Buying Real Estate FAQ's
Making a real estate purchase is a BIG decision, whether you've done this before or haven't. It's important that you feel comfortable every step of the way. As one of the best real estate agents at the Lake of the Ozarks, I can help you through the buying process. Here are a few answered frequently asked questions in regard to buying real estate.
Q: What’s acceptable as a fair offer price to a seller?
A: A good way you can think about this is a property is only worth what you are willing to pay for it. Everyone can have a different motivation for selling, so the percentage of how low you can go on an offer price is going to differ with each seller. Typically, if you offer 5% lower than the asking price, you’re not going to ruin a deal, but just keep in mind, you don’t want to make too low of an offer because that can backfire. This is where the guidance of an experienced real estate agent comes in handy.
Q: What do people mean when they say, “closing costs”?
A: Closing costs are expenses that are in addition to the actual price of the property. A few good examples of closing costs can be:
• Appraisal fees
• Title insurance
• Surveys
• Property taxes
• Credit report fees
Q: How do I know if it’s time for me to buy or keep renting?
A: There are factors to consider when choosing to buy and stop renting. Check out the current interest rates on mortgages. If it turns out paying for a mortgage is actually cheaper than renting, than it may be time to consider buying. Also, you need to determine if you are prepared to stay in that area for a long time. If you’re only wanting to stay in that area for a few years, then buying may not be the right decision for you. In addition, you need to consider all of the responsibilities that come with owning a home. For example, if your furnace suddenly goes out, are you financially ready to take care of that? It’s a good idea to have an emergency fund when owning a home to take care of maintenance issues like this.
If you have more questions about buying real estate, I am happy to answer them for you. Having an experienced real estate agent in Camden County speak and act on your behalf during the buying process can help you in a number of ways. I can educate you about the current real estate market and negotiate aggressively to try and get you the best price. I can address all your questions and concerns and treat you as a valued friend. I am very passionate about what I do, and my joy is helping people find their perfect Lake lifestyles. To view some of the best real estate listings at the Lake of the Ozarks, visit my website at www.JudiattheLake.com. If you have a question about one of my listings or would like to see one, call me at 573-480-7376.
Buying Real Estate FAQ’s
Q: What’s acceptable as a fair offer price to a seller?
A: A good way you can think about this is a property is only worth what you are willing to pay for it. Everyone can have a different motivation for selling, so the percentage of how low you can go on an offer price is going to differ with each seller. Typically, if you offer 5% lower than the asking price, you’re not going to ruin a deal, but just keep in mind, you don’t want to make too low of an offer because that can backfire. This is where the guidance of an experienced real estate agent comes in handy.
Q: What do people mean when they say, “closing costs”?
A: Closing costs are expenses that are in addition to the actual price of the property. A few good examples of closing costs can be:
• Appraisal fees
• Title insurance
• Surveys
• Property taxes
• Credit report fees
Q: How do I know if it’s time for me to buy or keep renting?
A: There are factors to consider when choosing to buy and stop renting. Check out the current interest rates on mortgages. If it turns out paying for a mortgage is actually cheaper than renting, than it may be time to consider buying. Also, you need to determine if you are prepared to stay in that area for a long time. If you’re only wanting to stay in that area for a few years, then buying may not be the right decision for you. In addition, you need to consider all of the responsibilities that come with owning a home. For example, if your furnace suddenly goes out, are you financially ready to take care of that? It’s a good idea to have an emergency fund when owning a home to take care of maintenance issues like this.
Hire Judi Cloyd as Your Buyer’s Real Estate Agent!
Judi Cloyd, Pinnacle Real Estate Partners
5780 Osage Beach Pkwy Ste 112
Osage Beach, MO 65065
Mon-Fri 8:00-5:00
Weekends by Appointment
573-480-7376 : Judi@JudiAtTheLake.com
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