Welcome to Sandbarliving.com. It is my goal to provide you with great information and resources regarding real estate in the Outer Banks. Whether you are buying or selling, I can help. I understand that buying or selling a home is challenging ADD to that buying or selling from a distance and it can seem impossible. That's where I come in! I am here to help guide you, advise you and make the process as smooth and enjoyable as possible. Please enjoy the site and let me know how I can help you!
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There are many different reasons why people choose to buy a home in the Outer Banks.
Part of my Strategic Buying Plan customized specifically for you, deals with identifying your goals and finding properties that fit!
When it comes to buying, it’s never too soon to talk about financing. The very best homes sell quickly – and if you are getting a loan, being pre-qualified is a must.
If you are a cash buyer, check with your tax adviser to see if paying cash is the best strategy for your situation. In some cases, carrying a mortgage allows strategic leverage and with low interest rates, this is sometimes a better options. When making an all-cash offer on a home, you should include proof of funds from your financial institution. The seller is going to want evidence that you can complete the sale.
Buyers are often surprised by the costs associated with purchasing a home. Many people only consider the down payment when calculating upfront financial costs and end up scrambling to redo their budgets. It's important to know ahead of time what all the closing costs are so you can appropriately plan.
Here are a number of the most common costs that should be taken into consideration.
Typical Buyer Closing Costs
Most buyers want to know and understand flood zones in the Outer Banks. The most common flood zones currently in the Outer Banks are:
One thing to note is that flood insurance can be assumable. Meaning if the current owner has flood insurance that is at a good rate, you may be able assume that policy to keep costs under control. Rates are sometimes better because they are "grandfathered" in to the zone in place at the time of insurance issuance.
Dare and Currituck County revised flood maps are due to be in effect in 2018 - final dates are still pending.
One of the most frequently asked questions I get from buyers is about insurance. As an Outer Banks property owner, you will likely carry 3 types of insurance.
While these 3 insurances combined may end up being more than you are used to in your home market, keep in mind that in most instances our property taxes are lower. If you consider these two expenses together, you will likely find the sum is reasonable.
It is usually best to work with an local insurance specialist EARLY in your search to get a full understanding.