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3 Questions New Home Buyers Need to Ask Before Purchasing Anything

FFR- Jan 19 Pic- Stuart MilesListing a home “as-is” in the Triangle real estate market is a move that definitely benefits the home seller. For buyers, this type of home means a lot of research is required in order to ensure that purchasing this particular property is a good investment. Enlisting the help of a Flat Fee Realty professional will make the opportunity easier to navigate, and we will assist with just the right questions to support a wise real estate decision.

The real estate experts at Flat Fee Realty advise Triangle home buyers to ask these three important questions when considering purchasing a home listed in “as-is” condition:

  • Who is the seller? This may seem redundant, but knowing who the seller is in the case of an “as-is” property is important. If the property was foreclosed on and a financial institution took over the resell, the bank might be unaware of the overall condition of the home, which may need repairs. If the current owner is selling, they may be unwilling or unable to make necessary repairs, so the negotiation process will be more challenging for both the buyer and the Flat Fee Realty agent.
  • What repairs are needed? Buyers are urged to use the due diligence period to their advantage. The listed “as-is” price may be intriguing, yet it’s crucial for buyers to be aware of any damage or problems that the property possesses so they can factor in the cost for repairs. Home inspections may cost some money upfront, but in the end the buyer benefits from knowing the property’s condition.
  • Will the seller negotiate? If inspections show that substantial work is required to make the home move-in ready, buyers should know their options for potential negotiation. The seller may indeed be incapable of making the repairs, so buyers will have to determine whether the investment is a good decision. However, if there’s room for negotiation, Flat Fee Realty in Morrisville will be able to provide guidance during the process.

Homes listed in “as-is” condition may seem like a risky investment, but armed with the right knowledge and resources, such as an agent from Flat Fee Realty, buyers will have the tools necessary to make sound decisions. Contact us today to obtain excellent counsel in the Triangle real estate market!

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only. Seek the guidance of an agent before purchasing a home.

The Future of Real Estate!

Flat Fee Realty Morrisvillle, NC

919 342 5230

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Terry@FlatFeeNC.com

Photo: Stuart Miles, FreedigitalPhotos

3 Myths Home Buyers in the Triangle Need to Know

dreamstime_xs_18817936The Triangle real estate market is in its summer season of growth. The market in the Raleigh, Cary, and Apex area is seeing lower interest rates and an increase in home values. Overall this means more competition among buyers and sellers alike; and with more competition, buyers should be educated and not make decisions based on common real estate myths.

Our real estate professionals at Flat Fee Realty shed some light on three common real estate myths that are associated with buying a home in the Triangle:

  • Down payments are the only upfront cost:  Unfortunately, this is just one of several costs that come with buying a home. Between home inspections, repairs, closing costs, and realtor commissions, buyers will do well to be prepared for financial surprises. This isn’t meant to scare potential buyers away. Proper planning and enlisting the help of a buyer’s agent will benefit those who are unfamiliar with the overall process.
  • Excellent credit gets the deal: Although a great credit score wouldn’t hurt, the reality is that most people are building credit for the first time or rebuilding after some mishaps. The housing market will not exclude those who have average or below average credit scores. Talking with a lender about your situation will show many options such as an ARM, an FHA or VA loan, or even a fixed-rate mortgage.
  • Lenders with the lowest interest rates are the best choice: When the Triangle market gets competitive, buyers tends to seek out lenders who offer the best interest rates. A few percentage points could mean the difference of several thousand dollars in mortgage interest over 30 years. However, the lender with the lowest rate might have poor reviews and client service. It is important to take the time to do research and find reputable lenders with a good history and background.

As 2016 heads more deeply into the 3rd Quarter, the Triangle housing market is sure to see some changes. Buyers and sellers must be prepared with the facts to ensure a smooth process and enjoyable buying experience. Contact our professional and friendly real estate agents at Flat Fee Realty to ensure you have the facts on your side!

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Photo: dreamstime, 18817936

This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

Find and like us on Facebook!

Contact Us

Terry@FlatFeeNC.com