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  • Should I do a final walk-through?
    A final walk-through is not required but is highly recommended. Final walk-throughs allow buyers to ensure nothing has changed since their initial inspection or previous visits. Also, if repairs were requested as part of the sale offer, a follow-up visit provides that all repairs are done according to the agreement and contract.
  • Should I do a home inspection?
    Either order a home inspection for your client or have them call one. A home inspection is one of the most vital steps when purchasing a property. The inspectors can comment on structural and cosmetic issues and any local code issues. Moreover, a home inspector will help you determine the home's value better.
  • Should I sell my current property before buying a new one?
    This is a tricky question, and the answer primarily depends on one's funds and ability to find temporary housing. If you need more equity to purchase a new home or meet a mortgage plan, selling one's current home before buying the next one is best. That being said, you will most likely need temporary housing with a friend or relative or by arranging a short-term rental elsewhere.
  • What is the first step in buying a home?
    Your first step is getting approved for a mortgage.
  • Should I order a home inspection?
    Getting a pre-sale home inspected is always a good idea, especially to get your client the best price for their home. Some homebuyers will feel uncomfortable purchasing a house without seeing a home inspection. Many will often hire their inspector. It's better to be safe than sorry.
  • How should I prepare my house before selling it?
    You must help clients ensure that the HVAC, plumbing, and electrical systems work correctly. Each room should look clean and decluttered with no overt damage insight.
  • Is there a reason my home's assessed value differs from the market value?
    A public tax assessor gives the assessed value for a property. This assessment typically occurs yearly for taxation purposes. The fair market value is an agreed-upon price between a willing buyer and seller. There is usually a difference between the assessed value and the market value. For homeowners, the assessed value is a double-edged sword. Because if their annual assessed value increases, their yearly taxes will also be raised. On the flip side, selling a house can help boost its market value.
  • Are real estate prices negotiable?
    Yes, almost everything in real estate is negotiable. Typically, there is a difference between a home's list price and how much it sells for. The current market's saturation will determine how much wiggle room there is for negotiation. If you're on the buyer's side, expect the house to be able to be purchased for less if there is a lower demand than supply in the market. Vice versa, if you're on the seller's side, expect it to sell for less usually. That being said, you never know who else is house hunting. Sometimes people will swoop in and offer the exact asking price.
  • What is an agent's commission fee?
    In a real estate transaction, the agent is usually paid by the seller via commission instead of a flat fee. Typically, a real estate commission fee is 5–6% of the home's final sale price. In many cases, the buyer's and seller's agents split the commission fee 50/50. Both received 2.5–3%. As a broker or agent, you can use this easy-to-use real estate commission calculator to determine your commission fee. Also, some real estate agencies will work at a discounted rate of around 3% or for a flat service fee. The discounted rate and flat fee can be cheaper but can also result in a lower quality of service.
  • How long will it take to sell my home?
    Once the house is on the market, it may take anywhere from four to six weeks to sell. However, a seller could see their house off the market within a week if the market is relatively hot. On the flip side, if there is a pause in the market or issues arise, such as negotiation, lack of exposure, or house conditions, then the property can sit on the market for months.
  • What is the selling price of my home?
    The selling price of a house fluctuates depending on multiple factors. The most common ones are the neighborhood and what similar-sized houses are currently selling for. Also, look at the age and condition. Do significant repairs need to be done? If so, that might lower the property. And again, the market matters. Like everything else, home prices vary depending on supply and demand.
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