1. How do I know when I have found the right home for me?

During our initial meeting we will conduct a complete assessment using our Buyer’s Profile System to determine what you “need” in your home. Along with the needs assessment, we will review your ability to qualify for a home based on your income and your debt. Using our Mortgage Pre-Approval Program, we will determine if the mortgage comfortably fits your budget. Other questions you should consider include, is the home the right size? We encourage you to make sure the home you choose also fits your lifestyle. By planning ahead, you can decide what you MUST have in a home such as the number of bedrooms and baths; the total square footage along with other must have features. Next think about the home’s location and convenience. Do you need your home to be near your work or a particular school? Make a list of your must haves and what you would LIKE to have such as a two car garage instead of a one car garage, a sunroom or a large yard for the children. We will help you search for homes that includes all of your MUST HAVES and as many of your LIKE TO HAVES as possible.

2. Fraida, you helped me find a terrific home, but how much should I offer?

As your Realtor partner, we will advise you on your offer to insure it is in line with the selling prices of similar homes in the area. Using our market analysis skills and over 50 years of real estate experience we will assist you in determining the offer price and will conduct the negotiations on your behalf. Other critical factors we will consider when making an offer include the condition of the home, how long the home has been on the market and how motivated you are as the homebuyer as well as the motivation of the seller.  

3. What is involved in a home inspection and do I need to have an inspection performed?

 A standard home inspection is a visual examination of the physical structure from the foundation to the roof as well as a visual examination of all the home’s systems including the heating and cooling unit (HVAC) and electrical systems. Yes, for your protection, to avoid unpleasant surprises and your peace of mind, we highly recommend you have an inspection performed on your home. We would be happy to recommend several reputable home inspectors and coordinate your home inspection on your behalf. Contact us now for our list of home inspectors.

4. Fraida, what are my closing costs as the homebuyer?

These are the customary closing costs that are the responsibility of the homebuyer:

• Attorney Fees (both your attorney and your lender’s attorney)
• Property Taxes (reimbursing the seller for the tax period to date)
• Interest (paid from the date of closing to 30 days before the first monthly payment)
• Loan Origination fees
• Appraisal fee
• First premium of mortgage insurance (if applicable)
• Title Insurance (both lender and owners' policy)
• First premium of your homeowners insurance policy (Fire and flood insurance if applicable)
• Documentation preparation fees

During your initial consultation, we will have a mortgage professional present to review all of costs associated with purchasing a home.

Are you ready to start searching for your home? If so, contact us here at Fraida Varah Group Real Estate today and let’s get started.