Frequently Asked Questions

Location

Can school district affect home values?

The school district a property sits within can affect the home value indirectly.  The school district can affect demand, which in turn will affect the value.

I’m not from Columbus, where should I live?

Central Ohio is a rapidly growing area.  I recommend making a visit to Columbus and visiting area festivals and driving areas to determine what area appeals to you.  Even better is to start with a local Realtor is give recommendations on places to visit that make sense for your commute, wants, needs and conveniences. 

What is the current market like?

This changes daily, so we need to grab a coffee and chat!

Realtor

How far will a Realtor travel?

It really depends on the agent and their availability.  You do need to be sure that the agent is familiar with the area you are considering.  Generally speaking, 45-60 minutes is usually my comfort zone.

Where can I find an out of state Realtor?

I can vet agents for you and give you an introduction.

How do real estate agents get paid?

Real estate agents are considered independent contractors and generally are paid on 100% commission after the transaction closes.  There are some exceptions like Redfin.  Many brokerages also have a transaction fee or additional commission fee.  This fee goes directly to the Brokerage.

Should I use a Realtor if I’m considering new construction?

Absolutely.  Most people only build 1 or 2 homes in their lifetime, so the process can be very overwhelming.  Realtors have been through the new build process repeatedly.  Whether meeting with a production builder or custom builder, taking a Realtor with you will be beneficial.  The agents know what questions to ask, the type of upgrades that will make resale easy, and know the reputations various builders have throughout the industry.  Also take note, the Sales Representative at the home model works for and represents the builder.

What or who is an “iBuyer”?

“iBuyers” are companies that will purchase your property for cash.  The problem they are trying to solve are home owners that need to sell quickly for various reasons.  Opendoor for example, will let you pick the timeline for closing, asks quite a few questions and then gives a preliminary offer.  If you want to move forward, then you schedule a video walkthrough and they will give you a final offer.  There is a cost involved.  Opendoor, for example, is a 5% service fee, you pay repairs and closing costs. **As of 11.5.21**  I ran an opendoor analysis on my own home up to the preliminary offer and found it to be approximately $10,000 low.

Relocation

Can I sell my own home?

Absolutely, however if you choose to do so, retain a real estate attorney for your protection.

Should I refinance my current home?

The answer is, it depends.  What is your goal?  To pull cash out for a remodel?  Lower the monthly payment?  Shorten the original loan term?  Let’s schedule a time to meet and discuss your situation and goals.

I need to sell my current home before I buy my next home, what next?

There are loan options that may help make the transition from one home to another.  If we can avoid the double move, we will!

What are current interest rates?

This also changes daily.  Give me a call and I’ll refer you to a great lender!

How much down payment do I need?

3.5% or more.  The more down payment you have, the better of an interest rate you may qualify for. Depending on the lender, if the down payment is less than 15% or 20%, there will be a monthly Private Mortgage Insurance (PMI) required.

Don’t See An Answer To Your Question?
Contact Us and Let Us Help You!

Ask Us!

Shannon Leyh Real Estate
Mainstream Realty Pros
6697 Springview Drive
Westerville, Ohio 43082

Call us E-mail

© 2022 Shannon Leyh

©2022 Shannon Leyh

Terms Privacy Cookies