Working with first time home buyer's or seller's we often hear the phrase "Sorry for asking so many questions". But let me tell you here first, please ask away! We Realtors® would much rather see client's ask questions & gain knowledge throughout the transaction instead of being confused & often upset because they feel they were not informed fully. Here is an overview of commonly asked question's for both buyer's & sellers
Buyer's Question's:
How do I know how much I can afford? This depends of course on your income & other financial obligations. To get an idea there are many mortgage calculators available to get a ballpark number, however it is always best to meet with a professional bank or mortgage broker to get pre approved for a loan amount. If your unsure where to start call your real estate professional.
How many houses should I view before deciding? This is 100% up to you the buyer and if you are comfortable with moving forward. Some people take hours to find their dream home others take months. With online marketing buyers view far less properties than in the past but this doesn't mean you shouldn't consider all your options.
Do buyers pay their realtors commission? Sellers are in charge of paying a set percentage of the sale price that the buying & selling realtor's split. This often is considered when setting a list price.
Do I have to view each house with the listing realtor of that property? No, despite working for different companies a realtor has the ability to show all active listings on the MLS, no matter the listing company.
How long does it take to buy a home? Depending on the sellers the average start to finish is roughly 30 to 45 days. Depending on the situation possession can fluctuate.
What other costs should I expect? There are many fluctuating costs associated with this process. In most cases you should expect costs of a initial deposit, a property inspection, lawyer for closing costs, moving costs & any initial upfront costs associated with the specific property. For a more specific list ask a local agent to help iron a rough estimate.
Seller's Questions:
When is the best time to sell my house? This question does not have a generalized answer. Every market is different and therefor differs from place to place. Make sure to ask your Realtor® for their professional opinion.
How do I prepare my home to sell? There are multiple was to ready your home for the market. A simple system to get your home show ready is focusing on the "3 D's"; Declutter, Depersonalize & Deep Clean.
What is important to tell potential buyers? Buyers are always interested in knowing some house history, try to compile a little "cheat sheet" for the counter tops that buyers can snoop through. This will also show the buyers you are organized. If there is anything that doesn't work or needs to be fixed always get this done before listing to avoid any issues come inspection.
Should I be present when my property is being shown? The easy answer is no! There are many reasons why you shouldn't be present but the biggest reason is you always want the buyers to feel comfortable and free to speak their mind in their potentially future home.
These certainly are not the only frequently asked questions however they start a good flow in the mind for the creation of more questions. For any other questions or elaboration on the ones above feel free to contact me anytime and I'd be happy to provide you with information & answers you are looking for!
*Please note this blog is opinionated content and may differ from professional to professional*