GFG

REAL ESTATE

UNLOCK THE ANSWERS TO YOUR MOST FREQUENTLY ASKED QUESTIONS

Beautiful modern farmhouse in Big Flat location in Missoula, MT

Exploring the world of real estate can often feel like navigating a maze with its jargon, paperwork, and tough decisions. To help you feel more confident, we created a list of frequently asked questions.

 

Whether you are buying, selling, or simply curious, we aim to clarify the process and make it as straightforward and stress-free as possible. Let's clear up any uncertainties so you can focus on finding your perfect home!

BUYING & SELLING

Working with a real estate agent isn't required for buying or selling a home, but there are some compelling reasons to do so. Numerous steps, legal and financial documents, disclosures, and more are involved in ensuring a successful transaction. We provide expert guidance, saving you time and reducing stress.

Working with an agent also offers other benefits. You need a representative who can provide informed and objective advice while working to achieve your real estate goals. Our goal is to be the best real estate agents in Montana, ensuring that we meet your objectives, maximize your property search, connect you with contractors, and be your strongest advocate when it's time to negotiate.

We are committed to providing you with the best real estate experience with dedication, integrity, and community involvement. As active members of NAR (National Association of Realtors), we demonstrate our commitment to performing our job excellently while adhering to a strict code of ethics.

When selling your home, you likely have a specific timeline in mind, whether it's due to relocation or the desire for a quick sale. The time it takes to sell a house varies based on individual circumstances and the complexities of the process. Still, we aim to ensure a smooth, transparent, efficient, and profitable experience for you.

Several factors, such as price range, location, and seasonal trends, can impact how long a home stays on the market. Missoula is currently a 'seller's market,' resulting in faster sales and higher prices. On average, homes sell in around 50 days, but individual cases vary widely. Some homes sell in under a month, while others can remain on the market for over 90 days. It's crucial to set the right price based on current market conditions and effectively market your home across numerous real esate platforms to reach potential buyers.

We offer our sellers an updated comparative market analysis (CMA) that provides market statistics, details of similar homes sold in your area, and their selling timeframes. The time a home spends on the market can change based on its unique features, potential issues, and listing price. Our priority is to provide you with as much information as possible to facilitate a quick and profitable sale of your home.

The term "closing costs" can be a bit confusing. Although most people know it is a crucial part of purchasing a home, it is not uncommon to have questions about what they include. It is important to distinguish between "closing costs" and "closing fees."

Closing costs are the essential expenses the bank requires to prepare and finalize the loan. These expenses may include mortgage origination fees, DNRC water right transfers, appraisals, title insurance, homeowners insurance, property tax, and escrow fees.

On the other hand, closing fees are payments made to the title company and cover essential expenses such as title insurance, which Montana State Law mandates, and the filing of documents with the city and county for deed exchanges, among other things.

It's important to emphasize that closing costs and fees can be negotiated between buyers and sellers. We are here to help you understand the difference and guide you through every step of the process.

GFG is committed to transparency in our compensation. Our belief in fair pricing for our expert services allows for negotiation. While some agents may offer discounted services, this can result in a discounted product. We shoulder the costs of marketing your home, from photos and staging to marketing ads, because we only receive compensation if the home closes. We are fully invested in securing the best possible deal for you.

Performing a home inspection is not mandatory, but we highly recommend it. We have a network of trusted professional home inspectors who conduct thorough examinations of properties. If any issues arise, we are in your corner to advocate for their resolution, providing you with the assurance you need for your purchase.

Our team closely tracks market trends and statistics to provide a comprehensive report on the selling prices of comparable homes in your area. Using these tools, we create a pricing strategy that sets your home sale up for success and reduces the chances of needing to reduce the listing price while it is on the market.

Proper pricing is essential to avoid prolonged time on the market and potential negative buyer assumptions. This proactive approach helps optimize the selling price and ensures a smoother transaction.

Both processes rely on the expert guidance and knowledge of a qualified agent. They both begin with an initial buyer or seller consultation to get to know each other and see if we are a good fit. If all parties feel confident in our collaboration, we move forward and get to work!

During our initial consultation, we will openly discuss our expectations and listen to your expectations of us. Following that, we will either start looking for homes and preparing you to make offers or begin researching the home you want to sell. We aim to ensure that when your home goes live on the market, it is showcased with top-notch marketing and that we navigate any potential hiccups to make the transaction as smooth as possible.

MORTGAGE, CREDIT & FINANCE

If you're taking out a loan, most banks and mortgage companies will expect you to make a down payment. One exception is VA loans, where veterans may qualify for a loan with a favorable rate and 0% down. Not all agents are experienced in working with VA clients, but at GFG, we have a strong track record of helping VA clients purchase their dream homes, even in competitive markets with multiple offers. Down payments can vary from 3.5% to higher. A 20% down payment was required to avoid mortgage insurance in the past, but lending rules have evolved.

It's best to consult with your lender to determine the best approach for you.

We strongly encourage the pre-approval process to be the first step in buying a home to help with this question. We can connect you with some of the best lenders in the area who will review your finances with you and help determine a comfortable spending range to achieve your real estate goals.

At GFG, we work closely with your lender to help you find the best house at the lowest possible price. Lenders may suggest following the '28% mortgage rule.' This rule means that 28% or less of your gross monthly income would go toward your mortgage. Your monthly payment also depends on your down payment, interest rate, and taxes. Discussing these questions with a qualified lender is essential to ensure you are set up for financial success as a new homeowner.

GFG REAL ESTATE

We are proud experts in most of Western Montana, from Butte to Superior, down to Darby, and up to the Flathead Lake area. If you're in search of property outside that area, we are still here to assist you. If you have a different requirement, we have a network of professional agents eager to provide you with exceptional service.

We have 10+ years of combined experience in real estate and have consistently ranked among the top performers compared to our peers.

We established GFG to provide top-notch service to all our clients. We take pride in our communication and availability. When you choose to work with Chris or Zach, you essentially get two agents for the price of one, giving you an advantage in our competitive market. With both of us working collaboratively, you will always be able to reach one of us and have timely responses for any needs.

Having spent most of our lives in Missoula, we have extensive resources and personal connections. Whether you need an emergency plumber, a tree trimmer, a city official, a sanitation worker, or even someone to repair your vintage grandfather clock, we know someone who can help you with whatever issue arises, even beyond real estate.

Still have questions? Don't hesitate to contact us! We're here to help and ensure you feel informed and confident every step of the way.