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Understand what the difference is between REALTORS and other real estate practitioners. Like doctors, lawyers and engineers, REALTORS are professionals that pledge to follow a strict code of ethics. |
Appraised Value has three approaches: cost, market, or income and is specific to the type of real estate. Assessed Value is for tax purposes and done by a county appraiser. Real estate agents in North Carolina and the Lake Norman area use Fair Market Value. |
Review this Earnest Money section prior to entering into a NC real estate contract and understand the purpose of the earnest money and how it will be held during your real estate transaction. |
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Buyers hire professional Home Inspectors to inspect the home's structural and mechanical systems. Remember, repairs are negotiated after the sales price has been determined. See what an inspector will be looking for and what your rights are as the Buyer. |
In NC, and the Lake Norman real estate market, the "closing agent" is an attorney that is selected by the Buyer. The "closing" is the final step in the buying process where the Buyer pays the Seller. The Seller in turn gives the Buyer the deed. Review this brochure about NC real estate closings. |
Refer to this glossary of real estate terms and use as a reference for terms that might not be familiar to you. |
