FAQ’s For Buyers

We approach the needs of our Buyers as if they were going to place their home on the market within a year after they purchase it. In other words, we want to ensure that our Buyers have a working knowledge of what their desired home is actually worth based on salient data of comparable sold homes in the neighborhood and/or the use of the cost approach if the home is in a newer subdivision.
Not necessarily. Many Buyers can qualify for a “blanket” mortgage, which allows them to purchase a new home without the contingency of the sale of their existing home. Our agency feels that your comfort level as a Buyer for this type of financing is more important than your ability to qualify for this type of loan.

This is very much a personal decision and there are pros and cons to both sides. Most people who make the decision to buy do so because they want the independence of home ownership–to be able to change/improve their property and yard to best suit their needs, to have a pet if they choose, and not be subject to rent increases. They prefer not to have a landlord dictating what paint colors may be used or how needed repairs are made. On the “business” side of the equation is the desire to have the financial advantages of home ownership—building equity as well as having the tax deductions for mortgage interest and real estate taxes.

We think it’s best to start with a lender to find out what you can afford before looking for a new home. That’s the best way to avoid wasting time and perhaps seeing homes that don’t fit your budget. We work with many lenders that can pre-approve you for a mortgage loan before beginning your home search. They will verify your income and assets as well as check your credit score and debts to see what loan programs will best suit your needs and recommend a price range to you. Having a pre-approval letter in hand will give you a stronger position when negotiating with a Seller to buy the home of your dreams.
Once you’ve spoken to a lender and been pre-approved, we can set you up with an on-line home search. We’ll use your most important criteria (neighborhoods, schools, price range, home and yard size, or whatever is important to you). We can then identify possible “fits” for your needs and have them automatically e-mailed to you as soon as they come on the market. That will put you in the best position to identify homes that you’d actually like to “see, touch, and feel.”
We will keep you informed of all homes. We want to help you find your dream home which means we need to stay on top of every home that is available in the market.
Yes, we can work with most builders and get you the information you need to make a decision. On your first visit with the builder, we will accompany you. By using our services with a new construction home purchase, you will receive the services we offer, as well as those provided by the builder, at no additional cost.
Homeowners trying to sell their home without agent representation are usually doing so in the hopes of saving the commission. If you see a FSBO and want the advantages of our services, let us contact the owner for you and make an appointment. Most times the homeowner will work with an agent, even though their home is not listed, since the agent is introducing a potential Buyer to their property.
Your Sorrell & Company Realtor will schedule appointments to take you through the homes you think may work for you and your family. We’ll point out things during the showings (pros and cons of each property) to help make you an informed buyer and better equip you to identify a good value. Once you’ve made the decision to make an offer on a home, we’ll sit down with you and prepare an offer. We’ll become your “partner” in the process—reviewing comparable neighborhood sales to ensure you don’t offer more than a home is worth; explaining the financing and inspection processes; and walk you through each step to closing, offering guidance and advice along the way.
There are many things that will need to be handled right away—collection of your earnest money, scheduling inspections, communicating with your lender, etc. We will guide you step-by- step through this process to make sure we comply with the terms of your contract.
You will have an opportunity to go back through the home during the inspection if your contract calls for one. In addition, we will schedule a final walk-through of your new home immediately before closing.
After inspection issues (if any) are resolved and your loan is being processed, you will have time to celebrate and focus on moving in your new home! You will want to schedule your move, pack items, and notify businesses of your address change. We will provide you with a moving checklist to help you remember all the details. You will also receive a good faith estimate and preliminary settlement statement (Closing Disclosure) which will indicate the amount you will need to bring to closing.

FAQ’s For Sellers

Our Owner’s Checklist, Checklist for Showings, and Photographer’s Pre-Shoot Checklist (included on our Resources page) provide many tips to help you prepare your home for Buyers.

To REPRESENT YOU AND YOUR HOME, we will:

Complete an actual appraisal of your home that will define the current market value (i.e., the price a ready, willing, and able purchaser would pay for your property). By using one of our on-staff Ohio Licensed Appraisers, we feel this valuation process will be more accurate than a “market analysis” which is typically offered by a Realtor. You can use this appraisal whether you choose to list with our office or another firm.

We will work for you full-time, as your professional sales associate, to sell your home for the highest possible price, in the least amount of time, using our expertise to make this a smooth and pleasant transaction.

Hire a professional photographer to take photos of your home highlighting its best features and have a professional printer complete a full color brochure for potential Buyers who view your home.

Enter your home into our own Multiple Listing System with the Columbus Board of Realtors where more than 4,000 Realtors will have the ability to match their prospects with your home.

Advertise your home on our own web page, www.sorrellandco.com, social media, and the national web-sites, www.realtor.com and zillow.com.

Send direct mail listing announcements to surrounding communities and neighborhoods.

Place your home on the Realtor Tour allowing all Realtors the opportunity to preview your home and match it with their own Buyer database.

Advertise your home in the community “This Week” as we have found this avenue to be successful in the local communities.

Advertise open houses in The Columbus Dispatch (printed newspaper and on-line) to attract potential Buyers to your home.

Insure that the companies we represent (Nationwide Children’s Hospital, Riverside Hospital, OSU Hospital, Adena Hospital, Mid-Ohio Cardiology, etc.) are aware that your home is available not only for incoming employees but people currently on staff.

Consider all serious prospective Buyers and counsel them in every possible financial option.

Carefully follow up with anyone who previews your home.

Counsel you on all offers and negotiate the best possible price for you.

Notify you as soon as possible of any request to show your house.

Provide you with a written copy of any documents you may sign regarding the sale of your home.

Explain in detail all instruments, transactions, and procedures from contract to closing.

Accompany you to settlement, counseling you through the entire process, or represent you at the closing by having papers prepared in advance for your review.

We can calculate your expenses (real estate tax pro-rations, title fees, Realtor commissions, mortgage payoffs, etc.) to arrive at an estimated net proceeds in order to show you what your bottom line will be.
Having a licensed appraiser on staff means we can have your home appraised whether you choose to use our firm or not. More importantly, we feel it is in your best interest to have an accurate valuation of your home so you can decide whether to place your home on the market today or in the future.

Generally speaking, the condition of your home is very important. However, there are ways of improving the marketability of your home without spending a great deal of money. Buying a new welcome mat, cleaning out closets, applying a fresh coat of paint, performing a thorough cleaning, and reorganizing closets are inexpensive ways of enhancing the appearance of your home. Our Owner’s Checklist, Tips for Preparing for Showings, and Photographer’s Pre-Shoot Checklist (included on our Resources page) provide more specifics.

Our agent will walk through your home with you, making suggestions on what to highlight, what might need to be de-cluttered, and how to best feature your home to prospective Buyers.

Let us put our experience to work for you. We have helped sell thousands of homes and properties. We know what is important to both Buyers and Sellers. We promise to do our best to make this transaction a smooth and pleasant one.

Yes. For a potential Buyer to feel at ease while viewing your home, it’s best that you not be present during showings. If the Buyer is using an agent, the agent will accompany them. If the Buyer is not represented by a Realtor, your Sorrell & Company agent will be present.

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