Frequently asked questions
Do I need a realtor to buy a home/property?
When searching for your new home, it’s strongly recommended to hire a Realtor. While it is not necessary, your Realtor can assist and guide you on where to start with your search, placing and negotiating offers, arranging home inspections, appraisals and much more. Our job as a licensed Real Estate Agent is to guide and simplify the home buying process as much as possible.
Who pays the commission fee when purchasing a home/property?
In most cases, the seller is responsible for commissions to both the Listing and Buyer's agent. While this is most common, there can be instances where paying of commissions can fall on the buyer. Such scenarios include Commercial Real Estate Transactions, For Sale by Owner (sometimes) and off market properties. Your Realtor will discuss this with you before approaching these types of transactions.
should I speak to a bank before looking at properties?
It is highly recommended that buyers get pre-approved for a home or property loan BEFORE the search begins. This is the very first step.. Your mortgage lender can calculate the price point we need to stay within to better fit your monthly payment budget. In addition, when you find the one, most sellers will not entertain an offer without a pre-approval. We work with a number of great lenders who can get you competitive rates and will make this process as smooth as possible. Just ask!
what are the typical steps in the buying process?
Great question! While sometimes the step vary, the typical stages of purchasing a property are pretty typical. We start with getting your pre-approval. This will determine the "buying Power" we have to work with. Next comes the meeting with your Realtor to discuss what you are looking for. The third step continues to the actual search of the property. Next the offer, now things are getting interesting! Once the offer is negotiated and accepted, the contract is submitted to your attorney to review with the seller's attorney. After this comes the Home Inspection. Next comes the Appraisal and then the final step is Closing Day! For a detailed explanation of these. CLICK HERE for my "Buyers Guide For First Timers".
do I need a realtor to list my home for sale?
Another great question! Again, same as hiring a Realtor® to buy a home, same answer goes for hiring an agent to sell your home or property. It is highly recommended to hire a professional to sell. For one, your Realtor can provide market expertise and give you a real time market analysis to better price your property. Second, your home/property will be marketed on all Real Estate platforms and local MLS's to better serve and increase traffic to your listing therefore getting you a higher chance in receiving multiple offers! Third, us Realtors network with other Realtors in the industry who already have your buyer ready to make an offer. Another great reason is that your agent will handle all of the showings, negotiations and ease the process of the sale. Lastly, according to statistics, sellers who list their home/property with a Realtor net more profits than a For Sale By Owner. Just weigh the options!
when is the best time to list my home/property for sale?
Markets tend to fluctuate up and down. My answer to this is to sit with your Realtor professional so that they can analyze the current market trends. Most people like to list their homes for sale during the Spring and Summer time to take advantage of all the buyers shopping around while others like to list during the Fall and Winter to avoid the increased competition in other homes available for sale.
how Do we determine the value of my home/property?
This question has a few answers. First in order to price a home, we must do whats called a Comparative Market Analysis (CMA). Homes are typically listed and sold based on the current market and what other homes in the area are selling for. This will be the best approach to correctly price your home for sale. Another approach is if the home or property is generating income. The property can be priced based on the cash flow its producing. This is often called a cap rate. Feel free to contact me for a further explanation of this!