Buying a home can be a simultaneously exhilarating and scary experience. As one of the largest purchases a person will make in his or her lifetime, it’s a given—and imperative—to ask questions as the buyer proceeds through the whole process. With that in mind, what are some of the most common questions real estate agents are asked, and what are the responses?
One of the most typical questions is how much home can a buyer afford. There are several factors that will influence this, from a person’s income to their financial obligations and creditworthiness. Agents suggest that a buyer should determine this information prior to beginning their shopping for a home.
Another question is whether a buyer can purchase a home as well as sell their current one at the same time. Agents say it is feasible but also risky. There is the possibility that a buyer may purchase a home before their current one is sold, leading to a potential overextending of finances. On the other hand, selling before buying could mean having to rent a place in the meantime. There is the option to add what’s called a “sale contingency’ in a contract, stating that a home will only be bought if the current one is sold, but a seller must agree to this.
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