Most Frequently Asked Questions–As Told By a Realtor

First Time Home Buyer?

We did our research, we reached out to some of the top realtors, and asked them what they hear most from first time home buyers. This way you have a bit of a guide-- you'll know what is typically asked, what you should research yourself, what the realtor should be able to tell you, and maybe pick up on some things that you might not have thought to ask. 

The most common questions first time home buyers/sellers ask realtors are: 

  • Should I talk to a bank before I look for homes?---the answer is yes, it is a good idea to do this before you look to buy. 
  • What is a short sale?
  • What is an earnest money deposit?--good faith money that goes toward the down payment to show you are serious
  • How do we back out of a deal if we change our minds?
  • Who pays the realtor fees?---the seller
  • Is this a good idea?
  • Do you think this property is a good investment?
  • What do the comps look like? 
  • Do you think the seller is willing to negotiate?
  • Do you think the buyers are serious?
  • How much is my home worth?
  • Did they provide proof of funds?
  • What if my offer is rejected?--possible counteroffer can be given
  • What kind of credit score do I need to get a home?----typically over 620
  • How much should my down payment be?---at least 3.5%
  • Do I need a final walk through?--not required but recommended
Now, there are plenty more questions to ask that will be specific to you and your home that you are either selling or looking to buy. This is just a general list as give to us from some of the nation's top realtors. When you are meeting with your realtor, be sure to bring a list of questions with you and prepare beforehand, that way you do not have to scurry to find answers when a question comes to mind during the process or before it is too late. 

First Time Home Buyer?

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