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Buying a home starts with more questions than answers.

Below are a few answers to help you!

Why do I have to get pre-approved for a home?

A. You may qualify for $1 million, but do you want to make that monthly payment? By sitting down with an expert to review your budget for your house along with your long term financial goals, the loan officer can give you an amount that fits your goals. Now you can view homes with the confidence that you will be living IN your home rather than FOR your home.

How much should I set aside to purchase my home?

A. There are six main and separate considerations:

  • ​Financing - Down payment

  • Appraisals - $400 - $700

  • Inspections - $200 - $400 (unless an issue is found and further inspections are needed)

  • Closing Costs - Fees related to purchase beyond down payment (i.e. escrow fees, title insurance, etc.)

  • Down Payment - Separate from general fees related to purchase

  • After Close of Escrow - Moving expenses and, of course, personalizing your home

Do I need an agent to purchase a home?

A. Having a Real Estate Agent offers....

  • Convenient access to RELIABLE information

  • More access to homes that are available to you

  • More negotiating power

  • More knowledge regarding Market, Properties, Laws and Regulations

  • ​More confidence knowing that your agent is held to a higher standard​

  • More experienced representation to keep the process moving efficiently

  • More experience of knowing when a "Red Flag" pops up

  • More experience in finding solutions that benefit you

Who is my go-to person when buying a home using financing? My agent or My loan officer?

A. When purchasing a home with financing, you are purchasing two things:

  1. Your Home

  2. and The MONEY to pay for your Home!

Your real estate agent will walk you through everything that has to do with the home and your loan officer walks you through everything that has to do with paying for the home. Your agent and your lender should work in tandem to support you in reaching your goals.

Should I buy a home warranty?

A. A home warranty minimized expenses that may arise when mechanical systems fail in the home. Older homes can face a number of issues that may become expensive. When you have a warranty you will pay a deductible (usually $55-$75) and warranty pays for those items covered. We always recommend that you at least look into the option so you can make an informed decision whether it is right for you.

Should I get an inspection?

A. We cannot stress enough of the value of a home inspection. To have a professional review all systems and safety issues in the property before you close escrow allows you to have a more complete understanding of what you can expect to encounter once the home becomes yours. Occasionally, some sellers are willing to remedy the issues prior to closing escrow. But even if the seller does not agree to make repairs, you have the opportunity to make an informed decision of what responsibilities you are willing to take on.

What is an HOA?

A. HOA stands for Homeowners Association. They are responsible for managing CIC's or Common Interest Communities. These organizations, usually established during initial development, are led by members of the board who are actual homeowners in the community. While the board leads the community, they usually hire a management company to facilitate the administrative and enforcement duties outlined in the governing documents.

Should I buy a home in an HOA?

A. This is a personal choice. Some prefer the option so they know that a certain set of standards will be maintained and regulated. On the other hand others prefer the option of no HOA hoping for more privacy and freedom from such groups and potential abuses of power. Additionally, it is important to understand the legal responsibilities of owning in an HOA. It is prudent to do your research and seek guidance of legal professionals before making a final decision. 

What is a Short Sale?

A. A short sale is where a seller sells a property for an amount that is less than what that seller owes the bank. The seller must submit paperwork to the bank to get approval to proceed with sale and agreement form bank to release lien before closing escrow.

What should I know about a Short Sale?


  • Negotiations could take place up to several times during the transaction.

  • Length of time may take 45 days - 24 months. The average short sale is approximately 120 days.

  • Financing - Time vs. Interest Rates and Market Values.

  • Is the home operating or being maintained during escrow.

Short Sales are not for everyone. However, for some they are a great option. As with every real estate purchase it depends on your end goals!

What is an REO?

A. REO is Real Estate Owned property. It sounds confusing but simply put, these are bank owned properties.

What should I know about buying an REO?

A. Buying an REO is not much different than purchasing a traditional sale. You may see some things like...

  • Some may accept offers up to a certain date.

  • Some may NOT pay things like home warranties, transfer taxes, HOA transfer fees, etc.

  • Some may only review owner occupied buyers offer for a period of time before considering investor options.

  • Some may offer concessions such as a two year home warranty or special financing options.

  • Some are willing to repair certain items and may usually use reputable vendors to do so.

  • Some repair properties prior to placing on market.

This all depends on what type of REO. Usually this information is offered up front and your Realtor should be able to share this with you prior to placing the offer.

For further assistance you can contact us on our CONTACT page!

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