Frequent Questions

 Should I use a real estate professional?

Yes! Realtors are professionally trained individuals that list and sell homes on a daily basis. The average seller sells a home once every 5 years. Realtors know the “ins and outs” and what to look for in representing their client. From knowledge of the market, to understanding the financing maze, to protecting your interest while hamming out the details of a real estate purchase contract, your professional real estate agent can save you time, money, worry and aggravation.

MLS stands for “Multiple Listing Service.” This is a free service provided by most real estate companies that allows participating real estate companies to place the properties that are for sale with their company into one system in the entire area.

A seller is gaining a broader exposure of his/her property when listing with a participating MLS company. The property is available to all area Realtors instead of only the Realtors of the listing company. Each agent that is a member of MLS is notified of the availability of every property for sale. In effect, the seller has each member of the MLS working for him/her.

Since members of the MLS can show and sell any property that is listed with the MLS, a buyer can save an exceptional amount of time by working with one agent that gets to know the buyer’s needs and wants. Instead of driving all over town to see each property with different companies, buyers can go to one agent that can access all the information about all the properties the buyer may be interested in.

Yes. By getting pre-qualified and pre-approved, the buyer has an advantage over other Buyers that may be bidding and trying to buy the same property. When the listing agent presents offers, the buyer that has their financing already approved can generally close quicker, which in turn looks better to the seller.

There are a wide variety of ways in which you can finance the purchase of real estate. Most common are FHA, VA and conventional loans. However, each person’s needs are unique and a professional real estate agent will help determine which financing is suited to you.

It depends. If the buyer is qualified and is financially able to purchase a home prior to selling their current home, then it is feasible to wait until they find just the right home. But, for some buyer’s, they must have the equity from their present home to enable them to purchase the new one. In this case, most real estate professionals advise the future buyer to get their current home on the market and then start looking for that new home while their home is being marketed.

Once you have found the home you wish to purchase, your real estate professional will assist you in completing all the necessary documents which are required to make the transaction complete and legal. Your professional agent knows which forms are required and how to “put it all together” to make a successful closing take place.

YES!! All buyer’s are encouraged to and should have the property they are considering purchasing inspected by an independent, licensed home inspector. Real estate professionals should disclose any defect they are aware of in the property, but the professional home inspector is trained to check out the property thoroughly and report to the buyer any item that may need attention now or in the future. However, if you choose not to have an inspection of the property, beware! Once you have accepted delivery of the deed, in many cases, you have accepted the property in its current condition. An inspection of the property you are buying should allow you to fully understand the condition of that property.

Absolutely! Realtors take an oath affirming their allegiance to treat all persons the same! Kentucky’s Fair Housing Law forbids discrimination in housing because of a person’s color, religion, race, sex, national origin, familial status or disability. If you feel you have been the victim of discrimination, contact the Kentucky Commission on Human Rights at 1-800-292-5566.

For other questions or further discussion on these please e-mail to jim.collier@century21.com