1. What should I do before considering purchasing a home?
2. What is the first step when purchasing a new home?
It is important to know your buying power and you are pre-approved prior to starting your home search. This will allow you to concentrate on properties within your price range.
3. What is the cost of getting pre-qualified?
There is no cost for getting pre-qualified.
4. How do I choose my mortgage?
It is recommended that you consider your financial goals and long-term plans to determine which loan program is best for you.
5. Do I have to pay you to represent me?
Usually, the Seller will pay the Listing and Buyer’s Agent an agreed upon commission.
6. If I find a home that is not listed by you, can you still show it to me?
Yes, I am able to show you any home, new or resale, regardless of who is the listing office.
7. What do I do when I find the house I want?
You will need an earnest money check to accompany your Offer to Purchase. Usually, a minimum of 1% is acceptable. At this point, the Seller may accept your offer, reject your offer or counteroffer. Negotiations will begin. When the Seller accepts your offer or you accept his/her counteroffer in writing, you have a legal binding contract for the sale of the property. Your money will be deposited in the listing broker’s trust account until close of escrow.
8. Is it a good negotiating strategy to submit a low offer at first?
You should take into consideration that if your offer is too low, another buyer may submit a higher offer before you get an opportunity to submit another offer, or accept the Seller’s counteroffer. There have also been instances when the Seller is insulted by the low offer and refuses to entertain any more offers from you. Also it is common to have multiple offers on many REO properties, if that is the case, you should submit your best and highest. Your Realtor will give you input to help you decide what to do.
9. How long is escrow?
The length of time escrow is opened varies by transaction. There are various factors that affect the length of time escrow is opened. It varies by transaction.
10. When do I get my keys?
At the close of escrow, your Agent will contact you regarding the disbursing of your keys.
Kathy Dyer Realtor CABRE #01723710
KW Coastal Estates
Carmel Ca. 93923