Frequently Asked Questions – Buyers

1. Do I need to be pre-approved before looking at homes?

Yes. A pre-approval shows sellers you’re serious and lets you know your true budget. It also helps us move quickly if you find the right property.

2. What’s the difference between pre-qualification and pre-approval?

  • Pre-qualification: A quick estimate of what you might afford.

  • Pre-approval: A lender reviews your credit, income, and assets and gives you a firm number. Sellers take pre-approvals much more seriously.

3. How much do I need for a down payment?

It depends on your loan type:

  • Conventional: As low as 3–5%

  • FHA: 3.5%

  • VA/USDA: 0% for qualified buyers

    We’ll connect you with lenders who can walk you through the best fit.

4. What other costs should I expect when buying a home?

  • Earnest money deposit

  • Due diligence fee (in NC)

  • Closing costs (usually 2–3% of purchase price)

  • Inspections, appraisal, and sometimes HOA transfer fees

5. How long does the home buying process take?

From offer to close, most transactions take 30–45 days, depending on financing and inspections.

6. Do I need a real estate agent if I found a home online?

Yes. Having a buyer’s agent ensures you’re protected and represented. The listing agent works for the seller. We work for you, negotiate on your behalf, and guide you through inspections, contracts, and closing.

7. How much does it cost to use a buyer’s agent?

In most cases, nothing—the seller pays the commission. You get expert representation at no direct cost.

8. What inspections should I get?

At minimum: home inspection and pest inspection. Depending on the property, you may also want:

  • Radon

  • Septic

  • Well water

  • Chimney

  • Survey

9. Can I ask the seller to make repairs?

Yes. After inspections, you can request repairs or credits. The seller can agree, counter, or decline, and we’ll negotiate from there.

10. What happens if the appraisal comes in low?

We’ll explore options such as:

  • Renegotiating the price

  • Bringing additional cash to closing

  • Challenging the appraisal

    Our job is to protect your interests.

11. How much should I offer on a house?

It depends on the market. We’ll review comparable sales, days on market, and the property’s condition to recommend a competitive but smart offer.

12. What’s due diligence money in North Carolina?

It’s a non-refundable fee paid directly to the seller when your offer is accepted. It shows commitment and gives you the exclusive right to purchase while you do inspections and secure financing. If you close, it’s credited back at closing.

13. What if I need to sell my home before I buy?

We’ll structure contingencies so you’re protected, or explore bridge loans and creative solutions to make your purchase work smoothly.

14. Can I back out if I change my mind?

In NC, you can cancel during the due diligence period for any reason, though you may lose your due diligence money. After due diligence ends, backing out could also risk your earnest money.

15. What happens on closing day?

You’ll sign loan and closing documents (usually at an attorney’s office in NC), funds are transferred, and you get the keys once the deed is recorded.