Got Real Estate Questions?
I’ve Got Answers.
Buying or selling a home comes with a lot of moving parts, and it’s completely normal to have questions.
This FAQ page is here to give you clear, straightforward answers to the things people ask most often—so you can move forward with confidence, not confusion.
Frequently Asked Questions
Scroll below to find quick, clear answers to your biggest real estate questions.
Buyer FAQs
How much money do I need for a down payment?
Most buyers put between 3 and 20 percent down, depending on the loan type. FHA loans start at 3.5 percent down, and some conventional loans allow as little as 3 percent. Your lender can help you choose the option that fits your budget and goals.
What credit score do I need to buy a house?
Most loan programs start around a 620 credit score, though FHA loans may allow lower. A higher score usually means a better interest rate, but buyers with average credit can still purchase a home with the right loan.
How long does the homebuying process take?
Most purchases take 30 to 45 days from the time your offer is accepted to closing. If you're paying cash or using a fast-moving lender, it can be even quicker.
Do I need a real estate agent to buy a home?
Technically no, but having an agent protects your interests, helps you negotiate, and gives you access to market expertise—and the best part is the seller usually pays the agent’s commission.
What is earnest money?
Earnest money is a small deposit (usually 1 to 2 percent of the purchase price) that shows the seller you’re serious. It’s credited back to you at closing.
What happens during a home inspection?
A licensed inspector evaluates the home’s structure, systems, and overall condition. You’ll receive a detailed report and can negotiate repairs or credits based on the findings.
What is an appraisal and why do I need one?
An appraisal ensures the home’s value matches the purchase price. Lenders require it to confirm the property is worth the loan amount.
Can I buy a home if I’m self-employed?
Yes. Self-employed buyers typically need two years of tax returns and consistent income history. A good lender will walk you through what counts as qualified income.
How much are closing costs?
Closing costs are usually 2 to 5 percent of the purchase price and include lender fees, title fees, inspections, and insurance. In some cases, you can negotiate for the seller to help cover them.
When can I move into my new home?
In most cases, you get the keys at closing once all documents are signed and the loan is funded. Occasionally, buyers and sellers agree on a different move-in date depending on logistics.
Seller FAQs
When is the best time to sell my home?
Spring and early summer tend to attract the most buyers, but the “best time” also depends on your local market, your neighborhood, and your personal timeline. A well-priced home can sell in any season.
How much is my home worth?
Your home’s value depends on recent comparable sales, condition, upgrades, and current market trends. The fastest way to get an accurate number is a comparative market analysis, which I provide for free.
Do I need to make repairs before selling?
Not always. Small fixes and cosmetic updates can help, but you don’t need to renovate the whole house. We’ll focus on high-impact improvements that make your home more appealing without overspending.
How long does it take to sell a home?
Most homes sell within 30 to 60 days, depending on price, condition, and demand. Some sell faster if they’re move-in ready and well-priced right from the start.
How much does it cost to sell a home?
Typical selling costs include agent commission, title fees, prorated taxes, and any agreed-upon repairs or concessions. Most sellers spend around 8 to 10 percent of the sale price, depending on the situation.
Do I need to stage my home?
You don’t have to fully stage your home, but decluttering and simple styling can make a huge difference. Staged homes often photograph better and attract more buyers.
What happens during showings?
Buyers schedule a time to tour your home, usually with their agent. You’ll need to be out of the house, and I’ll give you simple prep tips so it shows its best every time.
What should I do if I get multiple offers?
We’ll compare each offer side-by-side—not just price. We’ll look at financing, closing timelines, contingencies, and likelihood of a smooth transaction to help you choose the strongest one.
What is a contingency?
A contingency is a condition that must be met for the sale to move forward—like inspection, appraisal, or financing. I’ll walk you through what each one means and how it affects the sale.
What happens after I accept an offer?
Once you accept an offer, the buyer schedules inspections, the appraisal is ordered, and title work begins. I’ll guide you through each step so the process stays clear and stress-free all the way to closing.
If your question isn’t listed here, I’m happy to help personally.
Copyright 2025. Morgan Tipton Real Estate. All Rights Reserved.
