5 Frequently Asked Real Estate Questions for Home Buyers
Whether you are looking for your first home or an investment property, it might be difficult to figure out where to start. The process of buying a home is daunting; that’s why real estate professionals are here to help. Our knowledgeable agents at Bluewater are experts on the Crystal Coast real estate market and will share everything you need to know about the buying process. We know you have questions, so here are a few frequently asked real estate questions and answers to get you started:
1. What is the First Step in the Home Buying Process?
So you want to buy a home on North Carolina’s Crystal Coast but don’t know where to start? Well, begin by contacting a local mortgage lender to find out your loan options. Your financial history and overall credit score will help you determine your mortgage budget and price range for your home.
2. When is the Best Time to Buy a Home?
One of the most challenging aspects of real estate is that it’s constantly changing. That’s why our experienced real estate agents offer a free property analysis for homebuyers within the Crystal Coast sales market. Learn about rental projections and stay up to date on the newest properties for sale so we can help you determine the best time for you to buy a home.
3. What Should I Know About Coastal Real Estate?
Buying property on the Crystal Coast presents unique challenges for buyers. When buying oceanfront real estate, or any waterfront property, you should be aware of the possible risks here on the coast. Another challenge you should be aware of is wind damage caused by coastal storms and the Beach Plan policy coverage. Anyone looking to buy a waterfront home should research how North Carolina insurance companies cover these specific coastal hazards.
4. Should I Order a Home Inspection?
The short answer is yes. After you have found a property you are interested in purchasing, you should schedule a home inspection. An inspector will evaluate the home’s plumbing, roofing, electrical, and foundation to ensure everything is up to the state’s requirements. Home inspections save you time, money, and prevent those headaches that come with repairs. Read detailed information about home inspections on our website.
5. What is an Earnest Money Deposit?
An earnest money deposit also referred to as the “good faith deposit,” is money a buyer gives to the seller to show they are serious about purchasing. This deposit is usually a small percentage of the purchase price and is held in an escrow account until the deal is complete. Next, the money from the account will be used toward a down payment, and you are one step closer to being a homeowner! Contracts now have a due diligence fee that buyers give to the seller in order to do their inspections, get their loan approved and any other items they need to research. That non-refundable fee is kept by the seller and credited to the buyer at closing.
Learn More About Crystal Coast Real Estate with Bluewater
Read more information about Crystal Coast real estate questions or browse our current real estate listings at Bluewater. Our team is happy to help home buyers navigate the local real estate market every step of the way. Please contact one of our agents and discover why Bluewater has been the number one real estate company along the Crystal Coast for 15 years!
Do you have a specific question about buying real estate on the Crystal Coast that we didn’t cover in today’s “Frequently Asked Real Estate Questions” article? Leave a comment below, and we’d be happy to answer it for you!