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Whether you are preparing to buy your first home, sell a cherished property, or navigate the Mid-Michigan real estate market with confidence, having clear, reliable answers is essential.

Our Q&A Page at EXIT Realty Home Partners is your dedicated resource for expert real estate guidance. Here, you will find straightforward, transparent answers to the most common questions home buyers and sellers ask—from understanding contract timelines and financing steps to preparing your home for sale and navigating closing day.

A: Earnest money (or a Good Faith Deposit) is a deposit made by a buyer to demonstrate serious intent when making an offer on a home. In Michigan, this deposit is typically held in a secure escrow account by the listing brokerage or title company once the purchase agreement is accepted. It is applied directly toward your down payment and closing costs at the closing table.

A: A home inspection is hired by you (the buyer) to evaluate the structural integrity, systems (roof, HVAC, plumbing, electrical), and safety conditions of the home so you know what you are purchasing. An appraisal is ordered by your lender to determine the objective fair market value of the property and ensure the home is worth the loan amount.

A: Buyer closing costs generally range between 2% and 4% of the total home purchase price. These fees cover lender underwriting, appraisal, title insurance policies, government recording fees, and prepaid items like homeowner's insurance and property tax escrows. Your lender and real estate agent will provide a detailed Closing Disclosure prior to closing day.

A: We recommend starting 3 to 6 weeks before your target listing date. This provides ample time for decluttering, completing minor repairs, professional deep cleaning, and staging adjustments. It also allows your EXIT Realty Home Partners agent to schedule professional photography and build a custom marketing strategy to launch your listing for maximum buyer impact.

A: Yes! Depending on your financial situation, options include utilizing a bridge loan, home equity line of credit (HELOC), or writing a purchase agreement contingent upon the sale of your existing property. Our agents work closely with local lenders across Greater Lansing to help you evaluate the best strategy for your timeline and budget.

A: Once a purchase agreement is signed, the average closing timeline in Mid-Michigan ranges between 30 to 45 days for conventional, FHA, or VA financing. This window allows time for loan underwriting, property title searches, home inspections, and the lender's appraisal. If you are paying cash, closings can often be completed in as little as 10 to 14 days.

A:

Contingent: The seller has accepted an offer, but specific contractual conditions must still be satisfied—such as a satisfactory home inspection, mortgage approval, or the buyer selling their current home.

Pending: All major contingencies have been cleared or waived, financing is finalized, and the property is officially moving forward to closing day.