Jaclyn Erwin 624 Matthews Mint Hill Rd.
Suite 137
Matthews, NC 28105
Phone: (980) 939-6057
Email Jaclyn


Real Estate FAQs


FREQUENTLY ASKED QUESTIONS

SELLERS 

How long will it take to sell my home?

Due to the state of the economy and current foreclosure surge sweeping the nation, homes average 145 days on the market here in the Charlotte area. However, there are a number of factors that can influence the salability of your home. Examples of these factors include:

  1. The Listing price of your home (Overpricing your home will have detrimental effects.)
  2. Your home's overall condition  (How is the exterior appeal of your home? Clean Homes Sell!)
  3. The location of your home     (How many similar homes are selling in your neighborhood?)
  4. Current home market              (Obviously, this is a Buyer's Market, so put your best forth!)

What are the average Days on the Market (DOM) for homes selling in the Charlotte Mecklenburg & surrounding areas?

The average Days on the Market for homes, prior to selling in the Charlotte Mecklenburg is 120 days. Keep in mind, this is the median number. Statistics have shown that 90% of my listings were under contract in 60 days! 

How can I determine the best listing price for my home?

By requesting a Comparative Marketing Analysis CMA) from a real estate professional, you can best determine the listing price for your home. Keep in mind, that there are many factors that determine the overall price a buyer will be willing to pay for your home.

There have been many cases where two identical homes (in relation to square footage and building plan) in the same neighborhood sell for totally different prices. The condition of the home is very important. Also, factors such as other distressed (foreclosed) properties as well as the overall appeal of a neighborhood will play a significant role in what buyers are willing to pay for your home.

Most importantly, having a knowledgeable and experienced Realtor® to represent you can save you time, energy and money!

Should I replace my carpet or offer a carpet allowance?

First impressions are extremely important in this business. Believe it or not, it could cost you more to sell your home by NOT replacing the carpet. Here's Why: When buyers view properties, they are serious and ready to make a decision. REALTORS® representing buyers will have educated them on what a home's condition should reflect. Your home is competing with many other homes all throughout the area. One simple flaw such as stained or worn carpet can eliminate your home from obtaining a decent offer, or better yet--an offer at all. Even though you may be willing to replace the carpet, many Buyers don't want to deal with the hassles associated with this. 

What are the benefits of offering a Home Warranty?

A Home Warranty provides the buyer(s) with added peace of mind. It extends coverage to specific items such as the electrical, heating and air-conditioning components of the home. This is great selling tool to offer, especially in markets where there are a variety of home builders. New homes offer these warranties, so to stay competitive, sellers should offer a home warranty on their home as well.

Why do I pay a commission for you to sell my home?

The commission covers services I provide, in addition to the operating and overhead expenses my practice incurs. Keep in mind that these services are rendered prior to me getting compensated & the expenses generated to list your home are billed to my practice immediately.

Examples of My Services Include:

  1. Creating Your Custom Marketing Plan
  2. Implementing Your Marketing Plan
  3. Creating Brochures for Your Home
  4. Designing a Virtual Tour For Your Home
  5. Marketing Your Home Both Locally & Nationally
  6. Providing Detail Showing Reports for Your Listing
  7. Managing the Entire Process from Listing to Close

Do buyers prefer to view furnished or vacant homes?

More than often, Buyers typically prefer to view furnished homes. Having furniture within the home provides the prospective buyers with an overall sense of space availability and furniture layout. This is why having a nicely, decorated home is extremely appealing in today's home market. Professional Home Stagers are available to help sellers maximize their profits by helping them organize, decorate and stage the home appropriately for selling. This is the same concept builders implement to sell their products. By enlisting the help of professionals, their model homes are fabulously decorated and ready to sell!

Currently, our professional Home Stager, Cheryl Cox helps to sell many homes throughout the Carolinas. Her award-winning portfolio provides excellent examples of her accomplishments in helping sellers achieve success in selling their home!

What is a clear title?

A clear title is simply a title that is free of liens or legal questions regarding the ownership of the property.

 

 

FREQUENTLY ASKED QUESTIONS

 

BUYERS

 

Should I consider a home inspection on the house I'm planning to buy?

Definitely. Even if you are building a new home!

How are you, as my Buyer's Agent compensated for your services?

Typically, Buyer's Agents are compensated by the listing agent or home builder. Home Builders are more than willing to compensate Buyer's Agents because they are fully aware of the professional benefits associated with having clients who are represented by real estate professionals.

Additionally, Listing Agents establish agreements indicating that they are more than willing to contribute a portion of their commission  with Buyer's Agents in return for them providing a  qualified buyer whom they are willing to personally represent to purchase the home they've listed.

So in essence, buyers who use the services of Buyer's Agents receive outstanding representation at no cost to them, as well as an agent who is knowledgeable of the real estate process and will incorporate the buyer's best interests.

Why should I seek "Pre-Approval" as the first step to homeownership?

First of all, "Pre-Approval" is the process in which the Buyer meets with a mortgage lender to:

  1. Determine if he or she can purchase a home based upon the credit report.
  2. Identify how much he or she can afford based upon the credit report, debt-to-income ratios and his or her personal lifestyle.
  3. Establish the time frame in which the customer wants to purchase a home.
  4. Discuss the various mortgage loan products/options available to the client.
  5. Determine the estimated amount you will need for a down payment.

Without a doubt, all of these processes are critical, as they provide the foundation for the entire home buying process. Without this step, the client lacks a true understanding of where they stand in the home buying process. Imagine the time and effort spent looking at homes only to discover that the homes are not suitable for your budget?

Moreover, many Realtors® require a pre-approval before showing homes to you. Also, home builders as well as sellers require a pre-approval letter when placing an offer to purchase.

How can I live in Charlotte AND avoid high property taxes for my home?

Believe it or not, there are places in Charlotte where homebuyers can save tremendously on residential property taxes. Several areas throughout are considered located within the "County" and have yet to become annexed for the "City" of Charlotte. As a result, homeowners within these areas only pay "county taxes." This, in return saves them a bundle annually!

Often times, many prospective homeowners are not aware of this, and believe that they must stay in neighboring cities of Charlotte in order to save on taxes. This is another reason why it is beneficial to hire a Realtor® as your Buyer's Agent to fully educate and represent you.  

I'm interested in purchasing foreclosures, can you help me?

Yes! I have extensive experience in HUD foreclosed properties, pre-foreclosures and bank owned foreclosures.

Who selects the closing attorney, date and time?

Typically, the buyer selects the closing attorney, the date of the closing, and the time the closing will take place. As your Buyer's Agent, I will manage the entire closing process. There are several key pre-closing steps that must be completed in order for the closing to successfully take place.  As a valuable member of my team, our Closing Coordinator will coordinate all the details associated with your closing, according to your needs.

What is an Earnest Money Deposit (EMD)?

A good faith deposit made by the prospective home buyer to reflect that he or she is serious about buying the home. When closing takes place, the deposit is credited to the buyer on the HUD-1 settlement statement.

What is the closing process?

In North Carolina the closing process is a meeting where all of the documents needed to complete the real estate transaction are signed and money changes hands. Also, the deed is recorded as required. 

Overall, this process involves both parties {the seller(s) and the buyer(s)} meeting to complete the real estate transaction. During this time, the closing attorney will present the HUD-1 statement to both parties and their real estate agents. This statement will reveal the costs associated with completing the transaction for both the seller(s) and the buyer(s).

Additionally, both parties will sign the corresponding documents necessary to complete the sale. The buyer(s) will also be presented with and asked to sign the documents needed to receive the loan (if applicable) set forth by the mortgage company providing the loan.