How to Buy a House in North Carolina
Updated 2026-03-02 | Data from Zillow, HUD, Tax Foundation
Avg Home Price
$339,287
Closing Costs
$11,764
3.47% of price
Property Tax Rate
0.62%
$1,798/yr median
Days on Market
35
Median
FHA Loan Limit
$472,030
Attorney Required
No
Foreclosure Type
Non-Judicial
Transfer Tax
0.2%
$1.00 per $500
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Key Facts About Buying in North Carolina
- ✓Attorney required at closing
- ✓Fast-growing Charlotte and Raleigh-Durham markets
- ✓Non-judicial foreclosure despite attorney requirement
- ✓Moderate property taxes and closing costs
The Home Buying Process in North Carolina
Buying a home in North Carolina follows a 10-step process. North Carolina does not require an attorney at closing, though you may choose to hire one.
1
Check Your Credit Score & Finances
2
Get Pre-Approved for a Mortgage
3
Find a Real Estate Agent
4
Search for Homes & Make an Offer
5
Get a Home Inspection
6
Secure Your Financing
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First-Time Buyer Programs in North Carolina
NC Home Advantage Mortgage
Below-market rates with down payment help
Up to 5% of loan amount in DPAIncome: Up to $124,000
Cost of Buying a Home in North Carolina
| Down Payment (3.5% FHA) | $11,875 |
| Down Payment (20% Conventional) | $67,857 |
| Average Closing Costs | $11,764 |
| Transfer Tax | $679 |
| Annual Property Tax (est.) | $2,104/yr |
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Legal & Regulatory Details in North Carolina
Homestead Exemption
Available
Up to $35,000
Licensing Authority
North Carolina Real Estate Commission
North Carolina Real Estate Law Overview
| Conveyance Document | Warranty deed (special-warranty or non-warranty possible) |
| Security Instrument | Deed of trust; mortgage sometimes used |
| Foreclosure Process | Non-Judicial |
| Attorney Required at Closing | No |
| Deficiency Judgment | Conditional |
| Redemption After Sale | Yes |
| Reinstatement Available | No |
| Seller Disclosures | A state-provided form covering liens, environmental hazards, pets, homeowners'-association fees, malfunctioning appliances, water/sewage issues and structural problems must be delivered before the buyer makes an offer. Only known issues need to be reported. |
