FAQs

Frequently Asked Questions

What is the first step in buying a home?

The very first step is getting pre-approved for a mortgage. This gives you a clear understanding of your budget and shows sellers that you are a serious, qualified buyer when you make an offer.

How long does the home buying process take?

Once your offer is accepted, the typical closing period takes about 30 to 45 days. However, the entire process—from house hunting to getting the keys—can take anywhere from a few weeks to several months depending on the market.

Do I really need a real estate agent?

While not legally required, a real estate agent acts as your advocate. They negotiate on your behalf, handle the complex paperwork, and use their local market expertise to help you avoid costly mistakes.

What is a "seller's market"?

A seller's market occurs when there are more buyers looking for homes than there are available properties. Because inventory is low, homes often sell faster and for higher prices, sometimes leading to bidding wars.

How much do I need for a down payment?

While 20% is the traditional standard, it is not always required. Many mortgage programs allow down payments as low as 3% to 5%, and some specialized loans (like VA or USDA loans) require zero down payment.

What are closing costs?

Closing costs are processing fees paid to your lender and third parties to finalize the mortgage. They typically range from 2% to 5% of the total loan amount and cover things like appraisals, title searches, and loan origination fees.

Should I sell my current home before buying a new one?

This depends entirely on your financial situation. Selling first makes financing a new home easier, but buying first ensures you aren't rushed to find a new place to live. We can help you weigh the pros and cons of your specific situation!

What is a home inspection, and do I need one?

A home inspection is an objective visual examination of the physical structure and systems of a house. We highly recommend them, as they can uncover hidden issues with the roof, foundation, plumbing, or electrical systems before you finalize the purchase.

How do you determine the listing price of my home?

We determine the listing price by performing a Comparative Market Analysis (CMA). This involves looking at similar properties in your neighborhood that have recently sold, are currently on the market, or failed to sell.

Can I back out of buying a house after making an offer?

Yes, but you may lose your earnest money deposit unless you back out due to specific "contingencies" written into your contract. Common contingencies that protect your deposit include a failed home inspection, appraisal issues, or financing falling through.