Answered Honestly
We have been in client meetings where someone whispers “this might be a dumb question” and then asks something we wish every buyer would ask. There are no dumb questions in real estate. The whole process is designed by lawyers and lenders, and unless you have done it before, none of it is intuitive.
We are Mandy and Michelle. We are Tandem here in Coastal Georgia. We wanted to put together every question we get asked behind closed doors, the ones people are too polite to ask out loud, and answer them honestly.
- How much money do I really need to buy a house?
It depends on the loan type, but here is the honest range. You will need money for a down payment (anywhere from 0 to 20 percent depending on your loan), money for closing costs (typically 2 to 5 percent of the loan), and money for earnest money up front (usually 1 percent of the purchase price). Plus the inspection (around 400 to 600 dollars) and the appraisal (around 500 to 700 dollars), which you pay out of pocket during the contract period.The total cash to close on a 350,000 dollar house (close to the Savannah median in spring 2026) can range from about 9,000 dollars to 90,000 dollars depending on your loan. Talk to a lender to get your real number.
- What credit score do I need?
Most loan programs start being available around a 580 credit score, with better terms as your score climbs. The Georgia Dream program requires a minimum 640. We have closed deals with buyers in the low 600s on FHA loans. If your score is below 580, a lender can usually give you a plan to get it where it needs to be within a few months. - What is earnest money and do I get it back?
Earnest money is the deposit you put down with your offer to show the seller you are serious. In our market it is typically 1 percent of the purchase price, sometimes more in competitive situations. It gets held by a third party (usually a closing attorney) and applied to your closing costs at the end.You get it back if you exercise your contingencies properly (inspection, financing, appraisal). You can lose it if you walk away outside of your contingencies for a reason that is not protected by the contract. This is one of the most important reasons to have a realtor who reads contracts carefully.
- What is a contingency?
A contingency is a condition in the contract that has to be met for the deal to close. The main ones are inspection (you have a window to inspect and back out or renegotiate), financing (the deal depends on your loan being approved), and appraisal (the house has to appraise at or above the contract price).Contingencies protect you. Waiving them makes your offer stronger to a seller but riskier for you. We talk through this on every deal.
- Do I have to pay my realtor?
The rules around buyer agent compensation changed in 2024, and how it works now is that you sign a Buyer Brokerage Agreement before we start touring. That agreement spells out exactly what we are paid and who is paying us. In many cases, the seller still pays the buyer agent’s commission as part of the deal, but it is not automatic anymore. We will walk through it with you on the first call. - How long does buying a house actually take?
From “I am ready to start looking” to closing day, usually 60 to 90 days. Some of our deals close faster, especially with cash buyers. Some take longer, especially with complicated financing or new construction. The contract period itself, once you are under contract, is typically 30 to 45 days. - Should I buy new construction or an existing home?
Honest answer: it depends on what you value. New construction means new everything, builder warranties, and modern layouts. It also means waiting for the build, dealing with construction delays, and lots that are sometimes smaller than older neighborhoods. New construction is especially common right now in Pooler, Richmond Hill, and the New Hampstead area of Bloomingdale.Existing homes mean character, established trees, often larger lots, and you can see what you are getting. They also mean older systems, potential maintenance, and the possibility of surprises. We help our clients think through this honestly based on their priorities, not based on which one is easier for us to sell.
- Should I be worried about flood zones?
Yes, but worried in a productive way. Coastal Georgia has real flood risk in certain areas, and the flood maps have changed in recent years. Not every home is at high risk. Many are not. But you need to know before you buy.We pull flood zone information on every property we tour with a client. If a home is in a special flood hazard area, you will likely be required to carry flood insurance, which is in addition to your regular homeowners insurance. The cost varies wildly. Get a quote before you go under contract.
- What about hurricanes?
Real talk: hurricane season is June through November. Most years pass without anything significant. We have plans for the years that do not. Your homeowners insurance will likely require a separate wind/named storm deductible, which is typically a percentage of your home’s insured value rather than a flat dollar amount. We talk this through with every coastal buyer. - How do I know if a neighborhood is right for me?
Drive it at different times of day. Walk it. Eat at the closest restaurant. Sit at the closest coffee shop. Notice the cars, the yards, the energy. Visit on a weekday, a weekend, and an evening.We will give you our honest impressions of a neighborhood when you ask, but we will never tell you which neighborhood is good or bad. That is your call to make, and it is too personal for a one-size-fits-all answer.
- What is the difference between pre-qualified and pre-approved?
Pre-qualified means a lender ran some basic numbers based on what you told them. Pre-approved means a lender has actually verified your income, assets, and credit. Pre-approved is what you need to make a real offer. Many sellers will not even consider an offer without a pre-approval letter attached. - Can I write an offer without seeing the house in person?
Yes, and we do it more than you would think. For out of state buyers, we do live video walkthroughs, send detailed video tours, and walk through every inch of the home for you. We have closed deals for clients who saw their house for the first time at the final walkthrough. We do not recommend it unless we have built real trust, but it is possible. - What happens if the inspection turns up something bad?
You have options. You can ask the seller to fix it. You can ask for a price reduction. You can ask for a closing credit so you can fix it yourself with money in hand. You can walk away if it is during your inspection period.Most deals have at least a few items come up at inspection. That is normal. Major structural issues, roof problems, foundation cracks, mold, those are the ones we treat seriously. Cosmetic stuff we mostly let go.
- Do I have to use the seller’s preferred lender or attorney?
No. You can use any lender you want. In Georgia, the buyer typically chooses the closing attorney, though sometimes the seller will request a specific one. We can recommend lenders, attorneys, and inspectors we have worked with for years and trust. - What is PMI and how do I avoid it?
PMI stands for private mortgage insurance. If you put less than 20 percent down on a conventional loan, your lender will require it. It is an extra monthly cost that protects the lender, not you. You can avoid it by putting 20 percent down, by using certain loan programs (VA loans do not have PMI, USDA has a different structure, FHA has its own mortgage insurance), or by paying it for a few years and then dropping it once you have 20 percent equity. - What stays with the house when I buy it?
In Georgia, fixtures stay and personal property goes. The general rule is anything attached to the house (light fixtures, built-ins, ceiling fans, blinds) stays unless explicitly excluded. Anything not attached (furniture, decor, free-standing appliances sometimes) goes unless explicitly included.If you want the refrigerator, the washer dryer, the curtains, write it into the offer. Do not assume.
- What is the worst part of buying a house?
Honestly? The middle. The two weeks between getting under contract and closing where everything feels uncertain and you are waiting on the appraisal, the underwriter, the inspection negotiation, the title work. Almost every buyer has a moment in there where they panic. It passes.The best part is closing day. The keys in your hand, the picture in front of the house. We have done this a lot, and we still tear up almost every time.
One more thing
If you read all the way to question 17, you have already done more homework than most buyers walking into this process. Send us your real questions. The ones not in this post. The weird, specific, personal ones. We answer every message that comes in.
Find us on Instagram at @tandem_savannah, on our website, or just reply to our newsletter. No question is a dumb one.
Moving forward together, that is the whole point.