Frequently Asked Questions

The first step in selling a home is to prepare it for the market. This includes making any necessary repairs or upgrades, decluttering and cleaning the home, and staging it to appeal to potential buyers.

Once your home is ready to be listed, the next step is to find a reputable real estate agent who can help you price and market your home. The agent can provide you with a comparative market analysis (CMA) that looks at recent sales of similar homes in your area to determine a competitive listing price.

After your home is listed, you can expect to receive offers from interested buyers. Your real estate agent can help you negotiate the terms of the sale and guide you through the closing process.

It’s important to note that the process of selling a home can vary depending on the local real estate market and other factors. It’s always a good idea to work with a trusted real estate professional who can help you navigate the process and ensure a successful sale.

The value of your home depends on various factors such as location, size, age, condition, and recent sales of similar properties in the area. A real estate agent can help you determine the estimated value of your home by conducting a comparative market analysis (CMA) which involves evaluating the recent sales of similar properties in your area. They will also take into consideration any unique features or upgrades of your home that could add value. Additionally, you can use online tools that offer estimates of home value, but keep in mind that they may not be as accurate as a CMA conducted by a professional real estate agent.

There are several ways to price your home, but the most common method is to determine its market value. Market value is the price that a willing buyer would pay and a willing seller would accept in a typical transaction in the current market conditions.

To determine the market value of your home, you can consider the following factors:

1. Location: The location of your home can have a significant impact on its value. Factors such as proximity to schools, parks, public transportation, and amenities can influence the value of your home.
2. Size and layout: The size and layout of your home, including the number of bedrooms and bathrooms, can also affect its value.
3. Condition: The overall condition of your home, including any updates or repairs that have been made, can influence its value.
4. Comparable sales: One of the most important factors in determining the market value of your home is to look at recent sales of similar homes in your area.

To get an accurate estimate of your home’s value, you can work with a licensed real estate agent who can provide you with a comparative market analysis (CMA) that looks at recent sales of similar homes in your area. This will give you a better idea of the market value of your home and help you set a price that is competitive and reasonable.

The length of time it takes to sell your home can vary depending on various factors such as the location of your property, current market conditions, and the price and condition of your home.

In a strong seller’s market, where demand is high and inventory is low, homes can sell quickly, sometimes within a few days or weeks. In a buyer’s market, where there is more inventory than demand, homes may take longer to sell, sometimes several months or more.

Other factors that can affect the time it takes to sell your home include the marketing strategy, the condition of your home, and the price you set for your property. If your home is in good condition, priced competitively, and marketed effectively, it can sell faster than homes that are in poor condition, overpriced, or not marketed well.

Ultimately, there is no set timeline for how long it will take to sell your home. It’s best to consult with a real estate agent who can provide you with a more accurate estimate based on local market conditions and their experience in selling properties similar to yours.

Staging your home is an important part of the selling process as it can help make your property more appealing to potential buyers. Here are some tips on how to stage your home effectively:

1. Declutter and depersonalize: Remove any personal items such as family photos and knick-knacks. Keep only essential furniture to make the space look more open.
2. Clean and make necessary repairs: Ensure that your home is clean and free of any clutter. Make necessary repairs to any damaged or broken items.
3. Create a neutral palette: Use neutral colors to paint the walls and choose simple decor items that don’t clash.
4. Let in natural light: Open the curtains and blinds to let in natural light. Add lamps and other light fixtures to brighten up darker areas.
5. Highlight your home’s best features: Emphasize the unique features of your home such as a fireplace, outdoor space, or architectural details.
6. Add finishing touches: Add fresh flowers or plants, fluffy towels in the bathrooms, and a few decorative items to make the space feel inviting.

Overall, the goal of staging is to create a welcoming and inviting atmosphere that allows potential buyers to see themselves living in the space. Working with a professional home stager or real estate agent can also be beneficial in creating a staging plan that will appeal to buyers.

Negotiating a real estate transaction can be complex, and it’s important to work with a licensed real estate agent who has experience in negotiating deals.

Here are some tips that can help you negotiate a better price for a home:

1. Do your research: Research the local real estate market to understand the current prices and trends in the area. This will give you a better idea of the fair market value for the property you’re interested in.
2. Look for leverage: Identify any factors that can give you leverage in the negotiation process. For example, if the property has been on the market for a long time, the seller may be more willing to negotiate on price.
3. Make a strong offer: A strong offer can give you an advantage in the negotiation process. Consider offering a higher down payment or a shorter closing period to make your offer more appealing to the seller.
4. Be willing to walk away: If the seller is not willing to negotiate on price, be prepared to walk away from the deal. This can give you leverage in the negotiation process and may prompt the seller to come back with a better offer.
5. Work with a real estate agent: A licensed real estate agent can provide valuable advice and guidance throughout the negotiation process. They can also help you understand the local market and advise you on a fair price for the property.

Remember that negotiation is a give-and-take process, and both parties should feel like they’re getting a fair deal. By doing your research, looking for leverage, and working with an experienced real estate agent, you can increase your chances of negotiating a better price for a home.

If your home is not selling, there are several things you can do to try and get it sold. Here are some steps you can take:

1. Evaluate the price: The most common reason why a home doesn’t sell is that it’s priced too high. Look at the prices of comparable homes in the area and consider adjusting your asking price.
2. Improve the condition of the home: Take a critical look at your home and identify any areas that could be improved. Consider making repairs, decluttering, or hiring a professional stager to make the home more appealing to potential buyers.
3. Increase exposure: Make sure your home is listed on all the major real estate websites and consider hiring a real estate agent who has a strong online presence. You may also want to consider hosting an open house or other events to increase exposure to potential buyers.
4. Consider incentives: Consider offering incentives such as a home warranty, closing cost assistance, or a flexible closing date to make your home more appealing to potential buyers.
5. Be patient: Selling a home can take time, and it’s important to be patient and persistent in your efforts. Continue to market your home and make adjustments as necessary until you find the right buyer.

If you have already tried these steps and your home is still not selling, it may be worth speaking with a real estate agent to discuss other options, such as renting the property or making more significant changes to the listing.

If you’re planning to sell a home that is currently rented out, here are the general steps you may need to take:

1. Notify your tenant: You will need to notify your tenant that you plan to sell the property. You may also need to work with your tenant to schedule showings of the property.
2. Review your lease agreement: Review your lease agreement to see if there are any restrictions on selling the property while it’s occupied by a tenant. You may need to provide a notice period or other provisions to ensure that the tenant’s rights are protected during the sale process.
3. Prepare the property for sale: Depending on the condition of the property, you may need to make repairs or upgrades to prepare it for sale. You may also want to stage the property or hire a professional photographer to create a listing that appeals to potential buyers.
4. Set the price: Work with a real estate agent to set a price for the property based on current market conditions and the condition of the property.
5. List the property: List the property for sale and begin scheduling showings for potential buyers. You may need to work with your tenant to ensure that the property is available for showings at convenient times.
6. Review offers: Review offers from potential buyers and work with your real estate agent to negotiate the best price and terms for the sale.
7. Provide notice to the tenant: If the buyer plans to occupy the property, you will need to provide notice to the tenant to vacate the property. This may require following specific notice requirements under local and state laws.
8. Close the sale: Once all conditions are met, you can close the sale and transfer ownership of the property to the buyer.

Selling a home that is currently rented out can be more complicated than selling a vacant property, but it’s still possible to achieve a successful sale with the right preparation and guidance. Working with an experienced real estate agent can help ensure a smooth process and protect the rights of both you and your tenant.

1. Why are you moving?
2.  What are the average monthly expenses?
3. How are the local schools?
4. How old are important home components?
5. Have there been any major repairs?
6. Were there any structural changes made to the home?
7. How long has the home been on the market?
8. What’s included in the sale?
9. How do you like your neighbors?
10. What is the surrounding neighborhood like?
11. How long have you lived in the home?
12. Has there ever been water damage in the home?
13. What do you love about this place?
14. How low are you willing to go?

If you get cold feet about a property that is okay. Sometimes, you have second thoughts or want to go in a different direction. Know that yout will have to forfeit the earnest money, which again, is around 1–2% of the home’s sale price.

In sellers’ markets, increasing demand for homes drives up prices. Here are some of the drivers of demand:

Economic factors – the local labor market heats up, bringing an inflow of new residents and pushing up home prices before more inventory can be built.

Interest rates trending downward – improves home affordability, creating more buyer interest, particularly for first time home buyers who can afford bigger homes as the cost of money goes lower.

A short-term spike in interest rates – may compel “on the fence” buyers to make a purchase if they believe the upward trend will continue. Buyers want to make a move before their purchasing power (the amount they can borrow) gets eroded.

Low inventory – fewer homes on the market because of a lack of new construction. Prices for existing homes may go up because there are fewer units available.

In sellers’ markets, increasing demand for homes drives up prices. Here are some of the drivers of demand:

Economic factors – the local labor market heats up, bringing an inflow of new residents and pushing up home prices before more inventory can be built.

Interest rates trending downward – improves home affordability, creating more buyer interest, particularly for first time home buyers who can afford bigger homes as the cost of money goes lower.

A short-term spike in interest rates – may compel “on the fence” buyers to make a purchase if they believe the upward trend will continue. Buyers want to make a move before their purchasing power (the amount they can borrow) gets eroded.

Low inventory – fewer homes on the market because of a lack of new construction. Prices for existing homes may go up because there are fewer units available.

If the built-up equity in your current home will be applied to the down payment on the new home, naturally the former will need to be sold first.

Some home buyers decide to turn their current home into an investment property, renting it out. In that case, the current home will not need to be sold. However, your loan advisor will still need to evaluate your risk profile and credit history to determine whether making a loan on a new home is feasible while retaining title to the old home.

Buyers often have a short time frame to sell their current home when relocating to a new city because of a job transfer. If you are moving but taking a position with the same employer, check to see if they offer relocation assistance to help offset some of the costs.

Selling a home in a tough market can be challenging, but there are several strategies you can use to increase your chances of success. Here are some tips:

1. Price your home competitively: In a tough market, it’s important to price your home competitively to attract potential buyers. Work with your real estate agent to determine a fair price that is in line with recent sales of similar homes in your area.
2. Make necessary repairs and upgrades: Buyers in a tough market are likely to be more discerning, so it’s important to make any necessary repairs or upgrades to make your home stand out. This could include updating the kitchen or bathroom, replacing outdated fixtures or appliances, or repainting the interior.
3. Stage your home: Staging your home can help buyers visualize themselves living there and make your home more appealing. Consider hiring a professional stager or doing it yourself by decluttering and rearranging furniture to make your home look spacious and inviting.
4. Market aggressively: In a tough market, it’s important to get your home in front of as many potential buyers as possible. Work with your real estate agent to develop a comprehensive marketing plan that includes online listings, social media advertising, and open houses.
5. Be flexible and patient: Selling a home in a tough market can take longer than expected, so it’s important to be patient and flexible. Consider offers that may be lower than your asking price and be willing to negotiate on terms such as closing dates and contingencies.

Remember, working with a knowledgeable and experienced real estate agent can be the key to successfully selling your home in a tough market. They can provide you with expert guidance and help you navigate the challenges of the current market conditions.

The first step in buying a home is typically to determine your budget and obtain a pre-approval letter from a mortgage lender. This will help you understand how much you can afford to spend on a home and give you an idea of what type of properties you should be considering.

To obtain a pre-approval letter, you will need to provide the lender with information about your income, assets, and credit history. The lender will then evaluate this information and let you know how much they are willing to lend you.

Once you have a pre-approval letter, you can start looking at homes within your budget and working with a real estate agent to find a property that meets your needs and preferences.

Here are some tips on how to find homes that meet your specific needs and budget:

1. Define your needs and budget: Make a list of the features you need and want in your new home, such as the number of bedrooms, bathrooms, square footage, and location. Set a realistic budget based on your finances and mortgage pre-approval.
2. Search online: Use real estate websites and apps to search for homes that meet your criteria. You can filter your search by location, price, and other features.
3. Work with a real estate agent: Hire a real estate agent who specializes in the type of property you are looking for. They can help you find homes that match your criteria and guide you through the home buying process.
4. Attend open houses and showings: Attend open houses and showings to get a better idea of what’s available in your desired location and price range. Be sure to take notes and ask questions about the property.
5. Network with others: Talk to friends and family members who may know of homes that are for sale or connect with local real estate investors and professionals who can help you find homes that meet your criteria.

By using these strategies, you can find homes that meet your specific needs and budget, and ultimately find the perfect home for you and your family.

In a competitive real estate market, it can be challenging to make your offer stand out among others. Here are some tips that can help:

1. Get pre-approved for a mortgage: Having a pre-approval letter from a lender can show the seller that you are a serious buyer and have the financial means to purchase the property.
2. Make a strong offer: Consider offering a higher down payment, offering to pay all or a portion of the closing costs, or making an all-cash offer. These can make your offer more appealing to the seller.
3. Be flexible: If the seller needs to close quickly or is looking for a longer closing period, consider accommodating their needs if possible.
4. Write a personal letter: Consider writing a personal letter to the seller expressing why you love the property and how you plan to use it. This can help create a personal connection with the seller and make your offer more memorable.
5. Work with an experienced real estate agent: A good real estate agent can provide valuable guidance on making your offer more competitive. They may also have relationships with other agents in the area that can help strengthen your offer.

Remember that in a competitive market, there may be multiple offers on the property. It’s important to make your offer stand out while still staying within your budget and not overpaying for the property. Working with a real estate agent can help ensure that your offer is strong and competitive without compromising your financial goals.

When buying a home, here are some important factors to consider:

1. Location: Look for a location that meets your needs and lifestyle, such as proximity to work, schools, and amenities.
2. Condition: Assess the condition of the home, including the age of major systems and any potential repairs that may need to be made.
3. Size and layout: Consider the size and layout of the home to ensure that it meets your current and future needs.
4. Features and amenities: Look for features and amenities that are important to you, such as a backyard, a garage, or updated appliances.
5. Neighborhood: Consider the overall vibe of the neighborhood, including the sense of community, safety, and property values.
6. Price: Determine if the asking price is within your budget and if it’s in line with other similar homes in the area.
7. Resale value: Consider the potential resale value of the home, especially if you plan on selling in the future.
8. Home inspection: Always have a home inspection performed by a qualified inspector to identify any potential issues or repairs that may need to be made.

By considering these factors, you can make an informed decision when buying a home and find a property that meets your needs and expectations.

The home buying process can be broken down into several key steps:

1. Determine your budget and get pre-approved for a mortgage: Determine how much you can afford and get pre-approved for a mortgage from a lender.
2. Find a real estate agent: Hire a real estate agent to help you find homes that match your criteria and guide you through the home buying process.
3. Search for homes: Use online resources, attend open houses and showings, and work with your agent to find homes that meet your needs.
4. Make an offer: Work with your agent to make an offer on a home that you’re interested in buying.
5. Home inspection and appraisal: Once your offer is accepted, schedule a home inspection and appraisal to identify any potential issues with the home and ensure that the property is worth the purchase price.
6. Obtain a mortgage: Finalize your mortgage with your lender and provide any necessary documentation.
7. Closing: Sign the final paperwork and pay closing costs to complete the purchase of your new home.
8. Move in: Once you’ve closed on your new home, it’s time to move in and make it your own!

Each step of the home buying process is important, and it’s crucial to work with experienced professionals, including a real estate agent and a lender, to ensure a successful transaction.

The amount of money you need to have saved for a down payment depends on several factors, including the purchase price of the home, the type of mortgage you choose, and the lender’s requirements.

As a general rule of thumb, most lenders require a down payment of at least 3% to 20% of the purchase price. For example, if you’re buying a $300,000 home, a 20% down payment would be $60,000. However, some government-backed loans, such as FHA loans, require a down payment of as little as 3.5% of the purchase price.

It’s important to note that if your down payment is less than 20% of the purchase price, you will typically need to pay for private mortgage insurance (PMI), which is an additional cost added to your monthly mortgage payment.

In addition to the down payment, you should also budget for closing costs, which typically range from 2% to 5% of the purchase price. Closing costs include fees for things like the home inspection, appraisal, title search, and attorney fees.

Ultimately, it’s important to work with a lender to determine how much you need to save for a down payment based on your financial situation and the type of mortgage you plan to obtain.

What is the current state of the real estate market?

The real estate market is constantly changing and can vary based on location and property type. However, in general, the real estate market has been strong and competitive in recent years.

Low mortgage rates have made it more affordable for buyers to enter the market, which has increased demand for homes. This has led to a shortage of available homes for sale, which has driven up prices in many markets.

The COVID-19 pandemic has also had an impact on the real estate market. The pandemic has caused some buyers and sellers to delay their plans, while others have accelerated their plans due to changing needs for more space or desire for a new location.

Overall, it’s important to work with a local real estate agent who has a good understanding of the current market trends in your area and can provide you with the most up-to-date information on the state of the real estate market.

To get pre-approved for a mortgage, follow these steps:

1. Determine your budget: Before you begin the pre-approval process, determine how much you can afford to spend on a home. Consider factors like your income, debt, and monthly expenses to determine an affordable mortgage payment.
2. Gather your financial documents: Lenders typically require several financial documents during the pre-approval process, including pay stubs, tax returns, bank statements, and other financial statements. Gather these documents in advance to streamline the pre-approval process.
3. Find a lender: Research and compare lenders to find one that best meets your needs. Consider factors like interest rates, fees, and customer service.
4. Submit an application: Once you’ve found a lender, submit a mortgage application. Be prepared to provide information about your income, assets, and debts.
5. Provide additional documentation: Your lender may request additional documentation during the pre-approval process, such as a letter of employment or a copy of your driver’s license.
6. Wait for the pre-approval decision: After submitting your application and required documentation, your lender will review your information and determine whether to pre-approve you for a mortgage. This process typically takes a few days.

Once you’re pre-approved for a mortgage, you’ll receive a letter from your lender outlining the maximum amount you’re approved to borrow. Keep in mind that pre-approval is not a guarantee of a mortgage loan, and you’ll still need to complete the full application process and meet all of the lender’s requirements to obtain a mortgage.

You can choose a lender of your choice, but we have used the following lenders in the past and our clients have been extremely satisfied with the outcome:

Bell Bank Mortgage

https://alexkonrad.bellbankmortgage.com/
Alex Konrad
NMLS #1961939
Office: 480-339-8558
Direct: 480-284-3149
Email: akonrad@bell.bank

Scout Mortgage, Inc.

https://www.scoutmortgage.com/
John Mangels
NMLS #56553
Office: 480-607-7906
Direct: 480-850-6202
Email: jmangels@scoutmortgage.com 

Closing costs are the fees and expenses associated with buying or selling a home. The specific costs can vary based on factors such as the location of the property, the purchase price, and the type of mortgage.

Here are some of the most common closing costs associated with buying or selling a home:

1. Appraisal fee: This fee covers the cost of the appraisal, which is typically required by the lender to determine the value of the property.
2. Home inspection fee: This fee covers the cost of a home inspection, which is recommended to identify any potential issues with the property.
3. Title search and insurance: These fees cover the cost of searching public records to ensure there are no liens or other issues with the property’s title. Title insurance is also typically required to protect the lender and the buyer in case there are any issues with the title in the future.
4. Escrow fees: These fees cover the cost of holding and disbursing funds during the closing process.
5. Loan origination fees: This fee covers the cost of processing and underwriting the mortgage loan.
6. Prepaid expenses: These are expenses that are paid in advance, such as property taxes and homeowners insurance.
7. Attorney fees: If you choose to hire an attorney to assist with the closing process, there will be fees associated with their services.

The specific closing costs associated with a home purchase or sale can vary, so it’s important to review the estimated closing costs provided by your lender or real estate agent to ensure you understand the full cost of the transaction.

Buying a foreclosed home can come with certain risks, including:

1. Condition of the property: Foreclosed homes are often sold “as is,” meaning the buyer may be responsible for any necessary repairs or renovations. It’s important to have the property inspected before making an offer to avoid any unexpected expenses.
2. Delays in closing: The foreclosure process can be complicated and may result in delays in closing. This can be frustrating for buyers who need to move in by a specific date.
3. Title issues: Foreclosed homes may have title issues, such as liens or unpaid property taxes, that can complicate the purchase process.
4. Limited disclosure: Banks and lenders who sell foreclosed properties may not have the same level of knowledge about the property as a traditional seller, which can lead to limited disclosure about the home’s history or condition.
5. Competition: Foreclosed homes may be priced lower than comparable properties in the area, which can attract a lot of competition from buyers. This can result in bidding wars and may drive up the price of the home.
6. Neighborhood condition: Foreclosed homes are often located in neighborhoods with high rates of foreclosure, which can negatively impact the value of the home.

It’s important to work with a real estate agent who has experience with foreclosed properties and can help you navigate the process. They can provide valuable guidance on the potential risks and help you make an informed decision about whether a foreclosed property is right for you.

A buyer’s market is characterized by declining home prices and reduced demand. Several factors may affect long-term and short-term buyer demand, like: Economic disruption – a big employer shuts down operations, laying off their workforce.

Interest rates trending higher – the amount of money the people can borrow to buy a home is reduced because the cost of money is higher, thus reducing the total number of potential buyers in the market. Home prices drop to meet the level of demand and buyers find better deals.

Short-term drop in interest rates – can give borrowers a temporary edge with more purchasing power before home prices can react to the recent interest rate changes.

High inventory – a new subdivision and can create downward pressure on prices of older homes nearby, particularly if they lack highly desirable features (modern appliances, etc.)

Natural disasters – a recent earthquake or flooding can tank property values in the neighborhood where those disruptions occurred.

How much do I have to pay an agent to help me buy a house?

Home shoppers pay little or no fees to an agent to buy a home.

Here’s why:

For most home sales, there are two real estate agents involved in the deal: one that represents the seller and another who represents the buyer.

Listing brokers represent sellers and charge a fee to represent them and market the property. Marketing may include advertising expenses such as radio spots, print ads, television and internet ads. The property will also be placed in the local multiple listing service (MLS), where other agents in the area (and nationally) will be able to search and find the home for sale.

Agents who represent buyers (a.k.a. buyer’s agent) are compensated by the listing broker for bringing home buyers to the table. When the home is sold, the listing broker splits the listing fee with the buyer’s agent. Thus, buyers don’t pay their agents.

Most loan programs require a FICO score of 620 or better. Borrowers with higher credit scores represent less risk to the lender, often resulting in a lower down payment requirement and better interest rate. Conversely, home shoppers with lower credit scores may need to bring more money to the table (or accept a higher interest rate) to offset the lender’s risk.

The national average for down payments is 11%. But that figure includes first time and repeat buyers

While the broad down payment average is 11%, first time homebuyers usually only put down 3 to 5% on a home. That’s because several first-time home buyer programs don’t require big down payments. A longtime favorite, the FHA loan, requires 3.5% down. What’s more, some programs allow down payment contributions from family members in the form of a gift.

Some programs require even less. VA loans and USDA loans can be made with zero down. However, these programs are more restrictive. VA loans are only made to former or current military service members. USDA loans are only available to low to-middle income buyers in USDA-eligible rural areas.

For many years, conventional loans required a 20% down payment. These types of loans were typically taken out by repeat buyers who could use equity from their existing home as a source of down payment funds. However, some newer conventional loan programs are available with 3% down if the borrower carries private mortgage insurance (PMI).

That’s up to you! For sure, home shopping today is easier than ever before. The ability to search for homes online and see pictures, even before setting a foot outside the comfort of your living room, has completely changed the home buying game. Convenience is at an all-time high. But, nothing beats visiting a home to see how it looks and ‘feels’ in person.

When you make an offer on a home, your agent will ask for a check to accompany it (checks are the same as cash, and the deposit is typically 1% to 2% of the purchase price). Earnest money is made in good faith to demonstrate – to the seller – that the buyer’s offer is genuine. Earnest money essentially takes the home off the market to anyone else and reserves it for you.

The check (or sometimes cash) is deposited in a trust or escrow account for safekeeping. If a deal is struck, the earnest money is applied to the down payment and closing costs. If the deal falls through, the money is returned to the buyer.

Important: if the terms of a deal are agreed upon by both parties, but then the buyer backs out, the earnest money may not be returned to the buyer. Ask your agent about the ways to protect your earnest money deposit and the ways to protect it – such as offer contingencies.

Written offers should stipulate the timeframe in which the seller should respond. Giving them twenty-four hours should be sufficient.

Sellers can flat-out accept or reject an initial offer. But there is a third path that is quite common, sellers can initiate a counteroffer. Remember this: a deal isn’t dead until it’s dead. So, if a counteroffer is proffered by the seller, you’re still in the game. You and your agent just need to review it to determine whether the counteroffer is acceptable. If so, then approving it closes the deal immediately. Keep in mind, offers and counteroffers can go back-and-forth many times; this is not unusual and negotiations are a part of what Realtors do as a matter of routine. Each revision should bring both parties closer together on the terms of the deal.

Yes! Home inspections are required if you plan on financing your home with an FHA or VA loan. For other mortgage programs, inspections are not required. However, home inspections are highly recommended because they can reveal defects in the home that are not easily detected. Home inspections bring peace of mind to one of the biggest investments of a lifetime.

It’s not required, but it’s a good idea! Final walk-throughs give buyers a chance to make sure nothing has changed since their first visit. If repairs were requested, as part of the offer, a follow-up visit ensures that everything is squared-away, as expected, per the terms of the contract.

Communities and neighborhoods differ greatly in terms of types of homes, amenities nearby, or access to popular highways and roads. Before hiring an agent, you might want to know if they have either sold or helped purchase homes in a specific neighborhood. It is a nice advantage to have experience in the neighborhood in question.

Agents should know the national and local real estate market well. If they have sold in a certain price range then they have more expertise and knowledge about your needs and what is a fair price. However, if they have not sold within a certain price range, they rely on their team members and network to better understand the nuances of a specific market.

A part-time agent might take a lower commission fee. However, they might not be as experienced or have the time to attend multiple open houses or deliver when you need it. If they’re a full-time or part-time agent, make sure you’re clear about expectations early on with the client and what your weekly schedule is.

Building trust with you is key for any successful agent. If they’re working for a large real estate agency, they make sure that a smaller team contacts their clients. They will introduce each team member early on in the client communication and onboarding process.

With this inquiry, your main concern is that they might not have the time to meet your personal needs, especially if they’re juggling too many listings. You should always be a high priority. Again, be clear about the process and expectations early on.

Home sellers often interview multiple real estate agencies and agents before deciding on one. You should choose an agent based on how long their listings are on the market. At the heart of the matter, you want to know how long it will take for them to sell your house. An agent should reassure you that they will work hard for you to get a fair market value price.

The list-to-price ratio is the difference between what the house was listed as and actually sold for. A strong list-to-price ratio often depends on the market and location, but it ideally wants to be above 90%. Ironically, it does not want to be well over a 100% ratio — being this high over usually signifies an underpricing of homes to pad the ratio.

As a realtor, communication should be one of your top skills. When purchasing a home people want the absolute best service. They should be in touch almost 24/7 and if they can’t get back to you or are out of the office, they will make sure their team has systems in place to support you and promptly answer any of your questions or concerns.

An experienced listing agent should be able to recommend other real estate professionals often found in the industry. These professionals might consist of an attorney who practices in real estate, a mortgage advisor, general contractor or handyman, moving companies, professional home stagers, and cleaning services. Part of being in the real estate industry means using your vast network to assist your clients.