Raleigh Area Home Buyers FAQ's

Answering Your Raleigh Area Home Buying Questions

Buying a Raleigh Area home is both thrilling and a bit unnerving, especially if you're a first-time home buyer. Both experienced home buyers and first-time buyers alike will benefit from the frequently asked questions below. Before you begin your Raleigh Area home search, it is recommended that you prepare yourself for the journey by educating yourself. This will ensure you are a knowledgeable home buyer prepared to make a confident home buying decision.

Q - I've never purchased a home before.  Where should I begin?
A - Actually, you've already started the process. Fact-finding and reading articles is a great way to become a smart consumer. The highest priorities to focus on before you begin searching for specific areas, neighborhoods, or homes would be to:

• Familiarize yourself with your personal finances.
• Learn about the Raleigh Area real estate market.
• Carefully review your budget and begin to eliminate as much debt as possible.
• Have a down payment and earnest money ready when the time comes to act and make your offer.

Your next step is to contact us. As your home buying specialists, we'll protect your interest and manage the details of the real estate transaction on your behalf to your complete satisfaction.  For more experienced buyers, a little brush up on the real estate process wouldn't be a bad idea. Of course, you'll need a really sharp Raleigh Area real estate team to protect your interests too!

Q - What is the "due diligence period" in North Carolina?
A - North Carolina uses a due diligence period in its home purchase contracts. During this time, buyers can conduct inspections, review documents, and confirm financing before closing. If the buyer cancels during this period, the due diligence fee is typically non-refundable but gives the right to investigate the property fully before moving forward.

Q - What are closing costs and who pays them?
A - Closing costs include lender fees, attorney fees, title insurance, taxes, and other expenses associated with finalizing the home purchase. Both buyers and sellers have closing costs, though which fees each party pays can vary depending on the contract. Your agent will review these details before you make an offer so you know what to expect.

Q - How much money do I need for a down payment?
A - Down payment amounts vary by loan type. Some conventional loans require as little as 3 to 5 percent, while VA and USDA loans may allow zero down for qualified buyers. A larger down payment can lower your monthly payment and remove the need for mortgage insurance. Your agent and lender can help you decide what works best for your situation.

Q - Why is a home inspection important?
A - A home inspection helps identify potential issues with the property before you close. A licensed inspector evaluates the home's structure, systems, and overall condition. The report allows you to make informed decisions about repairs, renegotiation, or whether to proceed with the purchase.

Q - What is the difference between pre-qualification and pre-approval?
A - Pre-qualification is an initial estimate of what you might be able to borrow based on basic financial information. Pre-approval is a more detailed review that includes documentation and a credit check. Sellers view pre-approval as stronger because it shows that a lender has verified your ability to purchase.

Q - What are property taxes like in this area?
A - In the Cary and greater Triangle area, property taxes are based on the assessed value of your home and the tax rate for your county and municipality. These taxes help fund local schools, parks, and community services. Your agent can provide current local rates and explain how taxes may affect your overall budget.

Q - Do I need a real estate agent when buying a new construction home?
A - Builders usually have their own sales representatives who look out for the builder's interests. Having your own buyer's agent ensures you have someone representing your best interests during contract review, inspections, and negotiations, typically at no cost to you.

Q - What happens on closing day?
A - On closing day, you will review and sign final documents, your lender will fund the loan, and ownership will officially transfer to you. Once the documents are recorded with the county, you will receive the keys and can take possession of your new home.

Q - How does Linda Trevor & Co. help buyers during the process?
A - Our team guides you from start to finish. We help you understand the market, find homes that match your goals, negotiate on your behalf, and coordinate every detail through closing. We also stay in touch after you move in, offering resources for maintenance, resale, and community updates.

Let's Get Started!

Are you ready to schedule your home buying consultation?  If so, contact us today and together we will review your needs and your budget to help you find the right Raleigh Area home for you!