Finding the right Realtor is the first step in finding the right property. As the purchase of real estate becomes increasingly complex, you should insist on accurate facts and informed advice. Realtors are professionals with up-to-date training and thorough knowledge of market trends. They should be able to answer all your questions and help you compare your options. Here are some common questions your Buyer's Agent can address...
How much can I afford? Your Realtor will help you get pre-qualified by a local lender so you know ahead of time which price range to consider. This also puts you in a stronger position when you submit your Offer to Purchase, as the Seller knows that you are a qualified buyer and that loan approval is not a worry.
How do I choose the property that is best for my family and me? Your Realtor will listen to your needs and concerns and arrange for you to see all properties that may be a good match. By working with one Realtor, regardless of the listing company, you will have the freedom to openly compare and evaluate each property. In comparison if you had a different Realtor show you each property, you would find yourself in a tug of war with each Realtor trying to convince you whytheir listing was the best for you and your family.
Which home has the best rental history? If you are looking for a vacation rental home, income is a key consideration. Your Realtor will obtain for you accurate rental history and projections and make suggestions as to how you may be able to increase the rental income. It is very important to have accurate and complete income and expense information. If the property is new to a rental program, we will request income projections from several property management firms. Additionally, we encourage you to meet these property managers as establishing a good rapport is essential to maximizing your income potential. The good news is that Coastal Outer Banks Realty focuses solely on real estate sales, so we have only your best interest at heart! How can I negotiate the best possible price and terms? Your Realtor's knowledge of the local market is a key factor in negotiation. Your negotiating approach will depend on such factors as the condition of the home, whether it is priced too high for the market or whether it is the "deal of the century". An important factor to always remember, when it comes to investment property, think with your head, not your heart. As the old saying goes "your heart costs you money and your head saves it"!
What repairs are the Seller's responsibility? As part of due diligence, your Realtor is likely to recommend a detailed home inspection which will outline a list of items needing immediate attention as well as suggestions for future maintenance. The seller is under no obligation to make these repairs, but may do so as part of the negotiation. Thus it is critical to work closely with your Realtor so that they can negotiate with the sellers agent in terms of who should do the work, how much it will cost, and then ensure the work is completed prior to closing (or arrange for funds to be escrowed).
Which insurance plan is best suited to my chosen property? Insuring coastal property is often a complex task. Thus, your Realtor will recommend a local insurance agent who understands these complexities and can recommend coverage that is right for you. As always, your Realtor will be involved in this process to ensure that you have coverage in place prior to closing.
Coastal Outer Banks Realty offers you the security of Buyer Representation at no additional cost to you. This means your agent works for you and your best interests doing everything necessary to find the right property for you at the best possible price and terms.