Frequently
Asked Questions
Buying, selling, or investing in real estate often comes with a lot of questions.
Below are answers to some of the most common things clients ask as they navigate the process.
If you don’t see your question here, I’m always happy to talk through your situation and provide clarity.
BUYING FAQ'S
Whether you're a first-time buyer or a seasoned investor who needs a refresher on how transactions work, here are some answers to the most often asked questions.
The first step in the home-buying process is to get pre-approved for a mortgage. Obtaining a lender's pre-approval letter sets the ball rolling in the correct way.
Buying a home takes roughly 10 to 12 weeks from start to finish (from searching online to closing escrow). The average time to close escrow on a home is 30 to 45 days after a home is chosen and an offer is accepted (under normal market conditions). However, cash-paying home purchasers who are well-prepared have been known to purchase properties much faster.
The average down payment in the United States is approximately 11%. This figure includes both first-time and repeat homebuyers.
That said, many buyers can purchase a home with as little as 5% down, depending on the loan program and financial profile. In Colorado, there are also state and local grant programs available to help qualified buyers with down payment assistance, which can significantly reduce upfront costs.
Because every situation is different, I help buyers explore financing options and assistance programs to determine the most strategic path forward.
If the equity in your current home will be used to fund the down payment on your new purchase, your existing home will likely need to be sold first.
That said, this is not always the case. There may be lending options or unique strategies available that can help you avoid the stress of selling before buying, depending on your financial situation and goals. I work closely with clients to explore all available options and determine the most practical and comfortable path forward.
It's entirely up to you! Home buying is, without a doubt, easier today than it has ever been. The opportunity to browse for homes online and view photos before leaving the comfort of your own home has dramatically transformed the home-buying process. Convenience has never been higher. But nothing beats seeing a house in person to get a sense of how it looks and feels.
The timeframe in which the seller must react should be specified in written offers. It should be enough to give them twenty-four hours.
Have a Question That’s Not Answered Here?
Real estate questions are rarely one size fits all. If you don’t see your question answered above, you’re invited to submit it using the form below. Over time, I’ll continue to add new questions and answers to this page so it stays helpful, relevant, and up to date.
No question is too small. If you’re wondering about it, chances are someone else is too.
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