E-mail me with other questions not listed + How much commission does the buyer pay to their realtor? NOTHING! The seller pays the realtor commission based upon a prearranged agreement with the seller and their selling agent. The only fee you will pay as a buyer is an office fee determined by each Realtor’s office. Usually these fees are less than $500. Be sure to ask your Realtor what their office fee is upfront so there won’t be any unexpected surprises. + How many homes should I see before I pick mine? This is not an easy question to answer and is different for every person. You may only need to see a few homes before you fall in love with one. Or we may have to look for months before making a decision. I enjoy showing homes to buyers so I am happy to show you as many as you would like to see. + How long will the entire process take? Usually 30-60 days, but it depends on how long it takes to find a home, how long your bank takes to approve the loan and your sellers time table. + What is an occupancy inspection/permit? Some municipalities in the greater St. Louis area require an occupancy permit before you can move in. To get the permit the home must be inspected by the municipality. Typically the home has already passed all occupancy inspections before it is listed for sale. Make sure you ask your Realtor about any occupancy inspections and permits needed. After you close on your new home, you will need to contact your municipality’s city hall to pay your occupancy permit fee and get your permit. + When do I get the keys and can move in? Usually the day of closing. The actual closing takes about an hour. You can’t officially get the keys until your loan is funded, which can be a few more hours after you sign the loan documents. Try to close on Thursdays or earlier in the week. If you close on a Friday you may not be able to get the keys until Monday. + Is there a difference between a Realtor and a Real Estate Agent? There is! A Realtor is registered by a National Association of Realtors and must abide by a strict code of ethics. Also they must attend continuing education classes to keep up with laws, trends in the market, etc. A Real Estate Agent does not have to do any of these things.
