Buyer FAQs

Having a pre-approval is a safeguard for everyone, including you, your agent, and the seller. Bonus points for a fully-underwritten pre-approval!

A pre-approval saves you from from having your heart broken falling in love with a home you can't purchase. Houses are moving quickly! If you find a property that feels right, but still need to get your pre-approval, you may miss your window of opportunity and have to keep looking. 

Your agent is protected from spending time and gas to show properties that can't be successfully purchased

The seller is saved the time and energy of vacating their living space for a stranger who isn't yet guaranteed able to make the purchase

The lender you choose is entirely up to you! 

As a consumer, you have what is called a "right to shop," and can explore your options with different lenders without worrying about multiple hits to your credit. The credit bureaus understand at the end of the day, you won't be moving forward with 5 different mortgages! When shopping lenders, look for a combination of offerings that best suits your individual needs. Consider things like overall rate, discount points, fees, down payment/closing cost assistance, level of communication, etc. 

For lenders I have worked with and can personally recommend, click here!

Yes! Working with a reputable lender improves your odds of getting an offer accepted. 

There are lenders with great reputations for communication, due diligence, and smooth transactions. There are also lenders known for preapproving people without doing their due diligence...meaning the contract can fail during underwriting. If the seller knows you are working with a great loan officer, they have the peace of mind that your offer is likely to lead to a transaction that actually closes. 

Some additional ways to boost your chances of success:

• A fully underwritten preapproval. If your file has already gone through the underwriting process, you've saved time and can offer a quick closing! The seller will also know your financing is an even safer bet
• A cash guarantee. Some lenders will offer a monetary guarantee to the seller that they've done their homework, and will use their wallet to back their confidence in you as a buyer

For lenders I have worked with and can personally recommend, click here!

Inspections: $300-1,000 depending on company and options

Closing Costs: Check with your lender! But typically, these will be a couple percent of the purchase price. Many lenders also have grant programs to help out. 

Down Payment: This will depend on the loan you qualify for. Check with your lender!

Inspections are a huge deal, and exist to make sure you know what you're getting into. After your offer is accepted, you'll have an agreed-upon deadline (typically 5-10 days) to complete inspections. 

• Select your preferred inspector (here are a few I recommend), 
• Choose the extent of the inspection (add-ons may include sewer line, radon, mold, etc)
• Schedule the date and time
• Pay for their services (expect between $300-1,000 depending on selections)

Your agent will meet the inspector at the property for a process lasting 2-4 hours. You can attend the entire inspection, arrive during the final 30 minutes for a summary, or simply wait for the report and a phone call with the inspector. 

The inspector's job is to nitpick...so don't panic when you receive the inspection report! Even a newly built property will have issues. The inspector will help you identify which items are simple maintenance items vs major concerns. 

The inspection report can help you budget for repair and maintenance once you move in, renegotiate for the seller to make a repair or monetary credit, or even allow you to cancel the contract. Your agent can help you navigate whatever situation arises. 

Decluttering and depersonalizing is massively important. Not only will this prep the house for effective listing photos, but it offers a space easy for potential visitors to envision themselves living in. 

• Pack as many personal items as possible into storage totes stacked tidily and out of the way. Whatever is left should be thoughtfully curated and arranged
• Organize closets, pantries, and storage areas so buyers can see what potential space they'll have available
• Lock up or remove any valuables, prescriptions, adult items, and weapons
• Tidy your landscaping
• Air out the house of any pet odors, but avoid going overboard with air fresheners and candles. Some buyers may be sensitive to fragrances
• A thorough home cleaning goes a long way

No, but repairs prior to listing can help you sell more quickly and for a higher price. 

Completing the project in advance or offering a credit at closing can widen your pool of buyers. Of course, you have the option of considering a lower sale price to account for needed repairs, but most buyers don't have the cash to cover their closing costs AND major repairs. 

Staging is not necessary, but can increase your sale price and closing speed. Even very simple, low effort staging can help a buyer to see themselves living in the home. Some interesting data points to consider:

• Staged vs non-staged homes sell 3-30x faster, and sell for around 5% more
• Buyers are statistically more willing to overlook property faults in a staged home 

Estimates like the ones you find on Zillow and other websites are compiled by algorithms using county tax appraisals (often lower than actual sale prices), list prices, and other public record data. An agent is able to dive deeper into more accurate valuation by looking at the final sale prices, concessions, and quality of comparable properties.