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Buyer FAQ’s

While it’s possible to sell without an agent, having one can provide expert market advice, negotiate better deals, handle legal paperwork, and market the property effectively, often leading to a quicker sale at a higher price. Nearly 82% of people who list as a FSBO (For-Sale-By-Owner), eventually list with a REALTOR and sell quickly for a higher price.
Determining the market value of a home can be done by a REALTOR that has access to the homes that have sold in the MLS that are similar to yours. REALTORS use several criteria to find "comps" - or, comparables" - to help determine the value of the home. Likewise, a seller can hire an appraiser to conduct an appraisal and give an opinion of value.
It can take anywhere from half a day to several months to sell a home. The key factors are the condition of the home, the competition (other homes like it on the market), and the willingness of the seller to negotiate with a buyer.
Minor repairs and cosmetic updates can increase your home's appeal. Major renovations may not always bring a high return on investment. A REALTOR'S job is to help you determine where to invest your money for the highest return.
Showings can be scheduled by appointment, or you can hold an open house. Ensuring the home is clean, clutter-free, and ready for showings at short notice helps increase interest from buyers.

This depends on your income, expenses, down payment, and current debt levels. A common guideline is that your mortgage payment should not exceed 28-30% of your gross monthly income.
Pre-qualification is an initial estimate of how much you can borrow based on your financial information. Pre-approval is a more thorough process where the lender verifies your financial details and gives you a conditional commitment for a loan amount.
A down payment is the upfront cash you pay towards the purchase of the house. It typically ranges from 3% to 20% of the purchase price. Higher down payments can reduce your mortgage rate and eliminate private mortgage insurance (PMI). Different loan products have different requirements for down payments!
Closing costs are fees associated with finalizing the purchase of a home, such as appraisal fees, title insurance, and loan origination fees. They usually range from 2% to 5% of the loan amount.
The home buying process can take anywhere from a few weeks to several months, depending on factors like the efficiency of your lender, the negotiation process, and how quickly you find the right property.