Most people are not experts in real estate transactions. It is understandable if you have questions when it comes time to buy or sell real estate. Answering these questions is part of a real estate agent’s job. In this post, we will cover some of the common real estate questions clients ask.
Northern Virginia Real Estate Watch
As of July 2023, the median price per square foot of homes sold in Fairfax County was $319. However, real estate data changes daily. If you need to sell a home in Northern VA, please click here to contact us.
Common Real Estate Questions from Buyers and Sellers
How should I prepare my home to show buyers?
Many sellers wonder what to do to prepare their homes for sale.
You might understand that you should clean the home, but maybe you’re unsure about repairs or staging. It is a good idea to handle low-cost, basic repairs. Painting and landscaping may also be worth your time. Decluttering the home and removing personal items can help.
What is the first step in buying a home?
Most buyers should explore their mortgage options before looking for a home. It can give you an idea of how much you can afford. Preapproval can also make getting the home you want easier once you find it.
How long will it take my home to sell?
It depends on the market. There is no exact timeline for selling a home. On average, it takes around four to six weeks. However, factors like time of year and location can make a big difference. You might also get an offer right away, but you still need to wait for due diligence and closing.
How should I determine my budget?
Setting a budget is an essential step toward buying a house. Buyers need to review their finances to see what they can afford. Consider the amount you have for a down payment and what you can afford in monthly payments. You will also need to account for closing costs.
Are real estate agent commissions and fees negotiable?
The answer to that question is a resounding yes. The common practice is that the commission is around 5-6%. It is usually split evenly between the buyer’s and seller’s agents. Some agents accept lesser commissions. However, they may not offer all services to account for the lower price.
Is a home inspection necessary?
While there is no legal requirement for a home inspection, it is a good idea. Some lenders might also require an inspection for loan approval. A home inspection can help you catch significant issues that may devalue the home or require costly repairs.
These are some of the most common questions people have about real estate. Don’t hesitate to ask your real estate agent if you are unsure about anything. They should be willing to answer all your questions.
Do you need help buying or selling a home in Northern VA? Reach out to Only Pay For What You Need Real Estate. We would be happy to answer all your questions.