Your Real Estate Questions Answered Buyer Frequently Asked Questions Do I Need to Be Pre-Approved Before Looking at Homes? Yes. A pre-approval helps determine your budget and shows sellers you are a serious buyer. How Much Money Do I Need for a Down Payment? It depends on the loan program. Some loans allow down payments as low as 3%–3.5%, while others may require more. What Costs Should I Expect Besides the Down Payment? Buyers should budget for closing costs, inspections, appraisal fees, and moving expenses. How Long Does It Take to Buy a Home? Most transactions take approximately 30–45 days from contract acceptance to closing. Can I Request Repairs After the Inspection? Yes. Buyers may request repairs, credits, or other concessions based on inspection findings. What Happens if the Home Appraises Below the Purchase Price? The buyer and seller may renegotiate the price, the buyer may pay the difference, or the transaction may be canceled depending on the contract terms. What is Earnest Money? Earnest money is a deposit showing good faith that is applied toward the buyer’s costs at closing. Why Should I Use a Real Estate Professional? A real estate professional helps negotiate terms, coordinate inspections, manage deadlines, and guide you through the entire process. Seller Frequently Asked Questions How Do I Determine My Home’s Value? A comparative market analysis (CMA) reviews recent sales, active listings, and market conditions to estimate value. Should I Make Repairs Before Listing? Minor repairs and cosmetic improvements can help attract buyers and potentially increase your home’s value. How Long Will It Take to Sell My Home? Market conditions, pricing, location, and property condition all affect how quickly a home sells. What Are Closing Costs for Sellers? Seller closing costs may include commissions, title fees, prorated taxes, HOA fees, and any agreed-upon buyer credits. Can I Sell My Home While I Still Live in It? Yes. Many homeowners remain in the property during the listing and showing period. How Important is Pricing? Proper pricing is critical. Overpricing may reduce showings, while competitive pricing often attracts more buyer interest. What Happens if I Receive Multiple Offers? Your agent can help compare price, financing strength, contingencies, and closing timelines to select the strongest offer. What Should I Do to Prepare for Showings? Declutter, clean thoroughly, maximize lighting, and secure valuables to make the best impression on buyers. Property Management Frequently Asked Questions What Services Does a Property Manager Provide? Property managers handle marketing, tenant screening, rent collection, maintenance coordination, inspections, and lease compliance. How Do You Screen Tenants? Screening may include credit checks, income verification, rental history, background checks, and employment verification. How Quickly Can You Rent My Property? The timeline varies based on market conditions, pricing, property condition, and location. Who Handles Maintenance Requests? Property management coordinates maintenance requests and works with licensed vendors when necessary. How Are Rents Collected? Most property managers offer online payment options and monitor timely rent collection. How Often Are Property Inspections Conducted? Inspection schedules vary but commonly include move-in, move-out, renewal, and periodic property inspections. What Happens if a Tenant Stops Paying Rent? The property manager follows the lease agreement and applicable state laws regarding notices, communication, and possible eviction proceedings. How Do Owners Receive Updates? Owners typically receive regular statements, maintenance reports, and communication regarding tenant activity and property performance.
