Frequently Asked Questions

As a buyer agent, preapproval letter means getting an estimate of how much you are allowed to borrow from the lender. It also help your home search by eliminating homes you cannot afford. It will save your energy and time.

In general, you can expect it to take between 30 to 60 days to complete the home buying process. The hotter the real estate market, the longer it takes to buy a home.

A seller's market occurs when the demand for homes outpaces the available supply. One handy way to determing exactly when the market enters the "seller's phase" which the ratio of listings eventually sold over 60%.

A FICO score of at least 620 is required to qualify for a loan. The higher the credit score, the lower the interest rate.

Typically, the buyer does not pay the real estate agent's commission. Due to Real Estate Commissioner's rule has changed, the best way to confirm is to check the rule in your specific area as real estate regulation can vary by region.

For first-time home buyers, on average the down payment they often make as low as 3% to 5% on FHA loan or conventional loan with private mortgage insurance(PMI). Many first time buyers use these lower down payment options to enter the market. If buyers can make down payment to 20%, it will avoid additional expenses and reduce the loan balance.   

Earnest money demonstrates that you are serious about buying the home. Typically, this is from 1% to 2% of the home selling price.

A home inspection will reveal many potential problems and some of those can end up costing you a lot of money if they go undetected.

If you are getting a mortgage loan, your lender will require that the home be appraised to confirm your final mortgage amount.

Title insurance is issued by a title company. The title insurance basically gives you the peace of mind that nobody can claim this home that you are purchasing.

Condo are generally one level in complexes or buildings. In condo, you only own the actual unit but many facilities inside of the common area are covered by monthly HOA fees. On the other hand, a townhouse typically does not have many facilities, but the owners does not need to pay these fees and also own the land. 

It is possible to sell and buy simultaneously through what is called a "sale contingency." It means homeowner can sells the house while give offer to the new house that he/she wants to purchase.

We market your property through multiple ways including online such as MLS, Google Ads, Custom Web Pages. Also the traditional mothods like open houses and putting flyers to the neighborhoods. Our goal is to maximize visibility to reach more buyers quickly. 

Yes, I have experience with propertyies across Philadelphia which give me insight into local demand. While the time to sell can very, most homes typically sell within 30 to 90 days, depending on market conditions.

The market value of your home is determined by factors such as location, recent sales of similar properties, and current market trends. We use a combination of comparative market analysis and local market data to provide an accurate estimate.