Buyer FAQs
What is the Right to Represent form?
The form has been a “best practice” for several years and has always been a used by Haefer Homes. As of August 2024, the Department of Justice and the National Association of Realtors® have made a representation form a requirement prior to showing a house. Click here to visit our FAQ page dedicated to this new requirement.
Why should I buy a home with Haefer Homes?
At Haefer Homes, we prioritize your needs, providing personalized guidance and expert advice throughout your home-buying journey. With our local expertise and faith-driven values, we help you find a home that fits your lifestyle and budget.
How do I get pre-approved for a mortgage?
Pre-approval involves submitting financial documents to a lender who will assess your creditworthiness and determine how much you can borrow. There are different lenders that are suitable for different situations. We can connect you with trusted lenders who we know will serve you the best.
How much house can I afford?
Your budget depends on factors like your income, savings, debts, work history, and credit score. We’ll help you evaluate these elements to find homes within your price range.
Pro tip: you can get a mortgage without a credit score utilizing Manual Underwriting.
What’s the difference between pre-approval and pre-qualification?
Pre-qualification gives you an estimate of how much you might borrow, while pre-approval provides a more concrete figure and strengthens your offers by showing sellers you’re serious. Remember, go for the A-score (pre-Approval).
How do I know which neighborhood is right for me?
We offer insights into local neighborhoods, including schools, amenities, commute times, and community vibes, helping you find a location that fits your lifestyle.
What’s included in a buyer’s agent’s services?
As your buyer’s agent, we handle property searches, schedule showings, access to on and off-market homes, negotiate offers, and guide you through inspections and closing—ensuring a smooth and successful purchase.
Do I need a home inspection?
Depends. A home inspection helps identify potential issues with the property. We recommend professional inspectors to ensure your investment is sound and to avoid unexpected expenses. However, buying without an inspection may be the detail that gets you the Win during a bidding war.
How much do I need for a down payment?
The typical down payment ranges from 3% to 20% of the home’s price. The more the better, but various loan programs offer lower down payment options, which we can help you explore. For example, our First Time Home Buyer option and the USDA program allow buyers to get into a home with as little as $0.00 down.
Remember, a down-payment is different than Earnest Money, which is typically $500 to 1% of the purchase price.
How much do I need to get into a home?
Upfront costs typically include your down payment of 3% or more, closing costs (2% to 5% of the purchase price), and additional expenses like home inspections and appraisals. We’ll provide you estimate these costs to ensure you’re financially prepared.
What are closing costs, and how much should I expect?
Closing costs include fees for the lender, title company, and other services involved in the transaction. These typically range from 2% to 5% of the purchase price. We provide estimates so you can budget accordingly.
How long does it take to buy a home?
The timeline varies, but it typically takes 30 to 60 days from offer acceptance to closing. For cash purchases, expect 2 weeks. We work diligently to keep the process on track and meet your goals.
What if I’m buying and selling at the same time?
Coordinating a sale and purchase requires planning and unique paperwork. We specialize in aligning timelines and strategies to make the transition as smooth as possible.
Can I back out of a purchase agreement?
Yes, under certain conditions such as unmet contingencies (e.g., inspection or financing). We’ll help you understand the terms and protect your interests throughout the process.
For more personalized answers or to start the buying process, contact us at 434-944-6982 or visit www.haeferhomes.com. Let’s work together to achieve your real estate goals!