Wednesday, February 13, 2019

Commonly Asked Real Estate Questions

#AskPaul&Robin



What are closing costs?
Closing costs are expenses incurred by buyers and sellers in transferring ownership of a property.
What does FSBO mean?
FSBO stands for For Sale By Owner. A for sale by owner property usually indicates that the property is being sold without a real estate agent.
What is the difference between being prequalified and preapproved for a loan?
If you're prequalified it means that you POTENTIALLY could get a loan for the amount stated to you, assuming that all of the information you provide to the bank is accurate and true. This is not as strong as a preapproval.

If you're preapproved, it means that you have undergone the extensive financial background check, which includes looking at your credit history, previous tax returns and verifying your employment - and the lender is willing to give you a loan, basically meaning you're approved!

You will usually be provided an accurate figure which shows the maximum amount that you are approved for.  Most sellers prefer buyers that have been preapproved because they know that there will not be any problems with the purchase of their home.

What's the Difference between a "Listing Agent" and "Selling Agent"?
Listing Agents usually deal with sellers, and are the ones who will list a property for sale on the Multiple Listing Service (MLS).
Selling Agents (also Buyers Agents) deal with the homebuyers. They will sell the homes (which have been placed in the MLS) via the listing agents.
If you phone an agent from a magazine or newspaper ad, you are usually contacting the listing agent. These agents will place ads to show the seller that they are making an effort to sell their home. Also their advertising efforts can draw others who may decide to sell their homes.
Why should I use a real estate agent?
A real estate agent is more than just a sales person.  A real estate agent may act on your behalf, providing you with advice and guidance when buying or selling a home. Due to the constant changing of the market, the information available on listings is not always 100% accurate.  There are times when you need the most current information about what has sold or is for sale, and the only way to get that is with a real estate agent.
How Safe is the Neighborhood?
No one wants to live in a dangerous city, but your real estate agent can’t help you with this question. Due to the Fair Housing Act, a real estate agent cannot answer questions regarding crime statistics. Before starting your house hunt, research crime data for the cities and neighborhoods you are considering.

If you have other questions regarding real estate, please comment below!
We will be filming a LIVE Q&A THIS THURSDAY (2/14/19) @ 12pm MT. on our Facebook Page! Click Here For The Link!
We would love for you to tune in and ask your questions!
If you have further questions, please do not hesitate to reach out. We are happy to help you!
Robin 970-270-8601 or robin.levine@gjhomes.com
Paul Zurek 970-778-7753 or paul.zurek@gjhomes.com 




https://www.lakeontariorealty.com/default.asp.f-faq

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