We've put together some commonly asked questions from home buyers and sellers to give you more information about CENTURY 21 Affiliated and the services we offer. Browse through and when you're ready, speak with a Real Estate Agent for personalized advice.
Buying a house is a big decision. Make sure that you consider the following:
Although different states have different regulations, the process of buying a home is similar.
At CENTURY 21 Affiliated, our agents are committed to working with our buyers from start to finish and will guide you through the process.
Offers and counteroffers are not considered binding until they have been signed and delivered, and can be rescinded. Your CENTURY 21 Affiliated agent can explain further how contingencies within the contract may lead to a contract being cancelled.
Contingent in Real Estate means that there is an offer on a property, but that the sale is contingent on certain criteria that must be met. For example, an offer may be contingent on a Home Inspection being completed within a certain time frame. The offer is therefore contingent on the satisfactory outcome of the inspection, or a negotiation between the parties to remedy any defects found, either through repairs/replacement, or monetary compensation in the form of a reduced price or credit.
A pre-approval or pre-qualification letter will make an offer stronger, especially in a competitive market. It also helps you have a clear idea of your budget before you start looking at homes.
At CENTURY 21 Affiliated, our REALTOR®s are licensed professionals who work for you to negotiate and advocate for you. Most sellers will have a REALTOR® representing them, so having a REALTOR® to navigate through contracts and contingencies is important for a buyer.
Generally, REALTOR® commission is calculated as a percentage of the sale price. The percentage is usually taken out of the seller’s proceeds at closing, and the listing agent splits the fee with the agent representing the buyer. There is, however, no universal rule as to who pays the fees, as these can be negotiated as part of an offer.
There are several steps to selling your home.
Your CENTURY 21 Affiliated agent will discuss the process with you in detail during your listing appointment and throughout the transaction.
Your CENTURY 21 Affiliated agent will work with you to determine a value for your home. They will do an in-depth Current Market Analysis based on previous home sales within your neighborhood. The agent will take many factors into consideration when assessing your home value. Ultimately, the value is determined by what a buyer is willing to pay that is acceptable to you, the seller.
It is good practice to remove as much clutter as possible prior to listing your home. Your CENTURY 21 Affiliated agent will do a thorough walk through of your home and offer suggestions on how best to stage and present your home to potential buyers.
It is a good idea to patch any holes and cracks in your walls and ceilings and re-paint as necessary. Any obvious repairs will be visible to potential buyers. Check the HVAC systems and have these cleaned and serviced if possible. Any broken or cracked windows should be replaced, and leaky faucets should be repaired. If there is a known problem with the roof, it is worth having repairs done. Your CENTURY 21 Affiliated agent will be able to offer advice on repairs that should potentially be done prior to listing.
Your CENTURY 21 Affiliated agent will be able to share the names of contractors that they have used in the past or that have been recommended by fellow professionals within the brokerage.
There are a few different options when attempting to sell and buy simultaneously. In a sellers’ market, you may find that your current home sells quickly, but finding a new home to purchase may be more difficult. Before looking at new homes, it is a good idea to decide on additional locations that you are prepared to search in to increase the number of possible homes. Make sure that you have a good idea of your finances in case you have to rent after your home sells. In a buyers’ market, you may have to lower your asking price to facilitate a sale, or even have two mortgages while waiting to sell.
You can also write a home sale contingency into the offer, although this may make your offer less desirable. Your CENTURY 21 Affiliated agent will be able to discuss many different options with you in order to find a solution that best fits your situation.
There are many factors that will influence a decision to sell, including relocating for work, a growing family or any number of major life events. Many lenders suggest a minimum of 5 years in a home prior to selling so that you can recoup the costs associated with not only selling your home, but also in purchasing your new home. These costs include listing agent commission, repair costs, closing costs on both homes, as well as moving costs. Your CENTURY 21 Affiliated agent will be able to produce an estimate of the proceeds from selling your home to assist you in your decision.
Both buyers and sellers have costs at closing. Generally, buyers pay lenders fees, appraisal fees, inspections and testing fees, Title search fees, recording fees, Lenders title insurance costs and escrow deposits. The escrow deposits vary between lenders but most will expect a few months of taxes and insurance paid at closing to have a cushion in your account.
Sellers will have the REALTOR® costs, Title insurance premiums, transfer taxes and fees, prorated taxes and HOA fees, and Home Warranty costs if applicable. Your CENTURY 21 Affiliated agent can assist in calculating the costs related to buying or selling so that you have a realistic figure in mind when considering a sale or purchase.
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©2023 . All rights reserved. CENTURY 21®, the CENTURY 21 Logo and C21® are service marks owned by Century 21 Real Estate LLC. Century 21 Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, noncommercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS.
Contact Information: CENTURY 21 Affiliated • Nikki Coppa • CA Department of Real Estate - CA DRE #01897784 • 7676 HAZARD CENTER DR #300, SAN DIEGO, CA 92108 • (619) 471-2000