FAQ's

A CMA is a competitive market analysis is what we use to determine the price range we suggest you list your home in. We compare size, features, bedrooms etc. to other homes in your area that have sold recently to determine the price range we suggest. 

An appraisal is when a licensed appraiser comes to the home and determines what the appraised value of the house is. This price is what your lender will use to determine if loaning the amount you need to purchase the home is a safe loan for them. 

While you never are required to do a home inspection we always recommend you do. We have a list of local inspectors we can provide you, or you can find your own. The inspector will go to the house (you are invited and encouraged to join for this step!) and they will take a closer look at appliances, roofs, the exterior, bathrooms etc to see if there is anything they would recommend be replaced or fixed. This is for your benefit and this information does not get provided to your lender or have any association with the appraisal. 

An EMD is an earnest money deposit, this is a check we will collect after an offer is accepted. This check is taken to the title office that we will be using for closing, here it is held in a non interest bearing account and the amount of this deposit is used towards your cash to close amount at closing. This deposit can be given to the property sellers if the buyer decides to back out of the deal not due to financing, inspection or appraisal issues. 

A pre approval letter is a letter that you get from a lender stating what price home you can purchase and what type of financing you will be using. You need to have a pre approval letter before seeing homes and writing an offer on a home. 

Before the day of closing your lender and title office will provide you with the amount of money you need to bring to closing, this is often referred to as your "cash to close" amount. If this amount is over $20,000 many title offices will require you to wire the funds to them (this will be discussed in depth before we ask you to do so, be careful when wiring money!) if this amount is less than $20,000 typically a cashiers check from your bank will work! You will also need to bring your drivers license with you to closing. 

If you are the seller and the buyer is gaining occupancy day of closing make sure to bring all keys and garage door openers with you. You will also need to bring your drivers license.