Frequently Asked Questions
- Please start your home search by getting pre-approved. This allows you and your agent to frame your search by what you can afford and to stay in budget. First step is to find a local lender. Your agent can provide options for lenders to talk to who they have worked with before and know how well they take care of clients. Once connected, gather your documentation (ID, income verification, bank statements, tax returns, etc). Complete your mortgage application and submit. Lender will review and ask questions if needed. They will pull "soft" credit report for a pre-approval. Once they complete the review, they will provide a letter for an amount you are approved for.
What are the best platforms to find real estate listings?
- If you are not using ME for your home search, there are online sites to use. Keep in mind that an agent will be providing the most current data from the MLS and this includes "coming soon" properties that are not marketed to other sites. Also, be aware that other sites must wait to be refreshed from the MLS so they may not have the most up to date information as far as price changes and listing status. My recommendations would be to first use an agent, second use a local brokerage site (such as Realty One Group), and then to look at other site like REALTOR.com or HOMES.com, etc.
How to find a reputable real estate agent for first-time homebuyers?
- It is easy, you already found ME! Most people will either get word-of-mouth recommendations from friends or family, or they will look online. Occassionally they may get a mailing or see an ad somewhere, or meet one at an open house. I like the opportunity to meet one at an open house, there you get to talk to them in person and see a little bit of their marketing and work. Regardless of where you meet them or get the name from, I would also suggest looking up their reviews online to see how others feel about them. I would then set up a time to call or meet 2 or 3 of them to talk to them and see if one feels like a better fit for you and your personalities.
How much does it cost to use a REALTOR?
- A common question without a straight answer. Agents, not unlike attorneys, or mechanics, they have their own pricing. The good thing about it is you have the opportunity to accept what they are asking for, say no to it and move on, or to negotiate for something you feel better paying. There is no "standard charge" that they all use. It used to be that the Seller of the home usually paid for the agent's fees on both sides and that has changed recently where the Seller and Buyer both agree to paying their agents. This however, can also be negotiated later during the purchase.