Get the answers to the most frequently asked questions, for selling or buying your next home. Or call us at 413-527-8311 and we will be happy to assist you.
FAQ's for Sellers
I'm thinking about selling my home, where do I start?
Begin looking for a real estate agent. Since you’ll be working together closely from listing to closing, you’ll want to choose someone you feel comfortable with and who communicates well.
It’s a good idea to interview several agents before deciding on the person that is right for you.
How much is my home worth?
Any of our agents can provide you with a comparative market analysis (CMA) to help you understand, in detail, what your home may be worth and why. With this information you can work with your agent to discuss a number that is both comfortable and realistic.
Keep in mind that a CMA is not an official appraisal of the property. An appraisal is conducted by a licensed appraiser and is required by a lender to ensure the property is valued for at least the amount of the loan (unless the buyer is paying cash).
How much work needs to be done to my home before putting it on the market?
Often there is far less to do than you think! Before you spend money on upgrades that may not add value to the sale price of your home, just talk to your agent. We’re here to help you understand when it makes sense to spend time and money, and when it doesn’t.
How long will it take to sell my home?
The answer depends on local market conditions, demand, time of year and a variety of other factors.
So far this year, 80% of our homes received an offer in 30 days or less. Once your home is under deposit, it usually takes an additional 30-45 days to close the sale.
FAQ's for Buyers
Should I talk to a bank before looking for homes?
Yes! There are several reasons to talk to a bank before looking at homes, the first being the best way to know how much you can borrow to purchase a home. You’ll also have a better understanding of the different types of loans available to you and it’s a great way to learn about special programs for first-time home buyers that may help save you money.
A mortgage professional is able to help you understand exactly what costs are associated with buying a home. They can explain the difference between a down payment, pre-paid items, closing costs, escrows and more.
What is the difference between pre-qualified and pre-approved?
The two are not the same. In short:
Pre-qualified is an indication of creditworthiness and the likelihood of receiving a loan. The lender will give you an estimate for a loan amount.
Pre-approval is the definitive “yes”. You will need to complete an official mortgage application before receiving the status of pre-approved. Pre-approval will make you a much more attractive buyer.
For a more detailed explanation click here.
How long does it take to buy a home?
The answer depends on a variety of factors but here’s what you can expect; at least a few days for the initial pre-approval process; anywhere from a few weeks to a few months finding the right home; and 30-45 days to close the deal.
Do I need an agent to help me buy a home?
You do not need to use a buyer’s agent but there are several benefits in doing so.
A Buyer’s Agent:
- Is someone who is representing your interests. If you think about it, the goal of a listing agent is to get the highest sale price and best terms for their client, your needs as a buyer don’t factor into their bottom line. A buyer’s agent is in your corner.
- Almost always costs you nothing since the seller pays the buyer’s agent commission.
- Will help you arrange financing, connecting you with lenders and comparing different financing options.
- Assists you in finding the right property. A buyer’s agent will set you up with instant alerts when a new home comes on the market that is right for you. They also network with other agents to locate properties that may not yet be on the market to help you gain an edge on the competition.
- Prepares you for multiple-offer situations and helps develop negotiation strategies.
6. Is an advocate and advisor during the offer process, inspection and closing.