Question 1

When is the best time of year to sell a house?

Accepted Answer

You can sell your home at any time of the year, although some seasons are better than others. In most areas, the spring and fall months are the hottest homebuying seasons of the year, while sales slow down in the summer as families are busy with sports and vacations. Winter is the other season sales can be slow due to the holidays.

Question 2

How is the local real estate market doing?

Accepted Answer

Your real estate agent will provide a detailed market analysis, highlighting current local trends and how they might impact your home sale.

Question 3

How much is my house worth?

Accepted Answer

Your agent will provide you with a CMA (Comparative Market Analysis) for homes in your area that will demonstrate to you an approximation of your homes’ value.

Question 4

How much does it cost to sell my house?

Accepted Answer

Most of the costs come out of escrow at the closing of the sale, not out of pocket. Agents and brokerages typically have an industry standard that is charged as a commission. Remember, you get what you pay for and great agents earn their commissions.

Question 5

Should I make repairs before listing the house?

Accepted Answer

Determining what repairs are needed to get the price you expect is another topic your agent can help advise you on. The more "move-in" ready your home is, the more likely it will draw potential buyers.

Question 6

Where does the home inspector come in?

Accepted Answer

Once an offer has been accepted, the clock starts running. The home inspection is part of that process and your agent will work with the buyer's agent to schedule the home inspections.

Question 7

What happens if the appraisal is lower than expected?

Accepted Answer

If the appraisal comes in lower than expected, it can affect the sale. For all-cash offers, it won't matter unless the buyer asks for a price reduction. For financed purchases, lenders can't loan more than the appraised value. Your agent will negotiate and guide you through this process.

Question 8

Is it possible to stay in the house after closing?

Accepted Answer

If you need to stay in the house after the closing date, your agent can negotiate a rent-back agreement to meet your needs.

Question 9

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 10

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 11

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 12

What credit score is needed to buy a home?

Accepted Answer

Lenders usually require a minimum credit score of 620 to finance a home. Some programs may accept lower scores under certain conditions, but remember that lower scores often mean higher interest rates.

Question 13

How much money do I need for a down payment?

Accepted Answer

Conventional loans usually require a 20% down payment. There are programs that offer as low as about 3% down and even 0% down. Your loan officer can help advise you on your best options.

Question 14

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 15

Are appliances part of the home purchase?

Accepted Answer

Appliances might be included with the house, but this needs to be specified in the contract. Your agent can help negotiate for any appliances you want to be included. Remember, sellers aren't required to leave non-built-in appliances.

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