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FREQUENTLY ASKED QUESTIONS

BUYING

- Is pre-approval necessary before purchasing? 

Obtaining pre-approval from a mortgage lender is one of the most important steps when purchasing a obtaining a home. This process determines your monthly payment, interest rate and the total amount a bank will lend towards the purchase. Most, if not all Sellers and Listing Agents will not entertain an offer without a current pre-approval letter.

- Is a home inspection really necessary?

Yes. The are many issues that may be wrong with a property that are not visible with the naked eye. Some of these issues are sometimes only discoverable with professional help. Knowing any problems upfront will help to negotiate a fair price for the property.

- Is down payment separate from closing costs?

Yes. Your down payment is separate and can be anywhere from 3%, to as high as 25%, depending on the type of loan you are using and the type of community you are buying into. 

Closing costs are separate and usually include charges such as loan origination fees, title insurance, deed- recording and pre-paid fess such as Taxes and Homeowners Association dues. Closing costs can be additional  3-7% of the purchase price

SELLING

- Is now a good time to sell?

Depending on market conditions, the state of your home and any personal considerations, the answer could be yes or no. 

Current conditions including the lack of inventory and high prices indicate that it's a good time to sell real estate.

- Should I sell my house as a For Sale by Owner (FSBO) or use a Realtor?

Use a Realtor.

Some of the biggest hurdles that a FSBO will encounter include but surely not limited to : Understanding the legal requirements and paperwork to complete a transaction, experience navigating problems that will arise and access to a large network of buyers and other agents, also with buyers.

- How long will it take to sell?

Property location, condition, competing sales and list price will all play roles in how quickly o home will sell.

now a good time to sell?

Depending on market conditions, the state of your home and any personal considerations, the answer could be yes or no. 

Current conditions including the lack of inventory and high prices indicate that it's a good time to sell real estate.

- Should I sell my house as a For Sale by Owner (FSBO) or use a Realtor?

Use a Realtor. Some of the biggest hurdles that a FSBO will encounter include b