Buying and Selling Real Estate: Your Most Common Questions Answered

Whether you’re buying your first home, moving up, or thinking about selling, most people have the same questions. Below are the most common buyer and seller FAQs I hear every week, answered honestly and clearly so you can make confident decisions.

Buyer FAQs

Do I need to get pre-approved before looking at homes?

Yes. A mortgage pre-approval gives you clarity on your budget, strengthens your offer, and prevents disappointment. In competitive situations, sellers often won’t consider offers without one.

How much do I need for a down payment?

In Canada, the minimum down payment depends on the purchase price:

• 5% on the first $500,000

• 10% on the portion between $500,000 and $999,999

• 20% for homes $1 million and over

Additional costs like land transfer tax, legal fees, and moving expenses should also be planned for.

Should I wait for the market to change before buying?

Timing the market is difficult. The better question is whether buying fits your life, finances, and long-term plans. Interest rates, inventory, and pricing all matter, but personal timing often matters more.

What costs should I expect beyond the purchase price?

Buyers should budget for:

• Land transfer tax

• Legal fees

• Home inspection

• Appraisal (if required by lender)

• Moving costs

• Adjustments on closing (taxes, utilities)

I walk buyers through these early so there are no surprises.

Can I buy and sell at the same time?

Yes, and many people do. The key is proper planning, timing, and clear conditions. This is where strategy matters most, especially in changing markets.

Seller FAQs

How do I know what my home is worth?

Your home’s value is based on recent comparable sales, current competition, market conditions, and your home’s features and condition. Online estimates are a starting point, not a pricing strategy.

Should I list now or wait?

There’s no universal “best” time. The right timing depends on your goals, market conditions, and competition in your specific neighbourhood. Sometimes waiting helps. Other times it costs you momentum.

Do I need to stage my home?

Not always, but presentation matters. Some homes need full staging, others just decluttering, minor updates, or strategic furniture placement. I tailor recommendations based on return on investment.

What costs are involved in selling?

Typical selling costs include:

• Realtor commission

• Legal fees

• Mortgage discharge fees (if applicable)

• Staging or prep costs (optional but strategic and some is covered by me)

These are reviewed upfront so you can plan clearly.

What happens if my home doesn’t sell?

If a home doesn’t sell, we reassess pricing, presentation, and market feedback. Transparency is key. A plan B should always exist before you list.

Questions Buyers and Sellers Ask Alike

Is the market good right now?

Markets are never simply “good” or “bad.” They’re strategic. The best results come from understanding what’s happening locally, not nationally, and adjusting your approach accordingly.

How long does the process take?

• Buying: typically 30–90 days from accepted offer to closing

• Selling: varies based on pricing, demand, and timing

Every situation is different, which is why personalized advice matters.

Why should I work with a local real estate professional?

Local knowledge affects pricing, negotiation, and timing. Understanding micro-markets within Durham Region can be the difference between overpaying or underselling and getting it right.

Final Thoughts

Real estate decisions are big, and good information makes them easier. The right strategy is never one-size-fits-all. If you’re thinking about buying or selling in Durham Region, the smartest first step is a conversation, not a commitment.

If you’d like answers specific to your situation, I’m always happy to help.