Frequently Asked Questions

Many factors affect home values nationwide including consumer confidence in the economy, demand for real estate, interest rates and job growth. Your home’s actual value, however, is dramatically affected by a combination of local factors that can cause its value to depreciate. Some factors are within your control.Some aren’t.

A real estate broker is an agent who is authorized to open and run his/her own agency. All real estate offices must, by law, have one principal broker. A seller’s agent is a real estate agent that works solely on behalf of the seller and owes duties to the seller, which include utmost good faith, loyalty, and fidelity. However, the agent must disclose to potential buyers all adverse material facts about the property, which are actually known by the broker. A buyer’s agent is a real estate agent that works solely on behalf of the buyer and owes duties to the buyer, which include the utmost good faith, loyalty and fidelity. The buyer is legally responsible for the actions of the agent when that agent is acting within the scope of the agency. The agent must, however, disclose to potential sellers all adverse material facts concerning the buyer’s financial ability to perform the terms of the transaction.

The best answer is “as many as it takes to find a home that works for you”. Purchasing a home will most likely be the single largest investment you will make, so it is important to make sure you find a home that meets your current and future needs. It’s best not to look at just one home, but also not to look at more than 6 or 7 in one day. It’s common to confuse the features if you view too many in one day. Bring a notepad and pen and take notes on your likes and dislikes of each home.

There are several things you should consider:

• is the asking price in line with prices of similar homes in the area?
• is the home in good condition or will you have to spend a substantial amount of money making it the way you want it?
• How long has the home been on the market? If it’s been for sale for a while, the seller may be more eager to accept a lower offer.
•  How much do you really want the home? The closer you are to the asking price, the more likely your offer will be accepted. In some cases, you may even want to offer more than the asking price, if you know you are competing with others for the house.

 Giving them twenty-four hours should be sufficient.

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 proffered by the seller, you’re still in the game. We just need to review it 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 we do as a matter of routine. Each revision should bring both parties closer together on the terms of the deal.

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.