FAQ
Common questions home buyers ask:
The first step is getting pre-approved for a mortgage. This gives you a clear idea of your budget and shows sellers you’re a serious buyer.
It depends on your loan type. Many buyers put down 3% to 20%, but there are programs that offer even lower down payment options.
Closing costs are fees related to finalizing the home purchase (like lender fees, title insurance, etc.). Buyers typically pay 2–5% of the home’s price, though sometimes sellers may cover part of it during negotiation.
Absolutely. A licensed agent advocates for your interests, helps you navigate paperwork, negotiates on your behalf, and guides you through the entire process.
On average, it takes 30 to 60 days from the time your offer is accepted to the closing date. The timeline may vary depending on financing and inspections.
Pre-qualification is an estimate of what you might afford, while pre-approval is a verified statement from a lender confirming how much you’re eligible to borrow.
Beyond aesthetics, pay attention to the condition of major systems (roof, HVAC, plumbing), storage space, natural lighting, neighborhood, and commute times.
Yes, though your options may be limited. Some lenders offer programs for buyers with lower credit scores, often with higher interest rates or additional requirements.
Earnest money is a deposit made to show you’re serious about buying the home. It’s usually 1–3% of the purchase price and goes toward your closing costs or down payment.
A licensed inspector checks the property’s condition, including structure, systems, and safety issues. You can then request repairs or negotiate on the sales price based on the results of the inspection.
Common questions home sellers ask:
Spring and early summer are typically ideal, but homes sell year-round. The best time really depends on your local market and your personal situation.
A real estate agent will provide a comparative market analysis (CMA) that reviews recent sales of similar homes in your area to help set a competitive price.
Declutter, clean thoroughly, complete minor repairs, and consider staging to highlight your home’s best features. First impressions matter!
While not always necessary, fixing obvious issues can make your home more appealing and reduce the chances of negotiations falling through after the inspection.
Market conditions, location, price, and home condition all play a role. On average, well-priced homes sell within 30 to 60 days.
Sellers typically pay agent commissions (usually around 5–6%), title insurance, and other transaction fees. Your agent can provide a net sheet to estimate your proceeds.
It’s best to leave during showings. Buyers feel more comfortable exploring the space and asking questions when the seller isn’t home.
Yes, and many homeowners do! Your agent can help coordinate timing, financing, and contingencies to make the transition smoother.What is a buyer’s home inspection and how does it affect me?
Buyers typically hire an inspector to assess the home. If major issues are found, they may request repairs, credits, or even back out depending on the contract terms.
If the appraisal comes in low, you may need to renegotiate the price, have the buyer cover the difference, or challenge the appraisal with additional data.
