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Uncovering the Essentials: Q&A for Home Buyers from an Insider's Perspective

Writer's picture: Mickey SilvaMickey Silva


What can I afford?


The first step is to figure out your budget. This depends on your income, current debts, and the down payment you can make. I always recommend speaking with a mortgage lender early on. They’ll help you understand how much you can afford, which is key to setting realistic expectations before we start house hunting.


What is the mortgage process like?


The mortgage process can feel complex, but I’ll guide you through it. First, you’ll choose between different types of loans, like fixed-rate or adjustable-rate mortgages. Depending on your situation, you might qualify for specialized loans, like FHA or VA loans. A lender will review your finances, and together we’ll secure the best loan terms possible.


What’s the current housing market like?


Market conditions are always changing, and I keep a close eye on trends in **Cumberland** and **Lincoln**. I’ll give you up-to-date information on whether it’s a buyer’s or seller’s market, how home prices are trending, and what interest rates look like. This will help us make smart decisions about timing and offer strategies.


How long does it take to buy a home?


Typically, it can take 30-60 days to close on a home after your offer is accepted. But the time it takes to find a home that fits your needs can vary. It might take a few weeks or a few months, depending on the market and how specific your requirements are. We’ll work at your pace.


What should I look for in a home?


I’ll help you assess the essentials: location, condition, and potential resale value. You want to find a home that fits your current needs while also thinking long-term. We’ll look out for any red flags, like structural issues, but also identify what makes a home stand out in terms of investment potential.


What’s included in the home purchase?


What comes with the home can vary. Appliances, for example, might be included, but not always. We’ll carefully review the listing details to make sure you know exactly what’s included. If you want something like a washer and dryer to be part of the deal, I’ll negotiate that for you.


What are closing costs, and how much will they be?


Closing costs are the fees and expenses that come with finalizing a home purchase. These can range from 2-5% of the purchase price and cover things like loan origination fees, appraisal fees, and title insurance. We’ll review an estimate from your lender so you know what to expect, and I’ll help negotiate who pays for what—whether it’s you or the seller.


Do I need a home inspection?


In the competitive markets of the last couple of years, waiving inspections was sometimes necessary to get an offer accepted. However, the market has shifted, and now it's more possible to include a home inspection in your offer. While skipping an inspection can help your offer stand out, it's a good idea to do one if possible for peace of mind. If you choose to proceed, I have trusted inspectors I can recommend.


How much should I offer on a home?


We’ll look at comparable homes in the area to determine a fair offer price. Depending on the market conditions and competition, I’ll guide you on whether to offer more, less, or the asking price. My local knowledge of **Cumberland** and **Lincoln** gives us an edge in making smart offers.


What happens after my offer is accepted?


Once your offer is accepted, we’ll move into the closing phase. This includes securing financing, scheduling the home inspection (if applicable), and completing any contingencies. I’ll be with you every step of the way, coordinating the process to ensure we meet all deadlines and get to the closing table smoothly.


Buying a home is one of the most significant decisions you’ll make, and having the right guidance makes all the difference. From understanding your budget to navigating the mortgage process and closing the deal, I’m here to ensure you feel confident every step of the way. Whether you’re buying your first home or upgrading to something new, my goal is to make your experience as smooth and stress-free as possible.

If you have more questions or are ready to take the next step, don’t hesitate to reach out. Let’s work together to turn your homeownership dreams into reality!

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