Monday, June 20, 2016

What will it cost to Sell my House?

Thinking about selling?

Here's what you should know about what you will have to pay.

These are the main items which are usually deducted from the sellers' proceeds at closing.

(You should note that there may be additional expenses - this is not an exhaustive list.)

1.  Mortgage Pay-off

If you borrowed money to buy your current house then probably the biggest cost to you when you sell will be repaying that loan.
It is common for monthly mortgage statements to include a 'current balance' showing how much you still owe on your loan.  The actual pay-off will be a little different and will probably include some fees.  You should request this information directly from your lender.

2.  Realtor Commissions

Your listing agreement will detail how much commission you will have to pay your Realtor when the house is sold.  This amount will be paid at closing from the proceeds of the sale.



3.  Attorney Fees

Attorney's prepare the paperwork and conduct the closing.  Seller's should expect to pay around $500-900.

4.  Taxes on the Sale (sometimes called Revenue Stamps)

In North Carolina you will pay $1 per $500 of the sale (rounded up to the nearest $1).  This is normally a seller cost.

5.  Property Taxes

Depending on when your property taxes are due and whether you have paid them for the year you may have to give the buyer a credit at closing toward the property taxes.
For example if bills are usually mailed at the end of the year for that year's taxes but you are moving in April then you will give the buyer a credit for the number of days you owned the property and they will pay the bill in full when they receive it later in the year.

6.  HOA

Some HOAs charge a transfer fee.

7.  Buyer Concessions

Buyers may ask the seller to contribute toward their closing costs.  This is common with first time buyers but any buyer could request this and it will be part of your negotiation.  If you agreed to pay closing costs then this will be subtracted from your proceeds at close.
Buyers may also ask you to purchase a Home Warranty and contribute to repairs and again, if you have agreed to do so this will be deducted at closing.

Being aware of the potential costs of selling your home will help you to make a good decision about whether to sell and to avoid surprises at closing.


Are you thinking about selling?
Need Helpful Advice?

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Louise Norton
704 408 0733
louise@charlotteandthelake.com


PO Box 481487, Charlotte NC 28269


Thursday, June 2, 2016

What to Expect at Closing?

Buying or selling a house can be a stressful experience.  There are so many things to think about!

Don't hesitate to ask your Realtor about the process.

I tell all my clients that no question is too small and that they shouldn't hesitate to ask.  

Here are some of the things which I get asked about most frequently.

Do I have to come to Closing?
  • Most of the time all of the buyers and all of the sellers will attend closing. 
  • Arrangements can be made for the closing to go ahead without you there. This may take some time to organize so make sure the Attorney knows ahead of time.

Who else will be at Closing?
  • In North Carolina the Closing transaction will usually be completed at an Attorney's office and an Attorney is responsible for co-ordinating the transaction.  
  • At a typical closing you will see the buyers, the sellers, the closing Attorney, and two sets of Real Estate Agents at the closing table.  
  • Real Estate Agents do not have to attend but usually do to offer advice and ensure that the transaction runs smoothly.  
  • You may also see other professionals represented - a representative of the lender for example.
  • There is no requirement for the buyers and sellers to be in the same room at the same time to close.

What should I bring to Closing?
  • Make sure you know ahead of time what amount of money you need to bring to closing.  Some Attorneys will require that the money is wired, others will accept a Certified Check - make sure you ask.  A personal check or envelope full of cash will not be acceptable for closing!
  • The Attorney will also need to see a photo ID so make sure you bring your driver's license.
  • If you have had a recent name change which may affect the paperwork at closing make sure the Attorney knows ahead of time so that the correct names appear on the paperwork.

How long will closing take?
  • If all parties are attending the Closing and the Buyers are using a mortgage then the closing will  take much longer than if there is a cash buyer  and the seller is closing remotely.  
  • The Attorney will usually give a brief explanation  of every piece of paperwork which needs to be  signed and in most cases buyers should expect to  spend 30-45 minutes at the closing table.  
  • Sellers usually have less paperwork to sign and their side of the transaction can be completed more quickly.

What can go wrong at closing?
  • In the vast majority of cases closing runs smoothly.  All parties to the transaction have provided all the information ahead of time and any questions about the parties or the property have been answered before you get this far. 
  • In some cases, however, a deal can fail even at this late stage. Disputes around repairs may come up or some detail about the physical property may be disclosed which should have been disclosed earlier. 
  • Careful planning and research ahead of time is always wise but it is also good to be aware that nothing is FINAL until the closing is complete and the deed recorded.

What happens after closing?
  • Even after the paperwork is signed the sale is not complete.  
  • The Attorney will still need to arrange for the deed to be recorded and commonly you should not expect to receive the keys to your new home until this is complete.  
  • After Recording is complete the keys will be released and the Attorney will disperse the various funds. Sellers should make arrangements with the Attorney to receive their funds either by check or by wire to their bank. 


All closings and all Real Estate transactions are different so make sure that you get up to date and reliable information from a Realtor as you work through your sale or purchase.


Looking for an Expert to Guide You Through 
Your Real Estate Transaction?


Call/Text/Email Any Time
Real Estate Advice, Local Knowledge & SO Much More!


Louise Norton
704 408 0733
louise@charlotteandthelake.com



Wednesday, May 25, 2016

Local Information - Great Sources!

There's so much going on in and around Charlotte.  


Charlotteandthelake.com
There are lots of wonderful places to visit along with a full calendar of events and activities.

The challenge is keeping up with what's going on and making sure you don't miss a single thing!
There are a lot of local resources I use and share to keep myself and my clients up to date with all that's happening around the area.


Here are some of my Favourites:


Charlotte's Got a Lot    www.charlottesgotalot.com
Go Carolinas     www.gocarolinas.com
Charlotte on the Cheap  www.charlotteonthecheap.com
Lake Norman Magazine  www.lakenormanmagazine.com
Charlotte Magazine   www.charlottemagazine.com
Moving to Charlotte - the Un Tourist Guide   www.movingtocharlotteguide.com
Lake Norman Currents    www.lncurrents.com
Town of Davidson     www.townofdavidson.org
Town of Huntersville   www.huntersville.org
NC Travel & Tourism  www.visitnc.com  
Mecklenburg Parks & Rec   www.parkandrec..com
Lake Norman Tourism  www.visitlakenorman.org

You can also check out my Facebook page for regular posts on local activities & fun places to visit.
https://www.facebook.com/LouiseNortonCharlotteRealEstate

Do you have a great resource that's missing from my list?  Let me know!

********

Call/Text/Email Any Time
Real Estate Advice, Local Knowledge & SO Much More!


Louise Norton
704 408 0733
louise@charlotteandthelake.com


PO Box 481487, Charlotte NC 28269


Thursday, May 5, 2016

How to be the "Winning" Buyer.

If you're thinking about buying a house this spring/summer in Charlotte there's a good chance that you may have to deal with a multiple offer situation on the house you want.
Here are some tips to help you put together your best offer and be the "winner".

1.  Don't get too Invested

Finding out that you lost the house you loved and 'had to have' because the seller accepted another offer - yes that's disappointing.
I recommend that everyone be cautious about falling too much in love with your 'dream house' before your offer has been accepted.
I know it's hard but if you stay calm and realistic you are less likely to make a mistake - for example over-paying.

2.  Educate yourself

It's never too early to start looking at "For Sale" listings and getting an idea of how much you can get for your money in various neighborhoods.
Research your preferred subdivisions and then look further afield to see what else is out there which offers very similar benefits.

3.  Hire a Realtor

There is no downside to having a buyer's agent working for you.  Commissions are generally covered by the seller but your agent represents YOU.

A good professional will help you to write the strongest offer possible and will understand all the factors which might lead to your success.


4.  Get Prequalified

Without a pre-qualification letter from your lender you will not almost certainly be unsuccessful in a multiple offer situation.
Talk to some lenders early - find out what you can borrow and who you want to work with before you start looking at houses.

5.  Plan your Move

If you have a house to sell or you're locked into a lease then you will need to consider how that will factor into your purchase.  An offer which is contingent on a sale will not be as strong as one that isn't.

You may want to explore selling your current home and even moving into temporary accommodation so that you are in a stronger position when you make an offer on your new place.

Price is not the only factor a seller will consider in deciding which offer to accept - timeframe can also be a key component in their decision making.

6. Don't Leave Anything on the Table

If you make an offer on a property in a popular neighborhood make sure you make your strongest offer.

Often sellers will come back to the pool of buyers and ask for "Highest and Best" offers.  However it's important to know that they don't have to so if you don't submit your best offer at the start you may lose out.

Think about the financials and the relevant dates - a quick close or a short due diligence period may also be attractive to the sellers.

6. Put your Best Foot Forward

You may want to consider writing the seller a letter to accompany your offer - telling them how much you love their house and why you think you would be the right buyer.

These personal touches can be a factor particularly when there are several quite similar offers.

7. Be Ready to Move on

Don't stop looking when you make an offer.  Stay aware of what other properties are coming to market so that if you are unsuccessful you can put your efforts into the next opportunity.


Thinking about Buying, Need Guidance?

Call/Email/Text - Any Time!


Louise Norton
704 408 0733
louise@charlotteandthelake.com


PO Box 481487, Charlotte NC 28269
You can also find me on Facebook 



Wednesday, April 27, 2016

Satisfied Clients throughout the Charlotte Metro Area


Completed Transactions
Check out this map which shows all our transactions.

As you can see Charlotte and the Lake Real Estate works throughout the Charlotte Metro area from Kannapolis & Cornelius to South Charlotte and beyond.



Whether you're buying or selling it's always important to use a professional Realtor with plenty of recent experience.

How can Charlotte and the Lake Real Estate help you?


Call/Email/Text - Any Time!


Louise Norton
704 408 0733
louise@charlotteandthelake.com



You can also find me on Facebook 




Favorite Neighborhoods - Oakhurst, Cornelius

Finding a more convenient location than Oakhurst in Cornelius would be challenging!

This community is close to everything it seems!

Just a couple of miles from Birkdale, minutes from shopping at exit 25 and only a short hop to Lake Norman - how much better could it get?

.... But there's more ! - Oakhurst boasts its own shopping center, community park and swimming pool!

Everything is walkable within Oakhurst - there are sidewalks throughout.  You can even walk to a restaurant (131 Main) coffee shop (Charlie's) and pub (Cork and Cask) right there in the community.   

There are various home types in Oakhurst. 

Single level condos, two and three story townhomes, and single family homes all coming together to provide a great mix!


Prices start in the lower $100s for condos, mid $100s for town homes and go up into the mid $200s for single family homes.  

 Truly there's something here for everyone!


Would you like more information about this Neighorhood?

Call/Email/Text - Any Time!


Louise Norton
704 408 0733
louise@charlotteandthelake.com



You can also find me on Facebook 





Saturday, April 2, 2016

Ready to Sell?

Selling Your House is an Emotional Process




Don't go it alone - Call a Realtor.


Thinking about Listing your House for Sale? 


Call, Email or Text - Any Time!


Louise Norton
704 408 0733
louise@charlotteandthelake.com



You can also find me on Facebook 

Friday, January 22, 2016

Favourite Neighborhoods - Monteith Place

HuntersvilleThe best thing about Monteith Place is the great location.  With access to the now completed  I-485 loop just 3 miles away it's easy to get everywhere from Monteith Place! Even for I-77 commuters this is a great location close to exit 23 or easily accessed via the the exit 19 exit and I-485 connection to Old Statesville Road.  Huntersville Town Center with an increasing selection of shops and restaurants, a weekly Farmer's Market (during the season) and Discovery Place Kids is just 5 minutes drive away with even more choices just across the highway on Gilead Road.  If you love the lake - well it's just a 15 minute drive to the public boat launch at Blythe Landing.  

Within the Subdivision there is a variety of homes offering options from the $190s.  The community is built around a large community pond surrounded by a walking trail.  The rest of the streets are all have sidewalks which, coupled with the 25 mph speed limit makes the community very pedestrian friendly.  Further recreation opportunities are available just 2 minutes away at the Huntersville Family Fitness & Aquatic Center and at the Huntersville Athletic Park. 

Monteith Park is zoned for Blythe Elementary School, JM Alexander Middle and North Mecklenburg High School (school assignments are subject to change and should be verified.)

More information can be found here:

Huntersville Family Fitness & Aquatic Center - www.hffa.com
Charlotte Mecklenburg Schools - www.cms.k12.nc.us
Town of Huntersville - www.huntersville.org


Need information about homes available in Monteith Place? 
Thinking about Listing your House for Sale? 

Call, Email or Text - Any Time!

Charlotte and the Lake logo

Louise Norton
704 408 0733

You can also find me on Facebook and Twitter


Wednesday, January 13, 2016

Mortgage Pre-Approval.

Making the decision to buy a house is exciting.  It doesn't matter if you're a first-time buyer, if your moving to a bigger place or if your moving to be near to family - it's an exciting time.

Maybe you've already been on Zillow for months scoping out the best neighborhoods and falling in love with that special part of town?  Maybe you spent a Sunday afternoon visiting some local Model Homes?  Perhaps you have even found time to drive around some Open Houses.  

There's a lot to see and a lot to think about.

So, how do you know if you're being realistic about whether you can afford the houses you're looking at?  

Many people feel like they have an idea of how much money they will be able to borrow when it comes time for a mortgage.  They may know their credit score (CreditKarma anyone?) and feel like it's strong enough to borrow $X,000.  Maybe you've been on Google and searched "How much mortgage can I get if I earn $X" or you've used one of those online mortgage calculators? 

Truth is - you may have an 'idea' of how much you qualify for but this is one of those times when you REALLY need to talk with a real live professional to get the right answers.


I've seen people disappointed when 
those $250,000 houses they found on Realtor.com fade into the distance when they get the news that they can only get a $180,000 mortgage. 
I've also worked with people who's entire dreams have fallen apart when they hear that, right now, they can't qualify for a mortgage at all.  

The only way to know for certain is to talk to a lender.  

I recommend that you talk to at least two lenders and ask about a range of different products (fixed rate, ARM, different terms) so that you can fully understand all your options before you start seriously looking at houses.  Once you have a pre-approval letter in hand then you can really start to get excited!

Next thing to do?  

  • Interview Realtors 
  • Stay up late looking through listings on Zillow 
  • Binge watch 'House Hunters' and ....  
  • Get out there to find your new place!  

Good Luck!



Louise Norton
704 408 0733
louise@charlotteandthelake.com



You can also find me on Facebook and Twitter


Monday, January 11, 2016

Favorite Neighborhoods - River Run


Beautiful River Run is located just outside the college town of Davidson and about 22 miles north of downtown Charlotte.  Its 700+ single family homes are built around the award winning golf course, with many of the homes in the original phases enjoying spectacular views of the golf course and lake features.

Homes in the community range in price from about
$400,000 to over $1million.  All of the homes in the neighborhood are custom built by a select team of builders and the look of the community benefits from a wonderfully diverse variety of homes.

Although home construction in River Run began in the mid '90s brand new custom homes are still being built in the new phase, 'The Reserve at River Run'.

The River Run Country Club is the hub of community life. Residents who may choose to join the club enjoy the benefits of the club house and golf course.  In addition the club offers 16 tennis courts (including 4 indoors), a fully equipped fitness center and a pool complex with a junior olympic swimming pool and even a lazy river!  The community has sidewalk throughout making it, like Davidson in general, extremely pedestrian friendly.

Although River Run is located on the outskirts of the town residents can easily reach downtown Davidson directly by foot or bicycle by using the 2.8 mile greenway. All the benefits of Lake Norman boating and parks are just a few minutes drive away and Charlotte just 25 minutes via I-77.


River Run is assigned to Hough High School, Bailey Middle School and Davidson Elementary.  Several private and charter schools are also located nearby.



You can find more information about River Run here:

www.greatschools.com

http://www.riverruncommunity.com/
http://www.ci.davidson.nc.us/

For information about homes currently available in River Run or for more information about the Davidson area please contact me.




Louise Norton
704 408 0733
louise@charlotteandthelake.com

You can also find me on Facebook and Twitter


Thursday, January 7, 2016

Favorite Neighborhoods - Davis Lake

Davis Lake is a large subdivision in north Charlotte.  It's located just off WT Harris near exit 18 and the Northlake Mall.

There are about 850 homes in Davis Lake - most of them are single family homes built in the early 1990s.  There are also 81 townhomes in 'Woodcroft at Davis Lake' and 24 patio homes in 'Legacy at Davis Lake'.


The subdivision offers great community facilities with a large lake, 3+ miles of maintained trails, playground, 6 tennis courts and a wonderful swimming pool adjacent to the clubhouse. The lake can be accessed by small boats, kayaks etc. and offers catch & release fishing to the neighborhood residents. The club hosts a very active swim team and sponsors popular events throughout the year. The community is very friendly and lines through the parking lot to snag the best spot by the pool on July 4th and Memorial Day are not uncommon!

You can check out the Davis Lake Community Website here for more information about events & activities.


Another great feature of this community is the fact that you can walk to the Davis Lake Shoppes which includes a Harris Teeter, Starbucks and Chik-Fil-A.  You won't even have to leave the sidewalk! The shopping center also offers a Dollar Store, dry cleaner and several restaurants.

Commuters enjoy the proximity to 
I-77, I-85 and to I-485 - all less than 5 miles from Davis Lake.

Homes in Davis Lake start around $120,000 for a townhome in Woodcroft.  The most expensive lakeside custom homes sell around $350,000.

HOA dues including pool/tennis membership are currently $189 per quarter with condo fees being paid in addition to this for Legacy and Woodcroft.

Local school assignments (as of Jan 2016) include Croft Community Elementary school, JM Alexander Middle and North Mecklenburg High School.  The community is also located close to several charter and private schools.
Information about specific schools can be found at www.greatschools.com

For information about properties currently for sale in Davis Lake or for information about selling please contact me.


Louise Norton
704 408 0733
louise@charlotteandthelake.com