Benefits of Using a Buyer’s Agent
• Research and Expertise:
• Research areas and share expertise
• Furnish real-time market data, showing trends and competitive activity
• Property Search and Selection:
• Preview homes
• Locate appropriate properties
• Advise on properties the buyer may not have noticed
• Furnish private/pocket listings as options
• Advise on appreciation potential and historic property track record
• Recommend emerging areas the buyer may not have considered
• Guidance and Negotiation:
• Act as a tour guide for the entire area the buyer is considering
• Advise on proper amounts for due diligence/earnest money and terms
• Structure contracts
• Arrange multiple inspections, appraisals, verify permits, and representations
• Interface with local governance on property compliance and modifications
• Concierge Resources and Services:
• Identify quality contractors, interior designers, and vendors
• Furnish vendor lists of professional trades
• Furnish professional services relationships with attorneys, financial advisors, CPAs, insurance, and banking
• Lifestyle and Daily Needs:
• Aggregate school, lifestyle, dining, lodging, and buyer needs information
• Assist with day-to-day lifestyle needs, such as doctors, hair and nail salons, clothing stylists, nannies, elder care, etc
• Recommend community and special interest spaces such as equestrian, boating, golf, shooting, etc
Buying a Home in North Carolina
• Research areas you are targeting online
• Select an agent with experience in those areas
• Identify homes you’d like to see. Your agent can set you up with a search
• If your agent has a buyer’s home search app, download that to your phone
• Be prepared to visit new homes immediately as they come on the market
• Consider FaceTime tours for quick access, but understand due diligence fees are upfront and non-refundable once an offer is signed
• Line up financial resources & documentation to move quickly
Multiple Offers
• Go the extra step to get pre-approved, not just pre-qualified. Have your pre-qualification letter, cash or cash equivalents such as Ribbon, or a letter from a licensed financial advisor available for cash transactions.
• Confirm with the listing agent that there are multiple offers in hand
• Ways to differentiate your offer
• Cash
• Quick Closing Time Frame
• Rent Back Option for Seller
• Short Due Diligence Period
• Waive Inspections
• Appraisal Waiver
• High Due Diligence Fee
• Quick wire/deposit option
• Can be split into two payments to “buy” days to inspect
• Be careful starting low, this can alienate a seller who gets another offer
• If you are the first offer in, confirm whether the list agent will call for highest and best if multiple offers received
• A seller does not have to:
• Allow a second chance on an offer or call for “highest and best”
• Disclose that there is a second offer
• If you “win,” Due Diligence fees will likely be due immediately upon acceptance
Offered, Signed, and Accepted
• Review terms of the offer to purchase disclosures, particularly fixtures section
Fees Due: Credited to Sales Price
• Due Diligence
• Non-refundable to seller
• Earnest Money
• Can be deposited at contract or another date
• Refundable up to the end of Due Diligence Inspection Period
