How to Buy a House in North Carolina: Step-by-Step Guide
Follow these 10 steps to navigate the home buying process in North Carolina. North Carolina does not require an attorney at closing.
Check Your Credit Score & Finances
Review your credit report, calculate your debt-to-income ratio, and determine how much you can afford. Most lenders want a credit score of 620+ for conventional loans, or 580+ for FHA loans.
Get Pre-Approved for a Mortgage
Contact multiple lenders to compare rates and get a pre-approval letter. This shows sellers you're a serious buyer and tells you exactly how much you can borrow.
North Carolina Note: The current FHA loan limit in North Carolina is $472,030.
Find a Real Estate Agent
Work with a licensed North Carolina real estate agent who knows your target area. Agents are regulated by the North Carolina Real Estate Commission.
Search for Homes & Make an Offer
Browse listings in North Carolina where the average home price is $339,287. Homes typically stay on market for 35 days. When you find the right one, your agent will help you submit a competitive offer.
Get a Home Inspection
Hire a licensed home inspector to evaluate the property's condition. This typically costs $300-$500 and can save you from expensive surprises.
Secure Your Financing
Finalize your mortgage application, lock in your interest rate, and provide all required documentation to your lender. The lender will order an appraisal.
Get Homeowners Insurance
Shop for homeowners insurance in North Carolina. Your lender will require proof of insurance before closing. Compare at least 3-4 quotes.
Review Closing Disclosure
You'll receive a Closing Disclosure at least 3 business days before closing. In North Carolina, average closing costs are $11,764 (3.47% of the home price). Review every line carefully.
Close on Your New Home
At closing, you'll sign all final documents, pay your closing costs, and receive the keys. North Carolina does not require an attorney at closing, though you may choose to hire one.
Move In & File Your Homestead Exemption
Congratulations! After moving in, file for North Carolina's homestead exemption (Up to $35,000) to reduce your property taxes.
North Carolina Legal Quick Reference
Conveyance
Warranty deed (special-warranty or non-warranty possible)
Security
Deed of trust; mortgage sometimes used
Foreclosure
Non-Judicial
Attorney
Optional
Seller Disclosure Requirements
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.
