Simple answers to frequent questions

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Residential FAQs
What would you like to know?

FAQ's For Sellers

  • How long will it take for our home to sell?

    If marketed and priced correctly we estimate between 5 to 10 days in today’s market based on our track record and best knowledge.

  • Should we have an appraisal done first?

    No. It’s not necessary. You’re hiring Team Gough to pull the exact same information as an appraiser would to verify the ideal price except we might know a bit more about the market and comps (competition).

  • Should we have a home inspection completed first?

    Yes. This allows you to have more control for when a potential buyer finds out any issues or potential repair/upgrade items for your home. This way you have the advantage of knowing first!

  • If I’m in a short sale situation should I continue making my mortgage payments?

    This required further discussion if you’re in a short sale situation. Contact me here or read more about this here.

  • Are you willing to reduce your commission?

    No. This commission is just as important to us as selling your home is to you. We’re out there fighting hard to sell your home and this is a driving force behind our efforts. Similarly, would you ask a Chef, Doctor, or Mechanic the same question?

FAQ's For Buyers

  • Should I get qualified first?

    Yes! It’s vital to know your financial and lending situation before embarking on the process of purchasing a home.

  • Am I a ‘zero down’ candidate?

    There are certain qualifications and certain areas they have to be purchased in such as rural areas and typically the interest rates are a little higher to counterbalance. Contact me for more specific details on this.

  • If I have poor credit but a large down payment can I still purchase or finance a home?

    The short answer is yes. There are several ways to work around this situation and it’s typically on a case by case basis. We would likely search for a portfolio lender that will overlook this with a certain amount/percentage of equity up front.

  • How long following a bankruptcy (or BK) do I need until being eligible to finance a home?

    2 years. You want to begin your search to this mark so you’re ahead of the game. Once your ‘dissolution of bankruptcy’ goes through you’re in the clear.

Investing Faqs
What would you like to know?

  • How difficult is it to purchase an investment property?

    With the right education, it’s actually much simpler than one may think. However, this must be done with a very good idea of the parameters involved.

  • What is a typical percentage of the overall investment price tag required from me?

    Only 20%.

  • Can you view property prior to purchasing?

    Yes. You can always view the property from the exterior,  and a majority of the time viewing the interior is an option. Again, with research and knowledge, there is more flexibility.

  • Can we back out of the property post purchase if we don’t like it or change our mind ?

    No. It’s all yours!

  • Can the ‘real owner’ buy the property back after it’s been foreclosed?

    There is a 7-day ‘Right of Redemption clause that exists. However, there is less than 1% chance of that. In the event that a prior owner took advantage of this clause, you would be refunded what you purchased the property for plus anything additional you have invested.

  • Can we inspect the property prior to purchase?

    Yes, if you have the time available prior to the auction or purchase. Typically this would be a visual inspection.

  • Is there a guarantee about that the property will be sold for the price estimated prior to beginning a turn & flip project?

    Generally, there is an ideal price range we’re targeting to sell the property for following repairs when it goes on the market. If the repairs and renovation is done correctly and no corners are cut our pricing estimates are typically very accurate, if not on the lower side. We believe that ‘the best house on market for the best price’ will attract multiple offers, many times resulting in bidding wars that sometimes escalate above ‘asking price’.

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