Residential Listings
Waterfront Listings
Land/Lot
Commercial Properties
Rentals
Open Houses
New Construction
Relocation
Financing/Settlement
Virtual Tours
Schedule a Showing
Request an Agent


FAQs


  • Can I sell my house myself?
     
  • When choosing a RealtorŪ, how do I know what all of those abbreviations mean?
     
  • How can I prepare my house for sale?
     
  • Should I fix my house up before it goes on the market?
     
  • Should I make any major home improvements?
     
  • What is "fair market value," and how do I determine mine?
     
  • What should I expect from an open house?
     
  • What if I can't sell my old house before I have to move?
     
  • What are the advantages of using a real estate professional to help me buy a home?
     
  • How do I begin the process of looking for a home?
     
  • How do I know how much home I can afford?
     
  • How does buying compare to renting?
     
  • What should I think about when I'm deciding which community I want to live in?
     
  • Where can I get information about local schools?
     
  • If I'm moving a considerable distance, is there any way I can screen homes before I start traveling?
     
  • Do I need a home inspection?
     
  • Real estate listings and ads seem to have a language all their own. What do all those abbreviations mean?
     
  • What is "earnest money" and how much do I need?
     
  • What will happen on closing day?
     



  • Q.
    Can I sell my house myself?
    A.
    Many people believe they can save a considerable amount of money by selling their home on their own. In order to do this, you need to realistically assess exactly what's involved. Some key items involved are pricing your house, determining whether or not a buyer is qualified, developing and paying for advertising, obtaining basic real estate guidelines knowledge to prepare a real estate contract and addendums, and coordinating the details of a closing. These are serious responsibilities to take on and a mistake may cost you the money you're trying to save. O'Brien Realty sales professionals are trained with the knowledge and skills needed to sell your home quickly and with your best interest in mind.



    Q.
    When choosing a RealtorŪ, how do I know what all of those abbreviations mean?
    A.
    The letters after a RealtorŪ name stand for RealtorŪ designations. Realtor'sŪ are required to take a certain amount of continuing education classes each year to maintain their real estate license. Common Designations

    CRB (Certified Real Estate Brokerage Manager) The CRB program trains brokerage owners and managers to meet personal and professional challenges.
    CRS (Certified Residential Specialist) CRS designees complete advanced study in residential listing and selling to meet established production levels.
    GRI (Graduate, REALTORŪ Institute) The REALTORŪ Institute provides residential real estate professionals with a solid base of information for their practice.



    Q.
    How can I prepare my house for sale?
    A.
    The selling process usually starts months before a property is actually put on the market. It is a good idea to look at your home through the eyes of a potential buyer. This will help you decide what needs to be cleaned, painted, repaired or tossed out.



    Q.
    Should I fix my house up before it goes on the market?
    A.
    The type and amount of work depend largely on asking price, the time you have to sell, and the present condition of the house. Removing clutter and larger pieces of furniture may be all that is needed to have your house show well and sell quickly. Consult your O'Brien Realty sales associate for more information.



    Q.
    Should I make any major home improvements?
    A.
    Professional renovators have found that, no matter how much you improve any given house, you're unlikely to sell it for much above the median price of other houses in the neighborhood. That's why you want to ask your sales professional's opinion about the viability of recouping the cost of any major renovation you have in mind before you start the work.



    Q.
    What is "fair market value", and how do I determine mine?
    A.
    Simply put, the fair market value of a house is the highest price an informed buyer will pay, assuming there is no unusual pressure to complete the purchase. To get an estimate of fair market value, ask for a Comparative Market Analysis (CMA) of your house. Click here for O'Brien Realty to provide one for FREE.



    Q.
    What should I expect from an open house?
    A.
    The open house is a valuable part of the marketing process, offering prospective buyers the chance to view houses in a low-pressure, "browsing" atmosphere. Your sales professional will give you a full report on open-house activity and offer a professional assessment of its results.



    Q.
    What if I can't sell my old house before I have to move?
    A.
    This situation can arise for any number of reasons. If you don't have to sell in order to buy a new home, consider the advantages and disadvantages of renting your old house. If you're being transferred before you've had a chance to decide on the new house, you may be able to obtain a short-term rental of your own while you're becoming familiar with the new area. Either way, an O'Brien Realty real estate professional can help by advising you how much you can expect to pay for rent in your new city, or what you need to charge for your current home to both cover your mortgage payments and take care of other costs you'll entail as a landlord.



    Q.
    What are the advantages of using a real estate professional to help me buy a home?
    A.
    A real estate sales professional is state certified to assist in the purchase of a home. A sales professional has a valuable source of information about market trends, communities and neighborhoods, and homes for sale throughout the area using the Multiple Listing Service (MLS).



    Q.
    How do I begin the process of looking for a home?
    A.
    The first thing you should do is to begin focusing on what you're looking for in a home. You can start by establishing priorities in the following three areas: Location, Personal Tastes, and Budget.



    Q.
    How do I know how much home I can afford?
    A.
    There are many financing options available today. In addition, there are several calculators available, such as monthly payments. It is also beneficial to get pre-approval from a lending institution.



    Q.
    How does buying compare to renting?
    A.
    Renting offers a lifestyle that's nearly maintenance-free. That may appeal to you, but consider that renting offers you no equity, no tax benefit, and most likely no protection against regular rent increases. Several financing options hold special advantages for first-time buyers or families with limited cash reserves. FHA-insured and VA-guaranteed mortgages can minimize or even eliminate your down payment.



    Q.
    What should I think about when I'm deciding which community I want to live in?
    A.
    A few considerations to keep in mind are city services and location to employment and schools. As for individual neighborhoods within a village or city, there is no better source of information than your real estate professional. O'Brien Realty sales professionals know the people and the communities they serve, and they can help you find a neighborhood that fits your family's needs.



    Q.
    Where can I get information about local schools?
    A.
    Obrienrealty.com has a special link to begin your search. The link is located on the relocation page under local school website icon



    Q.
    If I'm moving a considerable distance, is there any way I can screen homes before I start traveling?
    A.
    Yes. O'Brien Realty's search database is linked to the Multiple Listing Services (MLS) and RELO Home Search - which include as much as 90 percent of the homes listed in any given community - have made it relatively easy for buyers to access detailed information on homes for sale practically anywhere in the country. O'Brien Realty's Virtual Tour program allows interested buyers to expand their search from viewing property information only to viewing exterior and interior photos without ever leaving their home.



    Q.
    Do I need a home inspection?
    A.
    A professional home inspection is highly recommended. This type of inspection checks the home's plumbing, heating, cooling, and electrical systems. The inspector also looks for structural defects such as a damp basement. Some other types of inspections to consider are radon and water quality.



    Q.
    Real estate listings and ads seem to have a language all their own. What do all those abbreviations mean?
    A.
    Abbreviations are a necessity in real estate advertising because so much information must be communicated in so little space. Some common abbreviations and their meanings:




    Q.
    What is "earnest money" and how much do I need?
    A.
    It is money paid by the buyer at the time of making an offer or entering into a contract to purchase. It is requested to show the buyer's good-faith intention to complete the purchase. Typically, you will be asked to write a check for one to 10 percent of the sale price.



    Q.
    What will happen on closing day?
    A.
    1. The lender's agent will ask for your paid home insurance policy.
    2. The agent will list the adjustments. These include the money you owe the seller (the remainder of the
        down payment; prepaid taxes) and what the seller owes you (unpaid taxes; prepaid rent).
    3. You will sign the mortgage. This gives the lender legal rights to the property if you don't make your
        payments.
    4. You will sign the mortgage note (the promise to repay the loan in regular monthly payments).
    5. You will get title from the seller in the form of a signed deed.
    6. The lender's agent will collect the closing costs from you and give you a settlement statement of all
        the items you have paid for.
    7. The deed and mortgage will be recorded in the town or county Registry of Deeds.



     
    Consumer News