Home Buying Timeline for First-Time Buyers | Moss Realty

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Benefits of Real Estate Listing

The primary aim of placing your property on the market is to sell it at a high price as fast as possible. To help you achieve this goal, a real estate agent or broker can provide their services and guide you throughout the process.

While you can sell your house yourself, there are many advantages to letting a realtor take charge of your sale. Opting for real estate listings is better than selling your property alone, as agents can provide the following benefits for you:

Realtors Can Sell Your Property Through Marketing

Your realtor or agent will handle most aspects of your sale, including marketing your property. To do this, they’ll collect all the essential details such as your property’s square footage, number of units, and available amenities. Designing ads to promote your listing is also a part of your realtor’s marketing tasks, requiring them to obtain and use images of your property’s interior and exterior.

Realtors Price Your Property Accurately

Their experience within and knowledge of the market gives realtors a solid grasp on how to put the right price on your property. The best rate will entice buyers, allowing you to sell at the highest price possible within a short amount of time.

Realtors Can Promote Through Their Network

You can use your realtor’s network to expand your listing’s reach. For example, your agent can send a mass email to their connections, which can help you find prospective buyers for your property.

Realtors Serve as Middle Men

Among their many roles, your realtor or agent also serves as a mediator between you and a prospective buyer. The core part of this duty includes coordinating and negotiating with a buyer or their agent about the price, showings, documents, and inspections. Having a knowledgeable middleman during real estate listings will make your life easier.

Realtors Can Host Open Houses or Showings

Scheduling open houses and showings give prospective buyers a closer look at your property. Your realtor or agent conducts these activities, and their proficiency in hosting your buyers can lead to a successful sale.

Realtors Can Get Genuine Feedback From Potential Buyers

A buyer will likely say their true feelings about your home to your realtor or agent. In turn, you and your realtor can use these opinions to adjust your listing and improve it to address criticisms.

Realtors With a Niche Deliver Better Results

Hire a realtor who specializes in particular listings to get optimal results for your sale. Some real estate agents focus on single-family homes, multi-family units, condominiums, commercial buildings, and historic houses.

If you need help with real estate listings, always work with trusted agents in Gastonia. Reach out to Moss Realty today and let us help you manage your property. Whether you’re selling or buying a home, we’ll ensure that the entire process goes smoothly from start to finish. If you want to learn more about what we can offer, check our resources page for more information.

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Mistakes To Avoid When Selling Your Property

The real estate market is a tricky place to navigate. The buying and selling scene is often a bustling field with constant bidding wars, negotiations, and soaring prices. If you’re planning to put a piece of realty on sale, knowing what to expect, both good and bad, can make the process easier for you.

This guide lists down the things you should avoid when selling your property. Additionally, if you want to ensure a streamlined transaction, it’s always a smart move to have a competent real estate agent in your corner.

Overpricing Your Listing

Right from the start, ensure that your agent is upfront about your property’s value, as overpricing your property can put off many potential buyers. Keep in mind that market interest in new listings peaks after a certain period. Once your realty’s passed over for being too expensive, you may find difficulty selling it even if you eventually lower your asking price.

Waiting To Sell Property

While sellers find the most real estate success during springtime and early fall, you shouldn’t have to wait for said seasons before placing your listing on the market. Any month is an ideal time to sell homes, even August and December, which are the periods that see the least amount of sales. Additionally, most experts cite February as the best month to sell your property.

Ignoring Major Repairs

Fixing major problems can be costly, but they are crucial to your real estate sale. Even if you don’t recoup your expenses through selling, paying for mending services is preferable to buyers asking for a credit for future repair costs. Helming your structural fix-its also gives you control over how much you’d have to spend for the project and which expert will do the job.

Reluctance To Negotiate

One aspect of selling your property is negotiating with a buyer, so always be open to price discussions, even if you feel like your listing has a fair price. Both parties often come to a successful agreement when the deal benefits the buyer. Should you want to drive up the sale price, you can offer to cover part of the closing costs. Or, if your buyer’s inspector finds small damages, agree to credit for minor repairs.

Hiding Structural Problems

It’s a requirement for all realty sellers to disclose any existing issues, recent repairs, and updates to the property they’re selling. Be honest about structural problems instead of hiding them, as inspectors would likely find them even if they’re not immediately apparent. Buyers can sue you if it’s proven that you know of any issues not detected during the inspection, such as leaks, but decided to keep them a secret.

Contact Moss Realty today and get to know our agents. We have been providing our real estate expertise in and around Gastonia for over 30 years. Work with our team and let us help you handle the process of buying or selling your property.

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The Pros and Cons of Buying a Property

Owning a house is a goal shared by many people. If you’re planning to move into your dream home soon, there are a few things you’ll have to consider. One such decision is whether buying a property is the best course of action for you.

While buying or renting is a suitable option, finding a house through your real estate agent presents some unique benefits, though doing so also comes with a few drawbacks. Here’s an overview of the pros and cons of buying a residential property.

Pro: Builds Home Equity

Investing in your own home equity that increases over time is the perfect way to boost your property’s value. This approach is preferable to paying rent money every month, and it allows you to earn a profit if you decide to sell your house after a set time. Should you fall into debt and require financial support, it’s also possible to cash out and refinance a percentage of your equity to help you get back on your feet.

Con: High Upfront Costs

Back then, buying a property entailed an expensive 20% initial deposit. Though, changes in recent years now allow mortgage down payments for as low as 3%. While this rate seems like a good deal, the caveat is that you’ll have to pay higher mortgage insurance payments and a higher monthly interest rate

Pro: Improves Credit

Regularly paying your mortgage allows you to build your credit score. Delivering your payments on time will show that you’re financially responsible, leading to a consistent boost in your credit score. Keep in mind, though, that after taking out your mortgage, taking a large loan is not an advisable move for the next six months or further.

Con: Property Taxes and Other Fees

Monthly fees are a recurring variable in a homeowner’s life. If you decide that buying a property is for you, below are some of the fees that you’ll have to pay regularly:

  • Property Taxes
  • Homeowners Insurance
  • Private Mortgage Insurance
  • Homeowners Association (HOA) Fees
  • Utility Costs

Pro: Long-term Life Stability

Studies show that individuals who’ve bought their property instead of renting are less likely to move within any given year. Homeowners also integrate well with their community and enjoy stronger social connections and better civic engagement.

Cons: Need for Maintenance and Repair

Even if you find an impressive home through the real estate market, your property may still need a few repairs. Be prepared and set aside an extra budget, preferably 1% to 3% of your house’s purchase price, for the maintenance of your structure.

Get Comprehensive Advice from a Trusted Real Estate Company

Give Moss Realty a call if you need professional assistance buying a property. Our team has over 20 years of experience serving Gaston and nearby counties, so we can help you with any real estate service you need. You can also visit our office to learn about what we do firsthand.

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Home Buying Timeline for First-Time Buyers

Home Buying Timeline | Family of First-Time Home Buyers

If this marks your first time looking for a home, check out this home buying timeline to make the process easier. You can also ask a reputable agent or use real estate tools and resources to learn more.

Looking for a Real Estate Agent (1 to 2 Weeks)

Hiring the first expert you encounter leads to a fast transaction, but there’s no guarantee that you’ll end up with a reputable pro. Be sure to do an extensive search, create a shortlist of candidates, and interview each one thoroughly before making your decision.

Getting Mortgage Pre-Approval (1 to 2 Weeks)

To get the best option for your mortgage loan, take time in your search not only for an exceptional lender but also for different mortgage types. Once you’ve found the right company, the pre-approval process typically takes one to five days.

Viewing Open Houses (1 Week to 4 Months)

Your agent can arrange house viewings to give yourself a comprehensive look at the properties you like. Depending on where you live, your offer can get accepted on the same day you make it. In other markets, you’ll have to wait months for a suitable home, and even then, you’ll have to hope that your offer doesn’t get outbid.

Making an Offer and Negotiating (3 to 5 Days)

If a house finally feels right, you and your agent can make an offer for the real estate. You’ll have to wait whether the seller accepts or declines your offer. The owner can also negotiate with a counteroffer, so it’s up to you whether you’ll agree to a compromise, pitch another rate, or walk off.

Getting Loan Approval (1 to 2 Months)

With a pre-approved mortgage, you’ll have to present all essential documents to your lender, so they can approve your loan. On average, this house closing process can take up to 50 days.

Waiting for Appraisal (1 to 2 Weeks)

An appraiser will help you accurately determine the market value of your chosen property. Their report often comes after three days, though scheduling their services takes about a week. The appraisal results will show whether the asking price is fair for you or if you’ll need to renegotiate.

Performing a Home Inspection (1 to 3 Weeks)

To ensure that the house you’re eyeing doesn’t have any hidden issues, enlist the services of a licensed home inspector. These professionals often take ten days to conduct a thorough check.

Closing on Your House (1 Day)

The final part of the home buying timeline requires you to do a few more things before locking in your property. Once you deliver your down payment and closing costs and sign several documents, you’re finally free to call yourself a homeowner.

Find Your Next Home With Moss Realty

Contact Moss Realty if you need help securing a property. Our team has a reputable track record with over 20 years of experience serving North Carolina, so working with us ensures you’re in capable hands.