Real Estate FAQs to Get You Started
Looking to buy or sell your property can be a challenging but exciting time. There are many steps in the Real Estate process, many you may not be aware of or familiar with. Addressing some of your questions can be the answer to a successful buying or selling experience.
To follow are a few of the questions I am asked when people are ready to buy or sell their home, whether in Centerville or elsewhere.
Frequently Asked Real Estate Questions
Should I use a Real Estate Agent or try to sell my home myself?
Unless you are very experienced in selling your home and have done it before, do not attempt to sell your home by yourself. The sale of your home involves numerous legal challenges and questions, all of which, if answered wrong, could cost you thousands of dollars, not to mention your home.
What is the “Multiple Listing Service and do I need it when I am selling my home?
Typically called the MLS, Multiple Listing Service is a nationwide service that will increase the exposure of your property. It makes it easier to reach a large number of prospective buyers. It’s a system under which participating brokers agree to share commission on the sale of houses listed by any one of them. If you list your house with one agent and another makes the sale, they both share the commission. It will benefit you, because more people have an interest in selling your home.
What information is used when listing my property on the MLS, ‘Multiple Listing Service’?
No personal information is listed on the MLS. Only detailed information pertaining to the sale property is provided to the public. Contact information is directed to the Real Estate Agency/Agent your property is contracted with.
There are several mistakes consumers make when selling a home. Would you explain some of those mistakes?
Mistake #3. A: Taking for granted the “curb appeal” of your home. When you’re preparing your house for sale, remember the importance of first impressions. A buyer’s first impression can make or break whether they even want to go inside for a look. It is estimated that more than half of all houses are sold before the buyers even get out of their cars. With that in mind, be sure to stand outside of your home and take a realistic “fresh look” and then ask yourself what can be done to make the “curb appeal” improve.
Also ask your Realtor’s opinion as to how to improve the curb appeal. It could make a huge difference in your final sale price.
Also ask your Realtor’s opinion as to how to improve the curb appeal. It could make a huge difference in your final sale price.
What is a Homestead Exemption?
The Homestead Exemption is a constitutional benefit exemption removed from the assessed value of your property. It is granted to those who possess title to real property and are actual residents
living in the dwelling and making it their permanent home.
living in the dwelling and making it their permanent home.
What are VA loans?
The Veterans Administration (VA) created a loan program to help military purchase homes. VA loans require no down payment. Veterans, current military personnel and spouses of veterans who died of service-related injuries may apply for VA loans. Certification of eligibility is required.
What are lease options and lease-purchase options?
Buyers who lack funds to make a down payment might want to consider a lease option or lease-purchase agreement. With a lease option agreement, the buyer leases the home for a specific amount of time, usually 12 to 24 months, in which he/she has the option to buy the home at a price agreed upon during the term. With a lease-purchase option, the buyer leases the property for an agreed amount of time and is obligated to purchase the property when the lease expires.
