FREQUENTLY ASKED QUESTIONS

Whether you want to know more about financing or have a question about which city around the KC metro is the coolest, we can help! If you don’t see your question below or would like more details, please feel free to reach out to us on our contact page, email us, or call us at (913) 636-5943.

Where are you located?
Our office is located in Lenexa, Kansas, at 9870 Quivira Road, Lenexa, KS 66215. Come stop by!

Do I get my Earnest Money back?
The Earnest Money funds are held with the Title Company and the deposit is applied toward your down payment and closing costs.

How are realtors paid?
Realtors are paid a commission by the seller. The commission is a percentage of the home price.

What is a renovation loan?
A renovation loan allows buyers to borrow based on the appraisal value and your renovation plans. As work is completed, the mortgage lender sends an inspector to review the work. If the work is completed to the scope of the project and to state/local codes, money is released to pay the contractor.

How long does it take after we get our house under contract?
Once your house is under contract there are several steps that must occur before closing:

    • Inspections – After an offer is accepted, inspections will occur. There is typically a 10 day window to get this done. Inspections could include: whole house, termite, radon, chimney, sewer, structural, mold, lead based paint, and roof. After inspections, the buyer has a 5 day period to respond with one of three options: take the property “as-is”, renegotiate (fix x, y, z, compensate financially, or both), or cancel.
    • Appraisal – Appraisals are typically done within 7 days after the home inspection has been given the “all clear”. The appraisal results could take 1-2 weeks to come back.
    • Financing – Most of the waiting comes from the financial end and waiting for a “clear to close”, which means all conditions have been met and the buyer has been completely approved and is ready to close on the home.

What does the Title Company do?
A title company is responsible for ensuring that all documents related to the ownership of a property are in order before real estate transactions are executed. The title company also oversees the closing process.