Real Estate FAQs
Financing
Most buyers choose between conventional loans and government‐backed loans. Conventional loans usually require higher credit scores and larger down payments but can offer competitive interest rates. Government‐backed programs, such as FHA loans (low down payment), VA loans (for eligible veterans and service members) and USDA loans (rural housing), provide more flexible requirements and lower down payments. Your choice will depend on factors like your credit history, income, property location and whether you are a first‐time buyer.
To explore which programs you may qualify for, start with a consultation on our Get Pre‐Approved page, and browse our neighborhood guides like Amherst or Williamsville to see how loan limits vary by area.
Yes, pre‐approval is one of the most important first steps in the home‐buying process. A pre‐approval letter shows sellers that you are a serious buyer, clarifies how much house you can afford and can help you compete in a tight market. In our 2025 Housing Outlook, we note that mortgage rates are currently in the low‐to‐mid 6 % range and encourage buyers to be pre‐approved and flexible when making offers. Pre‐approval also uncovers any credit issues early and gives you time to address them.
Get started by connecting with a lender through our Get Pre‐Approved resource or using our Mortgage Calculator to explore monthly payments.
A common benchmark for conventional mortgages is 20% of the purchase price, but many homebuyers put down less. In fact, some government‐backed loans such as FHA mortgages accept down payments as low as 3.5 %, which can be an attractive option for first‐time buyers or those rebuilding credit. Your optimal down‐payment amount will depend on your credit score, debt‐to‐income ratio, and the type of loan you choose. Remember that a larger down payment lowers your monthly mortgage payment and can eliminate the need for private mortgage insurance, while a smaller down payment keeps more cash available for repairs or moving costs.
For personalized guidance, explore our Get Pre‐Approved page and discuss financing options with a trusted lender.
Inspections
Home inspection costs vary based on the size, age and location of the property. In New York, the average inspection costs $325–$425, while an inspection in Buffalo typically costs about $312. Larger homes with more complex systems or additional services (such as radon testing or well/septic evaluations) will increase the price. While it may seem like an added expense, an inspection can save you thousands by revealing hidden problems before you finalize the purchase. We recommend budgeting for this cost early in your home‐buying timeline and using our Moving Services and Preferred Builders resources to connect with local experts.
A standard home inspection covers all the visible and accessible areas of the property. Inspectors typically review the foundation and basement, exterior walls, roof, attic, plumbing systems, electrical wiring, heating/cooling systems, windows and doors, and major appliances. They also test smoke detectors and look for signs of pests or water damage. Optional add-on inspections, like radon, mold, or sewer line scopes may be recommended depending on the age and location of the home. After the inspection, you’ll receive a written report detailing any issues and suggested repairs. Use this document to negotiate with the seller or plan future maintenance.
Find trusted professionals through our Preferred Builders and explore neighborhood information pages like Tonawanda for local insights.
A home inspection provides a detailed health check on the property’s structure and systems. Trained inspectors evaluate the foundation, roof, electrical, plumbing, HVAC and more, identifying safety issues and necessary repairs. For buyers, inspections add leverage during negotiations. If major defects are found, you can request repairs, a price adjustment or withdraw your offer. For sellers, pre‐listing inspections uncover issues that might delay closing. Given that the average cost of a home inspection in New York ranges from $325 to $425 and around $312 in Buffalo, it’s a worthwhile investment to protect one of your largest financial decisions.
When you’re ready to schedule an inspection, reach out via our Preferred Builders page or through our contact form.
Offers
Response times vary based on market conditions and seller preferences. In a balanced market, sellers typically respond within 24–72 hours, but in competitive situations they may delay while reviewing multiple offers. Sellers can accept, reject or counter your offer. If you receive a counteroffer, you’ll need to respond by the deadline specified, usually within one or two days. To stay proactive, maintain open communication with your agent and be prepared to act quickly.
Our team monitors all negotiations closely, so contact us through the Contact Us page for personalized advice.
Contingencies protect you if certain conditions aren’t met. The most common contingencies are inspection, financing and appraisal. An inspection contingency allows you to renegotiate or back out if significant defects are discovered. A financing contingency gives you time to secure final mortgage approval. An appraisal contingency ensures the property’s appraised value meets or exceeds the purchase price. Depending on your situation, you might also include a home‐sale contingency (if you need to sell your current home first) or a title contingency (to resolve liens). Keep in mind that fewer contingencies make your offer more attractive, but removing them increases risk.
Discuss the best strategy with your agent, and learn more about preparing strong offers on our Get Pre‐Approved page.
Your offer price should reflect both your budget and the home’s market value. Start by reviewing recent comparable sales in the neighborhood (commonly called “comps”), looking at factors such as size, age, condition and location. Current market trends, such as low inventory or rising interest rates can influence whether you need to offer above the list price to remain competitive. An experienced agent will prepare a comparative market analysis and guide you on an appropriate range.
We also recommend reading our 2025 Housing Outlook to understand local trends. Ultimately, the best offer is one that meets your needs and stands out to the seller
without overextending your budget.
Closing Costs
Closing costs are typically paid at the closing appointment, which occurs after your mortgage is fully approved and all contingencies are satisfied. You’ll receive a Closing Disclosure at least three business days before closing, detailing your final loan terms and costs. Review this document carefully and ask questions if anything is unclear. On the day of closing, you’ll bring a cashier’s check or arrange a wire transfer to cover the remaining balance. Planning ahead ensures there are no last‐minute delays, explore our Moving Services to coordinate the transition to your new home.
Both buyers and sellers contribute to closing costs, though the distribution depends on the transaction and local customs. Buyers usually cover lender‐related fees (application, underwriting, appraisal) and recording fees. Sellers often pay real‐estate commissions and may agree to cover some of the buyer’s costs as part of the negotiation. The total cost for sellers can range from 2% – 4% of the sale price, but including commissions it may be 8% – 10%. Your agent will review the settlement statement with you so there are no surprises on closing day.
Learn more by exploring our neighborhood pages, such as Lancaster, to see how closing costs can vary by area.
Closing costs are the fees paid to finalize a real‐estate transaction. These costs cover items like loan origination fees, appraisal, title search, legal services, homeowner’s insurance and property taxes. Buyers typically pay 2% – 6% of the purchase price in closing costs, while sellers may pay about 2% – 4%, or up to 8% – 10% when factoring in agent commissions. Actual amounts vary depending on the loan type, property location and local taxes.
For an estimate tailored to your situation, review our Get Pre‐Approved resources and consult with a lender.
Timelines
Several factors can delay closing: major issues uncovered during inspection, appraisal valuations that come in below the agreed price, title defects (like liens or ownership disputes), incomplete documentation for your mortgage, or last‐minute credit changes. Clear communication and proactive preparation help avoid delays. Address any repair requests promptly, respond quickly to lender inquiries, and avoid taking on new debt before closing. Learn more about common challenges and how to navigate them in our Preferred Builders and Contact Us resources.
Possession is negotiated in the contract. In most cases, buyers receive the keys on closing day and can move immediately. Sometimes sellers need a “rent‐back” period, allowing them to remain in the home for a short time (usually a few days to two weeks) while they finalize their own move. These details should be clearly spelled out in the purchase agreement to avoid misunderstandings. If you need extra time, discuss options with your agent during negotiations. Our Moving Services can help you coordinate a seamless transition so you know exactly when to schedule movers and utilities.
The timeline varies by market and personal circumstances, but a typical purchase takes 8–12 weeks from the initial search to move‐in. Here’s a general breakdown:
1) Pre‐approval (a few days)
2) Home search (2–6 weeks depending on inventory)
3) Offer and negotiation (1 week)
4) Contract period (4–6 weeks for inspections, appraisal and underwriting)
5) Closing (1 day)
Delays can occur if there are inspection issues, appraisal gaps or title problems, so working with an experienced agent is crucial. Visit our Amherst or Orchard Park pages to understand local market conditions that influence timelines.
Moving Services
Absolutely. Our team helps buyers and sellers navigate every aspect of relocation, from recommending movers to introducing you to local service providers and community resources. We can connect you with contractors, cleaners, storage facilities and even schools or daycare options. If you’re moving to a new neighborhood, explore our detailed guides, such as West Seneca or Buffalo, to learn about amenities, schools and commute times.
For personal assistance, please reach out via our Contact Us page.
Preparation is key to a smooth move. Start by decluttering and donating items you no longer need. Gather packing supplies (boxes, tape, markers) and label each box by room. Schedule utility transfers or setup at your new home to avoid service gaps. If you’re moving with pets or children, arrange care for them on moving day. Check with your homeowners’ association or local municipality for parking or elevator reservations. Using our Moving Services resource, you can find companies that offer packing assistance and checklists to streamline the process. Remember to pack an “essentials” box with toiletries, chargers, and documents you’ll need immediately after moving.
We work with experienced local movers who understand the unique demands of Western New York’s neighborhoods. Our Moving Services resource connects you with vetted companies that handle everything from packing and transportation to storage. Whether you’re relocating to a nearby suburb or across state lines, hiring professionals reduces stress and protects your belongings. Ask our team for personalized recommendations based on your timeline and budget, and
consider scheduling movers early especially during the busy summer months.