Local Real Estate Agents at Home Team Realty

Real estate agent fees vary but typically range from 5-6% of the home's sale price. Commissions cover both the buyer's and seller's agents, ensuring professional representation for a successful transaction.

Dual agency occurs when one agent represents both the buyer and seller. While legal in some states, it requires transparency and informed consent from all parties involved.

Special agency, or limited agency, allows an agent to represent only one party in a transaction. The agent's responsibilities are confined to specific duties agreed upon in the agency relationship.

General agency grants an agent broader authority to act on behalf of a client. This often includes decision-making powers and a more comprehensive representation role in real estate transactions.

Prepaid costs in home buying refer to upfront expenses paid at closing. These include property taxes, homeowner's insurance, and prepaid interest, ensuring financial readiness for homeownership.

When a home is marked as "pending," an offer has been accepted, and the sale is in progress. However, the deal hasn't closed yet, leaving room for potential changes or contingencies.

Earnest money is a deposit submitted with an offer to show the buyer's seriousness. It demonstrates commitment and is held in escrow until the deal closes, at which point it is applied to the purchase price.

The home-buying process involves steps like pre-approval, house hunting, making an offer, inspections, and closing. A real estate agent guides you through each stage, ensuring a smooth and successful purchase.