FREQUENTLY ASKED QUESTIONS

 
 

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.

There are several advantages when using a real estate agent to sell your home. These include, yet are not limited to - your listing being added to the Multiple Listing Service (MLS) so that large numbers of buyers will have access to the seller's home, The real estate agent will ensure that accurate screening of potential buyers has been completed, and the Agent will handle the details of negotiation. 

When is the best time to sell my home?

This question has no specific right or wrong answer, the best time to sell your home varies depending on the market. Most places will say that the best time to sell is during the Spring months, however at The Gina Padro Team we have also found that the more serious buyers are prepared to search during the Winter months, as well as having lower competition from other sellers. Every area varies, so we recommend taking the chance and letting us prove it can be done any time of year!

 

WHAT IS A COMPARABLE MARKET ANALYSIS (CMA)?

A CMA will be prepared for you for your first appointment with our listing agent from The Gina Padro Team. These are referred to as recently sold homes that are similar in size, location, and amenities to the home for sale. These properties help an appraiser determine the fair market value of a home, as well as helping the Listing Agent determine the best price for your home.

what are disadvantages of pricing my home too high?

Our real estate agents are highly experienced at pricing homes at the right price, the reason we price the way we do is to avoid:

  • Helping to sell similar homes that are priced lower.

  • Having your home on the market longer.

  • Losing market interest and qualified buyers.

  • Creating a negative impression of the property.

  • Having you lose money as a result of making extra mortgage payments while incurring taxes, insurance and unplanned maintenance costs.

  • A potential buyer facing appraisal and financing problems resulting from the inflated price.

WHAT does the real estate TERMINOLOGY mean?

The language or real estate can be intimidating, we’ve created a list of commonly used words to help you with your process!

 

WHAT IS A BUYER’S AGENT?

Buyer’s agents assist home buyers every step of the way to finding their dream home. We are determined to save you tons of time and money on the road to home-ownership and be at your disposal for any questions or concerns.

 

What does a buyer’s agent do?

  • Find the right property. After determining what our clients are looking for and what they can afford, we will schedule appointments to tour homes that fit the bill. We will also explain the ins and outs of various properties and neighborhoods to help our buyers decide which home is right for them by explaining the pros and cons of various options.

  • Negotiate the offer. As a buyer’s agent, we will advise our clients on an appropriate price to offer and present it to the seller’s agent. This is where our experience in negotiating deals can save you money and help you avoid pitfalls like a fixer-upper that’s more trouble than it’s worth.

  • Recommend other professionals. As an experienced buyer’s agent we are also able to refer you to reliable mortgage brokers, real estate attorneys, home inspectors, movers, and more. This can also help expedite each step of the process and move you to a successful sale much quicker.

  • Help overcome setbacks. If the home inspector’s report or appraisal brings new issues to light, we can advise you on how to proceed, and then act as a buffer between you and the sellers or their agent. If negotiations become heated or hostile, it’s extremely helpful to have an experienced professional keeping calm and offering productive solutions.

     

what is a buyer’s contract?

Once you agree to work with an agent, you will have to sign a contract called an Exclusive Buyer Agency Agreement outlining the agent’s services and compensation. This contract also means that this agent will be your sole representative and that you won’t work with other buyer’s agents.

What’s the difference between being pre-qualified and pre-approved for a mortgage? 

Pre-qualification: An informal determination by a lender or mortgage broker stating how much mortgage you can afford.

Pre-approval: A guarantee in writing by a lender to grant you a loan up to a specified amount.

 

what is my next step?

Whether you’re buying or selling a home contact The Gina Padro Team today! We offer excellent advice, extensive knowledge and practice the utmost customer care. We would be honored to help you during your home buying or home selling process!