer. Do not transfer funds among accounts or deposit monies outside of your regular income during the loan process
Do not make large purchases, open new loans or lines of credit that may impact your debt to income ratio during the loan process.
THE VALUE OF WORKING WITH OUR TEAM
Finding the Right Lender:
Discovering the Perfect Home:
We’ll connect you with reputable lenders that we consider part of our team that communicates well, help secure the lowest rates and explores better loan options
We leverage comprehensive resources, including off-market properties, MLS listings, agent relationships, and upcoming “coming soon” homes Our app further enhances the search, keeping you ahead of the competition.
Connecting with Key Partners:
Crafting Winning Offers:
Our network includes top-notch lenders, home inspectors, contractors, and settlement attorneys, ensuring you have the best professionals supporting your journey
Once you find your ideal home, we meticulously construct a compelling offer strategy to negotiate the best terms depending on market analysis and seller priorities We ensure your offer stands out with a compelling presentation, highlights terms and will help guide the listing agent on how to effectively communicate the offer to the seller to secure the best outcome
During the Contract Period:
Reducing Closing Costs:
Resource Beyond Closing:
Enjoy first-class service with seamless transaction coordination. We handle scheduling of inspections, repair quotes, attorney closing, negotiate necessary repairs, and strive to win credits for you throughout the contract process With a team of agents, administrative support and transaction coordinator you always have someone ready to help
We assist in minimizing closing costs by negotiating with home service providers for title insurance and securing seller credits whenever possible
The Ashley Meredith Homes Team is ALWAYS a resource for you beyond closing Whether you need a vendor suggestion, market analysis of the current value of your home, suggestions for refinancing and beyond - we are here for you.
