Purchasing FAQs

How much does it cost for you to be our realtor?

Nothing at all! The seller pays the commission for both the buyer’s agent and listing agent. In the rare event that a seller is offering a discount commission to co-brokes, you will know right away and we will talk about what that means for the sale.

Do I really need an agent?

Not really, I guess? Kinda like "Do I really need a lawyer?" You can represent yourself but there is definitely a reason we exist. Most of it is behind the scenes stress stuff you don't have to worry about!

I can help negotiate the best deal on your behalf, give you access to the MLS, send out listings before they hit the market, and give you easy access to the homes you want to see. Also, I will be your personal guide through the home buying process, giving you invaluable resources to make the process go as smoothly as possible.

What is a buyer agency agreement and why should I sign one?

A buyers agency is a legal contract between you and your agent which states the nature of the relationship. It outlines the duties and responsibilities owed to you as a client. When we agree to work together in this way I have the freedom to give you my absolute best work and attention knowing my efforts are working towards a goal, helping you discover your new home! 

Is there a maximum number of homes I can see with you?



I want to buy my next home. Should I sell my current home before I put an offer to purchase?

I would love to talk with you about a few different strategies that might work best for you when your looking to move up (or down). Every situation is different and the local market is constantly changing.


Does purchase price equal asking price?

No way! Everything is negotiable in real estate. Navigating through bidding wars, figuring out what is included in the price, and knowing when to “low ball” is a great reason to have an agent on your side.


What is earnest money?

Earnest money is a deposit, part of your downpayment, that you submit with your offer to purchase. It lets your seller know you are serious about your offer. It is held by the listing broker until closing. 


How much do I need for a downpayment?

You DO NOT need 20% down to buy a home! Some programs even go as low as 3% of the purchase price. I can refer a few lenders to you that can help you better understand the financing process. 

Update: there are certain areas in Kenosha and Racine that qualify for a grant program, meaning the city will match your payment of 1.5% down to get you to the closing table. Furthermore, if you are looking in the county USDA loans (rural loans) require 0% down!


What are closing costs?

Usually between 1-4% of the purchase price. A range of administrative & transfer fees and lender fees. We will go over what closing costs means for you as the buyer when we meet face to face. And as always, we can negotiate what you pay in our offers.


How long does it take to get to closing day?

At minimum 30 and some over 90 days. There are a lot of reasons a home may take longer to close and varies with every buyer and seller. 

Do I need an attorney?

Great question! For an attorney! Lol.

Currently, in the state of Wisconsin, attorneys are not required while purchasing or selling real estate. If you would like your attorney to be involved or are selling an estate, please let me know if you need a referral.

Katy McCrayComment