FAQ About Kentucky Real Estate
Is this a good time to sell?
It is seriously a GREAT time to sell. Interest rates are at historic lows and the inventory of houses has never been lower.
What is “sellers market?”
A sellers market is one where houses are in demand. That usually means house are selling fast so buyers need to move fast and make strong offers.
How long does it take to buy a home?
Houses usually close between 30-45 days after your offer has been accepted.
Can I find out how much my house is worth and then decide if I want to sell it?
Yes. I can do a free market analysis and give a you good estimate of what you can expect your house to bring.
What is escrow money?
When you make a written offer on a house that is the money you put in escrow with your realtor to insure that you do not change your mind about buying the house. It is usually about 1-2%.
Why should I get a realtor?
Realtors can save you from lots costly mistakes and make the process much easier.
Should I get a home inspection?
YES! You need to know everything you can about the house you are buying and your lender will require it anyway. The buyer gets the home inspector and so the inspector works for the buyer, not the seller.
What is a home disclosure?
That is a document that tells you everything the seller knows about the house. Once you make an offer you cannot require the seller to fix anything they disclose. Very important.
How long can a seller take to accept or reject my offer?
The deadline is specified in the purchase offer. The realtor will write that in. Usually 24 hours is sufficient.
Should I sell my home before I buy a new one?
That’s a tricky question in this market. Normally, yes, and your lending institution may require it. But when the inventory is low it works better for some people to buy a house and then sell their current one. You just have to realize if it doesn’t sell fast you will be making two mortgage payments until it does. It all depends on your financial situation. In this market, I tell people to buy first if they can.
Can I talk to you even if I want to wait before I buy or sell?
Absolutely. No pressure. We can make a plan if you want but you don’t have to do anything until you are ready.