Northern KY Homes for Sale  -  Cathy Miles with Exit Realty Florence, KY.

As a full time Realtor® in Northern KY, my goal is to help buyers & sellers successfully navigate the ever changing currents of the real estate market in Boone County, including Florence, Burlington, Union and surrounding areas.  Call today and learn how the Miles Home Team can make a difference in either the sale of your current home or the purchase of your next one.  Just ask Cathy… 513.673.7726     

Some buyers are just plain shy when it comes to asking simple questions, but when they do, I always get these same questions over and over. 

  1. I can find the homes I like on the internet, but I really don't know what to do next.  
    Here's the real process, and if you don't follow it, you may not get the home you want!  The very first thing you need to do is actually talk with a lender of your choice if you are going to get a loan.  The item you are after is a "pre-qualification" letter, sometimes referred to as a pre-approval letter, though that each of those words actually mean something different.   Try bidding on a home without a pre-qualification letter and you may possibly soon find out that a pre-qualified buyer just took it from under your feet!   Lesson #1 is follow the steps:  (1) Get pre-qualified FIRST  (2) View homes with a good, informative, communicative Realtor® (3) Access all the market stats and the community your home is located in with your Realtor® (4) Place your offer (5) Be present during your home inspection and ask a lot of questions and (5) Make sure you are getting all the documents your lender needs from you in a timely manner. A good Realtor® can walk you through the process while a good lender can make the dream a reality.
     
  2. I don't think I have a great credit score at the moment, but I am interested in looking at a home.
    Lesson #1 again is to follow the steps. (1) Get pre-qualified.
     
  3. But I'm afraid I won't be pre-approved. 
    First of all, I'm glad that people call me and at least tell me their fear up front.  After all, step #1 is to get pre-qualified, but buyers seem to hesitate as soon as they hear that.   It's almost like putting a huge roadblock in front of them.  However, if you can just get going and make a call to a lender, the action itself can carry you through the fear.  It doesn't matter that your credit is dinged...know why?  Because knowledge is power and it is more important to know exactly where you stand at this very minute.  What most buyers don't know is that many lenders will work with you to repair your credit and let you know just how much longer it may take to get you to a point where they CAN lend to you.  Wouldn't you like to know that, at least?  It's a free consulation in most cases and you'll walk away a more informed buyer!
     
  4. Why not just call each Realtor® on each sign I see in front of each home that I am interested in viewing? 
    First of all, Realtors® like to have listings so that the signs they put up in the yards get buyers to call them direct.  When you call that Realtor® they will work hard to keep you as a buyer, whether you actually see that specific property or not.  This is an important moment for the buyer, as you should size up your first communication with the Realtor® and decide whether this is a Realtor® that you would feel comfortable communicating with and one that displays a good knowledge of the local market.  However, calling a different Realtor® each time you see another property is actually not in your best interest, even though you may think so.  The Realtor® you call listed on the front yard sign, actually represents the seller, so by trying to negotiate your contract on that property, you have put the Realtor® into a "dual" role, now representing both sides of the contract.  There are laws governing how a Realtor® is to proceed on such transactions so that confidentiality is maintained on both sides of the transaction, but it isn't hard to see the benefits of having an outside Realtor® negotiate in your best interest for the property.
     
  5. How much do I pay an agent and when do I pay them?  
    This answer is always music to my buyer's ears.  Very simply, it is the seller who pays the Realtor's® commission, not the buyer. There are exceptions, however.  You will know when you run into the exception because the Realtor® will address the exception right up front with you.  In fact, you'll sign a contract stating that if the seller's paid commission % doesn't add up to a certain amount, you'll pay your Realtor® the difference.  This is used primarily to insure that on smaller cost properties, that the brokerage is not doing all the work for little pay.
     
  6. Can my parent's help pay my down payment for me?
    Yes they can, but you must talk with your lender to confirm, as there are conditions that must be met.
     
  7. Can't I just contact the seller directly for the home I am interested in?
    If the property is listed through a Realtor®, you would not be calling the owner directly, as they are under contract to have the listing Realtor® sell their property. Best to hook up right away with a knowledgeable Realtor®  that can represent your best interests
    .
  8. How long does it take to close a deal on a home?
     If you are getting a loan, allow 35-45 days AFTER a signed contract is in place. However, there are circumstances that can extend that time period. Cash buyers can close in less than half that time. 
     
  9. Do I ride with the Realtor® when we are looking at homes?
    It is best to meet the Realtor® at the first location and follow him/her in your own car to the next location.
     
  10. Can I get out of a contract?
    Most contracts will always have 2 contingencies that allow you fall out of the contract.  The first one is a home inspection.  If you do not like what you find out about your home during the inspection, then you will inform the seller of the repairs that you would like to have completed before closing.  If the two parties cannot agree on the repairs, then you have the right to exit the contract.  

    The second contingency is the financing contingency.  If the bank finds out, after reviewing all the information and documents you provide them during the course of their processing (along with any new info that comes along during the underwriting stage) that they cannot lend to you because you do not meet all the bank's guidelines, then you must fall out of the contract simply because the bank cannot lend to you.

Well, that's the top 10 questions I hear over and over.  Hope some of that helps you.  Please know that it is very common to get tons of questions from buyers during the buying process, so you can see why it is extremely important to match up with an informative Realtor®  to help you navigate this incredible market.  And speaking of the market, check out these great deals in some of our local markets...

Florence       Burlington       Hebron        Independence      Union       Ft. Thomas

Ft. Mitchell     Ft. Wright      Covington     Taylor Mill        Elsmere/Erlanger

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Northern KY Homes for Sale  -  Cathy Miles with Exit Realty Florence, KY.

As a full time Realtor® in Northern KY, my goal is to help buyers & sellers successfully navigate the ever changing currents of the real estate market in Boone County, including Florence, Burlington, Union and surrounding areas.  Call today and learn how the Miles Home Team can make a difference in either the sale of your current home or the purchase of your next one.  Just ask Cathy… 513.673.7726