Seller’s Property Disclosure, Pre-Paids, Title Insurance, Agency– what does it all mean??? If you’re planning to buy a home anytime soon, you need to know.  Here are some tips all Buyers should know before buying a home in Chapel Hill or Carrboro, Hillsborough, Durham, Pittsboro or surrounding areas.

While a good Buyers Agent will help you structure an offer that obtains the property at the lowest price, there still is not usually a lot of negotiation in our market when a property is properly priced, nor is there typically much if any negotiation with new construction unless the neighborood is overbuilt.  For those who have come from areas where Sellers may come off a price 10% or 20%, the dynamics here are much more rigid.  You should be prepared to negotiate terms and conditions that are mutually favorable to you and the Seller if you want to concentrate on getting the lowest price possilble.  Find out the Sellers’ time frame for moving, then devise dates that work for everyone.  Also, don’t “muddy” the contract with unneccesary conditions; include only the conditions that are requirements for purchasing the property.  Sellers like a “clean” contract, and the more they like about yours, the more you can push them on price.

If all this sounds confusing, let me offer one last piece of advice: Investigate and choose the best Buyers Agent you can find.  You need someone you can trust to represent you in your home purchase.  A good Buyer’s Agent:

  • works full-time
  • is aware of your needs and concerns
  • searches your area’s Multiple List daily for new listings that match your needs (ever wonder why those new listings you call about are already under contract?  Agents see new listings in the MLS before you can see them on realtor.com)
  • knows the best lenders with the latest financing options and rates
  • explains all aspects of the real estate transaction in plain terms so there are no surprises
  • makes sure you offer only what the house is worth, with terms that are favorable to you first and the seller second OR
  • informs you if the house is priced right so it doesn’t go to the next buyer because you expected unreasonable negotiation

To learn more about Buying a Home in the Triangle area, go to http://www.greattrianglehomes.com/buy_agency.html