Answering 4 Common Buyer Questions

Here are the answers to four excellent buyer questions we were asked.

Last week we held our homebuyer seminar, and today I’m addressing four of the great questions we were asked:

1. Do I pay the buyer’s agent for representing me? No, the seller pays the commission for both the listing agent and the buyer’s agent. 

2. Do I have to pay a lender when asking about a pre-approval? No, it’s free to speak to a lender about getting pre-approved. It’s a wonderful idea to ask a lender about pre-approval, even if you aren’t quite ready to buy yet. They can provide useful information about how to organize your finances to get pre-approved for the most money possible when the time comes.

3. How much money do I need to purchase a home? You’ll need your down payment and 1% to 1.5% of the purchase price for closing costs. Closing costs consist of the escrow title fee, any lender fees, any impounds for your mortgage payment, homeowners insurance, and if you’re in an HOA, it will include that first payment.

​Ask a lender about pre-approval, even if you aren’t quite ready to buy yet.

4. Should I contact an agent even if I’m not ready to buy yet? Yes, we help many clients prepare to purchase a home for over a year before they’re ready to truly buy. You can always reach out to us for free, with no commitment, to help you through the process. The process can be complicated, but we’re here to serve you. 
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Please feel free to reach out to us via phone or email with any questions you have. We would love to be your real estate resource.