Frequently Asked Questions About Buying & Selling Real Estate

 

As your real estate agent, I am your consultant; here to answer questions, offer advice, and provide insight into buying and selling real estate. Below are a few of the questions I am frequently asked. Feel free to contact me with any questions you might have.

 

  • Why should I use a real estate salesperson?

A real estate salesperson does much more than just sell real estate. They act as your agent, providing you with advice, guidance, and acting on your behalf in the sale. There are times when you need the most current information about a property you have an interested in and the only way to get the most current information is a professional real estate agent. Because the internet can provide potential buyers and sellers much of the information they need, expertise and ability have become what sets one real estate agent above others. Also, only a real estate agent can get your property listed in the MLS.

  • Is there a certain percentage most sellers will mark up the price of a home? How do I know if an initial offer is too low?

There is no standard percentage or amount as far as property sales go. Most properties have an asking price above the expected sales price, but how much depends on the seller and the property. Before you make an offer, a professional Realtor will go over the comparable sales of other similar homes in the same neighborhood. Your agent is exactly that; someone working on your behalf to ensure that you get the best possible price when buying or selling a home.

  • How important is the Home Inspection? What kind of things does the home inspector look for?

A thorough home inspection is your best opportunity to spot potential problems that might result in expensive repairs. The Inspector should be checking the following things: proper drainage around the house and property, a solid foundation, the condition of the roof and any sign of water leaks, plumbing and fixtures, electrical wiring including non-functioning switches and outlets, adequate and properly insulated heating and cooling systems, defects in the fireplace or chimney, uneven flooring or weak spots in the subflooring.

  • I found a home I love but it is listed for sale “as is.” Is a home inspection required before the loan can be approved? Will a bank approve a loan on a home needing repairs?

Most home sales do not require a home inspection. Homes listed for sale “as is” indicate the seller is unwilling to make repairs to the property or negotiate the cost of repairs in order to sell the property. While banks will not require a home inspection, they will often require the property to pass a termite inspection – which will include indications of structural defects. Also some home loan programs, such as FHA loans, do have specific requirements regarding the condition of the home.

Operated by a subsidiary of NRT LLC.