Most buyers opt to finance their houses with a mortgage loan. They may make a down payment and then make monthly payments until the loan is paid in full. Others prefer to pay for their homes with cash. It can save some time, but should only be something that you should pursue if you can afford to do so.
Homeowners must disclose certain information to potential buyers. Disclosures are often available in writing. The specific details and information that should be included can vary from one state to the next. Here are a few things that have to be disclosed when attempting to sell a home in North Carolina.
The median sale price for residential single-family homes in the Outer Banks area at the end of February 2022 is $570,000, which is a year-to-year increase of 27% from $450,000.
Some people opt to purchase foreclosed homes. These houses are now owned by a lending institution such as a bank, credit union or other similar lending organization. The previous owners failed to make their mortgage payments on time, so the lender foreclosed on the home. There are certain advantages and disadvantages to owning a house that has been foreclosed.
Some sellers wonder if they will need to pay taxes on the home that is being sold. The answer to that question isn’t the same for everyone. The amount that the property sold for, where you live and any applicable exemptions are just a few of the factors that will come into play.
The median sale price for residential homes in Outer Banks ended the month of January at $591,932, a year-to-year increase of 38% from $430,000 at the end of the previous January and up from the $342,000 median sale price at the end of January 2020.
Keller Williams Realty, Inc.
Serving Outer Banks of NC and surrounding counties
5595 North Croatan Highway
Southern Shores, NC 27949
1 Columbus Ctr #700
Virginia Beach, VA 23462
© 2022 Liz Holterhaus
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