The Process

 
 
 

Are you ready?

In order to get a loan, you will likely need a stable job, unless you are paying cash. Have you contacted a lender about your pre-approval amount to purchase a home? I recommend a mortgage broker (more options) over a bank (less options). Do you have money saved up for the Home Inspection and Earnest Money (deposit toward closing costs)?

 

$$ Due Diligence and Earnest Money - #s on the Offer to Purchase and Contract paperwork

$ Home Inspection - to find out all maintenance issues.

Communication with a lender - start on the list of info they need

 

what is most important to you?

Long range views or a garage? Office or fire place? High Speed internet or more land? Fenced-in yard or more parking? How far are you willing to drive to get the ‘must-haves’ that meet your budget? With real estate in the Asheville area, you will usually need to compromise in one of the areas that matter to you. I recommend making a ‘Pros and Cons’ list at showings.

 

Convenient to what attractions? - grocery store, airport, waterfall.

Check the subdivision Restrictions - no chickens , HOA dues

Is the home Efficient? Heating system, drafty windows, insulation

 

agents and commission

If you see a property listed for sale (on the MLS/ realtor.com) then the commission % has already been decided by the seller. The seller pays the commission for the buyer’s agent, not the buyer. It is in your best interest to have your own agent representing your interests during the transaction. A listing agent is representing the seller first. If there is only one agent (dual agency) for both sides of the transaction, then that 1 agent gets both sides of the commission. Agent Ethics to their client:

 

Fiduciary Duty: Relationship of Trust. Obligated to act in the client’s best interests, placing the other’s interests before any self-interest.

Truth and Loyalty. Provide all the information, especially the information that matters to you, so that you can make the best, informed decision.