As we live near a military base, a lot of the mortgage loans that are used here are VA loans. Another very popular loan is the USDA loan. USDA loans are popular because they are no down payment loans. The USDA loan was set up to assist homebuyers in rural areas. Most of Fayetteville, NC is not eligible for a USDA loan. Currently Hope Mills is a favorite destination for home buyers to qualify for USDA loans (along with Hoke County). As of Oct. 1, 2013, that will change. Hope Mills growth has finally caught up with them and on the first of Oct, most of Hope Mills will become ineligible. You can go online and research the location of any houses that you might be interested in buying before you consider buying them if you plan to finance with USDA. Your real estate agent should be aware of this change and should be able to advise you. It will be a big change for this area. Make sure you do your homework and get a knowledgeable real estate agent and mortgage lender.
I work with both buyers and sellers. Each brings different challenges and rewards. I do have a question for you about buyers’ expectations. How do you guide your buyer in their expectations of seller concessions. I have run into several buyers lately that seem to feel as if they are entitled to certain seller concessions, such as all repairs completed, all closing costs paid and adding concessions as the deal progresses. Now, I admit, that in the current market climate in the Fayetteville/Fort Bragg area, that it has been a buyer’s market and the buyers have expected some, if not all, of their closing costs to be paid. But, and I emphasize this, you are not buying a new house and it will not be perfect. I feel that the purpose of a home inspection is to make sure that you are not buying anything with hidden problems. I do not think that it is a reason to make a 5 page list to expect the seller to repair every little imperfection in the house. If I am representing a buyer, then I will do everything in my power to represent and support them, but I will always caution them to proceed with common sense and prioritize their concerns. What is your opinion?