How Does a Real Estate Agent Get Paid?
Most of the time an Agent is paid by the Seller. If a Buyer has chosen to retain an Agent for a specified time to preform certain duties for the Buyer, that Buyer may have to pay the Agent a fee for services or be responsible for commission based on the agreements in the transaction. Buyers can work with Real Estate Agents under an oral agreement and do not commit themselves to paying the Agent.
What is the Biggest Factor Affecting Home Sales?
The saturation of product on the market.
Is This a Buyer Market Now?
Yes, because of the saturation of product and low interest rates. However, Buyers’ ability to obtain credit definitely plays a major role in being able to afford a home. Credit scores affect a Buyers interest rate and other costs in borrowing the money. Sometimes credit scores even affect things like the cost of auto insurance.
Does the North Carolina Contract for Purchase Protect the Buyer?
Yes, a due diligence period allows the Buyer time to investigate, negotiate issues, and secure financing prior to loss of earnest money deposits. Even after this period, Buyers can retrieve monies spent on these items if the Seller breaches the contract.