Top Six Questions Asked by Buyers and Sellers

Lorraine Ryall

For nine years now, I have had the pleasure of being a full-time Realtor, and I have found buyers and sellers often ask the same questions.

No matter what the market conditions are, the questions have stayed the same. Here are the six questions most often asked.

Questions from Sellers

1. How do I sell my house for the highest price?
   This is the No. 1 question I am asked by sellers. Having a top local Realtor who uses professional photography and innovative marketing is a must. Next, you want to make an excellent first impression by getting the house ready for sale. Discuss with your Realtor what upgrades can be done that you can capture back in the price. Painting, cleaning, decluttering and sprucing up the yard may not necessarily increase your home’s value, but it will make your home look clean and inviting and appealing to buyers. Staging the home is so important and can make all the difference on how quickly you sell. Homes sold within the first 30 days are more likely to sell for list price or closer to the list price than those that sit on the market.
2. Should I do repairs before listing my home?
   I always suggest sellers repair those inexpensive items they easily can do themselves or have a handyman take care of before they list. Things like broken light fixtures, dripping faucets or broken faceplates make the home seem like maintenance was neglected. Doing little things before you list will leave buyers with the impression the house is well maintained. That being said, you don’t want to do extensive repairs. The buyer will have an inspection and will ask the seller to make certain repairs. Each buyer is different, and what one buyer would ask for, another might not. So, it’s better to wait and see what items the buyer requests. The seller is not obligated to make any repairs. This is a negotiation, and the purchase price and terms of the contract can determine how many repairs you are willing to do.
3. Will the buyers always have an agent with them when they are in my home?
   Yes, the buyer’s agent will show your home with their buyers. The agent’s information will be registered when she uses the lock box to enter your home. Your Realtor will be notified, through the lock box, as to who entered and when, as well as how long they were in the home. Buyers will be walking through your home, however, so make sure you lock away any valuables.

Questions from Buyers

1. With all the access to homes on the Internet, do I need a buyer’s agent?
   The short answer to this question is yes. Some online sources have partial or outdated information, and sites, such as Zillow, value homes using their Zestimate, which is more often than not tens of thousands of dollars off the true market value.

   Having your own Realtor means having someone who is taking care of your best interests and whose fiduciary responsibility is to you. Your Realtor will have the knowledge and expertise to help you navigate through the purchase contract, oversee inspections and negotiate on your behalf. There is so much more to buying a house than just putting in an offer. Your Realtor will be there to ensure everything goes as smoothly as possible. Best of all, it doesn’t cost you anything. There is no fee to the buyer to have his own agent.

2. Do I have to be pre-qualified?
   You should get pre-qualified before going out looking at houses for several reasons. Until you talk to a lender, you don’t know how much you can qualify for. It may be more or less than you think. The last thing you want to do is to go looking at homes and fall in love with your dream home only to find out you can’t afford it. Another reason is because you need to include the pre-qualification when submitting your offer to show the seller you are financially able to purchase the home. We are in a seller’s market and if you find the perfect home, you need to be ready to put in an offer immediately. If you have to wait to get pre-qualified, you may lose the home to another buyer. There are a lot of fees associated with purchasing a home. Talking to your lender upfront will also give you the information on how much it actually will cost you to purchase a home and all the fees involved.
3. I have a home to sell. Can I still write an offer on another home?
   If you can qualify for both mortgages at the same time without selling your current home and choose to do so, then, yes, you can write an offer without it being contingent on you selling your current home. However, most buyers need to sell their current home before they can purchase a new one. When you write an offer, it will be contingent on the sale of your home. So, if, for some reason, your home doesn’t close, you are not obligated to the purchase of the new one. In order to write an offer with a contingency, your home needs to be under contract. Some sellers may accept an offer without your home being under contract, but usually not.

If you are interested in buying or selling, or have any questions, please call me for a free consultation.

Lorraine Ryall has been a Multi-Million Dollar producer for the past nine years. If you are thinking of buying or selling and would like more information or a market analysis, please contact her at Lorraine@Homes2SellAZ.com, or call (602) 571-6799. Visit her website at Homes2SellAZ.com.