Buying & Selling

Buying:

I've never bought a home before. Where do I begin?

We love to work with first-time home buyers! It's an exciting yet nerve-wracking time, so we make the process simple, so your experience is as stress-free and enjoyable as possible. We have a few resources for you to check out: First Time Raleigh Home Buyer: Tips & Tricks, How to buy a home in Raleigh, NC.

How long does it take to buy a home?

There are a lot of factors determining how long your home buying process will be. The part that is out of your control, and ours, is the market conditions. In a hot market like the Triangle's, homes sell quickly, and inventory is on the lower end, which means it takes a little more patience at times. On average, from the time a buyer starts their search to the escrow period, it's between 10 and 12 weeks. The escrow is between 30 and 45 days long. The best way to combat this is to be well prepared, have financing ready, and be prepared to make educated but fast decisions.

How much will I have to pay Acorn Real Estate Co. to represent me as my agent?

The short answer here is zero. When you purchase a home, the agent gets commissioned through the home seller. The commission from the sale is split between the buyer and seller's agent, so (you) don't pay a dime for the service as a buyer.

Should I have a hefty down payment saved before looking for a home?

The nationwide average for a down payment is 11%. While many lenders and articles you read will recommend a down payment of 20-30%, there are several reasons why this may not be feasible or even needed. A sizeable down payment isn't required for first-time homebuyers who utilize an FHA loan. This also holds true with certain military and veteran home loans as well. We encourage all prospective buyers to first talk to a lender to see where their finances stand and better understand their home buying budget.

Is earnest money the same as due diligence?

This is a common question and misconception - though we understand how confusing it can be. When you make an offer on a home in North Carolina, your offer is typically accompanied by earnest money. Earnest money is a small amount of money, which is an upfront cost of the buyer, that lets the seller know they are serious about their offer. It's looked at as a way to reserve a home with your offer. The amount can be as little as 1%, but in more serious bidding situations can be up to 50% of the home's asking price. The earnest money is kept in escrow and is only kept if the deal goes through. Due Diligence is a non-refundable and negotiated amount between the buyer and seller paid directly to the seller. Both monies are credited towards the purchasing price. We have a blog post here if you want a more in-depth breakdown of these fees.

Does Acorn Real Estate Co. help with inspections?

While home inspections are mandatory for many home loans, we always recommend them regardless. We would never want you to buy into a property without fully understanding the home's condition. In addition, home inspections can bring a lot of peace of mind, and we can help connect you with a list of our trusted inspectors if need be.

The market seems intimidating right now. Is it still possible to buy a home?

We know the surge of buyers and interest rates can make buying in this economy challenging. But we also know the ins and outs of the Triangle market and have been helping buyers and sellers reach their goals and protect their interests in this hot market for the last decade. We take pride in being the premier Triangle real estate consulting agency, where we believe in adaptability and staying a step ahead of the market. And we are always up for a challenge!

Selling:

I've never sold a home before. Where do I begin?

Selling a home is a big decision, and we are here to walk you through the process. Between getting your home ready for market and closing, there is a lot to be done, but that's why you have us, the experts. Learn a little more about our process here: First Time Home Seller: Tips & Tricks, How to sell a home in Raleigh, NC

Do I need to fix up my home before finding an agent to sell my home?

We love to start with a consultation first! If you have big-ticket items you already planned on doing - like replacing the roof, windows, or flooring, this is better to get started earlier than later. But with less cumbersome preparations, like painting and staging, we encourage you to wait until we've seen the house and can talk through a strategy.

How long will it take to sell my property?

Everyone loves a predictable timeline, and with real estate, this can be a challenge to nail down. However, with our expertise in buying and selling, and knowledge of the market in different price points and areas, we have a pretty strong idea of averages and expectations. There are a lot of variables and moving parts in real estate that affect how long it takes for a property to sell, so if you have questions about your property, we encourage you to reach out and schedule a seller's consultation.

Ready To Sell?