FAQ - Avenue3 Realty

What do I need to do to start the homebuying process?

First step when deciding to buy a home is to get pre-approved by a Mortgage Lender. They will review your financials, and let you know how much you need to put down and what your maximum purchase price to buy. Not sure who to contact, ask an Avenue3 Realtor and they can give you referrals. During this time, connect with a top realtor to discuss what neighborhoods and property aspects you want so that they can get you started with your property search once you have the green light from your Mortgage Lender.

Does submitting an offer commit me to buying a property?

Absolutely not! Submitting an offer gives you the opportunity to purchase the property by submitting price, terms and conditions that you as the Buyer would be willing to agree to purchase the home. If the Seller accepts or counters your offer, you still have the right to walk away.

What are closing costs?

Closing costs will vary depending on purchase price, loan terms and other transactional fees. Typically you can expect closing costs to range from 2-5% of the purchase price of the property you are buying. A Buyer’s down payment is not considered closing costs. Example of closing costs that are common in most transactions: Escrow fees, title fees, loan origination fees, appraisal expense, home inspection cost, private mortgage insurance, property taxes, homeowners insurance, etc.

What areas do you service?

Avenue3 Realty covers All of San Diego County as well as South Orange County. Whether you are buying your first home or looking for an investment property, there are so many great neighborhoods to choose from. Downtown San Diego, East County; Santee, La Mesa, Spring Valley. Ramona, Poway and Fallbrook. Del Cerro, San Carlos or Allied Gardens. Tierrasanta, Clairemont, Mira Mesa, UTC, La Jolla, Del Mar, Rancho Santa Fe, Solana Beach, Cardiff by the Sea, Encinitas, La Costa, Carlsbad, San Marcos, Vista, Oceanside and many other great communities.

Where can I find more information about a neighborhood?

You can find out more information about nearby schools, median home values, walkability, and much more by reviewing the “Schools” and “Neighborhood” sections of a home’s listing page. Another great resource is Walkscore.com that offers data such as crime, local businesses in the neighborhood, commuting, lifestyle and much more.

Should I attend Open Houses without my Realtor?

Open Houses are a great way for buyers to view homes without a set appointment or coordinating schedules. If you stumble upon an open house feel free to stop in on your own to take a peek. Here are a few best practices to keep in mind if attending an open house:

(1) Let the Showing Agent know that you are being represented by a Realtor and provide their contact information so they can follow up with your Realtor after for questions, feedback and to gauge if you will be presenting an offer.

(2) If during the open house you have questions about the property, feel free to ask the Showing Agent who is onsite.

(3) Take notes, photos & videos while there. Hone in on what characteristics and features you love but also to notate what you didn’t like about the property. Include questions that you have for your Realtor that will help you decide whether or not you want to pursue making an offer on the home.

(4) Avoid sharing too much information with the Showing Agent that can affect future negotiations. Details such as to what you can afford, timing of moving, or other leverage should be kept hushed.

What if my home doesn't need renovation?

Many of our clients live in a home that is already in great condition and doesn’t need a lot of work. In selling your home, it is most important to ensure that when you list your home you capture buyers’ attention immediately. First impressions have a huge impact on the ability of a house to sell quickly. In most cases, even the most up-to-date homes have, at the very least, safety and code issues that need to be addressed. While most real estate agents may give you a list of items to do on your own—or may not even be aware of what issues need to be addressed—we are able to manage the process and take care of it, with no hassle to you.

What happens if the home doesn't sell?

Before you sign the contract, we run a market analysis with properties in your neighborhood and review all comparable properties with you to agree on a price that is fair market value. Because we have a vested interest in the sale of your property, we work very hard to get your property sold for the right price quickly. We will work diligently with you to review all possible solutions.

How long will construction and repairs take?

Each property is evaluated on an individual basis and varies depending on the amount of work and repairs needed to have the property ready for sale. When we complete your home evaluation, we will give you a very detailed assessment of the needs and the timing. On average, renovations take three to four weeks from the date the construction begins.

How are funds repaid for the home improvement costs?

All funds are advanced by Avenue3 Realty and deferred until the property is sold. You do not have to pay out-of-pocket for any costs during remodeling.

If I am in a financial hardship and can't afford my mortgage, bills and the cost of moving, then what?

We are a full-service company that is here to help alleviate the stress and financial hardship. As long as the property has sufficient equity, we are able to arrange for funds to help carry you through the process to ensure that you are taken care of. Our seller’s assistance varies from case to case, but we can help with a wide range of needs including mortgage payments, medical bills, deposits on your new home, moving expenses and other expenses that you may be facing.

How do we decide on which improvements to make?

You will be provided with an extensive home evaluation that is based upon the recommendations of our experienced team. The recommendation will take into consideration your goals for the sale, the least amount of repairs and renovation needed to make your home appealing to buyers and maximize your profit, along with the market trends for recent sales. Working together with you, we determine the best and most cost-effective improvements to make.description

What if we don't agree on which improvements to make?

We want you to be in agreement and happy with the entire process from start to finish, so you as the homeowner have the ultimate decision-making authority regarding which improvements will be made prior to the commencement of the contract and work starting

Will I receive a copy of the repairs and pricing that you intend to make?

Item description During our evaluation, you will be provided a detailed Scope of Work with Avenue3 Realty recommendations that will achieve the maximum profit from the sale of your home.

What if there are any issues with any of the work that has been done?

As a service to sellers, we warranty all work that we perform on your property for one year from the date home improvements have been completed.

Interested in learning more about our services? Contact us today!

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