FAQs About Buying and selling

HOME BUYING

• Appreciation in Value
• Tax breaks
• Freedom
• Security
• A sense of pride

Let's meet to fully realize all the benefits homeownership has to offer you.

It's an important question! If you say yes to the following questions, you are most likely ready to buy:

• Do I have a steady job? 
• Have I been steadily employed in the same line of work for the last two years? (if not the same employer)
• Have I paid all my bills on credit on time for the last 12 months?
• Do I have few debts, such as car payments, outstanding?
• Have I saved for a down payment?

If you said yes to all these questions, you may likely qualify for a home loan.

Think of a credit score as a snapshot of your ability to pay back creditors. It's a score lenders use to determine whether they should lend to you, and at what interest rate. The higher the credit score, the better the chance of getting a loan. 

If you have a low credit score, you MAY still be able to get a home loan, but will require an action plan. Connect with us so we can best advise you on what options you may have.

Each lender is different: and each situation is different. However in our market, lenders expect anywhere between 3% and 20% of the purchase price. However, there are some down payment assistance programs in our area as well. Consult with an AMAR Real Estate group specialist for more information. We suggest saving to realize the best benefits of homeownership. 

5. What are closing costs?

Closing costs are all the costs involved in purchasing or selling a home, including but not limited to:

• Loan Origination Charges
• Appraisal Fees
• Escrow Prepayments of Taxes, Insurance & Interest
• Attorneys Fees
• Title Insurance
• Plus much more

These costs are in addition to your down payment. The good news is many of these costs can often be negotiated to be paid for by the seller. Let us at the AMAR Real Estate Group help you navigate these negotiations.

1. Why use a REALTOR®?

Only Sales Representatives who are licensed members of organized real estate (National Association of REALTORS®) can call themselves REALTORS®. Only REALTORS® are held to a high code of ethical and professional conduct by these organizations. Only REALTORS® have access to their market data to provide you with current information to guide you through the pricing and selling process. 

2. How do you come up with a price for my property?

At the AMAR Real Estate Group, there are two ways we determine the best pricing for your property: a comparable market analysis, and a competitive market analysis.

A comparable market analysis reviews similar properties that have recently sold in comparison to your property. Numerical adjustments are made to determine what the best sales price would be for your property. 

A competitive market analysis takes a look at "the competition"; or similar properties that are currently for sale on the market, or have expired. Similarly, we make numerical adjustments to determine what list price would likely bring in an offer, and what list price might scare away buyers. 

Important Notes

• What you originally paid for the property does not affect its current value
• The amount of money you need to get from the sale does not affect its value
• What you think it should be worth has no effect on its value
• What another real estate agent says your property is worth does not affect its value
• An appraisal does not always indicate what your property is worth on the open market

3. My property has been on the market with several agents and has not sold. Why?

There could be several reasons as to why your property has not sold, but a combination of the following are the most common:

• Price - This is the most common issue for sellers. An overpriced home attracts the wrong buyers and the right buyers won’t see it.
• Location, Location, Location - It's a popular saying for a reason. This does not only refer to its physical location, but orientation. Is the property on a busy street? In front of a school? Does it have a view? Depending on the circumstance, this could affect how quickly your property sells. Consult with us to determine what hurdles we can overcome together.
• Condition - The state of repair (or disrepair) can affect how some buyers view your property, or if their lenders will even lend on the property. Consult with the AMAR Real Estate Group on how to best prepare your home for the market.
• Marketing - That's where we step in! We know how to get your property in front of the most eyes. If buyers know about your property, the better the chance of selling.