MILLTEN
MILLTEN
How much down payment do I need to buy a home?
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Financing
The down payment requirement varies based on the type of loan. Conventional loans typically require 5-20%, FHA loans can be as low as 3.5%, and VA loans may require no down payment for eligible veterans. We recommend speaking with a mortgage lender to understand your specific options based on your financial situation and the type of loan you qualify for.
How long does the home buying process typically take?
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Process & Timeline
From offer acceptance to closing, the process usually takes 30-45 days. However, this timeline can vary depending on factors such as loan type, property condition, appraisal scheduling, and any contingencies in the contract. The home search itself can take anywhere from a few weeks to several months, depending on your criteria and market conditions.
What's the difference between a buyer's agent and a seller's agent?
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Agent Services
A buyer's agent represents the interests of the home buyer, helping them find properties, negotiate offers, and navigate the purchase process. They're typically paid through the seller's commission. A seller's agent (or listing agent) represents the property seller, markets the property, handles showings, and works to secure the best terms for the seller. One agent cannot fully represent both parties in the same transaction due to potential conflicts of interest.
What happens during a home inspection and who pays for it?
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Home Inspection
A home inspection is a thorough examination of a property's condition, including structural elements, electrical systems, plumbing, HVAC, and other major components. The inspection typically takes 2-4 hours and results in a detailed report. Usually, the buyer pays for the inspection, which costs between $300-$500 depending on the home's size. While not always required, we strongly recommend getting an inspection to identify any potential issues before purchase.
When should I sell my home to get the best price?
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Home Selling
While market conditions vary by location, homes traditionally sell best during spring and early summer when buyer activity is highest. However, factors like local market inventory, interest rates, and economic conditions often have a greater impact on sale price than season. We recommend analyzing your local market conditions and personal circumstances rather than focusing solely on timing.