Frequently Asked Questions
Buying or selling a home can be an overwhelming process. We're here to help every step of the way!
Q. What sets Team Winkler apart from other agents?
A. We are full-time agents, not part-time. Real estate is part of our daily life, and not just a hobby.
For sellers, we provide professional photography, strategic pricing, and a licensed appraiser to measure your home - all at no extra cost.
For buyers, we do an in-depth consultation and use tools such as listing alerts to help identify the perfect property as soon as it becomes available. We will then submit an offer after analyzing comparable homes. Once under contract, we will schedule a variety of inspections to help uncover any potential issues.
Q. I'm already getting new listing alerts from another 3rd-party website or app, such as Zillow. Why should I sign up for listing alerts with Team Winkler?
A. In addition to active listings, we can alert you to listings that are "Coming Soon," which can give you an advantage over other buyers. 3rd-party websites and apps won't see these listings until they become active.
Q. Can an agent only show me their firm's listings?
A. No, a licensed agent can show any listing from any firm.
Q. Do I have to book showing appointments in advance?
A. It's always best to schedule showings in advance, but sometimes this isn't possible. There are three types of listing appointments: a) "Go and Show" means an agent may show the home to their clients at any time without notice; b) "Courtesy Call" means the seller will receive a call to let them know, but unless they say otherwise the showing is confirmed, and c) "Appointment Only" is required for occupied homes and each showing must be approved by the seller.
Q. Do I have to choose one buyer's agent to work with? When do I need to sign the agreement?
A. An exclusive buyer agency agreement must be signed before an offer is submitted. Until then, you may work under a "verbal buyer agency," if the agent will allow it. Our clients are never expected to sign anything when we first meet unless they want to go ahead and get the paperwork out of the way.
Q. What are the benefits of signing the exclusive buyer agency agreement?
A. The agreement creates trust between the agent and the client. The agent knows the client isn't wasting time, and the client knows the agent is only representing them. Without a buyer agency agreement (verbal or written), any agent is technically working for the seller.
Q. What are the common costs associated with the due diligence (inspection) period?
A. Clients typically have to pay around $2000 to investigate if a house is truly for them. This includes the due diligence fee (~$1000), home inspections (~$450), and appraisal ($~450). Of course, these fees can vary depending on the situation. The due diligence fee is paid to the seller and is typically non-refundable. It buys you the right to walk away for any or no reason at any point during your due diligence period, which typically runs about 2-4 weeks.
Q. What is due diligence?
A. This is the period of time when the buyer does all inspections, orders the appraisal, and submits and negotiates the repair request. At the end of the due diligence period, it is important to feel very comfortable with the property you are purchasing. Otherwise, if you terminate the contract after due diligence is over, then you would also lose your earnest money deposit.
Q. Should I renovate my home before I sell?
A. It depends. Replacing flooring and painting are common, but major renovations take careful consideration. You may not get the return on investment on bigger renovations. If the home will not sell in it's present condition (for anywhere near market value), then it may be worth it. We often recommend a home inspection before listing in some circumstances, depending on the age and condition of the home.
Q. What time of year is best to sell my home?
A. It depends. While most showing activity happens in the spring and summer, it often makes sense to list during other times of the year when inventory is low. We will discuss this, and determine what's best for your situation and home.
Q. I am buying or selling from a distance. How does the process change?
A. This is easier than most people think. If you are buying, we can preview the homes for you, and take extra pictures, video, or FaceTime with you as we walk through the home. Once you are under contract for the home, you can come see it during the due diligence period. If you are selling, we will help prep your home for showings, and periodically stop in to check up on the home and meet any contractors or appraisers as needed.
Q. Are most sellers willing to to do repairs? At what point do I make the request?
A. Repairs are negotiated after the home inspection, and before the due diligence period ends. Though they are not required to, most sellers will agree to repair items as long as they are reasonable. Buyers do not have this option on "AS-IS" sales such as foreclosures, short sales, and estate sales.
Q. What if the home doesn't appraise?
A. The buyer's agent and seller's agent will renegotiate on price. Often the seller will drop the price to match the appraisal, but sometimes the buyer will meet halfway in these negotiations. It really depends on the situation and market. If there were 10 offers, the buyer may not have as much leverage and might be expected to make up the difference in cash. The buyer can always terminate in this circumstance, and as long the appraisal came in during the due diligence period the earnest money will be refunded.
Q. What are some of the major inspection issues that you've seen in older homes?
A. It depends on the age of the home, but the main ones are structural repairs (~$5,000-$30,000+), oil tank environmental cleanups (~$5,000-$70,000+), and electrical and plumbing (~$1,000-$10,000+). We can help guide you on which inspections to order during your due diligence period.
Q. Should I get a survey?
A. Yes, we recommend it. A survey will reveal any encroachments and easements on the property, which could cause title defects. If there are no fences or obvious easements, you may want to save the money (~$400), but surveys often reveal surprises and they are extra peace of mind.
Q. Where can I find information on school ratings?
A. There are two great websites for school ratings in North Carolina. The first is www.ncschoolreportcard.org, and the second is www.greatschools.org/north-carolina. We're not huge fans of school ratings, since they don't often tell the whole story. This is why we recommend touring schools and speaking with administrators & teachers.
Q. I have other questions about the process. Who can help me?
A. Just give us a call at 919-593-3662 or use the Contact Us form. We're always happy to help.