FAQ
Am I Ready to Be a Homeowner?
If you have a stable income, manageable debt, a solid credit history, and savings for a down payment and closing costs, you may be ready for homeownership. It’s also important to consider if you’re prepared for the responsibilities of home maintenance, property taxes, and long-term commitment to a location.
Is Renting or Buying Better?
It depends on your lifestyle, financial goals, and how long you plan to stay in one place. Renting offers flexibility and lower upfront costs, while buying builds equity and can be a great long-term investment. We can help you evaluate which option makes the most sense for you right now.
Do I need a pre-approval letter?
Yes, it’s important to get at least a prequalification letter from a lender. Pre-approval is a lender’s written commitment that you qualify for a mortgage up to a specific amount. It shows sellers you’re a serious buyer and gives you a clear idea of your budget. It’s a crucial first step before house hunting.
What Do I Look for in Homes?
Start with your priorities—location, price, number of bedrooms and bathrooms, layout, and yard size. Also consider future needs, neighborhood amenities, school districts, and potential resale value. We’ll help you evaluate homes based on both your needs and your budget.
What Is the Lender’s Formula?
Lenders typically use the 28/36 rule: no more than 28% of your gross monthly income should go toward housing expenses, and no more than 36% toward total debt (including housing, credit cards, loans, etc.). Pre-approval will give you a clearer picture of what you can afford.
How Do I Start Working with you?
The first step to working with a real estate broker is to have a conversation about your goals—whether you’re buying, selling, or investing. Before a broker can represent you in a real estate transaction, state law requires that you sign a written agreement, usually called a Buyer Agency Agreement (for buyers) or a Listing Agreement (for sellers). This contract outlines the broker’s duties, how long they’ll represent you, and how they will be compensated.
How much is the commission?
Commission is typically 5% to 6% of the home’s sale price and is most often paid by the seller in residential transactions. This commission is usually split between the listing agent and the buyer’s agent, meaning buyers generally do not pay their broker out-of-pocket. However, if the seller does not offer a commission to the buyer’s agent, the buyer may be responsible for covering their agent’s fee, as outlined in the buyer agency agreement. ll terms will be discussed up front and clearly stated in your agreement, so you’ll always know what to expect.
Can I Ask You for Advice?
Absolutely! Whether you’re just starting to think about buying, need help understanding your options, or are ready to make an offer, I’m here to guide you. No question is too big or too small—my goal is to support you every step of the way.
What Should I Offer?
Your offer should be based on the home’s market value, current demand, how long it’s been on the market, and your budget. We’ll help you craft a competitive offer by researching comparable sales and negotiating on your behalf.
What Should I Expect at Closing?
At closing, you’ll review and sign all final documents, pay closing costs, and officially take ownership of your new home. Expect a final walkthrough, the settlement statement, and legal paperwork. We’ll be there to guide you through every step and answer any questions.
Do I Need a Home Warranty?
A home warranty can offer peace of mind by covering the repair or replacement of major systems and appliances for a set period, usually one year. It’s optional but can be especially valuable for older homes or if you’re not ready to handle unexpected repair costs.