Frequently Asked Questions
You can use this guide to familiarize yourself with rules, laws and other important information relating to your property.
Sellers
Most people think of selling a home as a business transaction. But don’t forget, you’ve also made memories in your home and sometimes it can be hard to separate those feelings from the sale. You probably have a lot of questions and in order to ensure a successful sale, it’s important to arm yourself with as much knowledge and information as possible.
Traditionally, the Spring and Summer have always been the best seasons to sell your home. Why? The school year is coming to an end and most families try to plan a move during the Summer months. People also have a tendency to transfer and start new jobs during the spring and summer months as well. Additionally, the weather is nicer and believe it or not this can have a big effect on the successful sale of a home. Homes look better in the spring and summer months and people are more likely to visit multiple homes in the warmer weather, spending a quality amount of time at each.
However, this doesn’t mean you can only sell your home in the spring and summer months. Every real estate market is different. Your professional real estate agent will be able to help you determine when the best time to sell your house might be.
Chances are your home isn’t “showing ready” right now. Successfully selling your home is all about appearances and first impressions are everything! Taking the time up front to prepare your home will likely mean it will sell quicker and for a better price. So what can you do now?
Clean and then clean some more – not only is stepping into a dirty home gross, but it also could make the buyer question the overall shape and health of the home itself. We’re talking about a deep clean here – baseboards, fans, carpets.
Organize and remove – it’s a fact that homes that are void of clutter and personal effects sell quicker. You want your potential buyer to see the home, not your personal belongings. In some cases, you may even be hiding a selling point that the buyer will miss. You want the buyer to be able to their life in their new home. Not yours.
Repairs – you’ll find mixed opinions on whether or not you should make repairs to your home before putting it on the market. Some will say to wait until you are under contract. Others will tell you to make the repairs before the For Sale sign goes out front. The correct answer is probably somewhere in the middle. Small items like leaky faucets, cracked tile, running toilets broken windows and leaking roofs are all things that you may want to repair prior to showing your home for the first time. Your home will probably be one of the most expensive possession you ever sell, so why wouldn’t you want it to be in its best condition from the start.
Tone it Down – most real estate agents will recommend that you tone down the bright colors and unique designs. Just because you love it, doesn’t mean a new buyer will and believe it or not, some buyers can’t envision what the home could be with a little new paint. Dark colors will make your home appear smaller than it really is. The best course of action is to pick a neutral color.
Don’t Forget Curb Appeal – first impressions are everything in life and it’s no different for real estate. Your home may be someone’s dream house, but if they never see the inside how will they know? Make sure you keep your lawn cut and shrubbery trimmed, as well as the outside clean to avoid the dreaded “drive-by” buyer.
A home stager is a professional whose styles home to enhance its attractiveness to potential buyers. Most homes show better with furniture than without, so if you’re not living in your home presently, hiring a home stager may be a good idea. This will help potential buyers envision what the home could be.
However, it’s not a requirement. What you do want to consider is how you’re using the furniture you do have and whether or not it enhances your home’s best qualities. You may want to remove a few pieces to make the rooms look bigger or consider rearranging them to increase the flow of your home. A professional real estate agent has the experience and knowledge needed to help guide you along the way.
Here’s the million dollar question! Correctly pricing a home for sale is crucial. An over priced home will sit on the market longer, which often times leads to greater stress for you and in the end a lower sale price. On the flip side, pricing your home too low may make buyers wonder why – what’s wrong with the home? To determine the market value of your home, a professional real estate agent will look at recent sales of similar homes in the area and then perform a Comparative Market Analysis to determine what a buyer is most likely to pay for your home in the current market. The market price of your home is not the same as the tax value and it is important to remember that only a trained professional can accurately price your home. Online sources often times miss key information that would greatly effect your price.
This varies form real estate market to market. However the average time is anywhere between 30 and 45 days from the time of contract. Much of the timing is dependent on the buyer and the buyer’s lending situation. During the contract period, the buyer will likely perform his/her home inspections and appraisals. This takes time and depending on the outcome, could affect your closing date. It’s always a good idea to work closely with your real estate agent to ensure that you are doing all that you can to hit that closing date successfully. It is also important to let your agent know if you have any extenuating circumstances, such as a new home purchase or work requirement, that would require a quicker closing.
No one can force you into hiring a real estate agent to sell your home. But consider this: your home is one of your most valuable possessions. Real estate agents have the knowledge and experience required to help you successfully sell your home. Consider how many homes a real estate agent has probably sold throughout his/her career. They have the ability and resources to accurately price your home, market your home and negotiate on your behalf. That’s why they’re called professionals.
Buyers
Buying a home can be a daunting process. It’s one of the biggest financial investments you’ll ever make and whether you’re a first time home buyer or an experienced one, you’re bound to have a few questions.
The short answer is that really depends on your income and current financial obligations. Only a lender or mortgage broker can give you an accurate estimate of what you can afford. Contacting a mortgage broker is the best place to start your home buying process. This will help you narrow your home search from the very beginning. Knowing your price range up front will help avoid disappointment and missed opportunities later.
Perhaps you think you already know what you can afford. That doesn’t mean you shouldn’t contact a mortgage broker as soon as possible.
First, you can start collecting the necessary financial documents that they will require in order to approve your mortgage once you are under contract. These requirements can vary from person to person, so it’s important to talk to your mortgage broker about what you will need to provide.
Second, most sellers will require some sort of documentation to show you are in fact financially capable of purchasing their home. Some will even require a letter from your mortgage broker to be attached to any offer you submit. Having this ready to go at a moment’s notice, will again help you save time and lessen the chance that you’ll miss out on your dream home.
Welcome to the fun part of the buying process! Searching for homes can be both exciting and frustrating at the same time. It’s important you have at least some idea of what you want before jumping in the car and heading out. This will help narrow your search and avoid the possibility of missing out on your dream home. Consider making your ABC list.
A’s are your most important and immediate requirements – bedroom count, bathrooms, size, location, school district, etc.
B’s are all the things that would be nice to have, but aren’t necessarily deal breakers themselves. This is where you can delve into more superficial desires, such as granite counters, hardwood floors and stainless steel appliances. It would be great if the home already had these updates, but it’s not the end of the world.
C’s are the deal breakers. These are the items that would knock a home off the list before you’ve even seen the inside regardless of how great of a match it is otherwise. Need a garage for your vintage 1957 Chevy? No garage. No deal.
Typically it takes around 30 – 45 days from offer to close. However, there are a lot of factors that can influence timing – loan approval and appraisals being two of the most common. It is important to keep in touch with your real estate agent and your mortgage broker to ensure that you’re doing everything you can to move forward smoothly and efficiently.
No one can force you into using a real estate agent to purchase your home, but remember there is a reason why we are called professionals. This is one of the biggest financial purchases you will ever make, so why wouldn’t you want someone looking out for you. Real estate agents have the education, knowledge and experience needed to ensure you’re getting the best deal possible in the local market.
How Many Homes Should I View Before Buying One?
This is an impossible question to answer, because it entirely depends upon you and the local real estate market. Some buyers will walk into the first house on the list and yell “this is it!” Others will see 10 -20 homes and still not find “the one.” The Internet has given buyers the ability to search through hundreds of homes in the comfort of their own home before actually making an appointment to see one in person. Having a good idea of what you’re looking for will help narrow down your search and limit the number of homes you will likely see in person.
There is no definitive way of knowing whether or not you’re getting a bargain when you purchase a home. Real estate is a long-term investment and its impossible to predict how much the home will appreciate over the years. By looking at recently sold properties in the area and comparing them to the property you are looking to purchase, you’ll have a pretty good idea of whether or not you are paying a fair price in today’s market. Your real estate agent has access to all of this data and can help you interpret what it means. Another good reason to hire a professional.
The short and long answer is Yes! This is one of the biggest financial investments you will ever make and therefore you want to be as informed as possible before closing. A home may look perfect on the outside, but only a qualified home inspector can actually verify that the home you want to purchase is in ship shape. Just because the inspection report comes back highlighting potential issues and repairs, it doesn’t mean you should run from the deal. But, you want to know up front what you’re getting yourself into.
This holds true for new construction as well. While most home builders pay excellent attention to detail, mistakes and accidents happen. Having a 3rd party home inspection will help uncover potential issues that do exist.
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Dmitry went above and beyond with our purchase. I couldn’t have asked for a better agent that was professional and caring.
Dmitry is a hard working agent who is the kindest, knowledgeable, loyal and honest. He will always be our go to person as “they don’t make them like that anymore!
Dmitry was our main point of contact and was always ahead a few steps ensuring that we're not wasting time and that there is no delay. I cannot recommend him more highly for any of your real estate needs.