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Buyers Questions

Q: What does it mean to be Pre-Qualified (or pre-approved)?

A: To be pre-approved means that you went to the bank and they agreed to an amount that they are willing to loan you based on your credit, income and existing funds. Different loans have different requirements. Talk to your banker to see what you qualify for. Pre-qualification is the first step to buying a home.

Q: What is the benefit of having an inspection done?

A: An inspection is when a licensed inspector looks over an entire home and points out any problems. This can include anything from a broken facet to cracks in the foundation. If you purchase a home without an inspection, you are liable for any future problems that arise. Besides that, many loans have requirements that have to be met before the bank will fund the loan. An inspection shows any problems that might affect the loan before the Appraisal. This way, you can work with the sellers to find a solution within the Inspection Period.

Q: What is the Inspection Period?

A: The inspection period is a period of time after a home is under contract where the buyer has an inspection done and then has to write up an Objection Addendum. This addendum is how you bring up any concerns you have about the home. In this, you can ask the seller to fix these issues or help you pay for them. The buyer and the seller must reach a solution by the resolution deadline stated in the contract. That deadline concludes the inspection period.

Q: What is an Appraisal?

A: An appraisal is when the bank inspects your home to see if it is worth the amount of the loan. This value can and does vary based on the current market and the amount of competing offers. If the appraisal does not equal the value of the loan, the buyer can ask the seller to pay the difference, they can pay the difference themselves or they can back out of the contract.

Q: What does it mean to be Under Contract?

A: When an offer is presented to a seller and the seller accepts the offer, the buyer and the seller are then under contract. Not every offer is accepted, though. The seller can reject the offer or counter with their own offer. Once under contract, though, a home is not yet sold. A contract can be released for multiple reasons. A buyer can back out based on funding or inspections without losing their earnest money. Either buyer or seller can back out at any time at risk of losing the earnest money. 

Sellers Questions

Q: How do I decide how to price my home?

A: One way to decide is to have a Comparative Market Analysis (CMA) done on your home to see the value based on the other houses in your neighborhood. Many realtors will do these for you for free. This CMA will give you an idea about where to price your home but the choice is yours. When deciding though, you should take into account the risks of not pricing your home correctly. Overpricing your home can be very detrimental in the sale of your home causing you to lose time and money.

Q: Why should I use a realtor?

A: There are so many reasons that I hope I can cover them all.

1. Pricing. You could lose money by selling your house for less than its worth without the help of a realtor's knowledge of the current market. This is many times much more than the cost of a realtor's service.
2. Advertising. The majorities of buyers find homes on the Internet so if you've got your home on Zillow, Realtor.com or Homes.com, good job! But this is only one of many platforms. The next highest place buyers look is though a realtor. The MLS gives realtor a view of any house available as soon as it happens... except if the home is not listed. They are unable to point their clients in your direction. Besides that, we advertise on the rest of the platforms as well. With the help of my assistant, I advertise on Facebook, Instagram, Twitter, Pinterest, all of the real estate platforms like Zillow, Realtor.com and Homes.com as well as in the local newspapers, websites and magazines. You home would be on this website as well as our company's, ConceptZHomeandProperty.com.
3. Paperwork. While title companies will do some of paperwork, most of it is left to you. This makes the process much more confusing and stressful than is necessary since we are here for that reason entirely. Our forms were created by the Wyoming Association of Realtors, making them up to date, consistent, and within all guidelines. As realtors, we are familiar with each form and can explain them in-depth.
4. Negotiations. Real estate agents have years of experience to help you negotiate the best price for your home. That mean more money in your pocket in the end.
5. Problems. With every transaction, problems arise. Realtors are trained help solve those as quickly and inexpensively as possible. We are a listening ear and as often as possible, a miracle worker. We use our past experiences and local contacts to make your transaction run as smoothly as possible. 
6. Equipment. Although we don't have much more than you technology-wise we do have one time- and money-saving service. Electronic signature can mean the difference of an expensive trip or an the click of a mouse. While this is available to everyone, many people do not want to take the time or spend the money it takes to set these programs up. But for us and our clients, they are freely available. 

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