Question 1

What's the first step of the buying process?

Accepted Answer

Getting pre-approved. This will help you know what price range you can afford. Remember, you can also set a mortgage budget that you are comfortable with as long as your approval is equal to or more than the budget you set.

Question 2

How long does it take to buy a home?

Accepted Answer

That depends on how long it takes for you to find the right home and get an offer accepted. Once you are in contract, the average escrow is 30 days.

Question 3

What does a Realtor® do?

Accepted Answer

A REALTOR® is your most valuable asset when buying a home. They will walk you through every part of the home buying process. They will educate and inform you of all your options. They will represent you throughout the transaction and beyond.

Question 4

Are there other fees required when financing a home loan?

Accepted Answer

The down payment is usually the largest cost associated with buying a house. Lending fees are the second largest costs to homebuyers. Most lenders will charge between 2% to 4% of the loan amount for loan origination fees, depending on the loan type. Conventional loans usually have lower loan origination fees, but require more money down. Your loan officer will be able to help you determine how much you can expect to pay towards loan origination and closing cost.

Question 5

What happens in a multiple offer situation?

Accepted Answer

The seller makes a choice as to which offer they want to accept. Your agent can help you set yourself up for success and put your best foot forward.

Question 6

Do the appliances come with the house?

Accepted Answer

The appliances that remain with the home should be listed in the contract. Your agent can help you negotiate the terms of the contract for any appliances that you may want to be a part of the sale. The Seller is not obligated to leave appliances that are not built in.

FAQs FOR BUYERS