Outer Banks Real Estate

Features of a New Construction

Designed for family and efficiency, these new constructions on the Outer Banks will meet your needs in a beach house. Ready to buy a New Construction after reading our article, “Advantages of Buying a New Home“? See some of the standard features in new cottages here on the Outer Banks. 1st Level – Living Area, […]

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Lenders aren’t lending! You’d be surprised.

“Lenders aren’t lending! You’d be surprised.” February 12, 2016. You hear it all the time from a neighbor or as you read the daily news. “Lender’s aren’t lending!” This can be discouraging to a potential homebuyer or seller thinking about a selling their home. The reality is this statement couldn’t be further from the truth. […]

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Vacation Rental Properties

If intend to let others use for vacations, be sure to make yourself familiar with the North Carolina Vacation Rental Act (NCVRA). The NCVRA addresses contracts, notification of reservations already on the books, hurricane refunds, “fit and habitable” issues, evictions and advance payments already disbursed to the seller. There’s a lot to know and understand, […]

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Closings

Congratulations! At this point in the process financing has been secured, inspections and negotiations complete.  This is the exciting time!  Closing procedures can happen in several different ways: in your attorneys office, with/without your REALTOR® present or mail away via FedEx or other courier service. Arrangements for delivery via courier service must be made in […]

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Pest Inspections

Pest inspections are handled in the same way as home inspections.  They are usually conducted before closing.  It is the responsibility of the buyer to hire and pay for the professional pest inspection.  The price of the pest inspection will vary depending on the size of your new home.  The purpose of a pest inspection […]

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Rent or Not To Rent

Property Management, second home or investment property. Now that all the paperwork is done and you’ve taken possession of your new vacation home – consider letting someone else make your mortgage payments! The world of Property Management can be a little overwhelming sometimes. There’s more to consider and compare than fees. How long have they […]

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1031 Tax Free Exchange

The 1031 tax-deferred exchange is a process that allow a taxpayer to use capital gains (profits) earned from one real estate transaction for the purchase of a “like kind” investment without penalty.  Of course, certain conditions apply: Properties must of “like kind” meaning the old property must have been an investment or commercial property if […]

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Financing Options

Pre-Qualifying The first step to pre-qualification is to contact a lender in your local area or drop by any of our financial institutions during your next visit to the Outer Banks. Knowing in advance how much you can afford will help alleviate a lot of stress during your search and it adds a sense of […]

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Understanding Agency

North Carolina law requires each real estate agent to form one of the following agency relationships and to disclose the type of relationship writing to all parties. Seller agency – owner of real estate agrees to engage services of a brokerage firm in order to sell the piece of real estate. The seller is the […]

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Insurance

It’s a common misconception that insurance is difficult to obtain for homes on the Outer Banks but actually insurance is available is more affordable than you think. Conventional policies are available for many home.  The “Beach Plan”, a specialty insurance tailored to the needs of oceanside properties, is also available. Insurance coverage on the Outer […]

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