Question 1

What’s the first step in the homebuying process?

Accepted Answer

Getting pre-approved is the best first step. It helps you understand what price range you can comfortably shop in—and remember, you can always choose a mortgage budget that feels right for you as long as your approval amount meets or exceeds that number.

It’s also important to schedule a call or meeting with your realtor early in the process. This gives you a chance to learn what to expect, ask questions, and get a clear roadmap for buying so you can move forward with confidence.

Question 2

How long does it take to buy a home?

Accepted Answer

That depends on how long it takes for you to find the right home and get an offer accepted. Once you are in contract, the average escrow is 30 days.

Question 3

What does a Realtor® do?

Accepted Answer

A REALTOR® is your most valuable asset when buying a home. They will walk you through every part of the home buying process. They will educate and inform you of all your options. They will represent you throughout the transaction and beyond.

Question 4

Do I Need a Home Inspection?

Accepted Answer

Yes—getting a home inspection is highly recommended. A home inspection gives you a detailed look at the property’s condition before you commit to the purchase. It helps you understand any current issues, potential future repairs, and overall safety or maintenance concerns.

The inspection report can also give you leverage during negotiations. If significant issues are found, you may be able to request repairs, credits toward your closing costs, or a price adjustment depending on your agreement with the seller.

In short, a home inspection protects you. It ensures you know exactly what you’re buying and helps prevent costly surprises after you move in.

Question 5

How much money do I need for a down payment?

Accepted Answer

Conventional loans are usually require a 20% down payment. There are programs that offer as low as about 3% down. Your loan officer can help advise you on your best options.

Question 6

Are there other fees required when financing a home loan?

Accepted Answer

The down payment is usually the largest cost associated with buying a house. Lending fees are the second largest costs to homebuyers. Most lenders will charge between 2% to 4% of the loan amount for loan origination fees, depending on the loan type. Conventional loans usually have lower loan origination fees, but require more money down. Your loan officer will be able to help you determine how much you can expect to pay towards loan origination and closing cost.

Question 7

What happens in a multiple offer situation?

Accepted Answer

The seller makes a choice as to which offer they want to accept. Your agent can help you set yourself up for success and put your best foot forward.

Question 8

Do the appliances come with the house?

Accepted Answer

The appliances that remain with the home should be listed in the contract. Your agent can help you negotiate the terms of the contract for any appliances that you may want to be a part of the sale. The Seller is not obligated to leave appliances that are not built in.

Question 9

What are Seller Closing Costs?

Accepted Answer

Seller closing costs—often called seller credits—are funds the seller agrees to contribute toward your closing expenses. Instead of lowering the price of the home, these credits directly reduce the amount of cash you need to bring to closing.

These credits can be applied to things like your loan costs, prepaid taxes, insurance, interest, and certain lender-approved fees. They cannot be taken as cash back but must be used for specific, allowable items on your closing statement.

Example:
If your closing costs total $12,000 and the seller agrees to give you $7,000 in credits, you only need to bring the remaining $5,000 to closing. The seller’s contribution helps lower your upfront expenses and makes your final cash-to-close more manageable.

In short, seller closing costs are a financial benefit to you as the buyer—reducing what you need to pay out of pocket while still keeping your loan and purchase terms intact.

FAQs FOR BUYERS