7 Common First Time Home Buyer Questions | Home Buying Questions to Ask

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7 Common First Time Home Buyer Questions | Home Buying Questions to Ask
Arlington VA Real Estate: rhlarlington.c21redwood.com/
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7 Common First Time Home Buyer Questions
0:30 | What's the first step?
1:54 | What is the fee to use a buyer's agent?
4:23 | Is the downpayment part of closing costs?
5:41 | Where does the Earnest Money Deposit (EMD) go towards?
6:57 | Do I have to waive the home inspection to win a multiple offer situation?
9:17 | How do I get out of this contract?
11:21 | Are the sellers trying to pull a fast one on us?
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Matt Leighton - Arlington VA Real Estate Agent
Licensed in VA and D.C.
Century 21 Redwood Realty
1934 Wilson Blvd
Arlington, VA 22201
• 7 Common First Time Ho...

Пікірлер: 126

@ashleyf.6324 5 жыл бұрын

Just wanted to let you know i’m buying my first home on my own and your videos have really really really made sense of everything. I feel much more comfortable about moving forward with what to expect financially, mentally etc. Thank you Thank you! 😊

@TheMattLeighton 5 жыл бұрын

Thank you so much Ashley! I truly appreciate your comment. Best of luck on your purchase and let me know if there's anything I can do to help

@cdiarra 4 жыл бұрын

Ashley f. How do you like your house? I’m looking right now

@theemeraldgamer5123 3 жыл бұрын

I am trying to buy a home for 34000.00 , first time home buyer. Give a example how much it would cost me for down payment, closing costs .

@theemeraldgamer5123 3 жыл бұрын

@@TheMattLeighton I am a first time home buyer and i would like know more about total cost of closing cost and down payment

@universezero2590 3 жыл бұрын

How did it go for you did you purchase your home ? I’m working with an agent and they never go to open homes with me and there is one particular home I am interested and they told me that it wasn’t available when I’m the sites it says it is so I’m confused 😐 whether to stay with an agent

@maril1379 Жыл бұрын

Even good for 2nd time buyers! Thumbs up from New York. I would never skip a home inspection

@SamanthaKamilos 6 жыл бұрын

Just wanted to say a big THANK YOU for all your videos! We are closing on our first home in 2 weeks and your videos have helped explain so much and helped put my mind at ease! You were the first video that I watched when I went searching for advice on youtube! Shame you don't have more subs and views, kinda a tougher channel model since many just come and get the info they need while they are going through the process and then leave when they don't really need the info anymore! I subbed anyway, you never know when I will need this stuff again, it's all very interesting! GREAT channel though, great personality, and high content value! My only requests would be any home OWNER tips you may have, ways to help the home hold its value over time, other helpful info for when you are not buying or selling but in between! I'm sure someday we will need to sell and I will want to prepare for that eventuality the whole time, not just last minute someday in the future! Anyway, thanks again!!!

@TheMattLeighton 6 жыл бұрын

Thanks Samantha! That means a lot to me, really. I appreciate you subscribing. I know the content on my channel may only be useful for people looking to buy real estate. I'm working on broadening the scope to include home owner tips and behind the scenes video of what I do and how I help my clients

@EmmaRoseLondon 4 жыл бұрын

Lovely comment Samantha, I've found myself in a similar position to where you were a year ago writing this comment. So grateful for these tips on KZfaq! It would be a lot tougher if they didnt exist. Hope the house sale went through smoothly :)

@TheMattLeighton 6 жыл бұрын

▶▶▶ Get my new book: 46 Condo Buying Mistakes NOW --> www.amazon.com/Matt-Leighton/e/B00RTVS6PY/

@ChiChiT89 3 жыл бұрын

I'm buying my first home and I must say that this is ALOT of information to take in but great nonetheless. I will have to watch it again. Thanks

@dymirtatem 4 жыл бұрын

Great video! I literally was pre approved for a home loan five minutes prior to launching the KZfaq app. This was the first video in my feed. Lol

@isaiahhiserman4732 3 жыл бұрын

I'm only 19 so I think I'll just stick to renting for a couple more years🤧😂 but it's still good to know these things

@rubyvaldovinos7786 2 жыл бұрын

Very informative! Thank you!

@Billothy69 3 жыл бұрын

I'm gonna be starting to look for a house hopefully sometime soon so I appreciate the clear way you present these videos.

@AlvinSeville1 5 жыл бұрын

I'm buying my first home and it's in another state. I'm trying to go through this step by step and yes, sometimes I get butterflies. The lender seems to be a nice guy and I'm in the process of saving and waiting. Thank you for your time. I could sure use the help!

@TheMattLeighton 5 жыл бұрын

Thanks for watching! Happy to help if you have any questions!

@kimberlygriffin6136 4 жыл бұрын

Today I went to home inspections and I have the best realtor and his name is Frank Mayolo. And thank you for the all the information. 👍❤️

@ThaDonShawn 5 жыл бұрын

Thanks Matt for the videos. Saved on the "admin fee" for the buyers agent by reading the contract and had it waived.

@TheMattLeighton 5 жыл бұрын

Thanks for watching! Glad you saved some money after watching the video!

@reyrallos5042 5 жыл бұрын

Your videos are very helpful and prepares a lot of us first time home buyers to be confident. I'm glad I found this video if I had not I probably would have just sat down and waited couple months or years to buy a house. Time is money for us in the military invest while you're still in. Thank you very much! More power to you Sir!

@TheMattLeighton 5 жыл бұрын

Thanks Rey! I appreciate you watching!

@rcrcapp8855 3 жыл бұрын

Very Helpful!

@maverickhomegroupflorida 3 жыл бұрын

Thank you for sharing those information. This is helpful especially for new home buyers.

@rogeroropeza516 5 жыл бұрын

I'm still looking for a van to live in..

@blue03r6 4 жыл бұрын

Oddly this is very popular and becoming more and more popular

@raquelhenderson9295 5 жыл бұрын

Where should my credit score be for sellers to take me serious??? And if I am buying a two hundred thousand dollar townhome how much should I save up on down payment etc??

@isidoramartinez6510 5 жыл бұрын

My lender does not want to print my pre approval letter. I wonder why? He said he is sending direct to me realtor

@JAVIERMARTINEZ-pn7nm 5 жыл бұрын

I wish you were located in NY, i want to get into buying a house

@joannrandolph7711 Жыл бұрын

I have learned a lot thank u for all the information I needed

@fxbadger 3 жыл бұрын

Great video man ,want to ask...when looking at comps how do l know the condition they were in when they were sold .l'm trying to find the value of a property.Thanks

@jackiefreeman3731 5 жыл бұрын

Is quicken loans god for first time buyer and u a agent in Buford Ga area outside Atlanta

@alloverdaplace2043 5 жыл бұрын

Just started watching your videos. Like the in the past video I commented I forgot to mention I'm a veteran and using the VA home loan assistance for my first home purchase. Do you have any videos with VA info on it? Btw your videos are very helpful! Great knowledge you're giving away. Thank you.

@Listella. Жыл бұрын

We have some VA loan videos on our channel if you're still looking!

@MeuesenexD 5 жыл бұрын

I'm closing Friday! Awesome advice!

@TheMattLeighton 5 жыл бұрын

Congratulations! Thank you!!

@GMU86 5 жыл бұрын

To Follow up Matt, we bought out first home finally. Our buyer is paying the closing cost entirely. Something I haven’t seen anyone talk about is why is there a listing price but when the house is appraised it’s possible the price drops? Also conventional loans appraise homes more appealing to the buyer than other loans. We lucked out we offered what the buyer wants for price wise but appraised way more than the buyer asked for. They also doing the repairs from the home inspection we requested. Key things to look for are big ticket items hvac, roof windows when house shopping. Pictures don’t mean anything we went to see many homes in the Nova area and not what the pictures portrayed so it’s always good to see them in person. Our buyer had well maintained the home 2 year old roof gutters and warranty on hvac, plumbing, and electric on top of giving us home warranty which is common. A lot don’t focus on the outside of the home but the inside which is risky. Bad roof equals wet walls and ceiling down the roads Also look at trees sitting close to roof the trees have acid that could damage the roof. Also the way the house sits on hills if water comes towards to house. Key things to look for when starting your home search.

@DonteeWeaver 5 жыл бұрын

Thanks for the information 👍🏾

@TheMattLeighton 5 жыл бұрын

You're welcome!

@gabev6172 5 жыл бұрын

Like your channel man, surprised you don't have more suscribers

@TheMattLeighton 5 жыл бұрын

Thanks man! I appreciate the kind words

@findioyinthenow 2 жыл бұрын

Great video!

@alexanderstumpf9201 4 жыл бұрын

Great Video; Learned alot. Keep up the great work

@TheMattLeighton 4 жыл бұрын

Thank you!

@aliciaverduzco3491 3 жыл бұрын

I’m just now starting my journey, thank you for this info! #Noted 👍🏼

@TheMattLeighton 3 жыл бұрын

Thanks for watching!

@mantraprenuernetwork6459 6 жыл бұрын

Great stuff!

@TheMattLeighton 6 жыл бұрын

Thank you!

@teresag.tvfilipina4003 2 жыл бұрын

Very informative video

@95tay4lyfe 6 жыл бұрын

I really enjoy your videos. They are very informative for us homebuyers. I have a question. I'm a first time home buyer, and I've just gotten pre approved for a loan. Should I seek the help of a real estate attorney to help guide me through the home buying process? I do have my own real estate agent.

@TheMattLeighton 6 жыл бұрын

Depends on your state. Ask your agent if you need an attorney. In addition, ask others in your area who have bought homes if they used an attorney.

@marcieb9072 4 жыл бұрын

Great

@01059871 5 жыл бұрын

Is it ok to ask for credit to more than one lender? I.e. to have alternatives

@TheMattLeighton 5 жыл бұрын

Yes! Its encouraged to talk to multiple lenders (usually 2-3) to make sure you're getting the best deal. Once you feel comfortable, you will move forward with one lender

@MeuesenexD 5 жыл бұрын

I have a VA loan, so my closing costs are paid via the seller. With Ernest money, where does that go?

@MikeStefanoff 5 жыл бұрын

It can go to the Down

@elnoraabduqadir2297 4 жыл бұрын

Great video. i heard that credit score goes down when yoy get preapprowed from lenders after they run your credit history to buy a house. Is it true and how to avoid it? Thank you.

@blueracer66 4 жыл бұрын

That's true. Lenders do hard credit checks. Each time anyone does a hard credit check your credit score goes down.

@dariushiggs839 3 жыл бұрын

Can you put the home you bought as a first time home buyer into your llc?

@Dazmon3434 5 жыл бұрын

What’s a ideal down payment for a house percentage wise?

@TheMattLeighton 5 жыл бұрын

Really depends on your situation! 20% is ideal, however there are many loan programs out there under 20% that could be very beneficial for the purchaser

@gabrieladu352 5 жыл бұрын

Teach!!!!!

@TheMattLeighton 5 жыл бұрын

🙌🙌🙌

@viralmedianetwork415 4 жыл бұрын

great tips! How do you think these 7 questions differ state by state/market?

@TheMattLeighton 4 жыл бұрын

Yeah they probably will a little bit

@viralmedianetwork415 4 жыл бұрын

@@TheMattLeighton yes, but how was my question.

@hanaxbutu 5 жыл бұрын

There is a community of new built homes being built 5 minutes from me. They just started building last month. Do I need a real estate agent to come with me there? Are the prices negotiable on newly built homes?

@TheMattLeighton 5 жыл бұрын

The prices are negotiable! You don't *need* a real estate agent, however if you're looking for the best deal, it is recommended that you get an agent to represent you and to join you when you tour the community

@user-ov1ge6gw2t 4 жыл бұрын

I’m worrying how to get approved? I want to buy in MD

@EmmaRoseLondon 4 жыл бұрын

Matt, i've been studying your video and taking plenty of notes. I found a great little project house as a first-time buyer *HOWEVER* I am experiencing some serious confusion with the Estate Agents, they seem to contradict eachother and it makes me question if they're bending the truth to manipulate me into offering a higher bid for the property. What would you suggest some of the best tips are for keeping your cool but also conversion to purchasing and closing the deal? Really appreciate any help - I'm trying not to let my emotional attachment affect this bid, I've kept my cool so far just difficult as I don't want my conscious cat and mouse strategy to screw me over. Many thanks in advance, Emma!

@TheMattLeighton 4 жыл бұрын

Thanks for watching Emma! It sounds like you're getting multiple opinions from a few different real estate agents. Are you working exclusively with just one real estate agent? Do you trust your real estate agent? If you are concerned that an agent is bending the truth, I would revisit your relationship with your current buyer's agent to see if you all need to talk some things over or go ahead and move forward with a different agent. Good luck!

@EmmaRoseLondon 4 жыл бұрын

Hey @@TheMattLeighton - Thank you for responding to my comment! The estate agents I referenced in my previous comment are the vendor's agents. There are two reps working for the vendor and they contradict each other which makes me question their honesty and integrity. (I understand they are trying to obtain maximum money for the property but one says the vendor can reduce a max. of £5K and the other says there has been a bid at asking price - which I'm questioning if it is true as it's only been a week since we offered and the property needs some refurbishment; plus, they haven't taken the property off the market). So far we have only put forward one offer and are willing to increase - however asking price is out of our budget. I don't want to play all my cards too early in case they are playing a game; equally, we do really love the property and don't want to miss an amazing opportunity. Thank you for your help!!

@TheMattLeighton 4 жыл бұрын

@@EmmaRoseLondon understood. Thanks for going into detail! I would offer what you're comfortable offering. The estate agents could be playing games with you to get a higher offer or the estate agents could not be communicating with each other and one knows there is an offer and the other was not aware. Either way, go in with a price that is comfortable for you and good luck!

@EmmaRoseLondon 4 жыл бұрын

@@TheMattLeighton Thank you for the rapid response! Will give it our *best* shot! Hope you're having a great weekend. Emma

@abraheeem1 5 жыл бұрын

Please please I need an advice if I can ask you a question

@TheMattLeighton 5 жыл бұрын

Sure! What is your question?

@xeniabucs91 5 жыл бұрын

I just want a 25 thousand dollar house

@cococesar209 5 жыл бұрын

I like your shirt :)

@TheMattLeighton 5 жыл бұрын

Thanks man!

@esthercardenas2490 5 жыл бұрын

But if you back out after giving the check for earnest money and diligence, you lose that money?

@TheMattLeighton 5 жыл бұрын

Not necessarily. Depends on if you still have contingencies. Usually the sale is contingent on a home inspection. So for example, if you back out during the home inspection, you get your earnest money back

@blaket81 6 жыл бұрын

BAM! "It's a seller's market", his words. This is EXACTLY why I have stopped shopping for a house.

@blue03r6 4 жыл бұрын

I'm currently looking and sellers are out of their minds with prices. I'm seeing tiny 900 sqft one bed 1 bath houses that are dumps listed for 150k.

@TheMattLeighton 4 жыл бұрын

Sounds about right 😕

@jehangir1991 4 жыл бұрын

@@blue03r6 thanks a bargain.

@blue03r6 4 жыл бұрын

@@jehangir1991 hope that's sarcasm. I did end up snagging a 3 bed 2 bath 1092 sqft ranch with a full basement and a 2 car garage for 127,500. That's a good deal.

@jehangir1991 4 жыл бұрын

blue03r6 depends on the location really. That price is really cheap for a city like Vancouver, Canada.

@martinxlive5 5 жыл бұрын

Do you work at target? Wheres the shampoo isle?

@bri7014 5 жыл бұрын

Do you still talk to a LOCAL lender if you're wanting to buy in a different state?

@TheMattLeighton 5 жыл бұрын

Good question. I'd say yes for two reasons. 1. They may be licensed in the state you're looking. Or 2. They may know a really good lender in the state you're looking in

@bri7014 5 жыл бұрын

@@TheMattLeighton thankyou!

@MR-AK 3 жыл бұрын

Good stuff. What about when realtors suggest you to always use their preferred title agency?

@TheMattLeighton 3 жыл бұрын

Doesn't really matter for the most part. Just be sure the title company is reputable and not just the real estate agent's uncle's title company

@MR-AK 3 жыл бұрын

@@TheMattLeighton lol @ #unclescompany . Well I can tell you from personal experience that the title companies pile on extraneous "Admin" fees 🙄. When you ask them they can't even explain what it's for? I've been an investor for a decade and unfortunately I've seen it a few times.

@TheMattLeighton 3 жыл бұрын

You're exactly right. Maybe talk to two different companies and see if one will waive some of those fees

@MR-AK 3 жыл бұрын

@@TheMattLeighton Matt you in DMV area or elsewhere?

@TheMattLeighton 3 жыл бұрын

Northern Virginia

@TwinTurboToyota 6 жыл бұрын

Closing on my home next week. Learned a lot from your videos.

@TheMattLeighton 6 жыл бұрын

Congrats! I'll let you know where you can mail my commission check 😉

@just2botheru 3 жыл бұрын

For #6 Appraisal Contingency.

@abraheeem1 5 жыл бұрын

We can afford 400000, and the good houses are cost more then what we able to afford. I found a house that’s really good but all my friends and family didn’t like the area. What shall I do

@TheMattLeighton 5 жыл бұрын

Will you and your family be happy in the house that you found?

@abraheeem1 5 жыл бұрын

I guess yes

@TheMattLeighton 5 жыл бұрын

If you think you and your family will be happy and you can afford the house, I think you've found your answer 😀

@mikchivious 4 жыл бұрын

So I have a realtor that states the seller pays the closing cost and pays her for the service (she’s free for me). She says as long as my credit is over 580 which mine is 805 she could get me in a house with around $1300 to $1500 out of pocket but not all at once.and keep my payments below $700 with taxes and insurance. I live in Oklahoma by the way. Have you heard of this? Any hidden fees? She did say I would have to pay $500 to show that I’m actually interested and then she knows an inspector that I could use for $200 if I wanted to but not required. So ready to buy a house but it is overwhelming because it’s new and don’t know what to expect. I’ve been watching your videos all morning.

@TheMattLeighton 4 жыл бұрын

Thanks for watching! I'm confused about the $500 charge. See if your agent can send you an Estimated Buyer Closing Cost sheet for a property you're interested in. Or ask your agent to give you a line item breakdown of your out-of-pocket closing costs. What you're saying could be possible, I just need more information

@mikchivious 4 жыл бұрын

Matt Leighton I believe by listening to your other videos it’s the EMD. I will definitely ask for the closing cost sheet.

@TheEpiq225 5 жыл бұрын

4:41..."The day you get yer keys right!!?" hahahahahahahahaha

@TheMattLeighton 5 жыл бұрын

Yes!

@TheEpiq225 5 жыл бұрын

@@TheMattLeighton You're fun to watch! And a tramendous wealth of knowledge. Thank you👌🏾

@TheMattLeighton 5 жыл бұрын

Thanks for watching! Really appreciate the support!! 🙏🙏

@valeriebatista9277 5 жыл бұрын

If I"m planning to put a large % down ($90,000 on a home for $118,000), do I still need a letter from a lender?

@TheMattLeighton 5 жыл бұрын

Yes!

@cheque8a 3 жыл бұрын

We are out price absolutely out price 😐

@NoseBleedsPod 4 жыл бұрын

Wacky Mortgage Guy here! Y’all subscribe and see how easy home buying, refinancing, and navigating through purchasing a home/investment property can be!

@briankelly1240 5 жыл бұрын

You asked if 1920 houses still exist. I live in one that was built in 1915, so probably

@TheMattLeighton 5 жыл бұрын

Haha good point. In my area, they are being torn down left and right!

@briankelly1240 5 жыл бұрын

@@TheMattLeighton wow! Yeah, Raleigh NC has some old 'millhouse' neighborhoods. The mill was transformed into apartments, but the houses from back then are still there.

@TheMattLeighton 5 жыл бұрын

Love me some RTP!

@MightyMingos 4 жыл бұрын

I am trying to buy one built in 1900!!

@marynyman Жыл бұрын

Ftc charges when lender pay million fraud gift use me for more property noy involde ftc not help

@compscript7973 4 жыл бұрын

👎 I lost all interest in your channel when you referred to a house costing a half a million dollars. Most of us are not in your millionaire club and I believe that remark is very insulting to a lot of people.

@TheMattLeighton 4 жыл бұрын

Sorry about that Compscript. Many houses in the are I work in are priced around $500,000.