FAQs Archive - Page 4 of 5 - The John Fincham Group

Q: How do I know when to negotiate and when to let go?

We can guide you, but you also need to decide how much you want a particular property and what you’re willing to accept to get it. You may want to let go when: A bidding war drives the price too high The appraised value of the home is below your offer A home inspection finds defects that would be expensive to repair The sellers are unwilling to make reasonable repairs You learn about homeowners association rules that won’t work for you

Q: What should I look for in a home warranty?inspection?

To choose a good home warranty, you and your agent should review: The home warranty company’s license with your state’s real estate commission The fine print – that’s where you’ll find exclusions and limitations What’s covered and what’s not The coverage limits – your repairs will only be paid for up to a specific level Service fees and deductibles How quickly service and claims are handled How contractors are vetted and what happens if you use your own Coverage differences between a basic warranty and enhanced warranty Online reviews You can always ask us for home warranty recommendations and advice.

Q: What should I expect to see in the contract?

Your John Fincham Group agent will explain the key points in your multi-page contract, such as: Accuracy of information, including the correct spelling of your name and the property address The effective date of the contract – important because your contingencies have time limits. A list of contingencies, such as that the sale depends on financing, an appraisal, a satisfactory home inspection and perhaps the sale of your current home. Property disclosure information from the seller, depending on your state laws. A complete list of what conveys with the property A list of required inspections, such as a home inspection and a pest inspection Information about when you can move in. In some cases, such as if your offer is contingent on the sale of your home, the seller may add a “kick-out” clause, which means that the seller could accept another offer if one is made before your home is sold.

Q: What is a counteroffer?

Sellers can accept your offer as is or they can make a counteroffer with an adjustment to some or all of your terms. You can accept or reject the counteroffer and make your own counteroffer. The contract is final once you and the sellers have agreed to all the terms. Your agent is essential when negotiating the terms of your purchase.

Q: What should I include with my offer?

We will have the most recent standard purchase offer forms that comply with state and local laws. The price Terms – such as a request for closing cost help or that the offer is subject to your obtaining financing and a home inspection Target date for closing Earnest money deposit – we will advise you about how big your deposit should be based on local customs and current conditions Request for final walk-through Time limit for the offer

Q: What should I look for when visiting homes?

Look beyond the staging and decorative items to see the features and fixtures that convey with the house. Check the condition of the home. Keep track with photos and notes. Consider possible home improvements you might want to make so you can research costs later. Don’t forget to check out the outside of the property and the neighborhood. Your Keller Williams agent has access to neighborhood insights and data to help inform your decision. Locate your commuter route, schools, shops, restaurants, parks and other amenities. If the property is a condo or located in a homeowners association, find out the fees and rules to see if you can live with them. The John Fincham Group will be your trusted partner for your home search.

Q: How many homes should I visit?

Sometimes buyers find their future home the first time out and others look at 50 homes before they see one that checks all their boxes. It’s a good idea to see at least a few alternatives so you have some points of comparison, but sometimes you just know a place is where you want to live.