Frequently Asked Questions

What do I have to pay for as a buyer?

Typically, the seller covers the commissions for both the seller’s and buyer’s agents. However, if the seller does not offer a commission for the buyer’s agent, you have a couple of options. You can either:

  1. Pay the Commission at Closing: You can arrange to cover the buyer’s agent’s commission yourself when the deal closes.
  2. Negotiate the Fee into the Offer: Alternatively, we can incorporate the agent’s commission into our offer price. This way, the cost is indirectly covered as part of the overall purchase agreement.

Discussing these options early ensures there are no surprises and allows us to tailor our approach to best suit your financial preferences and the specifics of the property transaction.

Buyers are typically responsible for certain costs, including earnest money (typically 1% of the home’s purchase price), the home inspection (usually ranging from $500 to $800 depending on square footage), closing costs, and their down payment. Understanding these financial responsibilities can help you plan and budget effectively throughout the homebuying process.

The closing timeline depends on whether you are making a cash purchase or obtaining a loan. Cash transactions typically allow for a faster closing, often within 2 weeks. However, if you are securing a loan, the process generally takes a minimum of 30 days. It’s essential to be aware that the closing date might be subject to change due to factors such as loan issues or necessary repairs. Flexibility in your schedule is crucial to accommodate potential adjustments.

In some cases, loans may close earlier than anticipated.

At closing. It’s important to note that no work, moving in, remodeling, or cleaning is allowed until after the closing has been completed, primarily for liability reasons.

If there is a need to occupy the house before the official closing, we will establish separate agreements to address any necessary arrangements or rental agreements.

In a home purchase, fixtures, such as cabinets, faucets, and window blinds, are typically included. However, it’s crucial to be aware that certain items you might assume are included may not be. To ensure clarity and avoid misunderstandings, any specific items you want to be included in the purchase must be clearly listed in the offer during the negotiation process. This ensures that both parties have a mutual understanding of what is included with the property.

All information is deemed reliable but not guaranteed and should be independently reviewed and verified.

REALTY EXECUTIVES ASSOCIATES
All information is deemed reliable but not guaranteed and should be independently reviewed and verified.

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