Buyers FAQs – Rebecca Rehberg, Your Partner in Ventura County Real Estate

Buyers FAQs

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You’ll want to be very comfortable in your relationship with both your Realtor and your Lender, this is a complex process and you need the best people on your side.

What can I expect in the way of costs?

1) Down Payment - Down payments run 3.5%-20% depending on your financial needs.

2) Escrow Costs – In addition to your down payment, escrow costs typically run about 2% of the purchase price and can include: Pro-rations i.e. Property Tax, HOA dues - Loan Costs i.e. points, appraisal, fees, Homeowners Insurance, impounds - Title fees (to provide Lender clear title) - Escrow fees (to manage the escrow process)

3) Inspections Costs – any inspections you want to do on the property are at your expense and are paid upfront and outside of escrow. (Typical Home Inspection +/- $500)

How long does it take to buy a house?

It depends on a number of factors, but a typical transaction will close in 30 days from the date the contract is executed.

Is now a good time to sell my home?

Talk with your Realtor for up to date market conditions. As of this writing, interest rates are historically low, and inventory is tight, so it is truly a great time to sell.

Do I need a Real Estate Attorney?

No, California is not a state that requires a Real Estate Attorney.

What does my Realtor do for me?

Your Realtor will help you every step of the way! We can help you find the right lender to establish your budget/finances to ensure you ready to start seriously looking. - help you find exactly the right house for you, submit an offer on your behalf, negotiate the best possible price. - help you with the Inspection Process ensuring you are asking the right questions to the right professionals- help you work through the Escrow Process and always make sure your best interests are first and foremost.