Q & A
Desiree'
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QUESTIONS AND ANSWERS
Does The Celebrity Realtor only work with celebrities?
No. I work with all buyers and sellers in their purchase or selling of residential, land or
commercial properties, regardless of price or area.
How do I know if I'm ready to purchase a home?
If you have steady income, have been employed for more than two years with the same
employer, have saved money for a down payment and have a good record of paying your bills
on time, you are ready to purchase a home.
How does buying a home compare to renting?
By renting, you lose the chance to build equity, taking advantage of tax benefits, and
protecting yourself against rent increases. Owning a home gives you all of the above benefits
plus more.
Is an older home a better value than a new home?
You should look at each home for its individual characteristics. Although older homes will be
in a more established neighborhood, you will most likely have some repairs to complete
(repairs can be negotiated with seller). Newer homes will most likely come with warranties
which means less upkeep and headaches.
How many homes should I consider before choosing one?
On average, home buyers see 15 homes before choosing one. Good communication with your
agent regarding your home needs will help avoid wasting time.
How do I determine and initial offer?
Calculating your offer should involve several factors: what homes sell for in the area, the
homes condition, how long the home has been on the market, financing terms and seller's
situation. Be prepared for give and take negotiations until terms and price are agreed upon.
How do I make an offer?
Your agent will assist you in making an offer, which will include the following:
*Complete legal description of the property
*Amount of earnest money
*Down payment and financing terms
*Proposed move-in date
*Price you are offering
*Proposed closing date
*Length of time the offer is valid
*Details of the contract
What is earnest money? How much should I set aside?
Earnest money is a deposit made by a potential buyer to show that they are serious about
buying property. Earnest money must be substantial enough to demonstrate good faith and is
usually between 1-5% of the purchase price.
BORROWED FROM HUD WEBSITE