Buying Your Home - Frequently Asked Questions

Buying residential real estate can be both an exciting and stressful process. Our team can help with attorney review, inspection issues, financing and the closing.

Real Estate Contract FAQ's

What is Attorney Review?

How long do I have to cancel the contract?

Does LoMonaco Law make contract modifications to the standard multi-board contract?

My Realtor said I need a real estate attorney, is that correct?

How much do you charge for a closing?

Can your fees ever increase?

How do your fees get paid?

There are items of personal property that my realtor forgot to check on the first page of the contract, what do i do?

The contract says i owe additional earnest money x days after a/i or aa, what is that?

Who holds the earnest money?

My realtor is acting as a dual agent. What does that mean and is it normal?

Who is going to be on title?

I want my spouse to be on the title even though they are not on the mortgage, is that ok?

Real Estate Home Inspection FAQ's

Do i need an inspection?

When should i have the inspection performed?

Will the seller fix all the items my inspector noted on the inspection summary report?

How do i know what is defective or non-operational?

Will you send the entire inspection report to the sellers?

Will you or my realtor help me figure out what to ask the sellers to repair?

My inspector noted something serious during the inspection and i want a professional to assess it before i decide to move forward with this purchase, can i do that?

The inspector told me about a problem with the house but forgot to put it on the inspection report. Can i still ask for it to be repaired?

What is the process for having the seller make the repairs?

What if i do not have enough time to have the inspection performed, get the report, review it and send the list to you in the first five days?

What if there are just too many issues with the home and i do not want to buy it anymore?

Should i get a radon test?

I had a radon test performed and the results won’t be ready until for a few days, should i still send you the list of all the other repair items?

I initialed the paragraph of the contract that says the house is “as is.” Can i still have the seller repair items i found during the inspection?

How long do the sellers have to respond to our repair requests?

How do we know the seller made the repairs?

Can the seller counter-offer my repair requests?

Can the seller cancel the contract after I request repairs?

If the deal falls through as a result of the inspection issues, will I get my earnest money back?

What if I think the sellers are being unreasonable with their inspection related responses?

Can I receive a credit rather than having the seller fix the item?

Can I tell the seller whom they must hire to make the repair?

When will I receive the receipts for the work performed?

I want to be there when the contractor does the repair to the home, is this possible?

Real Estate Closing Home Buyer Loan FAQ's

How do I know which lender to choose?

What do I need to do to make sure I close on time?

What is the appraisal and how does it work?

What if the home appraises for less than the purchase price?

What if the home appraises for more than the purchase price?

What is the mortgage contingency?

What is the clear to close date?

What is the mortgage contingency date?

What if I do not have a clear to close by my mortgage contingency date?

Can I change my lender if I am unhappy with them?

What is the closing disclosure?

What is TRID?

Real Estate Closing FAQ's

When do we schedule the closing?

Do I get to pick the time of closing?

How long will the closing take?

Where will the closing be?

What do I need to bring to the closing?

What do we do at the closing?

How much money do I need to bring?

When will I get the final amount i need to bring to closing?

What form does the money for closing need to be?

Where can I get the wiring instructions?

Where can I get the contact information for the title company we are closing?

What if I think the settlement statement or the closing disclosure is wrong?

What if the seller wants to stay in possession of the home after the closing?

Real Estate Closing Title Insurance FAQ's

What is title insurance?

How much is my title insurance?

Real Estate Closing Final Walk-Through FAQ's

What is the final walk-through and when do i do it?

What condition must the property be in at the time of the final walk-through?

What if the home has been damaged between the time I made the offer and the final walk-through? Or what if the seller left behind a bunch of items I did not want?

Will the seller’s professionally clean the home prior to closing?