Asset 2GWBR

FAQs

Frequently asked questions and answers for Buyers and Sellers

FAQs for Sellers

While spring and summer tend to attract more buyers, the best time to sell depends on your specific needs and motivation. We’ll review the current market conditions and choose a time that best fits with your timing. The most important items on selling a home is prepping the home to look fantastic, pricing the home to attract buyers, and making sure the home is open for lots of viewings.

Determining your home's value requires a combination of data and expertise. While online tools can give you a rough estimate, a real estate agent’s in-depth market knowledge and an in-person evaluation provide a more accurate assessment. I’ll analyze comparable sales, market trends, and your home’s unique features to give you a clear picture of its current value.

Pricing your home correctly from the start is essential. I’ll provide a comprehensive market analysis, looking at comparable homes and current market trends, to determine the optimal price for your property. In addition, sometimes market changes happen and before we go live on MLS we will determine the final asking price.

The first step is to choose a real estate agent you trust to guide you through the process. Together, we’ll set a competitive asking price based on market conditions and your home’s value. I’ll then create a customized marketing plan, help you prepare your home for sale, and handle all the paperwork and negotiations to ensure a smooth transaction. Take a look at my website for more information at www.garrettburdick.realtor and check out the Case Studies section to see some Before an Afters.

First impressions matter! I’ll offer personalized suggestions to improve your home’s appeal, such as decluttering, staging, and minor repairs. I also have many years of experience in larger repairs and renovations. Please take a look at my website for more information at www.garrettburdick.realtor and check out the Case Studies section to see some Before an Afters. These updates can help you attract more buyers and potentially better offers.

Traditionally, the seller would negotiate and pay a commission that covered both the listing agent and the buyer's agent. However, new regulations are changing how buyer’s agents are compensated. In today’s market, buyers will now sign a Buyer Broker Compensation Agreement, which outlines how their agent will be paid for their services. This agreement ensures transparency and helps clarify the terms of compensation between the buyer and their agent. While the seller may still offer to pay part or all of the buyer’s agent’s fee, the agreement allows for flexibility depending on the specific transaction. Buyer’s Brokerage Compensation is not binding unless confirmed by separate agreement among applicable parties.

This varies based on market conditions, location, and how your home is priced. On average, homes take around 30-60 days to sell, but I’ll work diligently to market your property and secure the best offer in the shortest time possible.

In addition to paying off any remaining mortgage, typical costs include agent commission(s), closing costs, prepping the house for sale which can include repairs and updating, staging fees, and inspections (Home, Pest, Roof, etc) for the disclosure packet. I’ll provide a detailed estimate, so you’re prepared for these expenses.

Yes, but it requires planning. You might consider a rent-back agreement, where you stay in the home temporarily after closing, or making your offer contingent on finding a new home. In addition, there is a Bridge Loan option that you buy your new home first, then sell your current home and only move once. I’ll help you navigate these options and the pros and cons of each one. My goal is to make your transition seamless.

An appraisal is conducted by a licensed professional to determine the fair market value of the property you’re buying. It’s based on a thorough inspection of the home and comparisons to recent sales of similar homes in the area. Most lenders require an appraisal to ensure the home is worth the amount they’re financing.

Yes, it’s possible! With the right planning, you can sell your current home and purchase a new one simultaneously. I’ll help you navigate this process, whether that means timing the sales and purchases carefully, using a contingency offer, or exploring financing options like bridge loans to make the transition as smooth as possible. I have professional local contacts to talk and explore the Bridge Loan option.

In general, anything that is permanently attached to the home, such as built-in appliances, light fixtures, and window treatments, should remain. Personal items like furniture or décor can be taken with you. We can discuss any exceptions or items you wish to exclude from the sale during negotiations.

Several factors influence the time it takes to sell a home, including the current market, season, and how well the home is priced and marketed. On average, homes may take anywhere from a few weeks to a few months to sell. I’ll work with you to develop the best strategy to sell your home as quickly as possible while maximizing its value.

Disclosure refers to the legal requirement for sellers to inform buyers of any known issues with the home that could affect its value or safety. This includes things like structural problems, water damage, or past repairs. Providing full and honest disclosure helps avoid potential disputes later on. Some of the inspection reports that are ordered before putting the house on the market are, Home Inspection, Pest Inspection, Roof Inspection, Sewer Lateral inspection, Pool Inspection, and Natural Hazard Disclosure Statement. 

Selling a home "as-is" means the property is being sold in its current condition, and the seller is not making any repairs or improvements before the sale. Buyers agree to purchase the home with the understanding that they are responsible for any necessary repairs or updates. However, sellers are still required to disclose any and all known issues with the home so the buyer can make an informed decision.

In my market area the seller typically pays for most inspections and reports before the house goes for sale. These reports and inspections will be added to the Disclosure Packet for the buyer to read and help identify any potential issues with the home before finalizing the purchase. In some areas of the United States the buyer is responsible for paying for the home inspection and is part of their due diligence after making an offer and before closing on the property.

While staging isn’t mandatory, it can significantly boost your home’s appeal. Staging helps potential buyers visualize themselves living in the space and get emotionally attached. Simple changes like decluttering, rearranging furniture, or adding décor can make a big difference. Whether you choose to stage yourself or hire a professional, I can help you decide the best approach to showcase your home.

FAQs for Buyers

Getting pre-approved is an important first step in the buying process. It involves providing a lender with your financial information, such as income, credit history, and debt. The lender will assess your ability to borrow and give you a pre-approval letter indicating the loan amount you qualify for. I have those contacts to help you navigate the loan approval process. Please let me know how I can help.

In addition to evaluating the layout and size, pay close attention to the home's condition, any signs of wear and tear, and major systems like plumbing, electrical, and heating. Consider the neighborhood and nearby amenities as well, as location is a crucial factor in your decision. It your visit to the home intrigues you then we would ask for the Disclosure Packet and read the inspection reports, homeowner disclosures for more clarity. This is a very important process and with my knowledge of fixing homes I can help answer your questions or concerns. 

This depends on market conditions, comparable sales in the area, and how much you’re willing to compete. Price is only one of the several terms on an offer. Some of them are: Are you a Cash Buyer? Are you Pre-Qualified with a known Lender? Will you buy with or without Contingencies?, Closing Timeline? Are you offering, Under/At/Over asking? Are you paying for the Buyer Broker Compensation or are you asking the Seller to Pay? I’ll help you evaluate these question above, the fair market value and craft a competitive offer, while keeping your budget and goals in mind.

Again, please keep in mind the new rules about the possibility of negotiating the Buyer Broker Compensation Agreement in the offer. The question that the Buyer’s Agent needs to answer (if possible) is if the seller is willing to consider paying for some or all of the Buyer’s Agent Compensation.

Once your offer is accepted, the home enters into escrow with your chosen Title Company. The buyer pays the Initial Deposit Amount within 1 to 3 business days. Then if any contingencies have been negotiated, for example, more inspections, appraisals, and final lender financing steps, this is the time for working those out.  I’ll guide you through this entire process to ensure everything runs smoothly. 

Typically, the closing process takes 20-30 days, but this can vary based on financing and any contingencies. Some cash offers without contingencies can close very quickly. I’ll keep you updated on the timeline and ensure all documents are signed and submitted on time with the work of my transaction coordinator.

Yes, a home inspection is crucial to uncover any potential issues with the property. It can save you from costly repairs down the road and give you peace of mind before finalizing your purchase. In my market the seller typically pays for a Home Inspection, and a Pest Inspection. There are other inspections that are sometimes needed including Roof, Chimney, Pool, Drainage, etc. The sellers add those reports to several others to a Disclosure Packet. When a buyer is interested in a home it is very important to read all the Disclosures to understand the condition and history of the house and property.

Consumer Guide to Open House and Written Agreements

As of August 17, 2024 

Many real estate professionals nationwide will be asking buyers to enter into a written agreement prior to touring a home. But what if you are just attending an open house? Here is what you should know:

No. If you are simply visiting an open house on your own or asking reaI estate professional about their services, you do no need to sign a written buyer agreement.

No. In this case, since the agent is only there at the direction of the listing broker or seller, the agent is not required to have a written agreement with the buyers touring the home.

After you begin "working with" an agent and any point before you tour your first house together.

A buyer is "working with” an agent as soon as the agent begins to provide services, such as identifying potential properties and arranging tours. Agents who are simply marketing their services or speaking to a buyer at an open house or by providing a buyer access to a house they have listed are not considered to be working with the buyer.

Under the terms of the settlement, “tour" is when a buyer who is working with an agent enters a home that is for sale or directs their agent to enter the home on their behalf. This includes when the buyer's agent provides a live, virtual tour to a buyer not physically present.

Clarity and Transparency. Written buyer agreements lay out the services your real estate professional will provide and what they will be paid. Buyers should not sign anything that includes terms they do not agree with or do not understand. You are in the driver’s seat with these agreements, which are fully negotiable. For more information, FAQ on NAR’s website: https://www.nar.realtor/the-facts/nar-settlement-faqs

Why should I use a Buyer’s Agent?

Finding your dream home in today’s market needs to go beyond casual searches, checking out a few open houses and hoping for the best. A Buyer’s Agent like myself is a real estate professional who is focused on your wants and requirements. I bring a wealth of experience and resources that can be game-changing during your house hunt. Here’s a closer look at some of the benefits I offer.

One key benefit of having a buyer's agent is immediate access to new listings as soon as they're available. Being among the first to see a property in a competitive market can be crucial. I can leverage industry intel and skills to ensure you're always ahead of the game.

A buyer's agent is your go-to source for the inside scoop on everything from community info to the finer details like HOA costs and zoning considerations. I can give you a crash course on the ideal spots to suit your lifestyle, whether that's the most family-friendly neighborhoods, the towns with hip eateries and shops nearby, or areas with the easiest commute options. I also often have access to deeper insights that might not be common knowledge, like upcoming issues that could affect your property's value.

Want to show sellers you really mean business? Get pre-qualified for a mortgage. I have connections with trusted lenders to streamline this process. Pre-qualification shows sellers you're serious and gives you a clear picture of what you can afford. That way, you're looking at homes within your budget from the start.

Keeping up with real estate trends, like when prices drop or a house is about to go off the market, is crucial for your home-buying strategy. I will keep an eye on all these things, making sure you're always in the loop.

In a tight buying environment, how you present your offer matters. I know how to craft offers that grab attention, combining the right terms and conditions to catch the seller's eye while still looking out for your best interests.

The journey doesn't end with finding the perfect home. I can also connect you with all the essential service providers needed, from home inspectors to insurance agencies and moving companies. Each step of the way, I can help make sure you have reliable professionals to handle every aspect of your home purchase.

As a buyer's agent affiliated with the Coldwell Banker® brand, I bring all this and more to your real estate experience, transforming the process into a guided journey toward your dream home. With my assistance, backed by the only residential real estate brand with a 118-year legacy of excellence, even the trickiest markets can offer promising opportunities for buyers ready to make a move.

What services do you provide as a Real Estate Agent?

As a full-service Independent Sales Associates with Coldwell Banker Realty, we will handle the complexities of your transaction, so you have peace of mind throughout the process. Here is a look at some of the duties we may perform on your behalf… 

•  Research and determine market value  

•   Prepare for signature all documentation and home warranty  

•  Home preparation consultation including list of trade professionals who can help prepare your home for sale  

•  Arrange and attend inspections (representing seller’s interests)  

•  Develop disclosure packages 

•   Order sign (“Coming Soon” rider optional)  

•   Order comprehensive Listing Concierge package which includes among other things: 

- Professional photography, video, drone and 3d tour

- Beautiful Tri-Fold Mailer in slick silver envelope to neighborhood announcing your home on market

- Professionally designed “Just Listed” postcard mailed to - neighbors and a radius around the property

- Area Realtor notification to all top real estate companies/agents that your home has come on market

- Professionally designed property website viewable on all devices

- Mobile sign rider to capture buyer info when in buyers are in front of property

- Social Media advertising on social media which captures thousands of views/buyer information

•   Put lock box on your home  

•   Enter property listing on Multiple Listing Service (MLS)  

•   Promote to Agent network; announce at office and regional meetings

•   Monthly Coldwell Banker Buy/Sell Meeting slide show to promote your home to CB Realtors

•   Call past client referrals  

•   Canvass the neighborhood to invite people to open house and alert buyers  

•   Host Broker and Public Open House if COVID Health Restrictions allow 

•   Schedule showings and show property to potential buyers following COVID Health Guidelines

•   Provide feedback from showings  

•   Continuous monitoring of marketing results  

•   Communicate and consult with seller on a regular basis  

•   Respond quickly to all buyer inquiries  

•   Facilitate the flow of information between buyers and sellers  

•   Arrange showings when necessary

•   Schedule offer presentation with seller  

•   Present offer(s)  

•   Explain ramifications relating to terms  

•   Negotiate terms on behalf of seller  

•   Complete necessary paperwork  

•   Organize and tender copies of offer, counter offer and addendums to appropriate parties for ratification

•   Deliver completed contract to both parties involved in the contract  

•   Identify and disclose details concerning property to buyers  

•   Deliver completed contract to lender  

•   Deliver contracts to title company  

•   Coordinate and attend all inspections  

•   Negotiate post inspection findings

•   Resolve problems and challenges relating to property condition  

•   Coordinate appraisal appointment  

•   Negotiate any negative impact relating to appraisal  

•   Arrange home warranty  

•   Complete necessary paperwork  

•   Negotiate actual occupancy  

•   Coordinate actual close date  

•   Coordinate and attend the closing  

•   Work with seller on organizing utility shut-off  

•   Work with seller on organizing moving and storage  

•   Arrange and attend buyer’s final walk through  

•   Resolve any problems or challenges  

•   Deliver keys to new owners

•   Provide close of escrow package with all supporting home sale documents  

•   Work with seller to ensure the transition to new residence is smooth  

•   Provide a list of trade professionals who can help with repairs or upgrades to your new home  

•   Serve as a resource to your friends and family