The Top 15 Questions Homebuyers Must Ask Before Buying

TL;DR — Buying a home moves fastest when you start with a focused buyer consultation, get pre-approved with a trusted lender, and then view available homes—some vacant, some occupied—through a dedicated team that schedules showings to minimize delays. Typical timelines run from 24-hour pre-approvals to offers being accepted within a couple of days, with closings usually around 30 days after a mortgage is in place, and most buyers complete the process in about 2–6 months. You can back out during a short due‑diligence period (often about 7 days) but may risk forfeiting earnest money if you withdraw without a valid reason, while financing contingencies protect you if a loan falls through. Prices are negotiable, repairs can be negotiated during inspection (with options like FHA 203(k) for renovations), and closing costs generally run 2–5% of the purchase price. Expect to pay for a home inspection (roughly $175–$350), consider title insurance for protection, and aim for a 20% down payment to avoid PMI, though there are exceptions for veterans or those with certain qualifying circumstances. Finally, compare lenders to find competitive rates and good service, and stay engaged with a reliable agent who will guide you through each step.

Buying a home is one of the biggest financial decisions you'll ever make, and it's normal to have a lot of questions. From the first steps in the home buying process to understanding closing costs, there's a lot to navigate.

In this comprehensive guide, we'll cover the top 15 questions that homebuyers must ask before making a purchase. Whether you're a first-time buyer or an experienced investor, these insights will help you feel confident and informed throughout your home buying journey.

Let's dive in!

1. Can I See This Home Right Now?

One of the first questions homebuyers often ask is whether they can immediately view a property. The answer depends on the home's current occupancy status.

Some homes are vacant and readily available for showings, while others are currently occupied by the sellers. If the home is occupied, I'll need to coordinate with the sellers to schedule a convenient time for you to view the property.

I have an entire team that works with me, and one of my staff members is dedicated to scheduling showings 40 hours per week. This ensures we can get you into homes as quickly as possible, without any delays. Contact me today to get started!

2. What Are the First Steps in Buying a Home?

The first step in the home buying process is to schedule a one-on-one buyer consultation with me. During this 30-minute session, we'll discuss your needs, expectations, and goals for your new home. I'll also provide you with market data, interest rate information, and other crucial details to help you prepare.

After our consultation, I'll refer you to a trusted local lender who can get you pre-approved. This pre-approval letter demonstrates to sellers that you're a serious, qualified buyer - which can give you an edge in a competitive market.

3. How Long Does It Take to Buy a Home?

The timeline for buying a home can vary, but here's a general overview:

• Pre-Approval: You can typically get pre-approved in as little as 24 hours, depending on the lender.

• Offer and Contract: Once you find a home you want to purchase, we'll submit an offer. The seller then has up to 48 hours to accept or decline.

• Closing: If your offer is accepted and you're using a mortgage loan, the closing process usually takes around 30 days.

In total, the average homebuyer takes between 2-6 months to go from start to finish in the home buying process. This includes the time spent searching for and touring properties.

4. Can I Back Out of Buying a Home?

Yes, you can back out of buying a home, but there are some important considerations:

• Due Diligence Period: I typically recommend a 7-day due diligence period, during which you can have the home inspected and negotiate any necessary repairs with the seller.

• Earnest Money: The earnest money you put down as a show of good faith can be forfeited if you back out after the due diligence period without a valid reason.

• Financing Contingency: If your financing falls through for reasons outside of your control (e.g., the home doesn't appraise for the purchase price), you can typically back out and recoup your earnest money.

It's important to work closely with me throughout the process to understand your rights and obligations as a buyer.

5. Are Home Prices Negotiable?

Yes, home prices are generally negotiable - that's why you've hired me as your agent! I'll work hard to negotiate on your behalf to ensure you get the best possible deal on both the home price and any associated closing costs.

The level of negotiability depends on factors like how long the home has been on the market. Homes that have been listed for less than 14 days typically have less room for negotiation, while homes on the market for longer periods may be more open to offers below the asking price.

6. Will the Seller Fix Up the Home for Me?

Whether the seller will make repairs or upgrades to the home is something we can negotiate during the inspection period. Most listings don't specify that the home is being sold "as-is," so there's often room to request that the seller address certain issues.

If the home needs more significant work, an FHA 203(k) loan may be a great option. This loan allows you to finance the home's purchase price plus the cost of renovations into a single mortgage.

7. How Does My Real Estate Agent Get Paid?

Real estate agents typically earn a commission, which is a percentage of the home's sale price. In our area, the standard commission is 3% for a resale home and 2.5% for new construction.

However, some agents may offer to reduce their commission, especially if they don't have to do much to show the home or be involved in the process. While this can save you money, it's important to work with an agent who is fully committed to representing your best interests.

8. How Much Will I Pay in Closing Costs?

Closing costs can range from 2% to 5% of the home's purchase price, depending on factors like your loan type and credit score. These costs can include:

• Appraisal fees

• Inspection fees

• Title insurance

• Lender fees

• Escrow fees

• Attorney fees

You may be able to negotiate with the seller to have them cover some of these closing costs, but it's ultimately up to their discretion.

9. What Is Earnest Money?

Earnest money is a deposit you make to the seller as a show of good faith when you submit an offer on a home. Typically, the earnest money deposit is 1-3% of the home's purchase price.

This money is held in escrow and can be returned to you during the due diligence period if you decide not to move forward with the purchase for a valid reason. However, if you back out of the deal without a valid reason after the due diligence period, the earnest money may be forfeited to the seller.

10. What Is Title Insurance, and Why Do I Need It?

Title insurance is a policy that protects you from potential issues with the home's title, such as undisclosed liens, encroachments, or ownership disputes. While a title search is conducted before closing, title insurance provides an extra layer of protection in case something is missed.

The cost of title insurance is typically around $1,000, but it's a small price to pay for the peace of mind it provides. I always recommend that my clients purchase title insurance, even for new construction homes, to ensure they're fully protected.

11. How Can I Save Money When Buying a Home?

There are a few key ways to save money when buying a home:

1. Shop Around for Lenders: Compare interest rates and fees from multiple lenders to ensure you're getting the best deal.

2. Negotiate the Purchase Price: I'll use a comparative market analysis to help you make an informed offer that's below the home's true market value.

3. Negotiate Closing Costs: In addition to the purchase price, I'll also negotiate with the seller to have them cover some or all of your closing costs.

By taking these steps, you can potentially save thousands of dollars throughout the home buying process.

12. How Much Does a Home Inspection Cost?

The cost of a home inspection can vary, but in our local area, you can expect to pay:

• $175 - $350 for a standard inspection

• $400+ for a larger or more complex home

The price can also depend on factors like whether the home has a crawl space or slab foundation, as inspectors may charge more to thoroughly examine the home's structure.

While the inspection cost is an additional expense, it's an essential step in the home buying process. I always recommend that my clients get a professional inspection, as it can uncover issues that could end up costing you far more down the line.

13. Who Pays for the Home Inspection?

As the buyer, you are responsible for paying for the home inspection. This is considered part of your due diligence in the home buying process.

While you can try to negotiate with the seller to cover the inspection cost, this is not a common practice. In our state of Georgia, the "buyer beware" principle applies, so the responsibility falls on you as the buyer to thoroughly inspect the home before making a purchase.

14. How Much Should I Put Down?

The recommended down payment amount can vary depending on your financial situation and loan type. However, a 20% down payment is generally considered the ideal target, as it allows you to avoid paying private mortgage insurance (PMI).

That said, with current market conditions, a 20% down payment may not always be feasible. If you're a veteran or have a disability rating of at least 30%, you may be able to qualify for a 0% down payment loan and avoid PMI altogether.

Ultimately, the right down payment amount for you will depend on your specific circumstances. [Work with my team to explore your options and determine the best strategy for your home purchase.]

15. How Do I Find a Good Lender?

When it comes to finding a reputable lender, I recommend starting with a Google search for the top-rated loan officers in our area. Then, reach out to a few of them, interview them, and compare their offerings to find the best fit.

Some key things to look for in a lender include:

• Competitive interest rates and fees

• Responsive and communicative customer service

• Experience working with buyers in our local market

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Remember, I'm here to guide you every step of the way. [Contact me today] to get started on your home buying journey!

Frequently Asked Questions (FAQ)

Can I see this home right now?

It depends on whether the home is vacant or occupied. Vacant homes can usually be shown right away, while occupied homes require coordinating with the sellers. A dedicated team handles showings (about 40 hours per week) to minimize delays.

What are the first steps in buying a home?

Start with a 30‑minute buyer consultation to discuss needs, goals, and market data, then obtain a lender pre‑approval to show you’re a serious buyer and strengthen your offer.

How long does it take to buy a home?

Pre‑approval can take as little as 24 hours, offers are typically reviewed within 48 hours, closing on a mortgage often takes about 30 days, and most buyers complete the process in roughly 2–6 months.

Can I back out of buying a home?

Yes, but there’s a 7‑day due diligence period in which you can inspect and negotiate; beyond that, earnest money can be forfeited if you back out without a valid reason, though financing contingencies may allow withdrawal if the loan falls through.

How much should I put down?

A 20% down payment is generally ideal to avoid PMI, but it isn’t always feasible; there are options like 0% down for veterans or qualifying individuals, and the right amount depends on your finances—your agent can help you determine the best strategy.