No Zoning Issues or Liens It's crucial to research a potential investment for any zoning issues or liens on the property. If the property doesn't have the right zoning, it may not be usable for your original plans. Additionally, your intended property should not have any liens on it as it could cut into your return on investment.

No Expensive Repairs If a property doesn't have any significant structural issues, it's probably worth submitting an offer, especially if the price is right. Even if the property has a slightly outdated kitchen, you don't have to replace it if it's still functional. It's okay to remodel as your budget allows, but you must ensure the property is profitable before investing any more money than necessary.

Priced Near Assessed Value If a property is priced at or below the county assessed value, it's a great deal! Market value is typically 10-25% above the county assessed value. However, be cautious as a property priced far below market value may have some damage or some other reason why it's priced so low.

Passes 1% Rule of Thumb Real estate investors use a general rule of thumb to determine if the price of a property is a good deal. They say that the property should rent for about 1% of the purchase price. For instance, if a property should rent for about $1,400, then the ideal purchase price would be about $140,000 for it to turn a profit. To use this rule, you must analyze the fair market rental potential of the property.
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Curb Appeal If the property already has fairly decent curb appeal, then that's a bonus! It could save hundreds or thousands of dollars from potential renovation costs. It's important to take a look at the overall silhouette of the home and ensure it looks square and healthy. Another crucial factor of curb appeal is a straight roofline. Any sloping or mismatching roofline may indicate structural issues. Different siding treatments on the home may also indicate an addition that may have structural issues.

No homeowner wants to see cracks in their foundation. Foundation cracks will affect the value of your home. Fortunately, some cracks are not as severe as others. Foundation cracks occur in all shapes and sizes. Homeowners must know the difference between a minor crack and a foundation crack that could be a severe problem.
What Are Vertical Foundation Cracks on a Property?Foundation settlement can cause several types of foundation cracks.
Vertical Foundation cracks are those that run up and down your foundation walls. These cracks are the least problematic, and you can repair these cracks quickly and easily. 
Vertical cracks are typically smaller than ⅛ inch in width. Concrete shrinkage can cause these cracks in your basement walls, and you usually notice them towards the middle of the walls. You should cover cracks until you can repair them to prevent bugs and water leaks.
If you notice larger vertical cracks in different areas, it may be an indication that you need to contact a professional. You should get a foundation contractor to determine the cause of the damages.
Horizontal foundation cracks are more severe and are often caused by hydrostatic water pressure against your foundation wall. You will often find horizontal cracks in a block foundation, and a frost heave will contribute to unbalanced pressure against your foundation walls.
Stair step cracks are common in block foundations. You will find these cracks along the mortar joints, which are generally caused by foundation settlement or shrinkage. These types of cracks can pose a severe threat to the structural integrity of your house. A call to your local foundation contractor is in order.
Hairline cracks are common in new construction, and you will notice these small cracks within a year as your new home’s foundation settles and dries. Repairing hairline cracks is an easy diy project for most homeowners, and you can cover most hairline cracks with a coat of paint.
Diagonal cracks do not cause structural problems, and they occur with the natural settling of the foundation. Owners can repair a diagonal wall crack with epoxy injection.
Shrinkage cracks occur as your foundation settles and loses moisture. New constructions are prone to shrinkage cracks within the first year. Check your warranty because it may cover the crack repair.
A non-structural foundation crack is relatively common and does not threaten the house’s structure. Homeowners may find that rainwater and melted snow leak into the basement through these cracks.
Structural foundation cracks are the most serious. These are horizontal cracks and cracks that are wider than 1/4 inch. Movement of the house causes these cracks, and changes in temperature, soil pressure, and shrinkage can contribute to this movement.
These cracks will take more than an epoxy injection, and you need to install carbon fiber countersunk staples or straps for support.
Some cracks are more problematic than others. If you have any doubts, your best bet is to ask for a free inspection by a foundation expert, and they will provide you with a free quote detailing the foundation repair cost. Sometimes, the wisest route is to have a professional foundation contractor repair the damage, and most companies will warranty their repairs.
How To Identify Vertical Foundation CracksVertical foundation cracks are standard, but it is essential to identify their cause and repair them.
You may see vertical cracks in masonry between two structures. This damage often happens due to differential settlement or thermal movement. Homeowners may see this when they add an extension to their home, which can be dangerous if not properly addressed.
There are also very straight vertical lines or wandering lines in poured concrete. These occur as the concrete shrinks and do not threaten your concrete foundation’s structural integrity.
Vertical foundation cracks that are straight and found near the end of the walls can be dangerous, and these cracks can lead to an eventual collapse.
You might also see vertical foundation cracks that are wider at the bottom. Foundation settlement due to a frost heave will cause these. These cracks are not serious unless you find them in a brick wall.
Can You Fix Foundation CracksYour foundation surrounds your basement and crawlspace, which is essential for supporting the weight of your house. When you see foundation damage, you must address it immediately. Homeowners will be happy to learn that they can quickly fix most foundation problems.
You can have a structural engineer inspect your foundation to ensure there is no threat to the structural integrity of your home. They can identify the type of cracks and the cause of the damage, and they may have suggestions to prevent further cracks.
Homeowners can fix hairline cracks with a coat of masonry paint. You should monitor larger cracks for several months to see if they get any bigger. If there is no change, you can fill it with grout using a putty knife.
You can fix a crack that is more significant than 1/8 of an inch by filling it with a caulk that works with concrete. Apply the caulk and smooth it over, making a smooth finish. You may have to apply it several times until the wall is smooth.
You may notice water leaking through the cracks, so waterproofing becomes your priority. You should install gutters and downspouts to keep moisture from your foundation walls. Apply a sealant to the cracks.
When you notice any more than 1/2 inch wide crack, you should have a professional inspect the problem. You may be able to fix the crack yourself, but you should be sure that you can recognize the signs of a bad foundation.
How To Fix Vertical Foundation CracksVertical and more minor hairline foundation cracks are the easiest to repair. They do not necessarily need to be repaired, but if you plan to sell your home, it is best to have a foundation free of cracks.
There are some instances in which you should immediately repair the crack. When you see rainwater seeping through the crack in your basement, you should immediately make repairs. Standing water in your basement can contribute to mold and mildew.
You should definitely make repairs if you see any bricks or cement blocks that have moved. Cracks that extend through the brick or block should be addressed quickly.
Homeowners should inspect their foundations regularly. If you notice that cracks are growing, investigate further, as this could be a sign of a more severe problem.
If you notice a foundation wall bowing inward, you should contact a foundation contractor immediately. Bowing can be a sign that your foundation is headed for collapse.
You can hire a professional foundation contractor to repair the cracks, but it is an easy fix. Ensure that the crack is completely dry, inject urethane caulk, or use an epoxy concrete repair kit.
How To Sell a House With Vertical Foundation CracksHomeowners considering selling and knowing they have some issues with their basement foundation should contact a structural engineer for an inspection. Foundation problems will limit the number of buyers for your home, and lenders often refuse a mortgage for a home with foundation issues. Both selling a damaged house and selling a condemned house can be challenging, and an engineer’s report will be crucial to the successful sale of your home.
The engineer can identify problems and recommend the best way to repair them. They may find vertical cracks, which are not a serious problem. Even though homeowners can quickly fix vertical cracks, having a professional do the repairs is better. Most foundation companies will offer a warranty for their repairs which is transferrable to the new owner.
The engineer’s report, along with the receipt for the repair, can ease the mind of a potential buyer and their lender.
Some buyers will be hesitant to buy when they know about foundation cracks. Homeowners may have to negotiate their price to convince the buyer that the damages are not a problem. Savvy buyers will know they can use the foundation issues to lower the asking price.
Some buyers, such as house flippers or real estate investors, look for houses with foundation problems that they can quickly fix. You can sell a house fast in Charlotte and not worry about repairing the foundation.
If your foundation has only a few minor vertical cracks, you should repair them before putting your house on the market or contacting we buy houses in Monroe.
If there are a significant number of vertical cracks or other types of more severe cracks, you need to decide whether it is worth it to fix them or not. You could sell your house to a company like cash home buyers in North Carolina and not worry about the cost of repairs.
Conclusion paragraphEvery home will have foundation cracks at one time or another. Homeowners must learn to recognize the types of cracks and their seriousness. Your foundation is one of the essential parts of your house; it supports your home and ensures that you are safely sheltered. You should ensure that the structural integrity of your foundation is maintained.

Are you looking to complete a home sale in North Carolina? If so, you will need to determine the closing costs you're bound to pay by the closing date. A few estimated closing costs for sellers include prorated property taxes, transfer taxes, a real estate agent commission fee, and recording fees.
You will also likely need to cover real estate attorney fees and appraisal fees after an appraiser determines your home's value. To complete the real estate transaction, you're also likely required to have a home inspection. The buyer may cover the home inspection fee, but sellers may also pay for it to incentivize a skeptical buyer.
Along with possible seller concessions, the seller's closing fees may include paying escrow fees to an escrow company. To learn more about the different types of closing costs and whether the buyer or seller covers certain fees, keep reading. Let's get started!
Different Types of Closing Costs Closing costs cover a variety of services and paperwork requirements when buying a real estate property and applying for a mortgage loan from a lender. For instance, it covers the commission fee of the real estate agent who helps you find home buyers and complete the home sale.
Homeowners amid the home selling process will need to cover the costs of a title search to ensure a clear title. Home buyers, however, will need to pay for the home appraisal as part of their closing costs.
Another major part of seller closing costs is the 5 or 6 percent of the real estate agent commission fees. That percentage relates to the total home sale price. If you sell your property for $300,000 and your realtor fee is 6 percent, you'll have to pay a commission fee of $18,000 on closing day.
That fee covers the buyer's agent commission cost as well as the seller's agent price. Other closing costs when selling a typical single-family home include:
Loan origination fees Home loan application fee HOA fees up to your closing date Credit report fee Underwriting price Mortgage points Real estate lawyer payments Transfer taxes Buyers and sellers tend to split closing costs, but you can expect to pay as much as 6 percent in closing costs based on the home's purchase price.
Now, who generally covers the majority of the closing costs? We will answer that question below.
Who Typically Pays Closing Costs Who pays the closing cost in North Carolina? Both the home buyers and sellers cover portions of the closing cost.
Yet, what is the difference between the seller and buyer closing costs? That may depend on your specific real estate transaction as well as the region you're in. Talk with your listing agent to determine the amount of your closing cost and whether you should negotiate seller concessions.
The buyer closing costs will surely cover everything related to the mortgage lender and the mortgage loan. That may include the down payment for the new home and other mortgage payments outlined in the Closing Disclosure form. Buyers get that form from their mortgage lender.
Other common closing costs for a first-time home buyer include the home appraisal fee and a home inspection cost. Furthermore, both the buyers and sellers pay prorated property taxes depending on when the transfer of the homeownership takes place.
The 2019 Tax Cut and Job Act created a $10,000 cap on state and local income tax deductions, including property taxes. Homeowners' association fees also need to get paid by the seller when homeownership hasn't been transferred yet. Once the house sale is complete, the buyer takes on HOA fees.
Furthermore, buyers will need to pay for private mortgage insurance upon closing if their down payment reached less than 20 percent. In addition, the buyers will have to pay for title insurance to the lender to cover potential costs associated with title claims.

​Selling a rental property in North Carolina requires compliance with various laws and regulations that property owners must consider. The tenant's rights must be respected, and legal requirements regarding property taxes must be met. The sale of a rental property in North Carolina is possible, even if the tenant's lease has not expired, but the tenant cannot be evicted. The buyer will inherit the seller's landlord role and comply with the existing lease agreement until it expires. Property owners who intend to sell their rental property should seek legal advice from a lawyer who can advise them on their rights and those of the tenant.
When selling a rental property in Charlotte, NC and surrounding areas, there are some dos and don'ts that property owners should observe. The property owner must honor the lease agreement and comply with tenant protection laws. If the property owner does not want to sell an occupied rental property, they can try to reach an agreement with the tenant to terminate the lease agreement. It is necessary to disclose the tenancy agreement to potential buyers and set up a meeting with the tenant if the property is occupied. A loyal tenant who pays rent on time can be a selling point. On the other hand, the property owner must not force the tenant to terminate the lease agreement. The property owner must not sell the rental property before owning it for at least a year, unless they have no other choice.
There are two legal areas to consider when selling a rental property in Charlotte, NC and surrounding areas. These include tenant rights and property taxes. Under North Carolina law, the lease agreement cannot be arbitrarily terminated unless the tenant breaches the lease terms, or the tenant agrees to an early termination. When it comes to property taxes, a capital gains tax is applied to investment property. Long-term capital gains tax applies if the property owner has owned the property for more than a year, while the short-term capital gains tax applies if they have owned it for less than a year. The IRS provides an exemption to the capital gains tax if the property owner lived in and used the property as their primary residence for at least two years. A like-kind exchange is another way to avoid paying capital gains tax.
The law protects the tenant's rights when selling a rental property in Charlotte, NC and surrounding areas. The tenant must receive ample notice before being evicted. Under North Carolina law, the notice must be 7 days for weekly rentals, 30 days for month-to-month rentals, and the lease's length for shorter rental agreements. If the tenant fails to pay rent or engages in criminal activity, the landlord can terminate the agreement with proper notice, usually five, 14, or 30 days, depending on the lease agreement.