Most Frequently Asked Questions About Working With Realtor

Additional Frequently Asked Questions

Most frequent questions and answers

Should I talk with a bank before looking at homes?

The answer to the question is YES!  There are tons of reasons why you should talk with a bank and get pre-approved before looking at homes.  First and foremost, talking with a bank before looking at homes can help you understand exactly how much you can afford.  There is no reason to look at homes that are listed for $250,000 if you can only afford up to $200,000.

If you’re a first time home buyer, talking with a bank before looking at homes is strongly suggested, as there are many first time home buyer programs available.  These programs can vary from state to state and county to county, so knowing exactly what’s available to you, is critical.

I own a home, should I buy another before selling my current home?

There is truly no concrete “correct” answer to this question.  There are pro’s and con’s to buying a home before selling your current home and the same can be said about selling your current home before buying another.

Buying a home before selling your current home

The biggest benefit to buying a home before selling your current home is the fact that you have a suitable property lined up.  This can reduce the stress and pressure of having to find a home once your current home is sold.  This however also can create disappointment and heartbreak.  If you are unable to purchase a new home without having to sell your current home, you’re purchase offer is going to be contingent upon sale and transfer of title of your current home.  If your current home does not sell in a timely manner, this can lead to you getting “bumped” by a non-contingent buyer and you losing out on the home you’re looking to purchase, which can be devastating.

Do I really need a Realtor when buying a home?

When buying a home, it’s strongly recommended you have a Realtor.  There are many reasons why you should have a Realtor represent your best interests when buying a home.  Keep in mind, all Realtors are not the same!  When choosing a buyers agent, make sure you know how to properly interview prospective Realtors when buying a home.

Attempting to buy a home without a Realtor can really make the home buying process more difficult.  Having a Realtor is always recommended when buying a home.  One thing not to do when buying a home is calling the listing agent because you don’t want to “bother” your Realtor.

Who pays the Realtor fees when buying a home?

One reasons why buyers ask the question about the need of having a Realtor when buying a home is because they don’t understand who pays the Realtor fees when buying a home.  There are no guarantees, however, in most cases the seller pays the Realtor fees.

How many homes should I look at before putting in a purchase offer?

This question is often asked and is a simple answer.  The answer is, there is no specific number of homes you should look at before buying a home.  Don’t feel that if you were to purchase the first home you look at that you’re making a mistake.  Same can be said if it takes you looking at 25 homes.

How much should I offer the sellers?

When buying a home, you are the only one who can determine how much you should offer a seller.  Certainly it’s suggested you ask for your Realtors advice and thoughts, but ultimately you are the only person who can determine how much you should offer.

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Address2447 Pacific Coast Highway, 2nd Floor, Hermosa Beach, CA 90254

Email dwest@thepowerhouserealestate.com