Frequently Asked Questions

Frequently Asked Questions about Real Estate

 

Buyer FAQ:

Q:May I make an offer an more than one property at a time?
A: Technically, yes.  If you are capable to purchase them both, and intend to purchase them both.  Once you make an offer to purchase you need to see that negotiation through. If you write a second offer, it must be made pending the cancellation of the previous offer to purchase.  Unless, you intend to own both homes. This is to prevent and protect a buyer from being stuck with two accepted offers to purchase.
Q: When does my earnest become non-refundable?
A: When you have signed off on your inspection items and cleared the inspection period.  That is the fist stage of clearance for them to “keep your earnest”.  After the lender has given the commitment to lend, your earnest now is technically non-refundable.  The last stage for cancellation or to gain your earnest back is IF THE HOME IS IN SIGNIFICANTLY DIFFERENT CONDITION upon your final walk-through than it was when we made the offer and performed the inspection, and the buyer wishes to cancel.
Q: What happens if the appraisal comes in low?
A: The seller and buyer have to renegotiate the contract sales price.  Both can concede or one party may not. If there is no agreement reached, the PA is cancelled.

 

Q: Who pays for the inspection?
A: The buyer Should always pay for an independent inspection

 

Q: What happens if something comes up during inspection?
A: The buyer and seller will need to negotiate through the items, based on each parties’ wishes to move forward and what they are willing to concede or not.

 

Seller FAQ:

Q: Who stages the home? And Why do we need to do that?
A: I do.  We try to you use as much of your own things so the home still feels like you.  I also bring things in to help the image and over-all feel.  The real work is in recognizing what needs to be removed and stored.  You are moving anyways, so let’s start packing. We can be creative with space. Trust me.  Refer to my staging page.

 

Q: What happens if I sell fast and I don’t have a home picked out yet?
A:  We plan for worst case scenario: temp housing. The goal is to have you settled the same day of your sale or before, based on what your financial status dictates.  We can make the sale of your home contingent on the successful finding of a new home. I recommend being prepared to sell it, and if it happens, that you give and commit to a close date.  You will find a new home, you won’t always get the price you want for the one you’re in.  Strike while the iron is hot.

 

Q: Why do I have to leave for the inspection and the appraisal?
A: That is the buyer’s intimate time with the home, and for them to go through it and make sure they are comfortable purchasing.  If there is that added pressure it can actually make the deal go south because buyers think you are hiding something.

 

Q:  Why do I have to pay for radon mitigation?
A: You don’t have to, but you should.  If you can afford it.  The findings stick with and must be disclosed and MOST buyers are going to ask that that is mitigated.  Might as well do it, and move on. I highly recommend this.

 

Q: Why do I have to pay the buyers closing costs?
A: You don’t.  But you can.  It depends on the offer, the price and the buyer’s needs in order to buy and your motivation to sell.  It all comes down to the bottom line. Sometimes we have to spend money to make money.

 

Q: Why do I need carpet and paint to sell?
A: So you CAN sell.  That is what buyers want. I am sure you would want that too.  This is considered a maintenance item, and should be done every so many years.  This is a wow and fresh factor for the buyer.

 

Q: How do we get paid?  (The agents)
A: A set listing percentage is applied at the time of the agreement anywhere from 5.5% to 7%.  I have been at the 5.5% for 7 years, and intend to keep passing that savings on to my sellers.  It really helps their bottom line, and I like to give back to them for choosing me.  I organically have grown this business by referrals and a lot of it has been through fast and smooth listings.  I am known to “work” and “get it done”