Real estate questions answered
Selling & buying FAQs
Plain answers to what homeowners and buyers ask most about agency rules, commissions, preparation timelines and valuations before working with Terra Modern.
01How do buyer agreements and commissions work under current rules?
Under current national MLS rules, buyers sign a written Buyer Representation Agreement before touring homes, setting out the compensation agreed with their broker, just as sellers sign a listing agreement. Buyers often ask in their offer for the seller to pay the buyer-broker fee from closing proceeds, and sellers judge offers on their true net. Every commission rate is negotiable and none is fixed by law.
02Why is an in-home CMA different from an online estimate?
Automated valuations lean on county square-footage records and broad ZIP-code averages. They cannot tell a kitchen stripped to the studs two years ago from 1994 laminate, hear road noise or value good light and flow. Our in-home CMA compares only genuinely similar closed sales from the past 90 to 180 days, giving you a reliable price range and a net-proceeds sheet.
03How far ahead should we get in touch before selling?
Ideally six to ten weeks before your launch date, and earlier if repairs are on your mind. An early meeting tells you which projects to skip and leaves calm time for decluttering, paint, landscaping, staging and photography in the best light.
04How can we buy our next home and sell this one without two mortgages or nowhere to live?
We use four approaches, depending on your equity and local inventory: a short post-closing rent-back, so you sell first and have 30 to 45 days to move; a short-term HELOC or bridge loan; a well-positioned home-sale contingency; or staggered 45- to 60-day escrows.
05Do we need to move out or pay thousands upfront for staging?
Not necessarily. Many of our best sales are lived-in homes where we edit your furniture, add accent pieces, neutral linens and warm lighting, and store the excess for a while. The room-by-room staging consultation and architectural photography are included in full-service listing; if renting furniture for a vacant home makes sense, we obtain direct vendor quotes.
06Do I need mortgage pre-approval before a buyer consultation?
Not for the first strategy session. Meeting first lets us introduce local lenders known for closing on time. Before touring active listings and making offers, though, a fully underwritten pre-approval letter makes your offer far stronger.
07Why do I need my own broker when buying new construction?
The on-site sales associate represents the builder's bottom line, and builders budget for broker co-operation whether or not you bring one, so they rarely cut the base price if you arrive alone. Make sure we accompany or register you on your very first show-home visit so the builder honours your representation.
08Are admin or transaction-coordinator fees added at closing?
No. Some franchise offices add a $495 to $795 compliance fee on top of the agreed commission. At Terra Modern, the fee on page one of your representation agreement is the whole of our brokerage compensation, with no administrative add-ons at closing.
09Are the homes on this site currently available?
This is a demonstration site with illustrative homes. On a live Terra Modern site the gallery is kept current, and sold or withdrawn homes are marked accordingly.