Your Ruhl&Ruhl agent can also help answer any questions you may have or read our Buyer’s Guide.

Question: What’s the first step I should take?
Answer: Unless you plan on paying with cash, your first step will be to get pre-approved for a loan. Once you get pre-approved, you will know with more accuracy the price of the home you can afford.

Question: What is pre-qualifying versus pre-approval?
Answer: In pre-qualification, you are given an estimate of what you may be able to borrow. This is a quick way to know what price range you should be looking in. Pre-approval means a financial institution has agreed to work with you and has taken a thorough look through your finances. Learn more about the pre-approval process.

Question: Why should I use a realtor to help me buy a home?
Answer: Your Ruhl&Ruhl Realtor will handle everything you need from start to finish. That includes paperwork, negotiations, inspections and so much more. Learn more about our agents here.

Question: How much money do I need for a down payment?
Answer: The answer may surprise you, it’s no longer 20%. All loan options are different, but the average down payment is now 3% to 5%. If you or the property you’re purchasing qualifies for a VA or USDA loan, you aren’t required to put any money down. Learn more about buying a home here.

Question: Can I buy a home and sell my current one at the same time?
Answer: Yes, you definitely can. We would highly recommend working with a Ruhl&Ruhl Realtor to help make the transition between selling and buying as smooth as possible. Learn more about the selling process.

Question: How many homes should I see before making an offer?
Answer: You should see as many as you need to ensure you find the perfect home. On average, home buyers will look at hundreds of homes online but will see 10 homes in person before writing an offer. If you’re looking for a way to narrow down your search, sign up for a personal shopper report.

Question: I found a house… now what?
Answer: Your Ruhl&Ruhl Realtor will help walk you through writing an offer on your dream home and will then handle the negotiations. Learn more about writing an offer here.

Question: How do I know if the property is a good deal?
Answer: While you can never know how much a home is worth exactly, your Ruhl&Ruhl agent has been trained to use comparable properties to determine accurate pricing of homes. He or she will look at houses that have recently sold in the area that are similar to the one you are buying to ensure you are paying a fair price.

Question: When can I back out if I change my mind?
Answer: You can always back out of a deal, but you may have to forfeit the earnest money you put down with the offer. Earnest money is typically around 1%-2% of the home’s price. Learn more about writing an offer here.

Question: How quickly can I close?
Answer: It can typically take 30 to 45 days to close.

These answers are just the start. Learn about all of the ins and outs of the buying process.

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Doris Mosley-Johnson

Licensed In IA, IL
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Burlington Office

403 S. Gear Avenue, Suite 105
West Burlington, IA 52655