BUYER FAQ

What the first step of the home buying process?

Getting pre-qualified for a mortgage is the first step of the home buying process. Getting a pre-qualification letter from a lender get the ball rolling in the right direction. Knowing how much home you can afford narrows down online home searching to suitable properties within your budget.

How much do I need to save up for a down payment?

The idea that you have to put 20 percent down on a house is a myth. The average first-time home buyer puts just 6% down. In fact, certain programs allow as little as 0-3% down.

A mortgage lender can tell you what types of loans you qualify for.

What is Due Diligence?

“Due Diligence” is the buyer’s opportunity to engage in a process of further investigation of the property and the transaction as described in the Offer to Purchase form within a period of time agreed to by the seller and buyer. The non-refundable fee is negotiated and paid by the buyer to the seller for the right to conduct “Due Diligence”. The amount of the fee may be influenced by such matters as the market for the property, number of days on the market, personal circumstances of buyer and seller, and the length of the “Due Diligence” period.

What is Earnest Money?

The earnest money deposit is a good faith deposit and is a negotiated amount of money that is submitted once a contract is signed. This check is given to an agreed-upon escrow agent (typically the closing attorney) who deposits it into a trust account until closing.

How much does it cost to use a buyer's agent?

Buyers agents are compensated by the listing broker for bringing home buyers to the table. When the home is sold, the listing broker splits the listing fee with the buyer’s agent.

SELLER FAQ

What’s the first step in the home selling process?

The very first step of the selling process is to set up a free consultation with me to determine what your home will sell for, how we can market it in the best light, and what the process looks like.

What is my home worth?

Determining your home’s market value is one very important reason to use a real estate agent. I will do a comparative market analysis (CMA) to help you set the correct listing price. I look at recent sales of comparable homes, similar homes that are under contract, and homes that are listed in the same price range of your home. Then I compare features of the homes including the size, style, number of rooms, age of the home, amenities, condition, lot size and placement, and the location or neighborhood.

Should you price your home high just to "see what happens"?

Many sellers like the idea of “starting high” to see if they get higher offers, but this strategy isn’t usually practical. Here are a few reasons why. First, buyers may not see your listing if they use a price filter set to what they expect prices in the area to run. Second, you run the risk of the appraisal coming in lower than your contract price, which will require your contract to be renegotiated or canceled. Third, if your listing price puts your home higher than your neighborhood value, your home will likely sit on the market longer as buyers wait for you to make a reduction. It’s best to set a realistic listing price that will bring you buyers quickly. My goal is always to get you the highest possible price in the shortest amount of time.

How will the showing process work?

We will decide together on how to handle showings. We can set parameters as to the hours and days that showings are allowed, and how to notify you in advance. Homes show best when the homeowner is not present, but if this is not possible, we will work together to create the best experience for the buyer that also fits your lifestyle. Usually we use an electronic lockbox that allows buyers’ agents to access your house key. These boxes also notify me any time they are opened, so no one is accessing your home without my knowledge. If you have pets in the home that need to be tended to during showings, we will work out the best way to handle them. Furthermore, I will try to get feedback from each showing and pass that information back to you.

How long will it take to sell my home?

The length of time on market will depend upon the market in your area at the time of listing and whether the home is priced realistically. I am always working to get you the highest price in the shortest time possible. On average, a home that is priced right goes under contract in two to three months. If you need to sell fast, that should be reflected in the list price.