Buying a Home FAQ

Buying a home is easy when you work with a knowledgeable real estate agent. Your REALTOR® will guide you through the home buying process, answer all your questions, and help you get the best deal on a home for sale. Search homes for sale in Nevada City, Grass Valley, and Penn Valley

Why should I work with a REALTOR®?
How do I get a pre-approval letter for a home loan?
Why do I need a home inspection?

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Why should I work with a REALTOR®?

REALTORS® are held to a strict code of ethics that ensures we have your best interest in mind at all times. We begin by meeting with you to listen to your needs and goals, and to plan the search for your property. We will discuss the nature of buyer representation as well as other alternatives. We will also present and explain to you the representation agreement and the special services and benefits it offers. Our service includes:

  • Search and review all listings of property for sale to find the homes that match your own criteria and needs
  • Take you to see homes for sale that match your desired location, features, and price
  • Provide you with personal assistance and referrals as necessary to help make the home buying process as easy as possible
  • Return your phone calls or e-mails quickly and provide you with a weekly update on your property search
  • Help you arrange a pre-qualification or pre-approval meeting with a reputable lender
  • Provide you with a preliminary estimate of closing costs and down-payment required to buy property
  • Review the positive and negative features of a property that may affect its value and future resale
  • Disclose all inspections and other documents pertaining to the condition of the property and disclose all defects of the property that are known to us
  • Explain the seller’s written disclosure statement to help you negotiate remedies in the offer to purchase
  • Explain the option of a home warranty to reduce repair risks after purchasing a home
  • Recommend that you obtain professional building and termite inspections and provide you with the referrals to reputable inspectors
  • Work with you to negotiate with the seller to remedy issues that may arise from your review of the building and termite inspection reports
  • Prepare a negotiation strategy for the property you want to purchase, including a Competitive Market Analysis and advice on the initial price and terms to offer where permitted
  • Present your purchase offer directly to the seller in the presence of the listing agent
  • Accompany you on a final walk-through of the property before closing and assist you in dealing with any issues you may discover during the walk-through
  • Monitor and inform you of the progress of the purchase agreement contract, including the satisfaction of all contingencies and conditions during the entire home buying process
  • Contact you after the closing to follow up on remaining details or service needs you may have after buying a home

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How do I get a pre-approval letter for a home loan?

A pre-approval letter is required when you make an offer to purchase a home for sale if you need financing for the purchase. We can refer you to a few reputable lenders for a pre-qualification or pre-approval appointment. Getting a pre-approval decision is free, and is a very important step in the home buying process. Meeting with a home loan expert will help you learn what you can afford and how much your monthly payments will be. The documents you need to apply for a mortgage include W-2 forms and federal tax returns for the last two years, the last two months’ bank statements, and information about any long-term debt such as car loans, etc.

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Why do I need a home inspection?

Getting a home inspection and termite inspection reveals the condition of the home for sale and alerts you to any issues with the property. The home inspection helps to ensure that you are making a quality investment when buying a home. Inspections reduce stress, offer peace of mind, and also reduce the potential for legal action in the future. Getting a home inspection when buying a home reveals any repairs or replacements that are needed. By knowing the condition of the home for sale upfront, you reduce the number of problems you may discover after you move in. You will also learn valuable information about the property, such as where the main shutoff valves to the utilities are located, how any features of the house operate and more!

It is very important to find a good home inspector, because choosing a sloppy home inspector could cost you thousands of dollars in repair and replacement costs. When choosing a home inspection company, consider how much experience do the inspectors have and how long have they have been in the business, the home inspection training they have had, and their membership in any professional home inspection organizations, such as American Society of Home Inspectors (ASHI) and National Association of Home Inspectors (NAHI). Home inspectors that are affiliated with professional organizations are serious about what they do, and know about all the new developments in their fields. Make sure the home inspector has Professional Liability Insurance (Errors and Omissions Insurance).

If you are buying a newly constructed home, a home inspection will help to offset the builder’s or contractor’s interest and reveal any shortcuts they may have made while building the new home for sale. For newly constructed homes, we recommend a “preclosure inspection”, which is a home inspection of the house before the drywall is installed. This home inspection for new homes gives you the opportunity to find and correct potential problems when they are much easier to fix, before they become more expensive.

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