Who To Hire When Buying A House In NC?
There are a number of services and professionals that you can hire when you go to buy a house. Sometimes you don’t need any of them, if you have the nerve and the circumstances are right, a buyer and seller could do it themselves. Those circumstances are rare and come with inherent risks. Most home buyers in North Carolina will use these four professionals when purchasing a home. Regardless of who you use you will need to write some checks when buying a new house.
Unless you are paying cash for the house, the first person you’ll need to hire is a mortgage professional or loan officer, this can be someone associated with a large bank a credit union or an independent mortgage company. The mortgage professional will guide you through that process. They will run your credit reports and ask you basic questions to get started like, how much money do you make, how long have you been employed etc. Once the process begins in earnest they will need the following.
- Most recent pay stubs (2)
- Last 2 years W-2’s
- All the pages from your most recent bank statements.
- Name and phone number of human resources contact to verify employment.
They may require additional information so it’s a good idea to have all your financial paperwork in order to begin with. This is where you will learn what your closing costs will be and the interest rate for the mortgage. To start looking at houses you will need a pre- approval letter from the mortgage person.
Real Estate Agent
Once you have been pre approved for your mortgage and you know how much you can afford, it’s time to start looking at houses. This is where a real estate agent comes in, they have access to homes that are for sale, they should be knowledgeable of the area and be able to provide market reports on homes that have sold to determine the correct purchase price. In North Carolina it is common for the listing company to split the commission with the buyers agent so essentially the seller is paying the buyers agent. It is not always the case so ask how your agent expects to be paid.
Once you have agreed on a purchase price and you sign the contract, you will need to hire a home inspector to make sure the home is in good shape. Even if the house you are buying is new you should have a home inspection done. A home inspector will go through the house you are buying and inspect and examine the main components of the house. It is typical for an inspection to include the following…
- Heating and Air
- Insulation and Ventilation
Real Estate Attorney
In North Carolina we use a closing attorney to do settlements on real estate transactions. The attorney you hire will prepare the closing documents, perform a title search to make sure there are no liens on the property and disperse the funds to the different parties. The attorney will coordinate with the mortgage broker, both real estate agents and the buyer and seller, the settlement date is usually chosen based on how long it takes to process the loan. At the closing the attorney will have all the forms you need to sign and explain what your responsibilities are after you buy the house.
Professional Services Used When Buying A Home In North Carolina
These are four professionals you will need to hire to purchase a home in North Carolina. There are other professionals that may or may not be required. It will depend on the type of house you are buying and where it is located. Here are some other folks that you could hire to help in the purchase of your new home.
- Insurance Agent
- Septic Inspection
- Termite Inspection
- Radon Inspection
- Moving Company
Have a question about who you should hire when buying a home in Clayton, NC email David at email@example.com