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Frequently Asked Questions
Get in touch with a RE/MAX Metro agent. They’ll be able to walk you through the process and explain options to prepare you for placing your home for sale on our transparent bidding platform at OffersByMetro.com.
You should disclose anything that you are aware of, including leaks, damages, defects, or any other issues. This will help you to avoid potential issues or worst case, lawsuits. The winning buyer should be welcomed to conduct a professional home inspection at their expense unless they waive that contingency within their offer.
There is no standard answer to this. It’s important to make your home how it is and improve it anywhere you can. An experienced RE/MAX Metro agent will be able to determine how much your house could sell for by preparing a professional market analysis.
There are pros and cons. If you sell before buying, it gives you the edge for negotiating on your new home, since you won’t have a sale contingency to adhere to. However, if you sell too soon you may not have a place lined up to live, which can cause some stress if you have unavailable options.
As a home seller, there are some common expenses that you’ll need to pay including abstract and title search, instrument survey, real estate commissions, and transfer taxes.
The bidding period can be as long or short as desired. You can also suspend the process at any stage if the need arises.
Bidding ends when the agent accepts the top offer on behalf of the client.
PMI stands for “Private Mortgage Insurance” and is typically needed when a buyer puts less than 20% down. Each price can vary, so make sure to contact your agent for more details.
A contingency is a provision included in a sales contract stating that certain events or conditions must occur before the contract is valid.
An earnest money deposit, also known as a good faith deposit, is when a buyer purchases a home and provides the seller’s real estate company a deposit to hold in their escrow account. This makes the buyer look more serious about the purchase, typically giving the buyer a better chance at closing.
MLS, or “Multiple Listing Service” is a computerized listing of homes for sale in an area listed with a realtor. This program allows agents to find houses within a price range or specific area.
When you’re prequalified, it means that you can potentially get a loan for the amount that is stated to you. When you’re pre-approved, it means that the lender is willing to give you a loan.
Title insurance is what protects the lender and the buyer against any losses incurred from disputes over the title of a property.
Listing agents will work with sellers to list their property for sale on the MLS.
No. While a listing agent only needs to represent the seller, a buyer’s agent is able to show you any and all houses that are on the market.
Buying agents work with home buyers to represent them during transactions.
A buying agent typically comes at no cost to the buyer. Since buyer agents are normally paid by the seller, individuals are able to use a buyer agent’s services for free.
A counteroffer is an offer made by a party that requests changes to the original offer from the other party. When some makes a counteroffer, this will cancel any previous obligation.
DTI, or “debt-to-income” ratio, is the percentage of a person’s monthly earnings used to pay off all debt obligations. DTI’s help determine pre-approvals for buyers.
Real estate agents provide advice and guidance when buying or selling a home. From constant changes in the market, to inaccurate listings, a real estate agent is able to give you the most solid information about homes that you won’t find anywhere else.
Our setup process is simple! Just go to our account page, register as a buyer or seller, then just follow the steps and fill out your information so you can start using our unique services.
Creating an account is the first step to being able to participate in transparent bidding events. In addition, once you have an account, you’ll have deeper access to all that OffersByMetro.com has to offer including the ability to save filtered searches and receive customized property lists and notifications.
If you have any questions or issues while creating your account, you can contact us here and our team will assist you with your setup.