Advice on Buying a Home

[booster11373]

So even though we both hate living in NC me and my wife think its best economically to purchase a house for the duration of our sentence. This will be the first time we are b
doing anything like this so I would like some hints, advice, warnings from those who have.

Information is power.

Is there etiquette when dealing with realtors are you only supposed to have one?

Any knowledge that you can impart will be welcomed

[EliSnow]

When buying you can have more than one broker. When my wife and I purchased our new home, we used only one broker, but that was due to timing more than anything else.

[Tenbatsuzen]

The good thing about NC is that the land, homes, and taxes are relatively much, much cheaper than the tri-state area.

How long are you going to be in NC for? See, my wife wants to buy a house, but right now, it's much more financially sensible for us to rent because of the taxes and everything in Jersey. We're playing "wait and see" with both the market and see if Corzine can do anything to reduce the property taxes like he promised.

[booster11373]

You are right about taxes and prices but remember its still NC

[drjoek]

So even though we both hate living in NC me and my wife think its best economically to purchase a house for the duration of our sentence. This will be the first time we are b
doing anything like this so I would like some hints, advice, warnings from those who have.

Information is power.

Is there etiquette when dealing with realtors are you only supposed to have one?

Any knowledge that you can impart will be welcomed

Realtors are Very territorrial and once you establish a relationship with one they won't want you to speak to another. Plus it is a very tight community so they all know each other. Remember the realtor is not actually YOUR realtor strange as it sounds. They get their commision from the seller. So be a little wary of everything they say. Once you but try not to let them talk you into rolling fees etc into your mortgage. It sounds like it will make things a little cheaper up front but the amount you pay back i interest is amazing. i also try to pay a little extra toward principle each month to buy down the nut its amazing how it shortens the loan. GOOD LUCK

[mendyweiss]

Realtors are Very territorrial and once you establish a relationship with one they won't want you to speak to another. Plus it is a very tight community so they all know each other. Remember the realtor is not actually YOUR realtor strange as it sounds. They get their commision from the seller. So be a little wary of everything they say. Once you but try not to let them talk you into rolling fees etc into your mortgage. It sounds like it will make things a little cheaper up front but the amount you pay back i interest is amazing. i also try to pay a little extra toward principle each month to buy down the nut its amazing how it shortens the loan. GOOD LUCK

Yea, what he said

[Justice4all]

What drjoek said is a little correct, if you roll the fees into the mortgage you will be paying more overall with the interest. BUT....if you are a little cash strapped and find yourself having only enough for either the down payment, or the closing costs for a mortgage you might want to consider the option that the seller pays the closing cost. That is called a 'sellers consession'.

Also, do not just limit yourself to a realtor. Before you go to the agency look on www.forsalebyowner.com
or google the for sale by owner websites. There are many people who are selling their house on their own to avoid having to pay the realtors fees.

I have alot more advice to offer. I am doing my brothers mortgage in NC. (He lives in Rahleigh) . Feel free to PM me or Email me with anything you might need help with. I would be happy to assist.


And when looking for a house, make sure you tell the realtor exactly what you need or what you are looking for. Do not let them try to 'bump you up' to a bigger home if you do not need it.

How long are you planning on stayingin NC?
Buying a home is always a wise investment, provided you do everything right.


Good luck.