Frequently
Asked Questions
What can I do to help sell my home?
What is earnest money?
Can any realtor show any house?
What information should a person take to get pre-approved
for a mortgage?
Should I get my home inspected before I buy?
Do you have a preferred title company you work with or
can I choose anyone?
What's the difference between an appraisal and an inspection?
Q: What can I do to help sell my home?
A: There are numerous ways to increase the value of your how
and its salability. Here are ten
low-cost ideas to start with. You can also contact your real estate
agent to help you determine the most cost effective and sought after
features in your area.
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Q: What is earnest money?
A: Earnest money a deposit made by the potential buyer to show
that he or she is serious about buying the property. The check should
not be made out to the seller directly. Rather it may be made out to
the brokerage firm of the real estate sales professional. The earnest
money should be deposited in escrow to be returned to you if the seller
does not accept your offer within a specified number of days. You usually
forfeit the money if the contract is accepted by the seller and then
you back out of the deal.
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Q: Can any realtor show any house?
A: Yes, each listed house has a key box that your realtor has
an electronic key to open, which gives them access to show you the home.
Your realtor can also show you homes that are "For Sale By Owner"
by making a simple phone call.
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Q: What information should a person take to
get pre-approved for a mortgage?
A: Mortgages are available from a number of sources including
commercial banks, mortgage companies, federal credit unions, and financial
companies. When you go in to get pre-approved, you will want to bring
several documents to speed up the process. These include your bank account
numbers, pay stubs, W-2 forms for the past two years, and any information
about current debts such as loans and credit cards.
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Q: Should I get my home inspected before I
buy?
A: One of the contingencies often added to a contract is that
a satisfactory home inspection report be obtained. The home inspection
is not the same as an appraisal. The inspection is meant to evaluate
the structural and mechanical condition (not market value) of the property.
The inspector's findings will be based on observable, unconcealed structural
conditions.
It is strongly recommended you accompany the inspector on his/her rounds.
You can expect the inspection to take about one to two hours. Take this
time to learn maintenance tips, ask questions, and any possible problems.
Here is an
example of things that an inspection can point out.
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Q: Do you have a preferred title company you
work with or can I choose anyone?
A: You are often free to select your own title company, but occasionally
you may find the homeowner has already made arrangements to use a specific
company to handle the transaction.
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Q: What's the difference between an appraisal
and an inspection?
A: An appraisal is a professional opinion or estimate of the
market value of a property. Your mortgage company will often charge
an appraisal fee, when you apply for the loan, to determine whether
the value of the property is sufficient to secure the loan amount.
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