Frequently Asked Questions

Buying or selling a home comes with a ton of questions.
Over the years, we found that the people we work with ask similar questions.
So, we decided to answer all of those questions (and more!) below.

For Sellers

How much needs to be done to my house before selling?

Preparing your home for the market can be a daunting task, but often, less work is needed than you might think. Before you invest time and money into upgrades, consult with a Realtor® to determine what improvements will truly add value and appeal to potential buyers.

How much is my house worth?

The value of your home depends on factors such as square footage, location, and other attributes. Rather than comparing your home to the highest-priced recent sale, look at comparable homes (comps) in your area that have similar features. We provide a custom report with accurate and current information to help determine your home's value.

How long will it take to sell my home?

The time it takes to sell a home varies widely based on location and pricing. As of 2024, the average time on market nationally is around 50-60 days, but pricing your home competitively and ensuring it gets maximum exposure through professional marketing can significantly shorten this period. Our strategic marketing plans include professional photography, social media marketing, and email campaigns to attract buyers quickly.

Does staging your home make a difference?

Yes, staging can significantly impact the sale of your home. Staged homes tend to sell about 40% faster and for 10-20% more money because they allow buyers to envision living in the space. Simple staging tips, like painting walls in neutral colors, can make a big difference.

Should I be present when buyers view my house?

No, it's best not to be present during showings. Buyers need to feel comfortable and free to explore your home without feeling like they are intruding. Your absence can help them better imagine themselves living there.

What is the agent's commission?

Commissions are completely negotiable and can be either a percentage of the sale price or a flat fee. It's essential to choose an agent who offers the best service and representation for your needs during the selling process.

How is the real estate market right now?

Market conditions can vary, and several indicators can help you understand the current state, such as average days on market, closed transactions, and list-to-sales price ratios. For an up-to-date analysis of the local market, let's schedule a time to talk!

What is the best way to respond to low ball offers?

It's important to remain objective and respond to all offers, even low ones. Counteroffers can often bring the buyer closer to your asking price. Viewing the negotiation as a business decision rather than an emotional one can help achieve the best outcome.

How does the inspection phase work?

Inspections are a very common part of the buying process. Buyers typically cover inspection costs unless otherwise negotiated. After the inspection, buyers may request repairs or adjustments based on the findings. The timeline for inspections and related contingencies is set in the purchase agreement.

Can I determine how much my home is worth from an internet website?

Online estimates can be misleading as they use automated calculations that may not reflect local market conditions. For an accurate home valuation, consult with a local Realtor® who can provide a comprehensive analysis based on the latest market data.

For Buyers

Does it cost money to use a Realtor? How does commission work?

Commissions are entirely negotiable, and the buyer's agent may be paid by the buyer, the seller, or both. Discuss the commission structure with your agent to understand how it applies to your transaction.

What are the upfront costs of buying a home?

Upfront costs can include inspections, lender fees, attorney fees, and the down payment. Inspection costs vary, while lender fees and attorney fees can add up to several hundred or thousands of dollars. The down payment is typically the largest upfront cost and can range from 0% to over 20% of the purchase price, depending on the loan program.

How much do I need for down payment?

Down payment requirements vary by loan program, with some options available for as little as 0-5% down. However, a larger down payment (10-30%) can strengthen your offer and potentially help you avoid private mortgage insurance (PMI).

What's the difference between assessed, appraised, and market value?

Market Value: The price a buyer is willing to pay, determined by comparable sales and market conditions.

Appraised Value: An evaluation by a professional appraiser to ensure the home is worth the loan amount.

Assessed Value: The value assigned by a municipality for tax purposes, which may differ from market and appraised values.

Where do my offer check and deposit go?

Deposits are held in an escrow account, usually by the listing brokerage or an attorney until closing. These funds are applied toward your down payment and purchase price.

What is a bidding war?

A bidding war occurs when multiple buyers compete for the same property, often driving up the price. Sellers may ask for "best and final" offers from top bidders to choose the most favorable terms.

Why shouldn’t I wait to buy once the market cools down?

Rising interest rates can reduce your buying power, even if home prices stabilize. Additionally, if you have a property to sell, its value could also decrease in a cooling market. Consulting with a mortgage professional can help you understand the best timing for your purchase.

Is a condo or single family more liability?

Single-family homes typically have higher maintenance and insurance costs, as the owner is solely responsible. Condos share these costs among owners, often resulting in lower individual expenses but requiring condo association fees.

What do I need for a pre-approval?

To get pre-approved, you'll need recent tax returns, pay stubs, bank statements, and other financial documents. A pre-approval can strengthen your offer by showing sellers you are a serious and qualified buyer.