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Tryon Realty PartnersTryon Realty Partners

Charlotte North Carolina's premier residential real estate brokerage

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The Home Buying Process

Inspections, Appraisals and Surveys

Once the offer is accepted by the Seller, you have a contract and the Due Diligence Period commences. Time is of the essence here so generally, your Realtor will be working to line up inspections at the same time assisting your lender to order the appraisal.

The Home Inspection is not the Appraisal. The Home Inspection is the process where a licensed inspector tours the house and issues a report on the condition of the systems, structure and observes if there are any items that are in immediate need of being repaired. They can inspect for things like mold, radon, termites as well as the quality of the drinking water, septic system, and age of the roof.

Occasionally, engineers or tradespeople will be brought in to provide context or offer advice along with the inspection.

New homes should be inspected as well as older homes as a new home does not equal a perfect home. Local county permit inspectors can overlook items that should be routine and can cause issues if undiscovered.

The Appraisal is the process by which a third-party, hired by your bank, renders their opinion of the value of the house. The receive a copy of the contract beforehand and usually validate the price that’s being offered. On occasion, they will disagree with the price and offer a lower opinion. Keep in mind that in North Carolina, contracts are not required to appraise so the Seller is not obligated to lower the price or re-negotiate to an amount that’s mutually agreed upon. In South Carolina, the Buyer has the option to make the contract contingent on the property appraising.

Surveys are important to look at the boundaries of the property to ensure that there isn’t a neighboring property encroaching or an easement which can impact the use of the property. While not required, it is highly recommended that Buyer’s obtain a new survey with every purchase.

Next Up: The Closing

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RSS Listen to the At Home with Jonathan Osman Podcast

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  • The 2040 Charlotte Plan with Ely Portillo January 6, 2021
  • Preparing Your Home For Sale November 12, 2020
  • Divorce and Real Estate with Dana Lehnhardt October 26, 2020
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About Jonathan Osman

Jonathan Osman may be the most recognizable Realtor in the Charlotte area. Since 2003, he has served his clients with excellent customer service and by utilizing the latest technologies to promote his listings. In 2006, he relocated to Charlotte from the DC Metro and in 2015, he left his prior real estate firm to launch Tryon Realty Partners.

Continue Reading

RSS Listen to the At Home Podcast

  • 2020 Charlotte Real Estate Year in Review January 15, 2021
  • The 2040 Charlotte Plan with Ely Portillo January 6, 2021
  • Preparing Your Home For Sale November 12, 2020
  • Divorce and Real Estate with Dana Lehnhardt October 26, 2020
  • Understanding Due Diligence and Contract to Close October 19, 2020
  • Hiring a Realtor and Making an Offer September 30, 2020
  • The First Step to Purchasing a Home September 21, 2020
  • Why Second Home Housing Markets Are Popular Now September 9, 2020
  • Planning the Next Charlotte with Taiwo Jaiyeoba August 31, 2020
  • Greg Jackson Talks Transitional Housing / Heal Charlotte August 25, 2020

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Tryon Realty Partners

809 W. Hill St
Suite C
Charlotte, NC 28208

704-960-1725
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NC License: C31026
SC License: 21756