Things To Consider Before Selling A House In North Carolina
Whether you are planning to downsize your empty home, or you have outgrown your home, selling a house in North Carolina can be complicated. Though the steps involved in selling a home are similar to other parts of the country, the real estate laws and practices in North Carolina are unique in some ways. As a North Carolina Realtor, we share an overview of the basics of selling a house in North Carolina.
Working With A Realtor
People selling a house in North Carolina work with a licensed real estate agent or broker. An experienced real estate agent will help properly price your home, market your house effectively and handle other jobs related to selling your house, like reviewing the purchase documents, negotiating with buyers, etc.
Signing A Listing Agreement
A listing agreement should be signed after finding a real estate agent in North Carolina. You signing the listing agreement gives the real estate agent the right to handle the aspects of the sale of your house. The listing agreement will cover details like the commission that you will pay to the agent, the type of listing, the list price, the duration of the listing, items that are included or not included in the sale, and obligations and duties of the real estate agent and the seller.
Escrow In North Carolina
Escrow is the time period between signing the purchase agreement and closing on the house. In contrast to other states, the state of North Carolina requires the seller and the buyer of the house to hire attorneys to act as intermediaries and oversee the closing process. Real estate agents in North Carolina can still handle relevant tasks like helping the seller complete and sign different forms and documents.
The buyer of a home in North Carolina typically has more tasks to complete in the escrow period than the seller. The buyer should finalize finances, remove contingencies, have the house under consideration appraised and get title insurance. Thetitle insurance should usually be obtained under deadlines that are detailed in the purchase agreement.
Attending The Closing
By the close of the escrow, you and the home buyer should have fulfilled all the terms of the purchase agreement. All funds and final documents will be exchanged between the parties at the closing itself. The buyer will pay the seller the purchase amount and the seller should give thebuyer the deed and other transfer documents and a clear title to the house. As the seller of the house, you should pay off any outstanding loans on the real estate property and should pay commissions to the realtors.