There are a significant number of professionals who fall under the umbrella of the real estate industry. If you are selling your house in Raleigh house you’ll likely work with a few of the following people.
In real estate transactions, transferring ownership of the property, or the right to own and use the property, is completed at closing. This occurs when the ‘paperwork’ is complete. While some states use ‘ Title companies’, in North Carolina we use attorneys to do the title work. Basically when this means is the attorneys make sure that there is no other owner of the property (common with inherited properties or divorce). The attorney also holds the money from the purchase price and uses it to pay off the existed mortgages, liens, or judgments and disperses the funds after all the steps are complete.
Should there be a lien, the attorney will handle the issue on your behalf. Mortgage lenders require this service, ensuring no legal entanglements arise with the property. By resolving legal issues before the sale, the transaction can flow smoothly for the seller, saving valuable time by avoiding delays. After clearing the title, they can then issue title insurance for the buyer and the seller. Title insurance acts as a warranty on the title against any financial loss, should any problem ever arise in the future. The security this offers allows both parties to move on with confidence in the transfer of title.
When selling a home in Raleigh the inspection can be the most challenging part of the process. Having a stranger come into your home to poke and prod every nook and cranny is invasive, to say the least. Then you have to deal with the inspection report which is a list of items, many of them trivial, that need to be fixed or inspected by a different specialist. Many times a mortgage lender will deny a loan because of a particular inspection item. For example, an HVAC unit that is not functioning, a bad roof, or an item that makes the home unsafe.
Another avenue many sellers agree to in the sales contract is allowing the buyers to use the estimated amount of any repairs to lower their offer. Regrettably, some buyers may simply walk away from the deal upon hearing bad news from the inspection. For this reason, many homeowners have a pre-inspection to ensure a smooth and speedy closing. Keep in mind the laws regarding full disclosure in real estate transactions.
Determining the market value or the amount the home would sell for on the current real estate market is essential in determining the sales price when you’re selling your house in Raleigh. Appraisers will physically visit the subject property, reviewing the interior thoroughly not only for data such as the number of bedrooms and the like, but also the condition of the property, outdated appliances and the like, functionality of the layout, and any apparent issues. They’re also intimately familiar with Raleigh and exterior influences that may hinder the property’s full enjoyment, such as less than pleasant odors from industrial areas nearby. Their ability to analyze all of the influential factors involved in this determination makes appraisers extremely valuable in managing the risks on loans made by lenders or other parties with financial interests. Usually required on behalf of the lender to ensure the loan to value ratio falls into a low-risk percentage, usually lending up to 80% of the appraised value without requiring PIP or private mortgage insurance.
Real Estate Agents
Chances are when considering which method to use to sell your house in Raleigh, listing with a local and trustworthy real estate agent is likely the first thought that comes to mind. Put off by the process of showings; sellers are often hesitant to list their property. For some, the idea of strangers intruding into their home, virtually or in person, makes them uncomfortable. Others would prefer not to risk their health with potential exposure during the pandemic. While many buyers can afford the inevitable time involved with prepping their home to be listed, possibly remodeling or making repairs to the house, others may not have the time or the funds to do so. Last but most certainly not least, many sellers try to avoid high real estate agent commissions paid by listing their home on their own. For inexperienced sellers, this often ends in financial disaster.
Professional Home Buyers
Did you know there is another alternative to sell your home? Out of all people you’ll likely work with selling your house in Raleigh, professional home buyers can help you handle all of your problems! Once you agree to a fair cash offer, and Wake County Home Buyers won’t charge any hidden fees or commissions. Wake County Home Buyers handles everything, with no inspection or repairs and no waiting, usually closing within 30 days or less. We make the process easy! Ready to learn more? Send us a message or call Wake County Home Buyers at (919) 473-6885 today!