21 most common home buyer questions
TRANSCRIPT
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21 MOST COMMON QUESTIONS
FROM
HOME BUYERS
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1. HOW DO I START THE SEARCH?
• Casually going to open houses
• Zillow is good for
initial searches • Be open to seeing
properties which don’t exactly meet your criteria
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2. W
HERE
DO
ES
by hiring an agent. visit Zillow to read
client reviews.
HOME BUYER
A FIRST TIME START?
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3. WHY DO I FIRST NEED
A PRE-APPROVAL? With a pre-approval you are confident in
your ability to secure a loan, you will know your limitations and learn a lot about
financing in the meantime.
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4. WHY SHOULD I SIGN UP
Zillow, Trulia and other online services have a delay in posting new listings and deleting old ones
Multiple Listing Service (MLS) is the original source of new listing information
wasting time on sold listings
ZILLOW
TRULIA
? FOR MLS
INSTEAD OF
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I NEED
manage the home buying process for you
A buyer’s agent’s obligation is to give you sound advice, and represent your interest
Without one, you may expose yourself to all sorts of risks, pay too much, or miss important deadline
WHY
DO
BUYER’S AGENT?
a
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IF I DON’T HAVE MUCH CASH? To invest in real estate you usually need a
minimum of 20% down, plus a cash reserve to support the property
in case it is not rented
INVEST
CAN I 6.
IN REAL ESTATE
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Questions
& money financing
about
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DOES HOW I OBTAIN
(GIFT, LOAN, 401K, HELOC)?
DOWN PAYMENT
This IS important.
Talk to a mortgage broker and your accountant
A MATTER
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HOMES IN
BROOKLINE ARE SO EXPENSIVE, MAYBE
I SHOULD KEEP RENTING?
Do not let BROOKLINE home prices intimidate you!
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SHOULD I BUY
o home buyers should buy on their own schedules
o the sellers’ market means prices will go up further.
ONLY BUYER’S
MARKET?
IN A
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HOW DO I KNOW I AM NOT
PAYING TOO MUCH
It is your agent’s job to help you make an offer which reflects the market and puts you in the best possible position
CONDO? FOR
OR A HOUSE
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HOW MUCH
Expect to pay about 6% of the cost of the home
CLOSING COSTS?
ARE
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WHAT IS
When a homeowner lives in their property, (as opposed to renting it out), it is eligible for residential exemption in some towns and Cities
Save money on real estate taxes
It is your responsibility as a new homeowner to file for the exemption on time
EXEMPTION? RESIDENTIAL
a
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CAN I BUY
This is a conversation for you to have with a
loan officer
A PRIMARY
IF I DON’T HAVE MUCH CASH? HOME
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home buying
Questions about the
process
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WHAT IS THE
AGENCY DISCLOSURE?
all agents must legally provide buyers upon showing them the first property.
It is not a contract
you can sign them with many different agents.
15.
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SHOULD I FOLLOW NATIONAL
REAL ESTATE It may be useful to learn what is
going on nation-wide
Ask your agent for local stats
Boston market ahead of national trends
16. N
EWS?
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DO I NEED
Radon is the second leading cause of lung cancer
It can be mitigated and controlled
It should absolutely not be skipped if you plan to use the basement, live in the basement or have a dirt floor in the basement
17. a RADON
TEST?
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I NEED TO SELL IN ORDER TO
BUY. HOW DO I PULL THIS OFF?
There is no specific formula to this move, it depends highly on your resources, and the markets where you are buying and selling.
18.
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OF A DEAL AFTER
AN OFFER IS SIGNED?
If your constancies are written correctly, and you follow your deadlines accurately, you can usually get out of a real estate transaction without losing escrow money
19. CAN I GET OUT
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Questions
commission
and
about real estate
agents
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HOW COMMISSION
IS GET PAID FOR
BUYER’S AGENTS? A buyer’s agent is almost always
paid via the listing agent’s commission and is already reflected in the price.
20.
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WHAT IS THE DIFFERENCE AMONG
ALL THE BROOKLINE MA REAL ESTATE
OFFICES?
Hiring a real estate professional is really about finding someone you like, trust, and find to be helpful
It is more important to find the right agent with a great reputation, than a well-known agency
Do your research, ask questions, and hire the right agent for you. Reading agent reviews is a great way to find the agents to interview
21.
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FOR MORE INFORMATION ON
BROOKLINE MA REAL ESTATE OR ANY OF THE TOPICS IN THIS PRESENTATION
CONTACT RUTH LERNER
(617) 807 - 0471 [email protected] RuthMalkinLerner.com