Offer + Great Realtor = Success

In this business, many times clients say to me…”just bring me an offer.” Getting an offer on your home or making an offer on a property is only half the battle. Of course, a large part of your Realtor's job is to advertise and promote your property to potential buyers to “get you a buyer.”

The next hurdle for your Realtor is to help facilitate your offer turning into a valid contract & overseeing your contract making it through repair negotiations, financing dates & the appraisal process (what is known as your due diligence period). This part of the deal requires your agent to be able to help in so many ways. Many times negotiations can “feel” personal and your agent may have to help you overcome your emotions involved in a sale.

 Your Realtor/agent has to be able to understand financing and have knowledge of various loan types, terms and time limitations involved.  Your Realtor should have a clear understanding of the recent comparable properties which can/could affect your appraisal. Last… but certainly not least, your agent needs to be able to negotiate repairs. This is something your agent should have detailed knowledge and experience in.

Repairs are one of the most volatile areas of the negotiation process and should be handled delicately. Being able to get a property from contract to closing requires your agent to be able to guide and support their party through the negotiation process as calmly as possible to help everyone involved to get to the closing table. A bad, un-experienced or unreasonable Realtor on either side of a transaction can make the buying/selling process much more uncomfortable and more difficult.  It is our job as Brokers/Realtors to be “facilitators” to the sale and to represent our clients’ rights as well as help our clients keep in mind the end goal…GET TO CLOSING!

It is important to make sure when you hire your Realtor that you ask them about their experience in getting properties from time of contract to the date of closing. Does your agent have a great track record? How many deals has your agent successfully handled in their career? In the past year? How many of their deals fell through? Why did they not close? Is your agent active in the marketplace? Constantly networking with other agents? Are they someone with whom you feel comfortable representing you? Thanks for reading! For questions email me at shannonlee@seacoastrealty.com

Buyer Agency is free!

    

Buying a house is one of the most expensive purchases you are likely to ever make, so it is important to do it right and get the best price possible.

In North Carolina, Buyer Agency (hiring an agent to help you buy a home) is free! Why would you not have an agent educate you on the market, search for the right property for you, negotiate the best price, terms and conditions of the purchase of your new home for you? If you don’t have an agent or are considering purchasing your first home my advice is to reach out to a trusted Realtor who can help you with the process.

I have heard many regretful stories from people who wished they had known better when they purchased a newly constructed home for example directly from a builder sales representative (also sometimes called an on-site agent). These sales people normally work a set schedule at a model home for a community that is new. They are normally hired directly from the builder so this is an important thing to note. In that role, that on-site agent’s job is to represent the builder and to work for his/her best interest. For example, an on-site agent is not going to educate you on the prices of the recently closed homes in the community nor are they going to volunteer that you may have negotiation room with the prices and/or home options.

A buyer’s agent is not only needed in new construction home purchases but also in the purchase of resale’s or existing homes for sale. Those homes normally are on “lockbox” and you as a buyer need someone to open the lock box to view the home. If you simply call the agent off the sign you may or may not give yourself the best negotiating power by possibly disclosing your motivation, price range, family situation, etc. because that agent has an obligation to the seller first.

Buyers agents’ work very hard to learn your wish list in your new home and help research the homes that will work for you. An experienced Realtor® will help you navigate learning the area(s) of town that are good for what you are wanting in your criteria. Also, isn’t it reassuring that you would have a professional guiding you to make the best investment possible for your budget?

The Wilmington, North Carolina housing market overall reported an increase in average sales prices when comparing 2013 to 2014 numbers. Eight out of the eleven zip codes reported in Wilmington Regional Association of Realtors (28443, 28449, 28428, 28480, 28451, 28412, 28411, 28409, 28405, 28403 and 28401) had a list price to sales price ratio above 95%. Which is great for sellers but another way to look at is; that is about 5% off the list price across the board that the buyers where able to save on their purchase. Of the 5,000 sellers in 2014, 34% paid some sort of concession toward the purchase of the house. So, basically that is another indicator and supporting factor for why you want to have a great buyers agent negotiating on your behalf. Concessions could range from closing cost assistance provided by the seller to money in lieu of repairs.

If you or someone you know is considering purchasing their first home, encourage them to seek representation. I would prefer it be from me (but even if it’s not from me), in the best interest of every transaction, every buyer deserves a great buyer’s agent. Thanks for reading! For questions feel free to email me at shannonlee@seacoastrealty.com

1144 Edgewater Club Road Wilmington, NC 28411

This quality constructed home is now for sale and it sits on atop over an acre of manicured land. This home has 4 bedrooms, 3 baths and playroom. The living room features vaulted ceilings, wood burning fireplace and lots of windows allowing the natural light in. Downstairs master suite has beautiful granite countertop, spa-like shower with upgraded tilework and jetted tub. The open concept kitchen and dining room make this space perfect for entertaining. Lots of cabinetry space in this kitchen with large breakfast bar. Two of the upper bedrooms share Jack and Jill bath as well as unique shared playroom or office space. This home has a huge fully fenced back yard with koi pond & in-ground swimming pool. Large dedicated space at the back of the property would be a gardeners delight complete with separate well for 7 zone irrigation system. Windows were recently replaced, fresh paint (interior & exterior) and new carpeting. This home is move-in-ready with 2-10 home warranty for added piece of mind.  No homeowners association dues, no city taxes and no water bill!

Call Shannon at 910-512-5399 or email shannonlee@seacoastrealty.com to schedule your private showing of this home. $329,000 MLS #: 517406

Downtown Wilmington

I love the architecture and the history that our beautiful city of Wilmington, NC has... especially downtown. These are just a few of my favorites of the more famous landmarks or just random buildings I think are noteworthy. Enjoy!

{photo credit: Shannon Lee}

Super Bowl Dip

I found an awesome recipe on Pinterest this evening as I was thinking about wanting to try a new appetizer for the Super Bowl tomorrow. It sounds great and thought I would share. Enjoy!

Jalapeno Popper Dip

Ingredients:
2  (8oz) blocks of cream cheese, room temperature
1 cup Kraft mayonnaise
1 cup Kraft shredded Mexican cheese
1 cup Kraft Parmesan cheese
1 (4oz) can chopped green chilies
1 (4oz) can chopped jalapenos
1 cup Panko bread crumbs
1/2 stick (1/4 cup) butter melted
Salt
Pepper
Dried parsley (optional)

Directions:
Preheat 375°
Mix cream cheese, mayonnaise, Mexican cheese, 1/2 cup Parmesan cheese, green chilies, jalapenos, pinch of salt, dash of pepper. Do not drain the peppers or chilies. Put in casserole dish. Mix panko bread crumbs and 1/2 cup Parmesan cheese and melted butter. Sprinkle the mixture over the dip. Bake for 20 minutes. Serve with your favorite crackers.



 

7757 Cypress Island Drive Wilmington NC 28412

This beautiful brick home is now for sale in the Cypress Island Community. It has been immaculately maintained and is tucked in to quite cul-de-sac lot in the back of the community. This home has wonderful open floor plan that lends itself to entertaining. Large kitchen breakfast bar is open to the dining and living areas and is complete with updated stainless steel appliances. Neutral paint colors and upgraded flooring make this home move in ready. Large sunroom/library off the living room and master create great flow throughout this home. Enjoy your morning coffee on the sunny back porch overlooking your fenced backyard. Come enjoy the carefree lifestyle this home provides with close proximity to Carolina and Kure Beaches'. In addition to close proximity to the beach, this community features golf, tennis, pool and clubhouse for a low $110 monthly HOA fee. Offered at $242,000 you will want to take a tour of this lovely home. Call Shannon at 910-512-5399 or email shannonlee@seacoastrealty.com to schedule a showing of this incredible property.

Who pays for what?

Buyer & Seller Costs in a Real Estate Transaction

What are my closing costs going to be? How much is a survey? What do I have to pay for?


Every transaction is unique however this is a list of typical cost(s) and responsible party in a transaction. Of course, your Realtor and lender can help you with more accurate estimations as the transaction progresses. Hopefully someone will find this list helpful with estimated cost(s) projections.

Estimated Cost(s)

Seller pays for:                                                           Approximate amount:

Commission                                                               5-10% of the purchase price

Deed Preparation                                                      $95-150

Revenue Stamps                                                        $2 per $1000 of the purchase price

Release of Sellers Mortgage                                    $35-45

Federal Express                                                         $35-40

Home Warranty                                                         $400-500

Buyer pays for:                                                           Approximate amount:

Earnest Money                                                          typically 1% of offer price

Appraisal                                                                    $400-500

Credit Report                                                             $30

Home Inspection                                                       $350-450 (based on square footage)

Origination Fee                                                          1% of the loan amount (can vary)

Discount Points                                                          a % of the amount/type of loan

Attorney Fee                                                               $500-600

Termite Inspection                                                    $75-100

HVAC Inspection                                                       $85-100

Survey                                                                           $300-700 (depending on size)

Flood Certification                                                     $12-30

Recording Fee                                                             $90-125

Title Insurance                                                            $2 per $1000 of the purchase price

HOA Dues                                                                    Prorated from date of closing

Federal Express                                                          $35-40

Commitment Fee                                                       $450

Document Preparation                                             $75-100