Buyers' Questions & Answers

Q.   What is the first thing I need to do to buy a home?

A.   The first thing you should do is get preapproved with a lender of your choice.  This does not cost you anything and only takes minutes to do.  The lender will let you know what price home you will be able to afford.

Q.   Do I need a buyer's agent to buy a home? 

A.    A buyer's agent's job is to look out for your best interest and to protect, inform and guide you so that you can make the best real estate decision.

Q.   How much will it cost me to have my own buyer's agent working for me?

A.     Nothing at all.  Agent fees are paid for by the seller.

Q.   Do I have to have any earnest money to buy a home?

A.   You do not have to put down any earnest money to buy a home although most sellers will require earnest money to put their home under contract.  The amount is usually negotiable but it is common in our area, especially with foreclosures, for that amount to be $1000. 

Q.   When writing a contract on a home what protects me?

A.   Your offer to purchase will be contingent upon the home appraising for the agreed upon contract amount.  It will also be contingent upon your ability to obtain financing that is suitable to you which means you must be able to get the type of loan and amount of money that is agreed upon in the contract.  Another important contingency is being able to have any type of home inspection you desire. 



Contact Information

Affiliate BrokerCumberland Real Estate
121 Public Square Lebanon, TN 37087