Frequently Asked Questions

What is Agency?
Agency is the relationship between a client and agent or customer and agent. As a listing agent, the agent represents the Seller (Seller Agency). As the selling agent, if the Buyer has signed a contract with their agent, then the agent represents the Buyer (Buyer Agency). An agent may also work simply as the agent putting the deal together and not represent Buyer or Seller (Non Agent). Your agent, at your first appointment, will review Agency law with you as required by NH RSA.Back to Top

Must I be Pre-Approved before looking for a home?
No, a pre-approval is not necessary, but you should be pre-qualified by a bank or the agent can help you figure out how much you can afford. A Pre-Approval is, however, a great negotiating tool since a Seller will know you are already able to obtain financing. Back to Top

How much money do I need for a down payment?
This will depend on what type of loan you are expecting to receive. A VA loan requires no money down, but in most cases you will have to pay some closing costs. An FHA loan can be done with as little as 3% down and there are many other types of conventional loans that have different guidelines. Your banker will help you decide which loan is best suited for your financial needs. Back to Top

What is a point and how much are closing costs?
A point is the cost to get a lower interest rate. 1 point equals 1% of your loan amount, 2 points equals 2% of your loan amount. There are many loans that offer no-points, but you will notice that the interest rate is higher.

Closing costs are the fees charged to you to close the loan. This includes title search, lawyer's fee, appraisal and pre-paid items such as property taxes, insurance and interest. Some loans will finance the closing costs for you, some do not ... a loose guideline is closing costs would equal 3% of your loan for a no-point loan, 4% for a 1 point loan and so on.

So, a $100,000 mortgage with no points would be approximately $3,000 in closing cost. Again, this is a loose guideline; your banker will give you detailed amounts when you apply for your loan.Back to Top

Once I find a home, what will I need to make an offer?
You will need to put down a deposit with your offer. (There is no set amount). You will need to specify your total loan amount and type of loan. You will need to set a closing date. You will need to decide what type of inspections you will have done and any other contingencies that will be made part of the Purchase and Sales Agreement. You should also enclose a pre-qualification letter or pre-approval letter. Your agent will guide you through this process. Back to Top

What if I see a property that is listed with another agency?
Your agent can still set up the appointment, show you the property and work with you through closing. We are part of the Multiple Listing Service for the States of NH and MA. We can show you ANY and ALL properties listed. Back to Top

Why should I list with CENTURY 21 Bridge Realty?
Our professional team is knowledgeable about the real estate market, it's changes and trends. Your agent will give you a market value for your property based on recent home sales and currently listed properties.

We are listed in several web sites as well as our own. We advertise locally and regionally and are part of the largest relocation network. Your property is being marketed 24 hours a day, 7 days a week. Back to Top

What types of improvements should I make to my property before I sell it?
Don't Over-Improve! Many families tend to learn to live with a broken doorknob or a cracked window. All of these little things should be fixed.

Use caution in planning major improvements that you think will enable you to get more for the house than you paid for it. Of course, an investment in a paint job where it is obviously needed will be well worth the cost. The same is true with carpeting that is shabby enough to be a turn-off.

Most people out shopping for a house would rather plan their own major changes, and you are usually wiser to sell them the potential at a price they can afford. Back to Top