Questions Buyers
Should Ask

Q:  I'm thinking about buying a home - where do I start? A: First things first - let's get your foundation in place:

• Get a strong pre-approval, not just pre-qualification (subject only to appraisal and Purchase and Sale)

• Understand your true budget including all costs (moving, fees, escrow, etc)

• Have liquid funds ready for deposits 

• Build your professional team

• Define your must-haves vs. nice-to-haves; Remember: Preparation prevents problems.  Get your ducks in a row before falling in love with a house

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Q:  How do I know what I can really afford? A: Let's look beyond the basic mortgage payment:

• Monthly costs include taxes, insurance, utilities

• Factor in maintenance reserves

• Consider future property value trends

• Account for lifestyle changes

• Plan for the unexpected: This is just the beginning - smart buyers plan for all costs

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Q:  What should I do at Open Houses? A: Be strategic and protect your interests:

• Always sign in with my name

• Let me ask questions about a property on your behalf as a follow-up

• The listing agent is judging you - be delightful when you engage

• Report feedback to me

• Use visits to learn market values

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Q:  I found a house I love - now what? A: Let's move strategically:

• Time is critical - hesitation can cost you the house

• Other buyers may be interested

• Showings continue until the seller accepts an offer in writing

• We need to review comparable sales quickly

• Be prepared to make your strongest offer, you never know if you’ll have a chance to improve it 

• Remember: Nothing is official until the seller signs. Let's protect your interests while acting decisively. Let’s avoid end of month closings and Friday contract dates

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Q:  What if other buyers want the same house? A: Here's how to stand out in multiple offers:

• Use odd numbers ($806,100 vs $805,000)

• Consider eliminating non-essential finance or home inspection contingencies

• Offer to cover potential appraisal gaps (If appraisal comes in under sales price, you can offer to increase your down payment to satisfy the lender up to $X..)

• Consider "information only" inspection

• Show strong pre-approval from reputable lender

• Write a compelling buyer's letter

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Q:  When do I need an attorney, and who should I choose? A: Select your attorney before making offers:

• Choose a LOCAL real estate specialist

• Avoid relatives and out-of-state attorneys

• Ensure they're familiar with our market

• Remember: The only obligations are those in the agreed contract Use an attorney who specializes in real estate. You wouldn’t see a dermatologist for a broken bone.

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Q:  How does the inspection process work? A: Several critical paths open up:

• Standard inspection with repair requests

• "Information only" inspection

• Pre-offer inspection if possible

• Waive home inspection contingency

• Timing is critical - don't miss deadlines Note: Your deposit is at risk after inspection contingency expires

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Q:  What happens after inspection? A: Several critical paths open up:

• We receive detailed inspection report

• We review findings together

• Options include:

  • Request repairs

  • Ask for credit

  • Accept as-is

  • Walk away if serious issues 

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Focus on material defects, not cosmetic issues. If something is unsafe, will be costly to repair, and could not have been known through visible inspection or disclosures, we may be able to ask for a credit to repair if we have leverage.

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Q:  I need to sell my current home - how does that work? A: Let's navigate this carefully:

• Most sellers expect a 24-hour kick-out clause

• Your deposit becomes non-refundable after commitment

• We have financing options that may allow you to buy first (if at least 80% equity)

• Everyone in the chain needs skin in the game

• Time your transactions carefully

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Q:  What happens with the appraisal? A: Here's what to expect:

• Bank orders appraisal after inspection

• You pay for it upfront ($600-800, single, $900-1300 Multi -depending on size)

• Takes 7-10 days typically

• If it comes in low:

  • Negotiate with seller to lower price

  • Increase down payment to satisfy lender

  • Appeal appraisal (long shot, and only if we have good comparable sales)

  • Consider switching banks and getting another appraisal (unless FHA or VA)

  • Walk away if necessary 

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Note: Having appraisal gap coverage in your offer can be a winning strategy

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Q:  When is my purchase really "official"? A: You own your home after the closing when the deed is recorded at the registry. Warning: Missing deadlines can void your contract.

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Q:  What do I need to do before closing? A: Let's prepare properly:

• Schedule utilities to transfer

• Arrange homeowner's insurance

• Get bank checks for closing (or wiring instructions from reliable phone number!)

• Plan final walk-through

• Gather all necessary documents

• Don't make major purchases or open new credit. Even small credit changes can derail your financing at the last minute. Don’t change jobs

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Q:  What should I expect at closing? A: Here's your closing day guide:

• Bring photo ID

• Plan for 60-90 minutes

• Review all documents carefully

• Get all house keys

• Receive copy of deed

• Coordinate move-in timing Remember: You're not authorized to move in until deed is recorded at Registry. Late closings will go on record the following biz day.​

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Leading Edge Commitment: We're here to guide you through each step, protect your interests, and help you make informed decisions.

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Need more specific strategies? We will provide you with detailed, personalized guidance for your unique situation.  While market conditions may change, these fundamental principles remain valuable.