Buyer Questions and Answers

What are the advantages of home ownership?

There are many benefits such as pride of ownership, an increased sense of security, the ability to make improvements of your choice, and not least of all, tax benefits.

Should I work with more than one REALTOR® at the same time?

No, Because all Realtors® have access to the Multiple Listing Service (MLS) and all of the available listings, one Realtor® with whom you feel comfortable will save you time and you will not need to be re-qualified each time you work with a new RealtorRealtors®.

How should I prepare for the first meeting with my Realtor®?

Decide what features you have in your present home that you would like in your next home. You should also decide what additional features you would find appealing. Be certain to list all of your income and its sources, as well as all of your debt information, which will hasten your qualification process.

How long should it take to find the right home?

Because your Real Estate Agents job is to consider your needs and match them with the best house, you may be surprised to discover that you find your next home the vary first day that you look.

What am I supposed to do when looking at homes?

Make a mental list of everything that you like and do not like as you go through each home. Then, as you travel to the next house, you can review this information with your Realtor®

What specific things should I look for in a home?

Look for features that you really would enjoy. Try to picture in your imagination your family and your furniture in the home.

What questions should I ask about the schools?

You would want to know how the state ranks the school, test scores, sports programs, and gifted and special programs. You may even arrange to visit potential schools.

Is it possible for us to find our dream home?

Yes, however, no house is perfect in every way. There will always be something that is not exactly right or in accordance with criteria. A home has a multitude of advantages and features. If you are able to get approximately 90% of those features in a specific house, this may be the one for you.

I am transferring to a new city, what do I do differently in this case?

As a transferee, you should try to get a feel for the entire city and the neighborhoods. This will help you to find an area where you think you would be the most comfortable, before you begin to look at specific houses.

What should I know about the contract for sale and/or the offer to purchase?

Ask your Realtor® for a sample blank copy of the contract. There are differences in financing, contingencies, inclusions and exclusions and specific dates of importance.

Do I need to have any inspections done to the home?

You should consult with your Realtor® about this. Regulations and requirements regarding home inspections and reports about mechanical, electrical and structural features differ widely throughout the country.

Can I add extra inclusions into the contract that are not in the listing?

You should consider the possibility that the seller had personal or financial reasons to exclude these items, however, you may try to negotiate their inclusions through your Realtor®.

How do I negotiate with the Seller to get a contract that is to my advantage?

Your Realtor® can negotiate using the fair market value of similar properties that have been sold. The comparable sales will show the sellers that your offer is accurate, given these standards.

What kind of pressure should I put on myself when I'm about to write an offer to purchase a home?

If you should find a house that feels right to you, place pressure on yourself to make an offer. After all, there may be another potential buyer who also finds this house appealing and while you are delaying a decision, the other buyer could conceivably offer a purchase agreement first.

When should I begin to look into financing?

At the time you sit down for the qualification interview, you may wish to up the issue of alternative financing. Then at the time you are ready to decide on the contract, your methods of financing is already taken care of.

What documents should I bring to my lender?

Your Realtor® will give you a list of all the items pertaining to income and debts that your lender will require in order to haste the process of approval.

What type of financing should I choose?

Ask your lender about the various types of financing available. In recent years, many various types and terms of financing have become commonplace. You may also wish to speak with various lenders regarding their programs and how they might fit your needs.

What is Buyers remorse?

Buyers usually second-guess themselves as to whether or not they made the correct decision. This normally sets in between the time the contract is signed and is closed. You may want to contact your Realtor® if or when you begin to get these feelings and discuss it.