FAQ FROM HOME BUYERS
Attempting to buy a home without a Realtor can really make the home buying process more complicated. Having a Realtor is always recommended when buying a home. What you do not want to do when buying a home is calling the listing agent because you don’t want to “burden” your Realtor. This is one thing that real estate agents hate.
This question is often asked and has a simple answer. In fact, there is no specific number of homes you should look at before buying a home. Don’t feel that if are ready to make a decision after you saw the first home you liked, you are making a mistake. On the other hand, do not feel guilty if you look at 25 homes before you feel that you are ready to make up your mind.
When buying a home, it’s critical to find out what additional costs will be involved with the monthly mortgage payments. Utility bills are just one of the additional costs to consider when buying a home. Utility bills can be obtained from the home owner and, in some cases, from the local utility company, that can provide averages over the past 12 months. Keep in mind, everyone prefers to have their home temperature different, so the average bill could be different if you were to purchase the home.
FAQ FROM HOME SELLERS
This common question cannot be answered with a simple or general answer. Every real estate market is different, therefore, the best time to sell a home will vary from real estate community to real estate community. In most cases, the spring months are the best time to be selling your home. Since every home seller’s situation is different, you should discuss the timing of your home sale with your Realtor. In some cases, selling a home during the fall and winter months actually maybe better than waiting until the spring real estate market. This is due to a combination of many factors including lower competition and that serious buyers are always looking for a home, just to mention a couple factors.
There are a handful of methods that Realtors use to determine the value of your home. The most common method to determining the value of a home is by completing a comparative market analysis. A comparative market analysis is an in-depth evaluation of recently sold “comparable” homes in the past 6-12 months. A comparative market analysis, also known as a “CMA,” isn’t a crystal ball that determines what a home will sell for, however, if performed by a top Realtor, it should greatly narrow the sale price range. A professionally completed “CMA” will take into account many features of not only a home, but also the local area and neighborhood. Considerations that a professionally completed “CMA” include, but is not limited to: • Square footage • Number of bedrooms • Number of bathrooms • Upgrades to kitchen • Window quality • Roof age • Lot features • Location; primary or neighborhood street? • Style of residence • Flooring type
When selling a home, it’s important you disclose to potential buyers anything you are aware of in your home. Nobody likes “getting the raw end of a deal” when it comes to buying a home, car, or anything for that matter. If you’re aware of defects with a roof, appliances, or home in general, you’re always going to be better off being honest and upfront. If you’re aware of defects, whenever possible, fixing them before going on the market is best. This can avoid potential issues and/or lawsuits once your home is under contract, after inspections, and even years after you have sold your home.