Common Buyer Questions

• What is my budget, and how much can I afford?

I often get asked this of buyers, and it is not the real estate agent's duty in the real estate process. This question should be directed to your lender, as they will determine your buying power, loan type, and answer questions under the financing umbrella. As agents, we are not lenders. (If you need recommendations on loan officers or lenders, I can provide suggestions!)

• What is the first step in the home buying process?

The first step is speaking with your lender and getting pre-approved! In order for your agent to show you homes, we must have a pre-approval from your lender. This ensures the offer process runs smoothly and increases the likelihood of your offer being accepted.

• How long does it take after an offer is accepted until you close on the property?

It typically takes about 30-45 days. Remember, every situation is different depending on inspections, relocation, contingencies, etc.

• What does contingency mean?

A contingency is a condition that must be met for a contract to be binding. It's like a "what if" clause that allows a buyer or seller to back out of a deal without facing penalties if certain conditions aren't met. In recent years, a popular contingency has been the process proceeding if/when a seller finds a new home or is able to sell their current home by a certain date.

• Is an inspection required?

No, BUT IT IS HIGHLY RECOMMENDED! As stated above, a home inspection contingency allows a buyer to back out if the home inspection does not go as planned. An inspection is also highly recommended for safety issues that may not otherwise arise, negotiation power, and peace of mind and understanding of your property. (Some types of loans require an inspection)