FAQ

You Have Questions, We’ve Got Answers.

1. Do I need to do pre-listing inspection before I sell my home?
  • Answer is no, however there are some benefits to doing this inspection
    • You’ll have the chance to discover and take care of major problems before listing, which could increase the value of your home.
    • You’ll get to choose your own inspector instead of relying on the buyer’s choice.
    • You may be able to set a higher list price if your home is in great shape.
    • You can encourage the buyer to waive the inspection contingency, meaning there will be fewer chances for your deal to fall through.
2. How many agents do I need to interview to find good representation to sell my home?
  • Roman Balandin Realty recommends interviewing at least three to adequately compare agents but ultimately, it’s totally up to you and how much work you want to put in.
3. Pros and Cons of selling for sale by owner:
  • Pros
    • You don’t have to pay realtor fees on the sale of your house.
  • Cons
    • Limited Exposure. The first risk you run is that you just won’t get the kind of exposure you need to sell the home.
    • Lack of right guidance through entire transaction EX: home inspection, appraisal, certificate of occupancy process.
    • Lack of negotiation experience. Realtors do this for a living, and they negotiate day in and day out. Negotiating price, negotiating submitting an offer, negotiating inspection, issues requests, negotiating with the bank appraisal, rebuttal etc.
    • Wrong Pricing- you may not have enough knowledge on how to price your home properly in the marketing place (pricing too high or too low)
    • Legal Risk- you may get yourself into some legal trouble if you do not do things by the book (and how would you know if you’re not a licensed agent?)
    • Time Sink- it’s going to take you a lot of time and energy researching and working on each phase of the sale process whereas a realtor act on things quickly
    • Bad Vendors- you may end up working with someone that ends up costing you more money or more headache in the end. Realtors have relationships with vendors based on years of quality service and good experiences.
    • No Sale – you may not end up selling your home due to mistakes due to inexperience.
4. How many days should I be on the market before reducing my home price?
  • If you decide to reduce the price of your home, you should do it ideally within two weeks of initially listing it for sale.
5. How many homes should I see before making an offer?
  • That’s up to you! If you visit a home and fall in love with it, there’s nothing that says you need to see another. The key is to put an offer when you feel it’s right. Remember grass is not greener on the other side and if you think the longer you take to find your perfect home and next time out or next month you will see a better home what in reality happens is quite an opposite. I see more people regret not putting an offer on the homes that they have seen in the past and those people end up settling on homes that are not ideal when comparing to the homes that they have seen previously and did not make an offer.
6. Do I need to be present during home inspection?
  • It’s recommended that buyers be present during the home inspection. Following the inspector from room to room will allow you to ask questions as they go.
7. What inspections are the sellers responsible for when selling a home?
  • It’s almost always the buyer’s responsibility to pay for home inspection services, ie. Home inspection, sceptic, stucco or any specialty inspections. including the onsite visit and report.
  • Typically, sellers are responsible for CO, fire and well inspection.
8. What should I be looking for during a home inspection?
  • Home inspectors typically examine the electrical, plumbing, HVAC systems, doors, windows, roofs, and other elements of the home. You want to pay attention to any big ticket Items. In addition, there are other types of inspections that are focused on looking for pests, asbestos, mold, and other potential health hazards.
9. How do I prepare my home before I sell it?
  • When preparing to sell your home, the first thing to do is make it presentable. This means giving the entire house a thorough cleaning and making small repairs. Little things like patching holes in the wall, changing burned-out lightbulbs, and repairing broken appliances can make your place stand out in a crowded market. Also, returning the walls to a neutral color can make rooms seem bigger and help potential buyers see themselves living there.
10. How long will it take to sell my home?
  • That’s up to you! If you visit a home and fall in love with it, there’s nothing that says you need to see another. The key is to put an offer when you feel it’s right. Remember grass is not greener on the other side and if you think the longer you take to find your perfect home and next time out or next month you will see a better home what in reality happens is quite an opposite. I see more people regret not putting an offer on the homes that they have seen in the past and those people end up settling on homes that are not ideal when comparing to the homes that they have seen previously and did not make an offer.
11. When is the best time to sell a home?
  • Early spring and summer, especially June, is a great time to sell a home.  Overall, home sales are still pretty good through early fall, so it wouldn’t be a bad idea to sell a home during this period, either.
12. How can a real estate agent help me sell my home?
  • That’s up to you! If you visit a home and fall in love with it, there’s nothing that says you need to see another. The key is to put an offer when you feel it’s right. Remember grass is not greener on the other side and if you think the longer you take to find your perfect home and next time out or next month you will see a better home what in reality happens is quite an opposite. I see more people regret not putting an offer on the homes that they have seen in the past and those people end up settling on homes that are not ideal when comparing to the homes that they have seen previously and did not make an offer.
13. Should I sell my current home before buying a new one?
  • Whether or not you should buy a new home before selling your existing home is a personal choice. Having a new home lined up gives you peace of mind when selling, and you can move out on your own time. It also prevents you from lining up temporary housing (and having to move twice), which can be a pain.  That said, you may get stuck paying two mortgages at once. This can be a problem if your sale takes longer than expected. Choice is yours!
14. What is the first step for buying a home?
  • Getting pre-approved for a mortgage is the first step of the home buying process.  It allows you to go into any deal with 100% intention and ability to buy.
15. What is earnest money/hand money?
  • When you make an offer on a home, your agent will ask for a check to accompany it typically $1000. Earnest money is made in good faith to demonstrate to the seller that the buyer’s offer is genuine.
16. What is title insurance?
  • Title insurance protects homeowners from claims against their home that happened before they purchased it, such as a prior owner’s failure to pay taxes, utility, association leans or fairly compensate contractors.  If you have title insurance, you’ll be covered for legal fees or title disputes that may come up during your time as the homeowner.
17. How can a real estate agent help me buy a home?
  • That’s up to you! If you visit a home and fall in love with it, there’s nothing that says you need to see another. The key is to put an offer when you feel it’s right. Remember grass is not greener on the other side and if you think the longer you take to find your perfect home and next time out or next month you will see a better home what in reality happens is quite an opposite. I see more people regret not putting an offer on the homes that they have seen in the past and those people end up settling on homes that are not ideal when comparing to the homes that they have seen previously and did not make an offer.
18. How much do I need for a down payment?
  • The national average for down payments is 11%. But that figure includes first time and repeat buyers. First-time home buyer programs, the FHA loan, requires 3.5% down.

Didn’t find the answer to your question? Ask away!