Frequently Asked Questions
Frequently Asked Questions
- How long does the buying process take?
While the timeline varies for every purchase, you can expect it to take between 30-45 days after the purchase and sales agreement has been executed if you will be getting a mortgage. If you will be paying cash you can expect it to take a minimum of 7-14 days after the purchase and sales agreement has been executed.
- How many properties does the typical buyer look at?
Some buyers will look at only 1 or 2 homes, while others will look at 20+ there is no right or wrong number.
- When should I make an offer?
When you feel comfortable in your decision to buy the house. Buying a house is one of the biggest decisions you will make in your life. While you need to be comfortable, our market is busy, if you think for too long it may not still be available.
- How much should I offer?
Your agent will provide you with properties that have comparable prices, discuss length of time on the market, and market activity to help you determine a price you should offer.
- When will I get the keys?
You will get the keys at the closing.
- What happens at the closing?
At the closing you will meet with an attorney or someone from a title company, who will explain necessary documents, both the buyer and seller will sign documents. At the end of the closing if you are the buyer you will receive keys to the house, and if you are the seller you may receive a check for any profits on the house.
- Is the closing date on my contract guaranteed?
No, this is not a hard and fast date, it may change several times through the process.
- How much earnest money should I put down?
Your agent will work with you to determine an amount that is right for both the property and for what you can afford.
- What happens to my earnest money?
Your earnest money deposit is deposited into an escrow account. It comes off the total amount of money that you will owe at the closing.
- Will I get my earnest money back if the contract is not accepted?
If the contract is not accepted, you will get your deposit back.
- What is the process to get my earnest money back if the contract has been accepted but the home inspector finds an issue?
In your contract you are given a certain number of days to conduct a home inspection, if the inspector finds something that makes you decide not to move forward and you are still within the allowed number of days you are entitled to your deposit back.
- How often do you find the perfect property on the first day (80-10-10 rule)?
More often then you would probably guess. if you find a house that has 80% of what you are looking for, 10% of things you can change, and10% of things you can live with, it’s a keeper
- Is there anything I should not do during the house hunting process?
refer to our page - Things you should absolutely not do
- What is the likelihood of a multiple offer situation?
Our market is strong right now, there are a lot of buyers and inventory is at an all time low. Multiple offers are happening regularly.
- Do I really need a home inspector?
Most loans will not require a home inspection, but we highly recommend that you get one. A home inspection will give you a good idea of any problems the house may have as well as some general maintenance tips.
- Can you recommend an attorney, home inspector or a lender?
We have recommendations of all the people that you will need to get through the home buying or selling process.
- How much does it cost us for you to represent us as a buyer?
Nothing, we are paid from the commission that the sellers offers, and do not ask for any additional fees from the buyer.