5 FAQs Of Todays Homebuyers

Dated: 07/20/2016

Views: 403

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Are you looking for a new home or maybe you're going to start the process soon?  Check out the questions I frequently get from buyers, and get yourself ahead of the game! 

1.  What is a short sale?  

In short, it's the total opposite of its name.  Most of the time short sales take time and are not for the impatient, or buyer with a deadline.  A short sale is a home that is being sold for less than what is owed to the lien holder or mortgage company. Once a contract is secured on the subject home, the contract is then presented to the lien holder to do their due diligence so that they can decide whether they are going to grant the short sale, deny the sale, or counter the contract that was presented.  The process of the lien holder to do their due diligence can take 30, 60, and sometimes 90 days! 

2. What is a foreclosure?  

A foreclosure is a home that have been repossessed by the lien holder or mortgage company.  These sales are usually available for immediate purchase and can sometimes be offered at a discounted rate in order for the lien holder to sell it quickly. 

3. What are the utility costs?  

Many times when buying a standard resale home you can request that the seller provide you with an average of the utility bills over the past 12 months.  Sometimes the utility company can even provide you with the average costs.  Keep in mind that everyone is different and can use more or less of a certain utility. 

4. What is the neighborhood like?  

 As a licensed real estate agent in the state of VA, their are laws against steering and providing insight into specific areas and neighborhoods.  I always recommend to my clients to visit the area at night, talk to the neighbors, and or call the local police station to form their own opinion of the area. 

5. What are the schools like?

Another GREAT question that isn't always so easy to answer.  As I would only be able to give my personal opinion on schools that I have educational experience with.  I also always recommend that my buyers do their own due diligence to help form their own opinions.  I recommend checking out www.greatschools.org, and or joining a local moms group, or Facebook group and talking to other parents in the area about their own experiences with the area schools. 

If you have any questions in regards to buying or selling a home, please feel free to reach out to me!  


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Ashley Nicole Brooks

Experience As an agent who's an expert in the local area, I bring a wealth of knowledge and expertise about buying and selling real estate here. It's not the same everywhere, so you need someone you ....

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