Process of Buying a Home in Charlottesville


Hey, Jim Duncan with Nest Realty and RealCentralVA here thinking about the process of buying a home in Charlottesville.

It’s really simple when you condense it this way and it’s actually much more complex, but for our purposes, here’s how it goes: first I think it’s important to choose a buyer broker , one who you choose and trust. With me, at some point we sign a buyer/broker agreement in the beginning of our relationship when we choose to work together.

Then it’s a matter of finding homes and searching for homes online and off and then once we start looking at homes together, really it’s important for me to see your reaction so that you can learn what you like and dislike in homes and I can read your body language and hear your comments about what you like and dislike about the home and the location, etc., etc.,

Then once you find a home that you like, we put together an offer, do the negotiating process and once we get to a contract, it’s a matter of getting the home inspection done if you so choose, septic inspection, and all this stuff done within that window. Usually that window is five to ten days for the inspection process to be over and done.

The next milestone is getting the loan commitment whereby we have the appraisal which is done by a third party where they hopefully accurately appraise the market value of the home and once we get the loan commitment out of the way, it’s a matter of proceeding to closing. At some point prior to that you will have chosen an attorney or title company to either represent you and your best interest in the case of an attorney or do the paper work for closing in the case of a title company.

There’s a video for that as well out there that I have done. So that’s pretty much it. Once we get the loan commitment, it’s a matter of waiting until closing, go to closing and then you’re done. It’s much more complex than I’ve laid out, but those are the major milestones that you have to look forward to when buying a house.

There will be more in this series, but if you have any questions, give me a call or an e-mail. Jim Duncan, (434) 242-7140 or Thanks.

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  1. Etta January 11, 2010 at 14:40

    Can you tell me what % of the sales price=closing costs?

    1. Jim Duncan January 11, 2010 at 14:47

      Etta –

      A good rule of thumb that I use that is generally accurate is 3% of the Purchase Price.


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