Frequently Asked Questions to most real estate agents.

Getting pre-approved will help determine how much money you can borrow to buy a home. You would begin this process by meeting or speaking with a lender or mortgage broker. I work with many lenders that offer all sorts of programs.

First, don’t be discouraged. Some lenders offer immediate credit repair and can get you where you need to be within a couple of weeks.

Yes. It is always HIGHLY recommended to get the inspection. Inspections, whether home and termite, will help determine underlying issues with a home not often seen or noticed by the average homebuyer. Even in newly constructed dwellings, an inspection is recommended.

There are different options. If the initial offer is rejected, you can submit a higher offer or an offer with different terms. You may even ask for a counter. However, if the sellers are not willing to negotiate, simply move on and continue your search for a different property.

 First and foremost, commissions are, and always have been negotiable. If the seller is offering to pay the buyer’s agent commission, then they are typically split four ways:

A: Between the sellers’ agent and their broker.

&

B: Between the buyers’ agent and their broker.

However, every agreement varies. Some sellers may not offer a buyers’ commission in which the buyer themselves will be responsible for their agents’ commission. 

The exact value of your home depends on a multitude of factors, not limited to just size and neighborhood, but also improvements made and repairs needed. An agent should perform and present a CMA (Comparative Market Analysis) of similar sized home recently sold in your area. This will determine a better market price. 

 That depends on the market. If there is a high demand, you may receive multiple offers, perhaps entering a bidding war. However, if the market is cold or there is an ample supply of homes, you may have to lower the listing price to acquire more interest. 

This also depends on the market. The average home statistically stays on the market for about 100 days (3 to 4 months). However, when there is a high demand, you may find your house receiving multiple offers within days of “going live” while some homes are an “acquired taste” and takes that special someone to peak an interest.

A staged home sells faster. Potential buyers can envision themselves living in the home if staged. If the house is occupied, remove all family photos and declutter what you can. This allows potential homebuyers more of a blank canvas.

The short answer is no. This almost always leaves buyers feeling awkward or uncomfortable and forced to refrain from necessary questions to be asked. Technology today allows plenty of time for homeowners to exit in a timely manner. Showings typically last 30 minutes to an hour with open houses two hours.

Again, commissions are and have always been negotiable. Commissions can range from 1 to 8 percent, with 6 percent the average. It is recommended, in addition to the sellers’ agent fees, to provide a buyers’ agent fee as well. For example, at 6 percent, a 50/50 split will be 3% of the sales price for the sellers’ agent and 3% for the buyers’ agent.