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Buyers FAQs

Buying a home can be a stressful situation, requiring much research, thought, and documentation before purchasing. There are many resources available to home buyers to ease the process and ways to make buying a home a pleasant experience.

 

General Questions

Q: I have never purchased a home before. Where do I start?

A: You have already started! Beginning with research about homes currently on the market and real estate trends is a great way to get an idea of what the market is like. You should also review your personal finances and eliminate any debt you can. Your next step is to contact us. As local real estate experts, we are here to assist you every step of the way!

 

Q: Do I need a real estate agent?

A: A buyer’s agent will have a working knowledge of the current market and real estate trends. Though not necessary, many buyers choose to work with a real estate agent due to that added knowledge. A buyer’s agent can assist with contract negotiations and know what type of questions to ask about the property that you may not have thought of.

 

Q: How much money do I need up front?

A: There are typically two upfront costs that a buyer will pay: earnest money deposit and down payment.  The earnest money shows the seller that you are

 

Q: What will my Closing Costs be?

A: Closing Costs will depend on a few different factors, such as price of the home and mortgage type. As a rule of thumb, Closing Costs are typically 3% – 6% of the sale price. Contact us for more details on what items the buyer is usually expected to pay at closing.

 

Q: Who pays real estate agent commissions?

A: The seller typically pays real estate commissions. Our valuable services are free to buyers.

 

Q: How do I know if the house I want to buy is a good deal?

A: We provide a complimentary Comparative Market Analysis of any home you are interested in so you can make decisions based on factual market data, not emotions.

 

Q: How long does it take to buy a home?

A: This process is different for every buyer. Once you have found a home and placed a successful offer, closing time depends on several factors such as what type of financing you are purchasing the home with and what type of sale the home is. For example, a traditional sale will be quicker than a foreclosure or short sale. A foreclosure typically takes around 45 days and a short sale may last 3 months or longer.