Frequently Asked Questions
When Buying a Home
How do I find a great lender, inspector, closing attorney, etc.?
I have a full list of contacts that I work with very regularly and know do an incredible job for my clients! I will have great recommendations for you every step of the way. You are never required to use a specific professional I recommend, however, if you have your own preferences.
Is a home inspection required?
No, but it is HIGHLY recommended that you have a professional conduct a thorough home inspection to ensure you are making a wise financial investment.
Should I be present for the inspection and appraisal?
The full inspection lasts 3-4 hours, so I recommend you just be present at the end of the to review the inspector’s findings with him and ask any questions that you may have. The written report often feels very intimidating and scary, whereas you will find discussing the report ahead of time will ease your mind and help you understand what is a serious concern and what is an easy fix. You will not be present for the appraisal, however - we will receive that report via email later.
What appliances are included with the home as part of the sale?
All kitchen appliances except for the refrigerator are considered “fixtures,” which mean they stay in the home unless otherwise specified in a contract. Refrigerators, washing machines, and dryers are not considered “fixtures,” but a buyer may request they stay in the home as part of the sale. We will discuss this further prior to you accepting an offer.
Do I have to make all of the repairs from a buyer’s home inspection?
The contract does not obligate a seller to make any repairs – in fact, it states that the home is being sold in it’s current condition. The buyer, however, also has the option to walk away from the purchase if they are unhappy with the condition of the home, so there may be some repairs that you will agree to make. I will assist in negotiating with the buyer’s agent what repairs you will agree to or what concession you will offer for repairs if necessary.
Will the sellers make all repairs from the home inspection?
The contract does not obligate a seller to make any repairs – in fact, it states that you are buying the home in it’s current condition. You, however, also have the option to walk away from the purchase if you are unhappy with the condition of the home, so there may be some repairs that the seller will agree to make. I will assist in negotiating with the seller’s agent what repairs you desire to be made and how they are to be completed.
What if the home does not appraise for the contract price?
If the property appraises for less than the contract price, that could be a problem as the bank will only give you a loan for the appraised value. That means you would have to come up with cash at closing for the difference between the appraisal price and the contract price. If I feel as if that may be an issue, we will discuss that prior to you making an offer on a property so you know the possibility exists ahead of time. If it does happen, you can ask the seller to renegotiate and you have the option to terminate the contract.
Does the seller ever pay for my closing costs?
Yes. There is a place in the offer where you can request the seller pay a particular dollar amount towards your closing costs, which can be some or all of the total. We will discuss this in detail together prior to making an offer on a home you desire.
What appliances are included with the home as part of the sale?
All kitchen appliances except for the refrigerator are considered “fixtures,” which mean they stay in the home unless otherwise specified in a contract. Refrigerators, washing machines, and dryers are not fixtures, but you can ask that they stay in the home as a term of your offer.
What happens if I want to terminate my contract on a home?
At any point during your due diligence period, you can terminate the contract for any or no reason at all by giving written notice to the seller. If this happens, the seller simply retains your due diligence money and you get your earnest money back. If you terminate the contract after your due diligence period has expired, the seller will also retain your earnest money.
How does a buyer’s agent get paid?
In almost all cases, you do not have to pay anything for me to act as your buyer’s agent to help you purchase a home. The seller pays their Realtor® a fee, and then that listing agent pays a buyer’s agent for bringing a buyer and facilitating the transaction. If for some reason this is not the case for a home you are interested in seeing, I will let you know prior to scheduling a showing and discuss how that affects you.
How many homes should I look at before making an offer on one?
There really is no magic number. Some buyers make an offer on the very first home they see, while others see multiple before making a decision. It is so important to clearly define your wants and needs for a home from the start so that you don’t need to look at so many homes that it begins to feel like a chore.
How long does it usually take to close on a home?
This will vary depending upon if you are getting a loan and what type of loan, but in most cases it takes somewhere between 30-45 days after an accepted contract.
When will I get the keys to my new home?
You will most likely get the keys on closing day! Once you sign the closing paperwork on closing day, the attorney then has to electronically “record” the documents at the county courthouse to make it ”officially” your home. Some sellers will pass along the keys to you as soon as the paperwork is signed, while others prefer to wait until the sale is officially finalized. Either way, both of these things should happen in the same day unless there is something unforeseen that causes a delay. I always recommend not scheduling movers directly following a closing appointment for this reason.