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  • What if the appraisal comes in too low?
    If the offer you accept is an all cash offer it won't affect the sale unless the buyer's ask for a reduced price. Then your agent works for you to negotiate the deal with the buyer's agent. If the buyer's are financing the home, the financial institution can not loan more than what the home is worth and your agent will be able to advise you.
  • What are local market conditions?
    Your real estate agent will provide you with a comprehensive market analysis that will show you what the local market trends are and how they will impact the sale of your home.
  • How much is my house worth?
    Your agent will provide you with a CMA (Comparative Market Analysis) for homes in your area that will demonstrate to you an approximation of your homes’ value.
  • How much does it cost to sell my house?
    Most of the costs come out of escrow at the closing of the sale, not out of pocket. Agents and brokerages typically have an industry standard that is charged as a commission. Remember, you get what you pay for and great agents earn their commissions.
  • When is the best time of year to sell a house?
    You can sell your home at any time of the year, although some seasons are better than others. In most areas, the spring and fall months are the hottest homebuying seasons of the year, while sales slow down in the summer as families are busy with sports and vacations. Winter is the other season sales can be slow due to the holidays.
  • Where does the home inspector come in?
    Once an offer has been accepted, the clock starts running. The home inspection is part of that process and your agent will work with the buyer's agent to schedule the home inspections.
  • What happens if I need to stay in the house longer than closing?
    As your agent, I can help you negotiate a rent-back option if it is needed.
  • Should I make repairs before listing the house?
    Determining what repairs are needed to get the price you expect is another topic your agent can help advise you on. The more "move-in" ready your home is, the more likely it will draw potential buyers.
  • What's the first step of the process?
    Getting pre-approved. This will help you know what price range you can afford. Remember, you can also set a mortgage budget that you are comfortable with as long as your approval is equal to or more than the budget you set.
  • What does a Realtor® do?
    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.
  • What happens in a multiple offer situation?
    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.
  • How much money do I need for a down payment?
    Conventional loans 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.
  • Do the appliances come with the house?
    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.
  • How long does it take to buy a home?
    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.
  • Are there other fees required when financing a home loan?
    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.
  • How much do I have to pay a Realtor® to represent me?
    Nothing. In most cases, the seller pays the commission and the commission is split between the seller's agent and buyer's agent.
  • What kind of credit score do I need to finance a home?
    Generally, loan institutions look for a minimum of 620, but there are programs offered by other agencies that may go lower depending on the circumstances. The lower the credit score the higher the interest rate.

 Robert Treacy Vancouver Realtor 

Content by Team Treacy Vancouver Realtor

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