Lake Norman Real Estate
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Everything you need to know about beautiful Lake Norman, NC including waterfront properties, relocation resources, local news, photos and my latest blog post…

The Due Diligence Fee: Non-Refundable and Very Unpopular with Lake Norman Home Buyers

 

Due Diligence Fee and Period for buying a home

In January of 2011 the North Carolina Association of Realtor’s completely redesigned the Offer to Purchase forms to be used when buying and selling single family homes in our state.  One of the hardest things to explain or justify to out-of-state buyers particularly is the non-refundable “Due Diligence Fee”. Continue Reading….

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The Real Estate Process, Home Buying and Selling Tips

The Due Diligence Fee: Non-Refundable and Very Unpopular with Lake Norman Home Buyers

Due Diligence Fee and Period for buying a home

 

In January of 2011 the North Carolina Association of Realtor’s completely redesigned the Offer to Purchase forms to be used when buying and selling single family homes in our state.  One of the hardest things to explain or justify to out-of-state buyers particularly is the non-refundable “Due Diligence Fee”.

So what is the Due Diligence Fee?  In short, it is a non-refundable fee that is given to the seller at the “effective” date of the purchase contract which is the day the agreement is signed and delivered back to the buyers or buyers’ agent.  If paying by check, the buyer makes the check payable directly to the seller.  It does not pass go nor go to an escrow account. The seller keeps it no matter what.  The good news is that this fee is negotiable and does get applied to the total purchase price. Continue reading

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lake norman real estate, Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2015 Hot Sheet Analysis

Lake Norman real estate Hot Sheet report

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

Despite the weather, February closed sales so far indicate that Lake Norman’s housing market is plugging along at a pace slightly better than last year’s. We currently have 230 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman compared to last month’s 187, December’s 174, November’s  208, and October’s 262.  While February is historically one of our lowest month for closed sales, activity is good.  Here are our 2-week Hot Sheet numbers:

Lake Norman Real Estate’s February 2015 Two-Week Hot Sheet

Lake Norman real estate Hot Sheet home sales

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (February 8th – 22nd). As always, I have included the past 6 months so that you can put these numbers in perspective.

Continue reading

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Just the facts about Lake Norman

Snow in Lake Norman?

Weather is a big reason why so many people from all over the country move to our Charlotte Lake Norman area.  One common question is about our winters so when I just found this on the WNBC weather report this morning I knew I should share it!  As you can see, last year we had one big storm which brought in 9.3″ although at our house we measured 10″.  The most we have ever had in the past 2 decades is 14.5″.  So far this year we haven’t had any but forecasters are calling for about 1″ tomorrow night.  Sorry Boston, hang in there!

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s January 2015 Sales Analysis:

Our January closed sales really don’t tell the whole story of our current and near future Lake Norman housing market. While we are likely to just match last year’s and slip below January 2013’s in closed sales, it is our new contracts and the amount of showings and activity I have been seeing since the holidays that support where I feel we are heading in early 2015.   Let’s take a closer look:

Lake Norman Market Report January 2015

Lake Norman Market Report January 2015

* All data is from the Charlotte Regional Multiple Listing Service.

Some significant additional statistics for you: Continue reading

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