Home - Information for Buyers and Investors
This
website section contains most of the information you need
to know in order to prepare you for purchasing
real estate in Coastal Brunswick County.
From
this site, you can search for most of the properties listed in the Brunswick County
MLS system through the Information Data Exchange (IDX). IDX
is a system that allows REALTORS® to display other REALTORS®
listings on their websites such as this site.
However, be aware that not all properties are included in
the IDX system. If you are considering purchasing a property,
please provide us with the information on the property type
you are looking for by contacting us so that we may conduct a more accurate and complete search
for you. Upon requesting our assistance with a property search,
we will e-mail you detailed information on the resulting properties
for your review. Once you review this information, we will
be available to assist you in determining the costs
associated with the properties so that you can make a sound
purchasing decision.
There
are a some things that you need to know about working with
real estate agents and purchasing coastal real estate properties
in North Carolina.
Working
with real estate agents in North Carolina:
The North Carolina Real Estate Commission publishes a pamphlet
titled "Working with Real Estate Agents" that outlines
the various relationships between the consumer and the agent. Click
here to download the pamphlet.
We can assist you in searching for properties and in providing
you with some basic information. Later, a time will come where
we will review this pamphlet together and you will sign acknowledging
reviewing this information with us. This pamphlet is not a
contract, it is simply an acknowledgement and it is the beginning
to establishing an agency relationship.
What
you must know about coastal properties:
Oceanfront real estate in Brunswick County is located
on one of the county's six barrier islands. These narrow strips
of land between the sea and the Intracoastal, the various
inlets and the Cape Fear River are particularly vulnerable to
ocean forces such as storms and beach erosion which can present
a threat to your prospective property and undercut
its value. There are various setback and elevation requirements
associated with these properties which are dictated by the
Coastal Area Management Authority (CAMA) and local building codes.
Furthermore, please be aware that, due to setback requirements,
an existing property may not be rebuildable in the event that
its structure is damaged more than 50% for any reason and
that you may be held responsible for removing the damaged
structure from the property. For an explanation on erosion
and setback requirements please visit the North
Carolina Department of Environment and Natural Resources Division
of Coastal Management's website.
Purchasing
real estate (improved property):
Although situations differ from case to case, in most cases
these are the steps to purchasing real estate in
North Carolina:
- Reviewing
Working with Real Estate Agents
- Financial
Pre-Qualification
The first step in purchasing real estate is to determine
the amount and the financing options available
- Determining
the purchasing area
- Property
search and cost analysis
- Entering
into an "Exclusive Right to Represent Buyer" agreement
- Reviewing
the various forms involved in the process
- Making
an offer
- Reviewing
the Property Disclosure Form (If improved and a resale)
- Reviewing
the lead disclosure form (if built prior to 1987)
- Reviewing
POA bylaws and restrictive covenants if applicable
- Performing
a Comparable Market Analysis (CMA)
- Researching
previous sales data, days on the market, etc.
- Completing
and submitting an "Offer to Purchase and Contract"
- Reviewing
and accepting, rejecting or countering a counter offer
- When
the offer becomes a contract
Once the "Offer to Purchase" is accepted,
it becomes a binding contract on the terms and conditions
of the offer. There are numerous processes involved from
this point that need to be done in a time schedule as determined
by the closing date specified in the contract. Here are
the steps after entering into a contract:
- Choosing
a closing attorney
- Order
property inspections (home and pest)
- Ordering
a survey if applicable
- Ordering
an appraisal (this is often ordered by the lender)
- Ordering
home owners and flood insurance if applicable
These are the steps to purchasing coastal real estate in North Carolina.
Researching, presenting a range of value for an offer, negotiating,
estimating closing costs, coordinating and following up on
all the components associated with a contract in order to
bring the transaction to a smooth closing is part of what
we do as your real estate agents. The other part
is having the experience, product knowledge and market focus
to help you realize your costal real estate objective.
