FAQs

A home warranty is a service contract that helps cover repair or replacement costs for major home systems and appliances (HVAC, plumbing, electrical, etc.), typically for the first year after purchase. It’s different from homeowners' insurance, which covers events like fire or theft. Tip: Sellers sometimes include a warranty, or you can purchase one for added protection.

Your first mortgage payment is usually due on the 1st of the second month after your closing date (e.g., close in June → first payment due August 1). Mortgage payments are paid in arrears, so this timing gives you a short cushion after closing.

If the appraisal is lower than the contract price, lenders base loans on the appraised value. Options include renegotiating the price with the seller, paying the difference out of pocket, splitting the gap with the seller; dispute/appeal the appraisal (rare), or canceling if you have an appraisal contingency. I’ll advise the best route for your situation.

Yes. A home inspection evaluates major systems—roof, foundation, HVAC, plumbing, electrical—and identifies safety issues or needed repairs. Use the report to negotiate repairs, request credits, or plan future maintenance.

Yes—get preapproved. It confirms your borrowing capacity, sets a realistic budget, strengthens offers, and shows sellers you’re a serious buyer.

Closing costs typically range from about 2%–5% of the purchase price and include lender fees, title/escrow, prepaid interest, and taxes. Your lender will provide a Loan Estimate with expected costs.

Earnest money is a deposit showing your good-faith intent; it’s held in escrow and applied to your down payment/closing costs. Typical amounts are 1%–3% of the purchase price, depending on market competitiveness.

Consider commute, schools, safety, amenities, future development, taxes, and resale potential. I provide neighborhood tours, school and commute data, and local market insights to match your lifestyle.

Timing is key. Options include bridge loans, rent-back agreements, or coordinated closings. I’ll help structure contingencies and timelines and connect you with lenders experienced in simultaneous transactions.

Escrow is a neutral third party that holds money and documents during the homebuying process to ensure contract terms are met. The escrow company manages your deposit, coordinates paperwork, and transfers funds at closing to officially record the sale.

Earnest money is typically due within 5 business days after going under contract (timing set in the contract). Expect to provide about 1%–3% of the purchase price (e.g., $4,000–$12,000 on a $400,000 home). This deposit goes toward closing costs or down payment and signals seriousness to the seller.

In most cases the seller pays real estate commissions for both the seller’s agent and the buyer’s agent, so buyers generally don’t pay their agent out of pocket for representation. This is common but not guaranteed—every transaction is different. Kristy will confirm whether the seller is offering compensation before any showing so you have full clarity on agent fees.

Contact Kristy at kristy.robbins@cbrealty.com or 608‑630‑3899 or visit kristyrobbinsrealestate.com to schedule a consultation. I’ll walk you through financing options, neighborhood fit, and each step of the buying process.