Real Estate Frequently Asked Questions
What is the first step in buying a home?
Call Clear Path Real Estate Group to schedule a free consultation. Most online resources will tell you that a pre-approval with a lender is the first step. I’m afraid that’s not right. Why? Because our agents will guide you through the entire buying process from start to keys. Most people don’t know a loan officer or who offers the loans they need. At Clear Path Real Estate Group, we will ask you a series of questions and make recommendations based on what you need. There are tons of loans and programs, and it can get overwhelming. The second step is to get a pre-approval.
How much does it cost me to hire a Realtor to buy a house?
In most cases, a Realtor® to help you buy a house will not cost you anything, This is because the seller pays the listing broker a fee to list the house, and that broker pays the buyer’s agent. New home Builders pay your Realtor® their commission fee. Builders have included the cost of your Realtor’s commission in their cost of the home.
What kind of credit score do I need to buy a house?
Most lenders will require a 620 credit score and above. There are some exceptions, and some loan programs will allow a credit score of 580. The higher your credit, the better terms and the interest rate you will get.
What do I look for in homes?
Structure, plumbing, roof, foundation, etc. are the essential items to consider. However, this is for your inspector to inspect once you find a home you like. Start by making a list of needs, wants, and do not want. Share this information with your Realtor® and they will help you find the home that best suits your family.
Should I get a home inspection?
Absolutely! A licensed third-party inspector will thoroughly inspect the home inside and out. They are like mechanics, and their job is to find everything that could be wrong with the home from not up to code items to deficiencies. The outcomes may be the peace of mind, negotiation tool, forecast future costs, or deal-breakers. Not getting a home inspection can cost you thousands later. And YES, even with new/newly construction homes.
Do I need a Realtor® to sell my house?
A Realtor® will first and foremost advise and educate. He/she will help with pricing your home, list, market, negotiate, take all the calls and questions, and assist with the contracts. There is a lot more to selling a house than putting a sign on the lawn.
90% of sellers eventually list with an agent. Save yourself the time and headache.
Do I need professional photos for my listing?
Yes! You only have 2-3 seconds to grab the attention of your potential buyers who are looking at hundreds of houses. Professional photos bring buyers. At Clear Path REG, we take care of that for you.
Should I list my house before buying a new one?
It depends on your situation. Most people need equity in their current home for a down payment on their new home. Or most people cannot afford two mortgages according to the lenders’ debt-to-income ratios. If either of these scenarios applies to you, then it may be a requirement that you list your house first. If you do not need the equity or can afford two mortgages simultaneously, you may be able to buy before you sell. Talk with your agent to see what is best for you.
What repairs should I make before I list my house?
There are a few items that you want to make sure you are in perfect or near-perfect working order when selling your home if you want top dollar. These include appliances such as HVAC, water heater, and stove/oven. You also want to evaluate your roof, foundation, and plumbing. These are the most common items that may cause a buyer to choose another home over yours. Some items may even come back as lender-required items that need to be repaired or replaced to close. A Realtor® will assist in assessing your home to help you decide which repairs are necessary and which upgrades may bring you the highest return on your investment.
Can I ask you for advice?
Absolutely! Please call, email, or text your questions. We are here to service you.