THE CHAPIN TEAM-RE/MAX SIGNATURE
REAL ESTATE FAQS
You’ve Got Questions–We’ve Got Answers
Find out if we’ve already addressed the questions on your mind. If there’s something we haven’t covered, get in touch with us today. The Chapin Team is here to help you however we can.
Buyer FAQs:
Q: What is the first step in the home buying process? A: The first step in the home buying process is getting pre-approved for a mortgage. This will give you an idea of how much house you can afford and show sellers that you are a serious buyer.
Q: How do I find a home that meets my needs? A: Start by making a list of your must-haves and nice-to-haves in a home, such as location, number of bedrooms, and square footage. Then, work with a real estate agent to find homes that meet your criteria.
Q: How much should I offer for a home? A: The offer price should be based on the market value of the home, as well as factors like the condition of the property, the local real estate market, and the seller's motivation. Your real estate agent can help you determine a fair offer price.
Q: What is a home appraisal? A: A home appraisal is an evaluation of a property's market value conducted by a professional appraiser. Lenders require appraisals to ensure that the home is worth the amount they are lending.
Q: How much money do I need for a down payment? A: The down payment amount depends on the purchase price of the home and the type of mortgage you are getting. In general, you will need to put down at least 3% to 20% of the purchase price.
Seller FAQs:
Q: How do I prepare my home for sale? A: Start by decluttering and depersonalizing your home, making any necessary repairs, and staging your home to showcase its best features. Your real estate agent can provide more guidance on preparing your home for sale.
Q: How much should I list my home for? A: The listing price should be based on the market value of the home, as well as factors like the condition of the property, the local real estate market, and the competition. Your real estate agent can provide a comparative market analysis to help determine a fair listing price.
Q: What is a home inspection? A: A home inspection is a thorough examination of a property's condition, including its structure, foundation, plumbing, electrical systems, and more. It is typically conducted by a professional inspector hired by the buyer.
Q: What is a contingency? A: A contingency is a clause in a contract that outlines certain conditions that must be met before the sale can be completed. Common contingencies include home inspections, financing, and appraisal.
Q: How long does it take to sell a home? A: The time it takes to sell a home depends on various factors, including the local real estate market, the condition of the property, and the listing price. It can range from a few days to several months.