First-time homebuyers · Raleigh & the Triangle
What can you comfortably spend? What happens after an offer? And what does “due diligence” mean for your money? Let’s work through it.
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Before the first tour
A lender can discuss what you qualify to borrow. You decide what leaves room for the rest of your life.
Include principal and interest, property taxes, insurance and any mortgage insurance or association dues. Ask which costs are included in the lender’s estimate and which you pay separately.
Ask: “What would my total monthly housing cost be for this address?”
Plan for the down payment, closing costs, inspections and contract deposits. Ask your lender and agent when each payment is due and which amounts are credited at closing, so you don’t count them twice.
Ask: “How much do I need, and when do I need it?”
Decide what to keep available for moving, repairs and other unexpected expenses. A purchase price can fit the loan and still feel uncomfortable once you move in.
Ask: “What will I have left after closing?”
A preapproval is a lender’s tentative offer to lend, based on information reviewed so far. It is not a guaranteed loan. Ask about conditions, the expiration date and what still needs approval.
Read the CFPB’s preapproval guide ↗Before you tour
Before arranging tours, talk through your written buyer agreement. NAR’s policy requires MLS participants working with a buyer to have one before touring a home together.
Visiting an open house on your own or asking an agent about their services doesn’t require that agreement under NAR’s guidance.
Read NAR’s buyer-agreement guide ↗Discuss the services included, when representation begins and whether the agreement limits working with other agents.
Fees are negotiable. Review the amount, who may pay and your responsibility if a seller contribution doesn’t cover it. Seller payment is not automatic.
Read the start and end dates and the conditions for changing or ending the agreement before signing.
Before you make an offer
Discuss the price alongside financing, any requested seller-paid costs, the due diligence fee, earnest money, the investigation period and closing date. Consider the home, your finances and what is known about other offers.
Ask your agent: “Which terms fit this home—and what could put my money at risk?”
Ready to discuss an offer? Explore the offer guideNorth Carolina · Before you sign
Under North Carolina’s commonly used Offer to Purchase and Contract, the due diligence fee and earnest money have different jobs. Review your actual contract with your agent and closing attorney.
A negotiated fee for the opportunity to investigate the home and transaction. If you terminate during due diligence, it is generally not refunded, subject to the contract’s exceptions. It is credited toward the purchase price if you close.
A separate deposit. A timely written termination during the due diligence period generally allows its return. After that deadline, it may be at risk. The contract controls the conditions for its release.
Plan time for inspections, financing, appraisal, document review and any repair discussions. Don’t assume a loan problem or an inspection finding automatically cancels the contract or returns your money.
The home and the day-to-day
Bring the same questions to a Raleigh condo, a Cary townhome or a house farther out in Wake County. The answers belong to the specific property.
Check the property’s taxes, insurance, utilities and maintenance needs. For a condo or HOA property, review current dues, what they cover, your responsibilities, restrictions and planned assessments. The monthly dues alone don’t tell the whole story.
Bring the documents to your agent, attorney and insurance provider.
If you’ll travel from Buffaloe Road to downtown Raleigh, test that trip. If your destination is Research Triangle Park, test that route instead. Visit at the times you expect to travel and check the errands you make regularly.
A city name or “near RTP” label is only a starting point.
Ask a licensed inspector about the home’s condition and any specialist evaluations. For a property with a well or septic system, discuss those inspections too. A new or renovated home still deserves an inspection.
NCREC’s buyer investigation guide (PDF) ↗Your first-home checklist
Check what you’ve worked through. Leave the rest as questions to bring to your lender or agent.
Checks stay in this browser tab. They don’t assess loan eligibility or send an inquiry.
Copy this list into your notes or share it with your agent.
Financing questions
Ask a participating lender about current eligibility, available funds, repayment rules and the total cost of the loan. Assistance programs have conditions; “first-time buyer” alone doesn’t establish eligibility.
When a home is under contract
A real conversation
Tell the Raleigh Realty team what you’re working through: a starting budget, an area, a home or an unfamiliar contract term.
HomesRaleigh connects you with Raleigh Realty, serving Raleigh and the Triangle.
Meet the team →Read client experiences →Browse homes →Guide reviewed September 21, 2026. This guide is a starting point; your contract, property and financing require their own review.
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