FAQ - REAL ESTATE SERVICES
How many properties does the typical buyer look at?
Average buyer will visit 10 homes.
How often do you find the perfect property on the first day (80/10/10 Rule)?
You rarely purchase the first home you see but it can happen. When we meet I’ll tell you about the Rule.
Is there anything i should not do during the house hunting or building process?
Yes, I have a handout for you on this!
Do student loans affect the process?
Yes, affects your debt to income ratio.
When should we make the offer?
As soon as you know you want the home.
How much should the offer be?
I tell my clients to make a no regret offer but we’ll also talk about what the market is doing to help you determine the right offer for you.
Will I get into a multiple offer situation?
Depends on the market, currently highly likely!
Is the closing date on the contract guaranteed?
Not necessarily and don’t be surprised if it may change.
How much earnest money should I put down?
Generally, a buyer will deposit 1% to 2% of the purchase price in earnest money, but that amount can be higher depending on your agreement.
What happens to my earnest money?
It will be held in an escrow account and applied to the rest of your down payment at closing.
Will I get my EARNEST MONEY back if the contract is not accepted?
Yes, if your offer is not accepted your earnest money will not be deposited.
Do I really need a home inspector?
Yes, I’ve got a handout for you on this!
How long does the inspection take?
Typically the inspector takes 3 hours to inspect the home, sometimes they ask you to be there for the duration and some let you know to come by the last hour.
What is the process to get my EARNEST MONEY back if the home inspector finds a major issue?
We would fill out a Cancellation Amendment and request the earnest money to be refunded.
Can you recommend a lender, home inspector or an attorney?
Yes, I do have a list of professionals I work with regularly.
Should I lock in my interest rate or should I float?
Your lender will work with you closely on this.
How long does the home buying process take?
10 weeks is the avg time spent looking for houses. Typically it takes 30-45 days for your lender to get things in order for your home purchase.
When will I get the keys?
Immediately after closing.
What monies will I need to come to the table with?
Your Lender or Title Company will advise the amount needed for closing. In the buyers consultation we’ll talk more about this.
Can you explain what money will be wired (Cyber Fraud)?
Never wire any money without talking with me or the title company first.
What happens at the closing?
On closing day, the ownership of the property is transferred to you, the buyer. Closing consists of transferring funds from escrow, providing mortgage and title fees, and updating the deed of the house to your name.
What To Expect With Tanya Lundberg
Buyer's Guide To Prepare For Closing
Preparing Your Home
Inspections
Moving Checklist
Things You Shouldn't Do
FAQ - Real Estate Services
