Dawn Van Meter - Keller Williams Realty Smart 1

It’s not required, but it’s a good idea! Final walk-throughs give buyers a chance to make sure nothing had changed since their first visit. If repairs were requested, as part of the offer, a follow-up visit ensures that everything is squared-away, as expected, per the terms of the contract.

Home inspections are not required if you plan on financing your home. However, home inspections are highly recommended because they can reveal defects in the home that are not easily detected. Home inspections bring peace of mind to one of the biggest investments of a lifetime.

Sellers can flat-out accept or reject an initial offer. But there a third path that is quite common, sellers can initiate a counteroffer. Remember this: a deal isn’t dead until it’s dead. So, if a counteroffer is made by the seller, you’re still in the game. You and your agent just need to review it to determine whether the counteroffer is acceptable. If so, then approving it closes the deal immediately. Keep in mind, offers and counteroffers can go back-and- forth many times; this is not unusual and negotiations are a part of what realtors do as a matter of routine. Each revision should bring both parties closer together on the terms of the deal.

Written offers should stipulate the timeframe in which the seller should respond. Giving them twenty-four to forty-eight hours should be sufficient.

When you make an offer on a home, you may either write a check to accompany it (checks are the same as cash, and the deposit is typically .5% to 2% of the purchase price) or you may wire the funds within a specified time agreed to on the contract. Earnest money is made in good faith to demonstrate - to the seller - that the buyer’s offer is genuine. Earnest money essentially takes the home off the market to anyone else and reserves it for you. The check (or sometimes cash) is deposited in a trust or escrow account for safekeeping. If a deal is struck, the earnest money is applied to the down payment and closing costs. If the deal falls through, the money is returned to the buyer in most cases. Important: if the terms of a deal are agreed upon by both parties, but then the buyer backs out, the earnest money may not be returned to the buyer. Ask your agent about the ways to protect your earnest money deposit and the ways to protect it – such as offer contingencies.

No, any licensed realtor can show you that house. It is actually better to have a realtor that represents you as a buyer’s agent.

As a real estate professional I cannot steer people towards or away from an area, yet we can be the source to the source. We can guide you towards information that could assist you in your own decision.

That’s up to you! For sure, home shopping today is easier today than ever before. The ability to search for homes online and see pictures, even before setting a foot outside the comfort of your living room, has completely changed the home buying game. Convenience is at an all-time high. But, nothing beats visiting a home to see how it looks and ‘feels’ in person.

If the built-up equity in your current home will be applied to the down payment on the new home, naturally the former will need to be sold first. At Jenkins Realtors, we help you to navigate that process so you aren't without a home while you are waiting to move to another home. We can write an offer subject to your current home selling and close both homes on the same day. This takes a seasoned professional to coordinate all the parties involved and make sure you are protected during the process. Some home buyers decide to turn their current home into an investment property, renting it out. In that case, the current home will not need to be sold. However, your loan advisor will still need to evaluate your risk profile and credit history to determine whether making a loan on a new home is feasible while retaining title to the old home.

I hear this question more than any other. And the answer is, “it depends”. There are 3 types of costs involved in buying a home:  down payment  closing cost  inspections/appraisal Down payment: The down payment varies from 3% to 20% depending on the type of loan you are getting.

Industry standard in the market today is a minimum of a 620 FICA score. Your lender of choice should advise you of your score and how you might improve that.

We are not a mortgage lender but we do have relationships with some of the best in the business. Just ask and we’ll connect you to one of them.

Most loan programs require a FICO score of 640 or better. Borrowers with higher credit scores represent less risk to the lender, often resulting in a lower the down payment requirement and better interest rate. Conversely, home shoppers with lower credit scores may need to bring more money to the table (or accept a higher interest rate) to offset the lender’s risk. It is a good idea to know your credit score and have a lender work with you to make suggestions of things you can do to improve your score prior to buying a home so you get the best rate.

For most home sales, there are two real estate agents involved in the deal: one that represents the seller and another who represents the buyer. Listing brokers represent sellers and charge a fee to represent them and market the property. Marketing may include advertising expenses such as radio spots, print ads, television and internet ads. The property will also be placed in the local multiple listing service (MLS), where other agents in the area (and nationally) will be able to search and find the home for sale. Agents who represent buyers (a.k.a. buyer’s agent) are compensated by the listing broker for bringing home buyers to the table. When the home is sold, the listing broker splits the listing fee with the buyer’s agent. Thus, buyers don’t pay their agents, though they may incur a small brokerage fee.

From start (searching online) to finish (closing escrow), buying a home takes about 10 to 12 weeks. Once a home is selected and the offer is accepted, the average time to complete the escrow period on a home is 30 to 60 days (under normal market conditions). Well- prepared home buyers can purchase properties faster than that if they have all of their information in ahead of time or in a timely manner. Market conditions are a major factor in how fast homes are sold. In hot markets with a lot of sales activity, buying a home may take a little longer than normal. That’s because several parties involved in the transaction get behind when business suddenly picks up.

Getting pre-approved for a mortgage is the first step of the home buying process. Getting a pre-approval letter from a lender get the ball rolling in the right direction.

No one has a more important role in the home selling process than you. Here are some ways your participation can contribute to a successful sale:  Maintain the property  Ensure the property is easily accessible for showings  Communicate – let your agent know how to contact you  Remove or lock up valuables  Secure pets  Limit conversation with buyers/agents about price

You want your home to sell for the highest price possible, but also in a timely fashion. Here are some factors that influence the price of your home.  Current real estate market conditions  The expertise and market knowledge of your real estate representative  Hard facts such as lot size, square footage and condition of your home  Desirability factors, including location, special amenities and property attributes  Selling and listing price of comparable homes in the area  Your level of motivation  The profit you wish to make from the sale  The amount of money spent on improvements  The original price you paid for your home

You will work with your listing agent to develop a marketing plan and attract as many potential buyers as possible. Methods include: Yard Sign, Internet, Multiple Listing Service (MLS), as well as, Open House.

- How long have you been in the business? - Is this your full-time job? - How many homes have you sold in the last year? - Do you have any references? - Do you have a list of recommended service providers? - Do you know the market trends for my area/neighborhood? - What marketing do you provide?  - Do you use professional real estate photography and videography? - Will you be staging my home? - Do you offer a home warranty? - Are you on a team? Do you have coverage if you are unavailable for more than 4 hrs? - What do you do differently than other Realtors?

When selecting an agent, the best source may be your family and friends. Many may have sold a property in the past and can refer you to an agent they found to be capable. Selling a home is a complex transaction, so experience should be a consideration. Visit with more than one agent. You should feel like that person cares and wants to help you make the best decision for you.

A buyer’s market is characterized by declining home prices and reduced demand. Several factors may affect long-term and short-term buyer demand, like: Economic disruption - a big employer shuts down operations, laying off their workforce.  Interest rates trending higher – the amount of money the people can borrow to buy a home is reduced because the cost of money is higher, thus reducing the total number of potential buyers in the market. Home prices drop to meet the level of demand and buyers find better deals.  Short-term drop in interest rates – can give borrowers a temporary edge with more purchasing power before home prices can react to the recent interest rate changes.  High inventory – a new subdivision and can create downward pressure on prices of older homes nearby, particularly if they lack highly desirable features (modern appliances, etc.)  Natural disasters - a recent earthquake or flooding can tank property values in the neighborhood where those disruptions occurred.

In sellers’ markets, increasing demand for homes drives up prices. Here are some of the drivers of demand:  Economic factors – the local labor market heats up, bringing an inflow of new residents and pushing up home prices before more inventory can be built.  Interest rates trending downward – improves home affordability, creating more buyer interest, particularly for first time home buyers who can afford bigger homes as the cost of money goes lower.  A short-term spike in interest rates - may compel “on the fence” buyers to make a purchase if they believe the upward trend will continue. Buyers want to make a move before their purchasing power (the amount they can borrow) gets eroded.  Low inventory - fewer homes on the market because of a lack of new construction. Prices for existing homes may go up because there are fewer units available.