Here are the anserws to some of the questions I get from buyers after they have found a home they want to write an offer on.
Q-Should I be present during the inspection?
A-It's not necessary; the inspector will provide you with a report that you can review. The inspections are often very time consuming. After we get the report back, we can then go back to the home and look over the items the home inspector brought to our attention.
Q-Do I need to talk to an insurance agent?
A-Yes, we offer a home warranty that covers the basics of your home for one year. You can purchase it or ask the seller to purchase it for you.
Q-What's "earnest money" and how much do I need?
A-When you write an offer you have to include earnest money. Generally, on an average price home the earnest money is $500. On larger homes it is $1,000 or more. The money is credited to you at closing.
Q-How do I determine the price of the initial offer?
A-There is really no formula to use in calculating a realistic offer. Naturally, the seller wants top price, and the buyer wants the best price. Most buyers and sellers negotiate, with both sides "giving" a little until both agree. This is where a realtor can come in handy.
Q-If I'm moving a considerable distance, is there a way I can gather information before I start traveling?
A-Yes, we can send you information on the area, homes, schools, and available recreation by mail, e-mail, or fax. We can also recommend some excellent web sites to check out more information.
Q-Are there any mortgages designed for first-time buyers?
A-There are a number of loan programs for first time home buyers. Designed to make purchasing a home easier, they minimize down payments and keep monthly payments as low as possible.
Q- Can I get an FHA or VA mortgage?
A-Just about anyone can apply for an FHA loan. They generally require a low down payment and are well suited for buyers with a moderate income. However, there are amount limits on FHA loans. VA loans are very similar to FHA, but these loans are reserved for active military personnel, veterans, or spouses of veterans who died of service related injuries.
I would love to answer any of your other questions. Please email me anytime.
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