Buying Process FAQ

Answers to some of the most common questions you may have about buying a home.

How do we determine what we can afford?

In order to determine what you can afford you must first look at the total costs of purchasing a home and moving into it. Once you have thoroughly assessed the costs you must work with a mortgage broker to determine the financing terms and options that are right for you.

Do we need a pre-approved mortgage before we start to look?

Having a pre-approved mortgage tells you exactly what you can afford to spend and makes the process of looking more focused and successful. You are also protected from interest rate changes while you are looking.

Do I really need to use an agent? I can look at for houses myself. is a great research tool as you begin your search. It can help you narrow down choices and explore different communities and their respective markets.

A real estate agent is a professional who can save you time and trouble. And possibly even a lot of money. At VHM, we have the home buying experience most people lack. We know all of the steps and are good negotiators who will work on your behalf. When we work with a buyer, we help you to:

What is a buyer representation agreement and why do I have to sign one?

A real estate brokerage representing a buyer must do what is best for the buyer. A written contract, called a buyer representation agreement, creates an agency relationship between the buyer and the brokerage, and establishes buyer representation. It also explains services the brokerage will provide, establishes a fee arrangement for the realtor's services and specifies what obligations a buyer may have.

Typically, buyers will be obliged to work exclusively with that brokerage for a period of time. Confidences a buyer shares with the buyer's agent must be kept confidential. Although confidential information about the buyer cannot be disclosed, a seller working with a buyer's agent can expect to be treated fairly and honestly.

How much time will looking for house take?

This is dependent on what you are looking for and the market. We plan visits for times that are convenient to you and are sensitive to the daily demands of family life.

How do we make an offer?

Once you have found a home you want to buy, your agent will provide guidance on current market conditions, price suggestions and will prepare your offer. The offer will contain the following:

Your agent will then present your offer to the seller and their agent. The seller can elect to accept your offer, to counter your offer with an offer of their own or reject the offer. This process of going back and forth can continue until an agreement is reached or one of you ends the negotiations.

Do I need to hire a house inspector?

Having the property inspected by a qualified house inspector will ensure you get no surprises later on. The house inspector will thoroughly assess every aspect of your new home and provide you with a detailed report and recommendations.

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