We’ve pulled together some common questions to help you get started

What is earnest money?

Earnest money is a deposit made by the homebuyer during the initial stages of purchasing a home. It's essentially a good faith deposit that shows the seller that you're serious about buying the home. Typically, it's about 1-3% of the purchase price and will be applied towards the down payment or closing costs at closing.

What if I need to buy and sell at the same time?

Buying and selling simultaneously can be challenging but it's absolutely doable with careful planning. There are several strategies like making a contingent offer or a rent-back agreement. We will help navigate this complex process to ensure a smooth transition between your old and new homes.

I need financing for my new home- where do I go to find this?

There are numerous options for financing a home purchase. You can approach traditional lenders like banks or credit unions, or consider mortgage brokers or online lenders. It's important to shop around to find the best rates and terms. We can refer you to trusted financing partners who have proven to offer our clients excellent service and that we have great, longstanding relationships with.

Who pays for the house inspection?

Typically, the buyer pays for the home inspection. It's part of the home buying process to ensure you're aware of any potential issues with the property before closing.

Who pays for a house appraisal?

The home appraisal is usually paid for by the buyer, and it's often a requirement of the mortgage lender to ensure the home's selling price is justified based on its condition and the current real estate market.

Can I sell my house without having a bunch of people walking through it?

Yes, there are alternatives to traditional showings. We can use strategies such as virtual tours, video walkthroughs, or private showings to minimize foot traffic in your home while still effectively marketing it to potential buyers. Further, we have an investment branch that can buy your home for cash and you won't have to have any showings, listings, etc.

Who can I use for staging? Virtual staging?

Staging can be an excellent tool to present your home in the best possible light. If you use our selling service, we can do the staging for you and we'll front the cost for zero interest.

What do I need to bring to a home closing?

At closing, you'll typically need to bring a government-issued ID, your bank routing and account numbers, your keys, and any additional documents requested by your lender or title company. This may include proof of homeowners insurance, a copy of the contract, and funds for closing costs if not being wired directly to the title company.

What is a due diligence period?

The due diligence period is a specified amount of time after a home is under contract, during which the buyer can inspect the property, review documents, and perform other checks. It's a chance to back out of the purchase, if necessary, without losing your earnest money.

How much money will I need for a down payment? For closing costs?

Down payment and closing costs can vary greatly based on the type of mortgage and other factors. Typically, down payments range from 3-20% of the home's purchase price. Closing costs, which cover various fees and services, typically range from 2-5% of the loan amount.

What are my utilities at my new home and how much will they cost?

Utility costs can vary based on the size and location of the home, as well as personal usage. Utilities generally include water, electricity, gas, trash/recycling, and sometimes HOA fees. We can help you obtain estimates from local utility providers.

What family friendly activities are there around Chattanooga?

Chattanooga offers a variety of family-friendly activities including the Tennessee Aquarium, Coolidge Park, Creative Discovery Museum, Lookout Mountain Incline Railway, and a host of outdoor recreational opportunities.

What are the schools like in Hamilton County, TN?

As a real estate professional, I must adhere to the Fair Housing Act, which prohibits steering and personal opinions on specific schools or districts. However, I can provide resources where you can find comprehensive information about schools in Hamilton County. Websites such as GreatSchools.org and the Hamilton County Department of Education's own website offer a wealth of information, including test scores, student-to-teacher ratios, and more. It's also a good idea to visit schools personally, if possible, to get a first-hand feel for them. Remember, what works best for your family and children's individual needs is the most important consideration.

What are some good restaurants in Chattanooga?

Chattanooga boasts a vibrant food scene with a wide variety of cuisines. Some local favorites include Public House for Southern comfort food, Alleia for Italian, and Main Street Meats for local farm-to-table options.

What is the weather like in Chattanooga?

Chattanooga experiences a moderate climate with all four seasons. Summers are typically warm and humid, while winters are relatively mild. Spring and fall offer comfortable temperatures and beautiful foliage. The city averages about 53 inches of rain per year.