Cox Realty and Associates, LLC

Call:414-312-4422 Fax:414-355-3157

Frequently Asked Questions

Buyer's Questions:

Q: [When should I get Pre-Approved?]


A: [We advise our Clients to get pre-approved before sitting down to meet with us, so that a lender of their choice will be better to assist them as to what kind of loan they qualify for and how much of a home loan they will be able to afford based on financial information "prior" to home showings with us.  This helps with such questions as to how much home a buyer can afford and the financial strategy we will take to proceed forward in home ownership.  If you need referrals please feel free to contact us today at 414-312-4422.]

Q: [Bank vs. Mortgage Lender]


A: [We have found that banks tend to be stricter with lending qualification but at times charging less interest rates than Mortgage Company who are not as strict with the credit scores but will charge a little more than a bank in regards to interest rates on your home loan due to credit and other criteria?  Whether you should  go with a bank or a mortgage company is at the discretion of the buyer?]

Q: [What Is a Realtor/Real Estate Agent]


A: [A Realtor belongs to Realtor Association and has access to the MLS whereas a Real Estate Agent may only be licensed to practice Real Estate under a Broker and not have the same member benefits as the Realtor who belongs to a membership.  Check with your Agent for more details.]

Q: [What is a counter offer?]


A: [A counter offer is when a different proposal from the original offer is given between the buyer and seller.  Either side can give a counter offer during negotiations.  Speak to your Realtor about this.]

Q: [When Is my offer consider excepted?]


A: [A buyer is under contract when both parties (Buyer & Seller) has agreed to the terms of the Contract "(Offer to Purchase)" by signing this document.

Q: [Should I have a home inspection?]


A: [Yes, we do encourage our buyer's to have a home inspection so that they become aware of the condition of the property.  We encourage you after an accepted offer to hire a professional licensed home inspector.  This can range anywhere from $250-and up.  This price is determined by the size of the home and the Company or licensed home inspector you may choose to have inspect your property.]

Q: [What are major defects in a property?]


A: [Major defects to a property are defects to a property that may or may not affect the sale of it.  Examples are leaky roof, foundation issues, etc...]

Q: [What is a property appraisal?]


A: [Upon an accepted offer and home inspection your financial institute will order an appraiser (at your expense unless other wise stated) to go and view the property to get an estimated current fair market value of it based on different factors.]

Q: [What is loan commitment?]


A: [Loan commitment is when the bank decides that all criteria have been met and your loan is approved for closing]

Q: [What is a closing?]


A: [A closing is the final procedure of the buying process.  If all goes well this is where you meet with the lender and closing agent so as to sign closing documents, and receive the keys to your property.  This process can take normally an hour or more.]

Seller's Questions:

Q: [What are the three major things which will affect the sell of my property?]


A: [Location, Condition, Price.]

Q: [Who should sell my home?  FSBO vs. Real Estate Agent?]


A: [Our Realtors will have access to more resources to better able serve your needs vs. a Seller who may not have as much time to invest in the sell of their property.  Working with a professional, experienced Realtor who can set up  showings for your property to pre-screened qualified buyer's who have been already pre-approved vs. the nosy neighbor can serve as a time saver.]

Q: [Should I remodel my home prior to selling it?]


A: [Your greatest money return back for your home are your kitchen and bath remodel.  Speak to one of our Agent's today to discuss and see if this would be the best way for you to go, in order to sell your home.]

Q: [Should I have my home appraised?]


A: [Your Realtor will conduct a CMA (Comparative Market Analysis) prior to listing you home which will tell them what the homes have sold for recently in your area, which ones currently have an accepted offer and which ones are currently for sale.  Based on these factors a determination will be given as to how much you should price your house to sell for.]

Q: [What is home equity?]


A: [A loan that you can get for home improvement toward your property.  Speak to your lender about other perspectives of this type of loan.]

Q: [When will my home sell?]


A: [This is based on several factors, such as location, condition and selling price of your home.]

Q: [Should I have an open house?]


A: [Only about 1% of home purchases are from open houses.  Open houses may at times cause nosy neighbors to visit and compare your property to theirs.]

Q: [What is curb side appeal?]


A: [Curb side appeal includes the exterior appearance of the property and landscaping.  Is the exterior of the home inviting?  Is the lawn manicure?]

Q: [What is staging?]


A: [Is the arrangement of furniture inside a property so as to attract buyers with a welcome home experience.]

Q: [Should I be present for my property showings?]


A: [You need for the buyer to imagine what it would be like to live in the home you are selling.  Therefore you do not need to be there.]

Q: [Should I leave my pets for the showings?]


A: [Due to allergies and sometimes fear of different pets.  Rover or Kitty should not be present if at all possible for schedule showings.]

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