BuyerGuide

FAQ's
Frequently
AskedQuestions
Do I Need a Real Estate Agent?
Real estate agents can help you narrow your
housing options. The U.S. Department of
Housing and Urban Development
recommends the use of a real estate agent.
Make sure the agent works for you so the
agent will be working for your interests. Your
agent can take your criteria for a home,
including cost, neighborhood, schools, home
size and amenities, and match it with the
Multiple Listing Service (MLS), which lists all
of the homes for sale in a particular area. If
you’re purchasing government housing,
such as a HUD home, you must have an
agent.
What Are the Up-Front Costs?
You are responsible for two upfront costs
when you buy a home. First there is earnest
money, which is a small deposit that lets the
seller know you’re serious about buying the
home. Earnest money can be anywhere from
$500 to $2,000. The second is the down
payment, which is a percentage of the cost of
the home. Lenders have different
requirements for down payments. Traditional
lenders usually seek a down payment of at
least 10 percent. Lenders backed by the
government can seek less, if you qualify. FHA
has a program where you are only required to
make a 3 percent down payment.
What Happens at Closing?
Closing is when you sign all of the loan and
ownership paperwork and take over the
home. At closing you will be responsible for
taking care of some costs, including title
insurance and points to lower the interest rate
on your mortgage, along with fees for loan
origination, loan applications, appraisals,
housing surveys and even your first month of
homeowner’s insurance. These costs can be
up to 8 percent of your purchase price.
How will you tell me about the
newest homes available?
The Multiple Listing Service Website provides
up-to-date information for every home on the
market. I constantly check the New on Market list
so I can be on the lookout for my clients. I will get
you this information right away, the way that is
most convenient for you; by phone and/or email.
Will you inform me of homes
from all real estate
companies or only Keller
Williams Realty?
I will keep you informed of all homes. I want to
help you find your dream home, which means I
need to stay on top of every home that’s
available on the market.
Can you help me find new
construction homes?
Yes, I can work with most builders and get you
the information you need to make a decision.
On your first visit with the builder, I will
accompany you. By using my services with a
new construction home purchase, you will
receive the services I offer, as well as those
provided by the builder, at no additional cost.
How does for sale by owner
(FSBO) work?
Homeowners trying to sell their home without
agent representation are usually doing so in
the hopes of saving the commission. If you see
a FSBO and want the advantages of my
services, let me contact the owner for you and
make an appointment. Most times the
homeowner will work with an agent, even
though their home is not listed, since the
agent is introducing a potential buyer to their
property.
Can we go back through our
property again once an offer is
made, but before possession?
Usually, I can notify the seller and schedule a
convenient time to visit the property again.
Immediately before the closing, I will schedule
a final walkthrough and inspection of your
new home.