Faq

Frequently Asked Questions

How does bidding?

This depends on the new construction builder you are working with. Generally, a bid amount can be figured out by considering your total budget, and then taking into consideration other factors, such as design selections, and other additional costs.

To make your offer stand out, make sure the offer price is over the list price. Also, put more option money on the line, this increases a sellers confidence in the offer which in turn increase your offer getting accepted.

You should always do a regular home inspection at the bare minimum, but depending on the condition of the home and other factors, such as age, roof conditions, foundation, and items mentioned in Sellers Disclosure Notice can provide additional clues to the additional types of inspections you can do on a home.

Well, it depends on a couple of factors, such as your down payment, closing costs, appraisal risk, and other miscellaneous costs. Adding up those four factors equals the estimated total cash on hand to buy a home.

No, the seller most often pays your agent their commission. Meaning, your agent is supporting your home purchase for FREE!

Contact your Real Estate Professional. You don’t have one? Well, reach out to Nithin Thomas, and we will be more than happy to take care of you

Of course! A REALTORS’ main job is to ensure they take care of all real estate-related business. Meaning, a REALTOR can share professional value when it comes to Design Center Appointments, do regular homesite visits while the home is being built, have regular follow-ups with sales consultants, and manage the contracts, closing process, and more!

Well, there are unlimited benefits, but most importantly a REALTOR is your ‘personal’ professional consultant. REALTOR who knows the ins and outs of their market is valuable because they can help you with submitting winning offers is present at all critical meetings, and always has your best interest at heart.

Yes! This is one of the most important steps when it comes to purchasing a home. A pre-approval letter is your ticket to enter the market and purchase a home that is within your budget. Home sellers very rarely accept buyers’ offers if the buyer has not been pre-approved.

  • First: You will need to choose a Real Estate Pro, as a REALTOR. The REALTOR is on your team. His or her main job is to ensure your buying needs are met, and most importantly you find the right home, for the right price.  
  • Second: You need to speak with at least three lenders of your choice and get pre-approved with all of them. Pro Tip: Having multiple pre-approval letters generally allows you to negotiate for better terms on your loan.
  • Third: You are now ready to start your home hunting journey. Have your Real Estate Agent add you to an auto-email for MLS Listings. Then visit all the new construction builders’ websites and get yourself added to their interest list, make sure your Real Estate Agent does the same. Pro Tip: Teamwork makes the dream work!
  • Fourth: Once you found the right home, ask your Real Estate Agent to send you a Comparable Market Analysis or CMA of the home. Then have your Real Estate Agent explain the CMA report to you. Make sure to ask your Real Estate Agent about the offer amount, appraisal risk, option period, earnest money, and offer submission process. Pro Tip: Real Estate Agents’ explanations should be clear, backed up with data, and honest.
  • Fifth: Congrats your offer has been accepted! Now, have an inspector of your choice inspect the home. Make sure to review and address all the questions and repairs items in the report with the inspector. Afterward, plan with your Real Estate Agent to figure out the negotiation items. Pro Tip: home inspection and negotiation of repairs should be completed within the option period.
  • Sixth: You have now reached a week or two away from closing on your home! Make sure you have the required cash to close on the home in your bank. Plan with your Real Estate Agent to schedule your final walkthrough. Then on the day of the closing bring government-issued identifications and your cashier’s check. Pro Tip: Your Real Estate Agent’s core duty is to make sure all the steps from 1 to 6 are all taken care of, so you can have a smooth home closing.
  • Seventh: Enjoy your new home!
Should I have professional photos done of my home?

Of course, first impressions matter and that’s why having professional photographs can increase the number of buyers that see your home.

The commission percentage tends to be between 5% to 6%. It is split between the listing agent and buyers’ agents.

It’s the norm for a seller to pay both the listing agents and buyers agents’ commission. This helps to ensure both real estate professionals are adequately compensated.

This is an easy answer, go for the offer that puts the most money in your pocket, or in real estate terms gives you the highest net return.

Your listing agent has a fiduciary duty to present all facts, and matters of real estate to you, while ensuring he/she holds your best interest at heart, always. This means the listing agent will work closely with the buyers’ agent to allow reasonable opportunities for the buyers to view your home, answer any home-related questions and concerns, as well as coordinate with the buyers’ agent on home inspections, and provide administrative support to successfully close on your home.

Of course, if you want to have a multiple offer situation. Generally, open houses lead to credible buyers submitting strong offers, which means the buyers you accept are vetted and have a strong chance of successfully close on your home.

Yes! The MLS is the modern way of advertising your home to the entire country! MLS is the most powerful tool a homeowner has, and it’s provided to them by the Listing Agent.

  • First, you will need to hire a Listing Agent. Not all Listing Agents are alike. Make sure you hire the Listing Agent that can bring you the most value both financially and transactionally.
  • Third, once you have agreed to the list price, work with your listing agent to gather all the necessary documentation. Then list your home for sale in the MLS.
  • Fourth, make sure your Listing Agent host an open house. This is to ensure prospective buyers have a chance to see the home and interested buyers will submit quality offers. Pro Tip: The weekends bring the biggest buyer foot traffic, leading to a multiple offer situation.  

More than you think! The reason Real Estate Agents exist is for your benefit. A Listing Agent is a professional whose main job is to ensure you, the homeowner, gets the largest net return on the sale of your home. On top of that, they make your home ready to be sold. There are a lot of boxes that need to be checked before listing a home for sale, and the listing agent can be your asset when it comes to checking those boxes correctly and getting you to the closing table, without major problems.

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