Most common FAQ’s for Buyers and Sellers

  • The first step is to determine how much house you can afford. Start by checking your credit score, saving for a down payment, and getting pre-approved for a mortgage. A pre-approval will help you understand your budget and show sellers that you’re serious.

  • It depends on the loan type. Conventional loans typically require 5–20%, but some programs, like FHA loans, allow as little as 3.5% down. There are even VA and USDA loans with no down payment requirements for those who qualify. Talk to your lender to find the best option for you!

  • In addition to your down payment, you’ll need to budget for closing costs (usually 2–5% of the home's purchase price), home inspections, moving expenses, and ongoing maintenance. Don’t forget about property taxes and homeowners insurance!

  • Yes! A home inspection is one of the most important parts of the home-buying process. It helps uncover potential issues before you commit. Spending a few hundred dollars on an inspection can save you thousands in repairs later.

  • The timeline can vary. It typically takes 30–45 days from getting your offer accepted to closing. However, the entire process—starting with your search—can take several months. Be patient and stay flexible!

  • PMI is required for conventional loans if your down payment is less than 20%. It protects the lender if you default on your loan. Once you reach 20% equity in your home, you can often cancel PMI.

  • A good rule of thumb is to keep your monthly housing costs (mortgage, insurance, and taxes) under 30% of your gross income. Use a mortgage calculator to get an estimate, but always consult with a lender for more personalized advice.

  • Pre-qualification is an estimate of what you might be able to borrow based on self-reported information. Pre-approval is more thorough—a lender verifies your financial information and gives you a concrete amount you’re approved for.

  • You’re ready when you have a stable income, a good credit score, savings for a down payment, and a long-term plan to stay in the area. Buying a home is a big commitment—make sure you’re financially and emotionally prepared.

  • Yes! There are federal, state, and local programs designed to help first-time buyers with down payment assistance, grants, and low-interest loans. Check with your state housing agency or lender for more details.

First time home buyers

First time home sellers

  • The first step is to determine your home’s value. Contact a real estate agent for a market analysis or get an appraisal. Understanding your home’s worth helps set a realistic asking price and prepares you for the selling process.

  • Pricing your home correctly is crucial. Research comparable homes in your area, consider current market conditions, and consult a real estate agent. Overpricing can deter buyers, while underpricing can leave money on the table.

  • It depends on market conditions, location, and price. On average, it takes 30–60 days to sell a well-priced home in a healthy market. Homes in high-demand areas may sell faster, while others may take longer.

  • Common costs include real estate agent commissions (typically 5–6%), closing costs, repairs, staging, and moving expenses. Depending on your situation, you may also have to pay for home warranties or transfer taxes.

  • It’s a good idea to address major repairs and cosmetic improvements to attract more buyers and increase your home’s value. Focus on things like painting, fixing leaks, and improving curb appeal. A pre-listing inspection can help identify any issues.

  • Home staging is preparing your home to appeal to buyers. This often includes decluttering, rearranging furniture, and adding decorative touches. While not mandatory, staging can make your home look more attractive and help it sell faster.

  • It’s best to leave the house during showings. Buyers feel more comfortable when they can explore freely and visualize themselves in the space. Trust your agent to handle showings and answer questions.

  • Fix any known issues, clean the house, and ensure the inspector has easy access to all areas, including the attic, basement, and electrical panels. A well-maintained home makes a better impression during the inspection.

  • Once you accept an offer, the buyer typically conducts inspections, secures financing, and finalizes the purchase. Be prepared for potential negotiation on repairs or contingencies. The process usually takes 30–45 days to close.

  • Multiple offers can be exciting but overwhelming. Don’t just look at the highest price—consider other factors like contingencies, financing, and closing timelines. Your agent can help you compare offers and negotiate the best terms.