Frequently Asked Questions For Buyers & Sellers
We know there are tons of questions that come to mind when you’re buying or selling a home!
Over the years, we found that buyers & sellers we work with ask similar questions. We answer all of those questions below.
Q: What is the first step I should take if I’m thinking of buying a house?
A: The best first step is to meet with a mortgage lender. This will provide a lot of insight. You may learn there are a few things you need to take care of, but you may also find out that you are ready to begin The fun part of home buying. REALTORS® always know the best lenders are, so reach out for a recommendation if you are not sure.
Q: What is the sequence of events that take place when buying a home?
A: Once you are pre-qualified by a lender, it is time to meet with your REALTOR(r) to go over your home buying objectives and wishlist. From there you see several homes that would meet your needs and make an offer on the one you love. A negotiation ensues until both parties are satisfied with the terms of the agreement. Inspections are scheduled and completed, and the second negotiation regarding repairs takes place. Meanwhile, the lender is working on the loan. The appraisal is completed to satisfy the lender’s due diligence, and then it’s time to celebrate your closing!
Q: Who pays the REALTORS?
A: Generally the commissions for both agents are paid by the seller at closing.
Q: Why do I have to take my family photos down when selling my home?
A: When marketing your home, the objective is to create an environment that makes it really easy for buyers to imagine themselves living there. Seeing photos of someone else’s family limits the amount of daydreaming they are able to do because the photos serve as a constant reminder that it’s someone else’s home.
Q: Why is my home not the same price as my neighbors?
A: Many different factors go into valuing a home, but appraisers often use price per square foot as a guide. Though a home may have some upgrades, the house next door that is more square feet, it will likely be able to command a higher price.