To get to the bottom of the most frequently asked questions Johnston County home buyers ask, we polled our team of amazing buyer’s agents here at Jaclyn Smith Properties Here’s what they had to say.
Top Question Buyers Asked Katie Wright
How much does it cost to use a buyer’s agent?
Katie Wright – REALTOR® – BUYER SPECIALIST
In North Carolina (like most states), home sellers “typically” pay the buyer agent side of the commission. Builders who sell their new home inventory pay a percentage of the commission to a buyer’s agent too. In rare circumstances, buyers have paid the buyer agent commission but again, it’s rare.
Top Question Buyers Asked Kim Willis
Why can’t I just use the agent who is selling the home to buy it?
Kim Willis – REALTOR® – BUYER SPECIALIST
There is an old bible verse that comes to mind when I hear this question. It goes like this… “No man can serve two masters.” The listing agent represents the home seller and their best interests. You, the buyer need that same representation. Someone who will look out for you and your best interests.
There are some exceptions to both the buyer and the seller using the same agent. It’s our recommendation every buyer should have an agent.
This subject is called the law on agency relationships. Your buyer’s agent will take time to thoroughly explain all aspects of agency relationships and how they work.
Top Question Buyers Asked Sarah Morris
I just want to look at homes. Why do I need an agent to do that?
Sarah Morris REALTOR® – BUYER SPECIALIST
Sure, you can look at homes all you want. If you are really serious about buying a home you are going to need a buyer’s agent. Here are a few reasons why:
- A buyer’s agent will help you avoid some pitfalls (like looking at homes in the path of the new I-540 extension into Johnston County).
- A buyer’s agent will help you determine if a home has an easement or any encumbrances.
- A buyer’s agent will help you determine if you can build a pool or a fence in a new home community.
- A buyer’s agent will help guide you through the new home buying process that has well over 200 checkpoints along the journey.
- A buyer’s agent often knows about homes before they hit the market. That can make a great deal of difference in our current market with the low inventory of homes we are experiencing.
- A buyer’s agent is well connected and they can point you to all kinds of resources to help you with your home buying needs.
Top Question Buyers Asked Julie Jordan
I have a home to sell before I can buy a new home. Will a new home builder accept my “contingent offer” based on the need for me to sell my current home?
Julie Jordan – REALTOR® – BUYER SPECIALIST
It depends. Some Johnston County new home builders work with contingencies. Some don’t. It never hurts to ask!
Think about it from the new home builder’s perspective. If the home you have to sell meets certain criteria, the builder might be open to accepting your contingent offer. Here are some of those considerations:
- Is the home to be sold in “move-in” ready condition (thus making it more marketable).
- Is the home to be sold in a desirable price point?
- Is the home to be sold in a highly desirable neighborhood?
- Is the home already on the market and offers are coming soon?
- Is the home already “under contract” and the pre-approved buyer is simply waiting for the transaction to close?
Top Question Buyers Asked Sabrina Davis
Do I need to get a home inspection to buy a (new or existing) home?
Sabrina Davis REALTOR® – BUYER SPECIALIST
Yes, it is always recommended you get a home inspection. If you pay someone to conduct an inspection the inspector must be licensed. You can visit this website to see a list of licensed home inspectors in North Carolina.
Top Question Buyers Asked Mike DeFuria
How quickly can we close?
Mike DeFuria REALTOR® – BUYER SPECIALIST
It depends. Are you paying cash for a home? I’ve seen cash purchased homes close in as little as 2 weeks.
When traditional financing (FHA, USDA, or Conventional loans) is used it can take between 30-60 days to close on a home. That gives you time to conduct your due diligence, have a home inspection performed, and time for the lender to process your loan.
Top Question Buyers Asked Victoria Luckenbill
Is the price negotiable?
Victoria Luckenbill REALTOR® – BUYER SPECIALIST
In real estate, everything is negotiable. Whether a seller is willing to negotiate on price and terms is a completely different story.
The price the seller “lists” a home for sale is based on the listing agent conducting a “CMA”. That’s short for Comparative Market Analysis. Without going in-depth, a CMA compares the home to be sold against homes that have previously sold in the last 6 months in the same area (neighborhood) with similar features and similar size homes.
When it comes to negotiating the sales price of a new home for sale in Johnston County, home builders rarely discount the price. It helps support what previous buyers paid for a home in terms of the comps in the neighborhood. That way homes sold may appraise for loans by future buyers.
Top Question Buyers Asked Terra Hix
Should we look for houses before we call the lender?
Terra Hix REALTOR – BUYER SPECIALIST
While it’s okay to look at homes “online”, how do you know what price homes you should get serious (and excited) about buying?
It’s always a smart move to speak with a lender first before you go touring homes. It’s an uncomfortable conversation to have with a buyer who has started touring homes to learn they don’t qualify to buy the homes they have already toured. Know before you go!
It’s even more important in our current pandemic to be pre-qualified before you begin touring homes.
Top Question Buyers Asked Sydney Smith
Is a survey required to buy a new or an existing home? Do you recommend it?
Sydney Smith – REALTOR® – TEAM LEADER
On rare occasions, some lenders might require a survey but most don’t.
Yes!! I always recommend getting a survey so you can determine exactly where your property lines are and if you have any easements or encroachments on your property. It’s a smart purchase you will appreciate long after you have closed on your new home.
It’s Your Turn!
What’s your burning question? Leave us a comment or if you prefer, text us or give us a call at (919) 813-0123.