1. I want to buy a house, where do I start?

a. Step 1 is to determine how much house you can afford. The best way to do that is to get in touch with a Lender and get prequalified for a mortgage.

2. How do I get an accurate estimate as far as what I can anticipate my total expenses to be? Closing costs + down payment + fees, etc…

a. Ask your lender for an estimated fee sheet. This fee sheet will tell you, based on the home price, the area’s taxes, insurance estimates, and more, what your monthly payment and annual expenses will look like.

3. When should we get pre-qualified/approved/talk to a lender?

a. The best time to get pre-qualified for a loan is just before you start shopping for homes. By verifying how much you’re qualified to borrow, pre-qualification helps you decide what you can afford.

4. Do I need to sell my current house before purchasing a new house?

a. Deciding whether you should buy or sell your house first should be based on your finances, moving timeline and the market conditions of your current and future homes. We can assist you with those decisions based on comparable sales and market analysis.

5. Is there a specific time of year that is best to buy or sell?

a. Historically, March was the best month to sell a house, but that has changed in recent years. It is important to remember that local market circumstances influence the best time to sell or buy. Ask your Real Estate professional.

6. What is a typical inspection period and how does the process work?

a. A typical inspection period is between 7 to 21 days, which depends on the type of property, and must be agreed upon by all parties in the Agreement to purchase. A home inspection is an objective visual examination of the physical structure and systems of a house, from roof to foundation. We typically recommend at least 3 home inspections when purchasing, General, which looks at everything top to bottom, Plumbing, which send a video to your pipes buried underground, and

7. What is the difference between appraisal and inspections?

a. A home inspection only examines the condition of the home and allows the buyers to know of any unknown defects or repairs needed. A home appraisal is a valuation of the property and considers the condition of the home, comparable home prices, lot size, home features, and more. Mortgage companies will need a home appraisal to make sure the value is there when giving you the loan.

8. Can I just go see property with the Listing Agent then call you when I find the one I like?

a. No. When you see the home with the Listing Agent and you decide to purchase, that Listing Agent’s actions and efforts of showing you the home resulted in the sale of the property and therefore is entitled to the commission. Unless the property is open to the public through an Open House or Broker Tour, your Buyers agent must always be present.

9. What all needs to be done in the following weeks/months once I close on a house?

a. First, change locks, set up utilities, change security codes, forward your mail, change your address, and begin to move in. For your mortgage, we recommend you start an autopayment, so you never default. If you plan to file a homestead exemption, you will need to do that within 180 days of closing. Most importantly, don’t worry because your agent is still by your side after closing and will help you with all these steps!

Contact us at Burk Brokerage to learn how you can purchase the home below with ZERO down! (Click picture to be brought to listing)

Frequently Asked New Home Buyer Questions