YOUR QUESTIONS ANSWERED, YOUR JOURNEY SIMPLIFIED
Whether you're buying, selling, or staging, we've gathered everything you need to make informed decisions. Explore our FAQs and helpful resources to guide you every step of the way.
BUYERS
The first step is getting pre-approved for a mortgage. This will give you an idea of your budget and make you more attractive to sellers.
The typical down payment ranges from 3% to 20% of the home's price, depending on the loan type. Some loans allow for smaller down payments, such as FHA loans.
On average, the process can take 30-60 days from getting pre-approved to closing on a home. However, this can vary depending on market conditions and individual circumstances.
Pre-qualification gives you an estimate of what you can afford, while pre-approval is a more detailed process where the lender verifies your financial information and gives you a firm commitment on how much they’re willing to lend.
Focus on the structure and layout of the home, as well as any major systems (roof, plumbing, HVAC) rather than cosmetic details. Consider things like location, neighborhood amenities, and potential for resale value.
Closing costs typically range from 2% to 5% of the purchase price of the home. These can include lender fees, title insurance, appraisal fees, and taxes.
Earnest money is a deposit made to show you're serious about buying the home. It typically ranges from 1% to 3% of the home’s price, and it’s applied toward your down payment at closing.
While it's not required, working with a real estate agent provides professional guidance, negotiation skills, and access to the latest listings, helping you find the right home faster and often with better terms.
sellers
Your agent will perform a Comparative Market Analysis (CMA) to compare your home to similar properties that have sold recently in your area, considering factors like size, location, and condition.
The time it takes to sell can vary based on the market, location, and price. On average, homes stay on the market for 30-60 days, but a competitive price and good marketing can shorten this timeline.
Start with cleaning, decluttering, and making any necessary repairs. You may also want to consider staging your home to make it more attractive to potential buyers.
It depends. Small repairs can increase your home’s value and help it sell faster, but in some cases, selling "as is" may be a better option. Your agent can help you decide what's best for your situation.
Seller closing costs typically include real estate commissions, title insurance, prorated property taxes, and other fees. These costs usually range from 6% to 10% of the sale price.
Your real estate agent will help you compare offers based on price, contingencies, and the buyer’s financial situation, helping you choose the best offer for your needs.
If the home appraises for less than the purchase price, the buyer may request a price reduction or cancel the deal, depending on the terms of the contract. In some cases, negotiations or additional financing options may resolve the issue.
No, it’s typically best for homeowners to be away during showings so potential buyers can feel comfortable viewing the home and asking questions.
FOR BUYERS & SELLERS
A contingency is a condition that must be met for the sale to move forward. Common contingencies include financing, home inspection, and appraisal. If the conditions aren’t met, the buyer or seller can walk away from the deal.
A home inspection is a thorough evaluation of the property’s condition by a licensed inspector. It helps buyers understand any potential issues before finalizing the purchase, and it allows sellers to address concerns upfront.
In a buyer’s market, there are more homes for sale than buyers, often leading to lower prices. In a seller’s market, there are more buyers than homes, often resulting in higher prices and quicker sales.
Escrow is a third-party service that holds funds and documents until both buyer and seller have met all conditions of the agreement. Once everything is finalized, escrow closes, and the sale is completed.
MORTGAGE CALCULATOR
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