Frequently Asked Questions
Questions About Yellow Dog Realty
Do I even need a real estate agent?
It all depends on your particular circumstance. Whether buying or selling a home, there is a great value in having a licensed real estate broker representing you throughout the process. If you’d like to learn more about how we may be able to help your current situation, please contact us here.
What geographic area do you serve?
Our membership in the Triangle MLS allows us to serve clients in Durham, Orange, Johnston, Wake, and several other surrounding counties. While we are licensed across all of North Carolina, and can provide real estate services in all 100 counties, our primary focus is in the Triangle, where our MLS membership will allow our clients to have access to the most data and information possible.
Who makes up Yellow Dog Realty
We are a family-owned, husband and wife team with over twenty years of experience as brokers. Candace and Edwin work hand-in-hand with each client to give them a world-class customer service experience that aligns with the Yellow Dog Service Pledge.
What is the Yellow Dog Service Pledge
As a client of Yellow Dog Realty, we pledge to you the following:
- We pledge to make your priorities our priorities.
- We pledge to value your time as much as you do.
- We pledge to be honest and ethical in everything we do.
- We pledge to provide you the best customer experience possible.
This is the Yellow Dog Service Pledge, and as a client, you can count on these values from our family to yours, each and every time.
Questions Buyers Ask
What is a buyers agent, and what is the advantage for a buyer?
Every home buyer should have their own representation in a transaction as large as buying a home. A buyer’s agent is an agent who works specifically for you during your purchase. If you contact the agent who’s sign is in the front yard, you’re sharing important information about your situation with the agent that works solely for the seller. The agent has a fiduciary responsibility to let his/her client (the seller) know any of the vital information you may have shared. This can be detrimental to your negotiating position if you were to want to purchase the home. Having a good buyers agent who can navigate the transaction, the negotiation, and the follow-through is key. Also, most times, the buyer agent is paid from the commission of the seller’s agent – meaning no cost to the buyer! So, why wouldn’t you get professional representation in one of the largest financial transactions in your life, for free?
What items are checked by a home inspector?
For a home you are interested in buying, Yellow Dog Realty strongly recommends an inspection by a licensed NC home inspector. Once you receive the report you can make an informed decision whether to move forward with the purchase or to negotiate repairs /replacement of items found. The inspector should check, at a minimum, the following things on your potential new home:
- Structural systems
- Foundation integrity
- Roof, siding, and exterior
- Paint
- Plumbing systems
- Electrical systems
- Heating and cooling systems
- Fireplace / gas logs
- Flooring
- Trim / Moulding
- Switches, fixtures, and built-in appliances
- Drainage and evidence of water damage
- *A home inspector can notify you of insect damage that he/she spots to the home, but a separate pest inspection is recommended to assess the extent of the infestation.
When buying a home, what extra expenses should I expect to pay?
Typical Home Buyer Expenses can include, but are not limited to, the following:
- Home inspections (optional but recommended)
- Property survey (optional but recommended)
- Your share of yearly property taxes, HOA dues, and other similar fees (prorated for date of closing)
- Fees for a title search and duties performed by their attorney, title insurance policies, hazard insurance for a year, down payment and lender fees, flood zone certification fees
- Cost to record the new deed
- Funds to open lender escrow accounts for property taxes and insurance that will be paid by lender the following year
- Loan application fees
My offer is one of many on my dream home, how do I get the advantage?
There are never any guarantees but by following some basic guidelines and with the help of Yellow Dog Realty you can maximize your chances of getting your dream home.
- Ask for your Yellow Dog Realty agent’s advice. We have guided many buyers through the offer maze and can provide you invaluable information.
- Always come with a good solid pre-approval (not pre-qualification) letter for this specific property from your lender.
- Keep your offer as clean as possible. Leave out all of the “little extras” like seller-paid expenses, and stay with the necessities.
- Put as much earnest money down as possible. This will impress on the sellers that you are a serious dedicated buyer.
- Avoid low-ball or unreasonable offers unless the seller is clearly motivated to sell quickly. These types of offers rarely end in a contract.
Where do I begin?
Get Pre-Qualified by contacting a mortgage loan specialist to determine the amount of loan for which you qualify. By doing so, you increase the chances of your offer being accepted. A mortgage specialist can also calculate the price range for your home search if you know the amount of the monthly payment you would be comfortable paying. Provide accurate information, so that you don’t get disappointed later when you fill in the details for your loan application.
As a Buyer, what should I do to prepare for closing?
- Obtain final approval for financing
- Obtain Title insurance
- Gather estimates from moving companies and coordinate your moving date
- Get insurance coverage for real property, personal property and personal liability
- Follow up to ensure any contingencies have been completed
- Arrange for final walk through
- Arrange to have utilities transferred
- Update address change with post office, family, friends and employers
- Review all closing documents beforehand
- Confirm method of payment
- At closing obtain keys, garage openers and alarm codes
Questions Sellers Ask
What is special about my home?
When listing with Yellow Dog Realty, you’ll first meet with a Yellow Dog agent for a listing appointment. At the listing appointment the agent will want to inspect the house and property to become familiar with its special features.
You have enjoyed living in your home and have been pleased with its unique features. The listing agent will want to capture those special features for prospective buyers. Be ready to be specific about schools, day-care, nearby public transportation, and other desirable community features, as well as home features not readily apparent. And because prospective buyers like to “comparison shop” make sure your Yellow Dog agent knows why yours is special – from home remodeling to afternoon sunshine.
Is it best to turn down the first offer?
It’s normal for the seller to wonder “Could I have gotten more?” and for the buyer to wonder “Should I have paid less?” in any transaction. When you put your house up for sale at a reasonable price, the very first lookers may make an offer to buy. That doesn’t mean that you’ve priced your home too low. It means qualified buyers and their agents have been looking — and waiting — for the right house to come on the market at just the right price.
When an offer comes in, what is the next step?
Should I allow “drop ins” to see my house?
If a prospective buyer calls or comes by unexpectedly without a broker, get their name and phone number. We recommend that you do not show the home. Explain that it is not a convenient time. Call your Yellow Dog agent so that the buyer can be qualified and identified prior to showing. If you are using our listing services, then all showings should be arranged with you through Centralized Showing Service. This is for your benefit and protection.
Should I leave during a showing?
Buying a home may be the largest single purchase a family will make in a lifetime. It is a serious matter for them; therefore, too many distractions could spoil the sale. Too many people present during a showing may make the potential buyer feel like an intruder, which makes it difficult for the selling agent and buyer to be at ease. Its better that you take the dog for a walk, or the kids to the park, run an errand or visit a neighbor. If you’re home, greet the prospects at the door and politely excuse yourself and leave the selling to the agent.
As a Seller, what should I do before closing?
- Gather all keys, garage openers and alarm
- Have all manuals and warranties available in one place for new buyer
- Keep fire and extended coverage on your property through closing date or date of possession
- Have loan information and tax documents easily accessible
- Provide information on Homeowner Association and/or Restricted Covenants (if applicable)
- Provide all requested information to the closing attorney as far in advance of closing as possible.
Why list with an agent if I can negotiate on my own?
You may not need to, if you have thousands of real estate agents with willing buyers at your fingertips. However, most people selling their home want their home listed in the go-to source for buyers, the MLS system. Without your home in the MLS, an agent will likely never find your home, no matter how well publicized. Buyer’s agents start and end their searches for their clients in the MLS.
What is a flat-fee listing
A flat-fee listing is a type of listing where the homeowner pays no listing commission to the listing agent. He/she simply pays a “flat fee,” usually significantly lower than a standard commissioned listing for a set list of services including entry into the MLS, standard forms, limited marketing, etc. A flat-fee listing is a great way to save a good amount of money on the sale of a house, if you have the expertise to market and negotiate your own sale. We recommend that a buyer’s agent commission always be offered, to attract traffic to your listing.
Who pays for a buyer’s agent?
Like most answers in real estate, “it depends.” However, most of the time, the buyer’s agent fee or commission comes from the seller of the home. It is a worthwhile endeavor to be represented by a buyer’s agent instead of just calling the number on the sign in the yard. That agent works for and represents the seller, and usually has only the seller’s best interest in mind.
