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Buying Your Home Through Richards Properties
One of the most important investments you will ever make is the purchase of a new home. Our expert team works with you to make the process seamless. In today’s challenging market, price, timing and location are everything. Whether you are looking to buy a new home, build your dream home on the perfect lot or purchase an investment property, Richards Properties has the expertise and resources to support your journey every step of the way.
At Richards Properties, we identify your needs based on your personal criteria. We ask lots of questions:
- Do you like a city or suburban lifestyle?
- Do you need to be close to work, the airport, transit, family, shopping, the lakes or your church?
- What are the driving factors for a new home?
- How important are schools to your decision?
- Do you want special community features like a pool, tennis courts, golf course or age-restricted living?
- What price range can you afford?
- Do you want a fixer upper or a ready to move in home?
- What is your time frame?
Once we know your needs we:
- Pre-qualify you for a loan with a mortgage broker
- Search for listings; in MLS and other internet sites utilizing our extensive database and personal relationships to source potential properties not on the market
- Contact brokers inquiring about upcoming listings fitting your criteria
- Enter your criteria into the MLS system which will forward you daily reports on listed homes
- Make appointments to view homes
- Analyze neighborhood and comps to determine fair market value of your home choice
- Negotiate an Offer. Send closing attorney required information
- Order inspections
- Negotiate repairs
- Review Buyer checkoff list before closing
- Close on property with appropriate documentation
Buying Your First Home: Closing Q & A
Q: How long will my closing take?
A: 30-60 minutes, depending on the circumstances
Q: Does my spouse need to be present at the closing?
A: North Carolina law states “one to buy and two to sell.” If you are a Buyer and title is vested in both spouse’s names, then both spouses must be present at closing (or a power of Attorney can be used). If there is no lender, then your spouse does not have to be present at closing.
Q: What do I need to bring to the closing?
A: The Buyer should bring driver’s license, proof of new homeowner’s insurance and closing funds in the form of a certified check or arrange to have funds wired.
Q: Who do I make the check out to and can I bring a personal check?
A: The NC State Bar requires certified funds for all transactions and the certified check should be made out to the closing attorney firm.
Q: What is a title insurance policy and why is it required?
A: A title insurance policy, ordered and researched by the attorney, insures both the Buyer and Buyer’s lender from any title defects or claims which may, or may not, be reviewed by an accurate title search. The title insurance company litigates claims on behalf of the Buyer and the Buyer’s lender
Q: Should I get a survey?
A: Attorneys recommend getting a survey to determine: the property boundaries, the size of the lot, the accuracy of the legal description and to verify that there are no encroachments or setback violations. Typically, it is not necessary to obtain a survey when purchasing a townhome or condominium.