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Frequently Asked Questions

Real Estate FAQs

01 How much do I have to pay an agent to help me buy a house?

Home buyer pay no fee to their real agent to buy a home, it is the seller that pay your real estate agent. Home sales, there are two real estate agents involved in the deal: one that represents the seller and another who represents the buyer and both has to be paid by the seller.

02 How much do I need for a down payment?

Your down payment varies base on the loan program you are applying or qualify for. They are various loan programs:

1. FHA which is a federal government housing program you put 3.5% down payment.

2. Conventional loan is from 5%, 10%, 15% , 20% down payment.

3. VA is zero dollar down payment which is exclusively for the military.

03 How long does it take to buy a home?

Buying a home takes about 10 to 12 weeks. When a home is selected an the offer is accepted, the average time to complete the whole loan and other period on a home takes 30 to 45 days.

04 What is earnest money?

This money or payment essentially takes the home off the market to anyone else and reserves it for you. By paying it you demonstrate you are ready and very interested in the house. It is your commitment payment into the house that you give to the buy which will be added to your closing in the event that you eventually close on the house but if you pay it and did not close on the house you will lose the earnest money. However, if you put your earnest money on a new build by a builder you and eventually did not close on the house the builder will transfer your earnest money into another house for you.

05 Should I order a home inspection?