Home-Buyer FAQ

Buying a new home could be exciting and terrifying, all at the same time. There are many steps to the home buying process and each step creates a new set of questions. Buying real estate may seem intimidating, but a good realtor will make it much easier. They will take care of you through each step of the process and make your experience as smooth as possible.

Q: How much do I have to pay a realtor?

A: In most cases, you do not have to pay your realtor anything to help you purchase a home. The sellers pay their realtor a fee, and then that listing agent pays the buyer’s agent for bringing the buyer and facilitating the transaction. 


Q: What does a realtor do?

A: A realtor is your most valuable asset when buying a home. They will walk you through every part of the home buying process. They will educate and inform you of all your options. They will represent you throughout the transaction and beyond.


Q: Should I call directly the listing agent?

A: The listing agent is working for the seller, who (naturally) is trying to get you to pay “top dollar” for their home. You need a buyer’s agent, who represents you exclusively and will work for you only trying to get you the “bottom dollar”.


Q: Are there any other fees besides down payment?

A: The down payment is usually the largest cost associated with buying a house. Lending fees are he second largest costs to home buyers. Most lenders will charge between 2-4% of the loan amount for loan origination fees but require more money down. Your loan officer will be able to help you determine how much you can expect to pay towards loan origination and closing costs.


Q: Should I get pre-approved before looking for a home?

A: The last thing the seller wants to do is accept an offer from someone who is not qualified to get a mortgage loan… and then find out the buyer can’t even qualify for a loan. That’s a waste of everyone’s time. So, it’s a good idea to get pre-approved before looking at houses, or as early on as possible.



Beware of advice from people who do not work in the industry. Real estate is a popular topic and almost everyone feels like they have some great insight to offer. In reality, the people who know best are the people that work in the business. Experienced realtors have sold hundreds (maybe thousands) or properties. We know what to expect, and what to look out for. Friends and relatives have only bought and sold a few homes, if any at all. Buying and selling a couple of homes does not make someone a well-rounded source of information. I’ve seen too many first-time buyers become persuaded by well-meaning friends and family, only to be disappointed later. Be confident in your decisions and trust the professionals.


WRITTEN BY; OLGA GHAZALEH – New Home Collective – Keller Williams Greater Lex

859-559-1229 – olga@411Lex.com

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