Home Buying FAQ

Straight Answers to Real Questions from Real Buyers

Presented by The Coastal Collective Group | Keller Williams Realty

🔰 Getting Started

“I want to buy a home. Where do I start?”

You're not alone—this is the #1 question we get!

Here’s a simple roadmap:

1. Schedule a discovery chat with a trusted local agent (that’s us 😊). We’ll talk about your goals, lifestyle, and timeline.

2. Get pre-approved for a mortgage. We can recommend some amazing local lender that will be able to tell you what you can afford and help strengthen your offers.

3. Create your wishlist – number of bedrooms, location, style, etc.

4. Start house hunting – online and in person.

5. Make an offer once you find the one.

We’ll guide you through every step from “just thinking about it” to “keys in hand.”

💵 Financing & Pre-Approval

“Do I really need to get pre-approved first?”

Yes ABSOLUTELY!—before you go house shopping. Why?

• You’ll know your exact budget.

• Sellers take you seriously (especially in a competitive market).

• It speeds up the process when you’re ready to make an offer.

We can connect you with trusted, local lenders who offer low-pressure pre-approvals and explain your financing options.

“How much do I need for a down payment?”

It depends on the loan:

• Conventional: as little as 3% down (though 20% helps avoid PMI)

• FHA: 3.5% down (great for first-time buyers)

• VA/USDA: 0% down if you qualify

There are also local and state grant programs that may help cover part of your down payment or closing costs—we’ll help you explore those options.

“What’s included in closing costs?”

Closing costs typically range from 2% to 5% of the purchase price and cover:

• Lender fees

• Title insurance & attorney/title company fees

• Appraisal & home inspection

• Transfer taxes & recording fees

• Escrow deposits for taxes and insurance

We’ll estimate your closing costs up front so there are no surprises later.

🏠 The Home Search

“How do I find the right home?”

We’ll narrow it down based on your lifestyle, budget, and wishlist. Then we:

• Tour homes together (virtually or in person)

• Watch new listings daily

• Keep an eye out for off-market and coming-soon opportunities
  We’ll ask the right questions to ensure the home fits your future, not just your present.

• Contact off market property owners, that fall into your criteria, to see if they are interested in selling.

“How do I know if the neighborhood is good?”

“Good” is subjective, so we focus on what matters to YOU:

• School ratings?

• Walkability?

• Commute time?

• Low taxes?

• Peace and quiet?

We’ll provide your with the tools to research schools, crime stats, and local insights. Pro tip: visit at different times of day, walk around, and chat with neighbors.

🔍 Inspections & Contingencies

“What’s a home inspection, and do I need one?”

YES. A home inspection gives you a detailed report of the property’s condition—including:

• Roof, HVAC, plumbing, electrical

• Foundation & structure

• Appliances, windows, insulation, drainage

If problems come up, you can ask for repairs, credits, or walk away if it’s serious. It’s your best protection as a buyer.

“Can I back out of a contract?”

In most cases, yes—within your contingency periods. Common contingencies include:

• Home inspection

• Financing

• Appraisal

If you cancel for a covered reason within these timeframes, you’ll usually get your deposit back. If you do not have any contingencies then you will not be able to back out without repercussions. 

📑 Making an Offer

“How do I know what to offer?”

We analyze:

• Comparable home sales

• Days on market

• Seller motivation

• Market trends

Then we craft a competitive offer that protects your interests—while giving you the best chance at winning the home.

“How much earnest money do I need?”

Typically 1–2% of the purchase price, paid within a few days of contract acceptance. This deposit shows good faith and is credited toward your closing costs.

📅 Closing the Deal

“How long does it take to buy a home?”

From offer to closing: usually 30–45 days (sometimes faster with cash or a motivated lender). Here’s a rough timeline:

1. ✅ Offer accepted

2. 🕵️‍♂️ Home inspection (within 10 days)

3. 🏦 Appraisal & underwriting

4. ✍️ Final loan approval & clear to close

5. 🔑 Settlement day – you get the keys!

We’ll manage the timeline and coordinate all the moving parts—you just pack.

“What happens on closing day?”

• You’ll sign the final paperwork (either in person or remotely)

• Your loan funds and the deed is recorded

• We hand you the keys and celebrate 🎉

You’re officially a homeowner!

🙋‍♀️ Still Have Questions?

We’ve helped over 100 families make smart, confident decisions when buying a home—and we’re happy to help you too. Whether you're 6 months out or ready next week, let's connect!

📲 Call or text Krystal at (302) 604-4683 cell | (302)360-0300 office
📧 Krystal@delawarebeachomes.com
🌐 www.delawarebeachomes.com

Keller Wiliams Realty | 39682 Sunrise Ct, Bethany Beach, DE 19930