THE AFH RESOURCE LIBRARY
A Little Knowledge Goes a Long Way.
Real estate comes with important decisions, unfamiliar terminology, and plenty of questions.
Here you'll find practical advice, helpful explanations, and a few things worth knowing before buying or selling a home in North Carolina or South Carolina.
Whether you're preparing for your first purchase, considering a sale, or simply trying to understand how everything works, you're in the right place.
THE BUYER'S EDIT
A More Informed Way to Buy.
A little preparation can help you understand your choices and approach the process with greater confidence.
Start With Your Financial Picture
Speak with a qualified lender about financing options and preapproval before you begin a serious home search. Consider not only what you may qualify to borrow, but also what feels comfortable within your broader financial priorities.
Look Beyond the Listing Price
Property taxes, insurance, HOA dues, utilities, maintenance, and closing expenses can all influence the cost of owning a home. Ask about the full financial picture rather than focusing only on the advertised price.
Explore the Surroundings
Think about the routes you travel, nearby amenities, local services, property jurisdiction, and how the location fits your daily routines. Verify school assignments and other address-specific information with official sources.
Understand Your Representation
Before entering a buyer representation agreement, discuss the services provided, the duration of the agreement, compensation, and how the relationship works. Ask questions until the terms are clear.
Make Room for Due Diligence
Inspections, financing, appraisal, title review, and other investigations can reveal important information. Understand your contract deadlines and work with qualified professionals to evaluate the property.
Ask About New Construction Before Visiting a Builder
Builder registration and agent-participation policies vary. If you're considering a newly built home and want your own representation, it's helpful to discuss that before your first model-home visit.
Explore Further
THE SELLER'S EDIT
Prepare Thoughtfully. Sell Strategically.
A successful selling strategy starts well before the listing goes live. The goal is to make informed choices about pricing, preparation, presentation, and the terms that matter to you.
Understand Your Market
Review recent comparable sales, active competition, and property-specific features before determining an asking price. A comparative market analysis can inform the discussion, but it is not an appraisal.
Choose Improvements With Intention
Before investing in renovations, consider the home's condition, your timeline, likely buyer expectations, and whether a particular improvement makes financial sense. Not every project is worth doing before listing.
Give Presentation the Attention It Deserves
A clean, thoughtfully prepared home and accurate, appealing photography can help prospective buyers understand the property's features. Marketing materials should represent the home truthfully.
Plan for Showings
Discuss access, scheduling, pets, valuables, and privacy before listing. Establish a showing plan that balances your circumstances with the needs of prospective buyers.
Look Beyond the Highest Offer
Purchase price matters, but so do financing terms, contingencies, deadlines, requested concessions, and the buyer's ability to perform. Evaluate the full offer rather than a single number.
Prepare for the Next Chapter
If you're buying and selling around the same time, consider the order of transactions, financing needs, moving logistics, and potential timing gaps before making commitments.
Explore Further
WORDS WORTH KNOWING
Real Estate, Explained Simply.
You shouldn't need a dictionary to understand your own transaction. Here are some common terms you're likely to encounter.
14 terms
- Preapproval
- A lender's preliminary assessment of your qualifications and potential borrowing amount. Not a guarantee of a mortgage.
- Buyer representation agreement
- A written agreement describing the agent's services, relationship, duration, and compensation.
- Comparative Market Analysis (CMA)
- An analysis of relevant comparable property information used to help inform a pricing strategy. Not an appraisal.
- Appraisal
- A professional opinion of a property's value prepared by a qualified appraiser.
- Home inspection
- An examination of accessible property systems and conditions within an inspector's agreed scope.
- Due diligence
- The process of investigating a property and transaction before closing. Contractual rights and deadlines vary.
- Earnest money
- A deposit demonstrating a buyer's commitment, handled according to the purchase agreement and applicable rules.
- Contingency
- A contractual condition that may affect a party's obligations or rights.
- Closing costs
- Expenses associated with completing a property transaction, separate from the purchase price.
- Title
- The legal ownership interest in real property. Title review examines relevant ownership and recorded matters.
- Escrow
- An arrangement in which funds or documents are held and handled according to specified conditions.
- MLS
- Multiple Listing Service, a system through which participating real estate professionals share property listing information.
- HOA
- Homeowners association, which may impose dues, rules, and obligations on properties within its jurisdiction.
- Seller concessions
- Costs or benefits a seller agrees to provide as part of a negotiated transaction, subject to applicable limits.
A Little More Guidance, When You Need It.
- Buying a Home
Explore the full buying process.
- Selling a Home
Learn about pricing, preparation, and marketing.
- First-Time Buyers
Start with the fundamentals of homeownership.
- New Construction
Understand the choices involved in buying or building new.
General educational information only; not legal, financial, tax, or inspection advice. Consult qualified professionals about your circumstances.
