Real estate questions are important to ask when you are thinking about buying a home. The process can be daunting, but my years of experience help to put buyer’s at ease. I have heard just about every questions that there is. So, I put together a list of some of the most common real estate questions when buying a home.
Real Estate Questions & Answers for Buyers
How do I know what home I can afford?
The answer to that question is dependent on your income and financial obligations. Online calculators can help you get a rough idea. It is important to figure this out before you start browsing homes. Also, work with a lender to secure pre-approval for your home loan. That will make you a more attractive candidate to sellers as well.
How do I go about buying a home while selling my current home?
This can be a little tricky, but I help folks with this all the time. Keep in mind that if you buy a home before you sell the one you’re in, could be overextended financially. If your home sells before you buy, you might need to rent before while you secure a new home. You can also do both at once with a “sale contingency” in your contract. It states that you will only buy the home if you can sell the one you are in. This can be less attractive to your seller though.
How many homes should I see before I make a decision?
There is no right or wrong answer for this one. You can browse my website to see hundreds of homes before viewing them in person. On average, most people check out about ten properties before they make an offer. But that is totally up to you. Keep in mind the area you prefer and if that is flexible.
What is a fair asking price?
As a traditional rule of thumb is 5% less than the asking price. That doesn’t offend the sellers and gives you room to negotiate. I can help you determine what is appropriate based on a variety of factors. If a home has been on the market for months, the sellers may be willing to accept a lower offer.
How do I know if a home is a good value?
By checking out comparable homes in the area, I can help you assess whether a seller is asking a fair price.
Do I need to get a home inspection?
The answer to that one is simple – yes! You don’t want any unknown expenses popping up after you close. It is important to know the condition of the roof, heating, plumbing, etc. Making sure these things are in good working order prevents you from paying to fix them in the future. If items need to be repaired, you can also negotiate with the seller to get those fixed.
This just scratches the surface of real estate questions that buyers may ask. As a real estate professional, I am committed to making sure that my clients have a good understanding of the entire process.