Question: How long does it take to buy a home?
Answer: Once you have found a home and are under contract with the seller to purchase that home, it is about 60-75 days from that point until you close on the home and can move in.
Q: How does it help me to have the assistance of an agent?A: Agents will take you through the entire purchasing process. From helping you to get a pre-approval from your lender to setting up showings. We help you prepare an offer and go over the entire process with you from start to finish. We help you with the negotiations, inspection and appraisal process. We go to the closing and see you through to the end.
Q: What is the first step in the home buying process?A: Talk to your lender (local is often better) and find out how much you qualify for. More importantly, how much you are comfortable spending. Then you know exactly what price point you should be looking at.
Q: How much do I have to pay an agent as a homebuyer?A: You may not have to pay anything – it depends on whether or not you hire a Buyer's Agent. That is something to discuss with your agent when you select one. The agent will tell you who is paying their fee.
Q: What is your best advice for first time home buyers?A: Find an agent you like and stick with that agent. Any agent licensed in the state can show you any property in the state – regardless of which firm the listing is with. You do not need to call each listing agent to set up the showings – let your agent do the hard work for you.
Q: What kind of credit score is needed for a first time home buyer?A: Depends on the loan
Q: How much money do I need for a down paymentA: Depends on the loan product you apply for. Some are as little as 3% of the purchase price and others are up to 20% or 25%
Q: What other fees are there, besides the down paymentA: Depends on the loan, but you will have an inspection fee if you opt to have an inspection as well as an appraisal fee
Q: Can I move into a home before closing?A: 99% of the time you cannot move in prior to the closing. There are some exceptions, but most often you move in once the closing has occurred.
Q: When do I get the keys?A: At the end of the closing.
Read more about Nikki Barrett here.