Frequently Asked Questions
The real estate process can seem confusing and feel overwhelming. Below are some commonly asked questions duing the buying the process that I've encountered throughout my years along with the answers I've developed.
A buyer's agent is a licensed realtor who after signing a buyer's agency agreement must be loyal to the buyer and has a single agent fiduciary responsibility to the buyer that includes loyalty, care, obedience confidentiality, disclosure, and accountability.
No, in the Tuscaloosa market the seller pays the REALTOR fees. This is often true with for sale by owners as well.
Yes, I am willing to work around your work schedules if necessary, working in the evenings and on Saturdays and Sundays.
Yes, Realtors in our community share their listings with one another through what's called the Multiple Listing Service. This allows buyers to work with one realtor and develop rapport and trust with the realtor of their choice. I can show you the homes you wish to see and may recommend homes I think fit your needs.
Attending open houses is a way for you to get more familiar with the market. If you choose to attend them, be sure to tell the agent on duty you are already working with a realtor or they will try to convert you to one of their customers. If you give me advance warning of your wish to attend an open house, I will call the agent on duty in advance and signal them of your plan to attend and our working relationship. Or I will meet you there.
Earnest money is an advance on your down payment made to the selling broker at the time you make your offer. If you make an agreement with the seller, your earnest money is deposited in the broker's escrow account and held in trust until you close. It is brought to the closing and added to the funds you need to close on your new home. It is usually helpful to make a meaningful deposit that lets the seller know you are sincere about purchasing the home.
Caveat emptor is Latin for "let the buyer beware." It means the duty to discover defects in a property lies with you as the buyer. The seller is not obligated to tell you about problems you can reasonably discover. He is supposed to tell you if he knows of "hidden defects" that your inspection could not discover. When you become my client by signing buyer agency documents, Caveat Emptor applies to me too.
You have the right to negotiate a home inspection as a part of your agreement. You may then return to the home and conduct your own home inspection, hire a ‘general home inspector,’ or hire the trades to conduct mechanical, roof and structural inspections directly.