Buying or selling a home is an exciting but sometimes complicated process. That's why our agents have created a list of answers to some common questions.

I'm a first-time home buyer, what should I do first?

Before looking for a home, determine your price range, down payment amount, and estimated settlement charges. Lenders use different variables including income, debt load and credit scores to determine how much a potential buyer can take out as a mortgage knowing what you can afford makes finding the right home easier.

Why do I need a home inspection?

Before you close on a home, you should hire a home inspector to evaluate its condition. That way, you avoid surprises after settlement, and you can see the condition of the home firsthand. You can also order additional tests for radon, wood destroying insects or lead paint.

What are the benefits of having a buyer's agent?

The home-buying process from looking through listings to actual settlement has many steps to be fulfilled and deadlines to be met. Your agent can guide you through the process, whether you are looking at your first home, transferring to the area, or searching for investment property. Additionally, a buyer's agent is familiar with past home sales in the area and can help buyers decide on a fair offering price for a home.

Why should I be pre-approved with a lender before I look at homes?

Before you start looking for a home, knowing what loans are available to you and their rates and terms lets you focus your search on getting the best home for your money. A pre-approval letter is also part of the buyer's offer on a home. Having this letter in advance ensures that the seller will take the buyers offer seriously an important factor anytime, but especially if there are multiple offers.

Which home improvements will have the most payoff when we sell our house?

In general, you can expect improvements to kitchens and bathrooms to add the most to your resale value. More substantial remodeling can also pay off if the new addition puts your home in the same class as others in the neighborhood. Your REALTOR can tell you which improvements will add the most resale value to your home.

What does “Sale Pending” mean?

When a buyer and seller sign an Agreement of Sale, there are contingencies that need to be met before the sale is final and closed. Sale pending tells us that an agreement has been entered into but all the contingencies haven't been satisfied yet. For example, the buyer might still need to apply for a mortgage if the buyer can't arrange for financing for some reason, the home might come back on the market.