FAQs
How do I choose the right realtor?
Look for a realtor with strong local market knowledge, positive reviews, and experience in transactions like yours (buying or selling). Schedule interviews to ask about their strategies and communication style to find a good fit.
How long does it take to buy or sell a home?
On average, buying a home can take 1-3 months, while selling a home usually takes 2-4 months, depending on market conditions and the transaction process.
How do I know if I’m getting a fair price for a home?
Your realtor can provide a comparative market analysis (CMA) to ensure the home is priced competitively based on similar properties in the area.
How can I find out exactly what my home is worth?
A realtor can help a homeowner find their home value by conducting a comparative market analysis (CMA), which involves examining similar properties in the area that have recently sold. This analysis considers factors such as location, size, condition, and current market trends to provide an accurate estimate. Additionally, realtors can leverage their experience and local market knowledge to offer insights and recommendations that may enhance the home's value.
Who pays the agent’s commission?
Typically, the seller pays the commission for both their agent and the buyer’s agent, which is usually a percentage of the home’s sale price. It is fully negotiable on all sales.
Per the recent National Association of Realtor’s lawsuit, there have been some changes to this process. I’ll be happy to walk you through those changes.
What is the first step to starting a home search?
Get pre-approved for a mortgage. This helps you understand your budget and shows sellers you’re a serious buyer. A pre-approval from a local, experienced lender will also help you understand your out of pocket costs as well as your monthly payment
Do I need to stage my home to sell it?
While not required, staging can make your home more appealing and help it sell faster. A clean, decluttered space with neutral décor is key.
Can I buy or sell a home without a realtor?
Yes, but it can be challenging. Realtors offer expertise in pricing, negotiations, contracts, and market trends, which can save you time and money.
What’s the difference between pre-approval and pre-qualification?
Pre-qualification is an estimate of your borrowing power based on self-reported info, while pre-approval is a lender-verified amount you can borrow, making it more reliable when house hunting.
What costs should I expect when buying a home?
Beyond the purchase price, buyers typically pay for closing costs (2-5% of the home’s price), inspections, and moving expenses.
Do I need a realtor to purchase a new construction home?
A realtor provides essential expertise when purchasing a new construction home. They understand the builder’s processes, which allows them to negotiate effectively on your behalf. Realtors are familiar with the nuances of new builds, including construction quality, warranties, and potential hidden costs. They can guide you through the paperwork and legalities, ensuring that your interests are well-represented throughout the process. Additionally, a realtor can offer insight into builder reputations and community developments, helping you make an informed decision. Overall, their support can lead to a smoother and more successful home-buying experience.
What is a home inspection, and why is it important?
A home inspection identifies potential issues with the property, like structural or mechanical problems. It’s critical for making an informed decision.