Frequently Asked Questions

We have also made glossary of real estate terms available here.

How should I prepare my house before selling it?

Initial impressions hold significant weight, especially in real estate! Whether someone is physically inspecting a property or exploring it through virtual means, they will be on the lookout for any potential bargaining chips to lower the asking price. It is our responsibility to advise customers on the importance of ensuring that all fundamental systems such as HVAC, plumbing, and electrical, are in proper working order. Additionally, every room should be immaculate, uncluttered, and free of any visible damage or wear and tear.

What is the selling price of my home?

The price at which a house is sold can vary due to several factors. Among these factors, the most common are the locality and the prices at which houses of similar size are currently being sold. Additionally, the age and condition of the house should also be considered. If there are significant repairs that need to be done, it can negatively affect the property’s value. Moreover, the market itself plays a vital role in determining the price of a house. As with any other commodity, home prices are subject to fluctuations based on supply and demand.

Should I sell my current property before buying a new one?

Answering this question can be a bit challenging, as it largely depends on the individual’s financial situation and their ability to secure temporary housing. If the client requires additional funds to purchase a new home or meet the requirements of a mortgage plan, it would be wise to sell their current home prior to purchasing a new one. However, it is important to keep in mind that during the transition, you will likely need to arrange for temporary housing with a friend or relative, or by securing a short-term rental elsewhere.

Is there a reason my home’s assessed value differs compared to the market value?

A property’s valuation is determined by a public tax assessor. This is done annually for tax purposes. The fair market value is the price agreed upon by a willing buyer and seller. The assessed value and market value are usually different. Homeowners face a dilemma when it comes to the assessed value. If the assessed value increases annually, then their yearly taxes will also increase. However, when selling a house, a higher assessed value can boost its market value.

What is the first step in buying a home?

The absolute first step to buying a home is to get approved for a mortgage or provide an updated bank statement with your proof of funds if you are purchasing with cash. Without being approved for a mortgage it will be quite difficult, if not impossible, to purchase a new home. Connect with our preferred lender to get started today!

What is a mortgage and how does it work?

A mortgage is a financial loan that enables individuals to acquire property. Given the high cost of homes, most people lack the financial resources to purchase with cash. A mortgage provides a reliable solution by offering a secure loan with a fixed interest rate, which can be paid off over a period of 15 or 30 years. Additionally, if necessary, you have the option to refinance your mortgage and payments in the future.

Should I do a home inspection?

The simple answer is yes. A home inspection is one of the most vital steps when purchasing a property. A professional inspector has a keen eye for how well the house has been taken care of. The inspectors can comment on structural and cosmetic issues, along with any local code issues. Moreover, a home inspector will help you better determine the home’s value and provide documentation to receive homeowners insurance.

How does earnest money work?

Earnest money is a deposit that will be applied to your down payment at the beginning of a contract. It is made in good faith to demonstrate to the seller that the buyer’s offer is legitimate. The amount is usually 1-2% of the selling price and essentially takes the property off the market. The money also gives the buyer extra time to conduct a title search, get an inspection and property appraisal, and financing.

What is the process of using an escrow entail?

Escrow is a term that refers to a neutral third party, typically the Title company that is hired to handle the exchange of money, property transaction, and related documents. The escrow holds the money and documents in a trust until all terms and conditions of the sale are satisfied.

What happens if I decide to back out of buying a house?

It’s perfectly fine if you start to feel hesitant about a property. It’s normal for people to have second thoughts or want to explore other options. However, it’s important to keep in mind that if you do decide to back out, you may have to give up the earnest money. This is typically around 1-2% of the sale price of the home.

Do I work with you directly or with your team?

Building trust is key for any successful real estate transaction! To do that, the team communicates daily and is copied on all correspondence to ensure everyone is well-informed and up-to-date, even if you are primarily working with one person.

What is the best way to contact you?

Call, text, or email

Do you have a preferred partner network?

As the Homegrown Group, we believe building community is more important now than ever! In doing that, we have partnered with local businesses in our area to help each other. These professionals include real estate attorneys, mortgage lenders, contractors or handymen, moving companies, professional home stagers, and cleaning services.