buying an obx home Archives - Page 5 of 6

What should I expect when negotiating on a vacation home in the fall?

It's common sense that sellers should be more anxious to sell their house in the fall than in the middle of the busy summer season. Negotiating on a vacation home during the spring or summer eliminates a seller's summer rental income. They also will miss out on using the property during those great summer beach days. With winter around the corner it makes sense that sellers would not be interested in paying the bills for a house they are not using very much. Trying to quantify what would seem to … Continue reading...

When is the best season to buy a rental home?

Conventional wisdom is that the best time to purchase a vacation rental home on the Outer Banks is in the spring or summer. However there are other factors to consider when making a buying decision. Here are some pros and cons of purchasing in the different seasons. Spring: Besides getting instant rental income purchasing in the spring also allows you to use it in good weather. Usually the Outer Banks has great weather in May and June. Also, you may be able to reserve it a week or two by … Continue reading...

Choosing an Outer Banks Home Inspector

Choosing the right Outer Banks home inspector is critical to the success of your home purchase here. Since the Outer Banks is surrounded by water, wind, rain and humidity affect Outer Banks homes more than inland. Therefore, hiring a local home inspector who is familiar with the effects of this environment could save you thousands of dollars. North Carolina has a good brochure available that will help you set expectations. Here are three things to look for in a local home inspector. Licensed … Continue reading...

Why is the OBX Tax Assessment not near the asking price?

Over the last 20 years, more often than not OBX tax assessment values of properties were not equal to their market value. When properties were reassessed in 2013 many tax assessment values went down over 20%. In some cases even more. That’s a huge change in value from one assessment to another! Why is that? Did local property values dropped that much over that onet year? The simple answer is no. The reason for the large change in OBX tax assessment is that neither Dare County nor Currituck … Continue reading...

Why should I use an Outer Banks Lender?

Getting a loan today usually requires a little more time and effort. If you have refinanced or purchased property elsewhere over the last few years then you are familiar with this process. You may want to use your home town lender because they already have your paperwork or they are a friend. The unique aspects of getting a loan on OBX property may be worth reconsidering your decision. Here are some reasons why you should use an Outer Banks lender. Flood Zones Outer Banks lenders are … Continue reading...

How do vacation rentals work for an owner?

How do vacation rentals work? Renting your second home makes affordability much easier. Thousands of dollars each year can be earned to offset the mortgage or other vacation home expenses. Here’s some information about vacation rentals that will help you when thinking about buying a vacation home on the OBX. When a property is a vacation rental the listing agent has a few additional fields they can complete showing rental income. Many of the national real estate web sites do not carry these … Continue reading...

Is it time for an Outer Banks Purchase?

In just about any market you can find an article about why now is a good time to buy. It’s easy to be cynical when you hear calls to action today after what has occurred in the real estate market over the last five or six years. What makes this particular fall unique compared to just about any of the other times you’ve been told to purchase Outer Banks real estate? Rarely do so many market variables favor buyers. Here’s some information on a few of these variables. Historically low interest … Continue reading...

What is the best season for an OBX purchase?

If you are thinking about purchasing a home on the Outer Banks, then you are also probably thinking about timing. What season is best for your OBX purchase? The two busiest seasons for an Outer Banks purchase are Spring and Fall. That's partially due to the convenience of purchasing. In the summer it can be difficult to get in most vacation rentals. Access to those homes is just between vacation renters, (changeover days). Changeover days are filled with traffic. Also, the window of time to … Continue reading...

North Carolina’s Residential Offer to Purchase

It's common in most state Offers to Purchase for earnest money to be paid by the buyer at the time of the contract. North Carolina is the same. However, there is another type of money that is also listed in North Carolina's Residential Offer to Purchase. That's due diligence money. Due Diligence This residential offer form is similar to commercial contracts where buyers pay for a period of time to reserve the property. During this time the buyers should complete all their inspections and … Continue reading...

3 Mistakes Buyers Make When Purchasing OBX an Home

Without the proper help, it’s easy to make mistakes when purchasing a home on the Outer Banks. Some mistakes are bigger than others but almost all can cost you money in the long run. Here are three common mistakes OBX buyers make. Not getting a market analysis: Prior to buying most buyers look at numerous homes. During their home search they’ll compare the features of each property and make a judgment call on which one is the best value and/or best suits their needs. If you are basing your … Continue reading...

What should I expect when negotiating on a vacation home in the fall?

When is the best season to buy a rental home?

Choosing an Outer Banks Home Inspector

Why is the OBX Tax Assessment not near the asking price?

Why should I use an Outer Banks Lender?

How do vacation rentals work for an owner?

Is it time for an Outer Banks Purchase?

What is the best season for an OBX purchase?

North Carolina’s Residential Offer to Purchase

3 Mistakes Buyers Make When Purchasing OBX an Home

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