Frequently Asked Questions

Start by talking to a lender to get pre-approved, so you know your price range. Then pick an agent and start touring homes that fit.

Get pre-approved, tour homes, make an offer, do inspections, then wait on the appraisal and loan. After that you close and get your keys.

Pre-approved means a lender checked your income, credit and savings and says about how much they'd lend. Most sellers in South Portland want to see it with your offer.

Plan for a down payment, an earnest money deposit, closing costs and inspections, plus a cushion for moving. A local lender can tell you what your loan needs down.

It depends on the loan type and the lender. FHA, VA, conventional and MaineHousing loans each have their own minimums, and a local lender can tell you where you stand and what to work on.

Paying your buyer's agent is the buyer's responsibility, and it's spelled out in your buyer agreement. Sellers don't offer it up front, but there are strategies to get part of it covered. We go through them in a buyer consultation.

Your agreement says how and when it can end, so read that part first. If you're unsure what it means for you, ask a real estate attorney.

The listing agent works for the seller. A buyer's agent works for you, helping with your offer, negotiating and catching problems.

It's a MaineHousing loan program for first-time buyers in Maine, with income and purchase price limits that depend on where you buy. The limits are updated from time to time, so reach out and I'll help you check the current numbers. You apply through a MaineHousing-approved lender.

Usually it means you haven't owned a home in the past three years. Reach out and I'll help you check the details for your situation.

MaineHousing offers a homebuyer education class. It's worth taking early, and it can open the door to extra help with your down payment or closing costs.

Earnest money is a deposit you make when your offer is accepted, to show you're serious. It's held in an escrow account, which is a safe holding account, and goes toward your costs at closing.

In Southern Maine it's typically 1 to 3 percent of the price. I've seen as little as $500 and as much as $50,000. Each one is unique and part of a broader offer strategy.

You could if you back out for a reason your contract doesn't allow. Know your deadlines for things like inspection and financing, and ask a real estate attorney if you have contract questions.

Closing costs are the fees to finish the sale, like lender fees, title insurance, the title company's fees, prepaid taxes and insurance, and your share of the Maine transfer tax. Your lender lists them on a Loan Estimate.

Maine's transfer tax is $2.20 per $500 of the price, split evenly between the buyer and the seller. For sales on or after November 1, 2025, there's an extra $3.80 per $500 on the part of the price over $1 million, also split. Your share shows up on your closing papers.

A VA loan comes from a regular lender, and the VA backs part of it. That's why many buyers can put little or nothing down. Your lender confirms the details for your situation.

Your lender can usually pull it for you, often quickly. You can also request it yourself on VA.gov.

Yes, many do. A solid pre-approval and an agent who explains the VA process to the seller's side go a long way.

Yes. Many military families buy with live video tours and e-signing. Plan ahead so you, or someone you trust, can be at the inspection and final walkthrough.

Sometimes, yes. It depends on how much entitlement, meaning VA backing, you have left, and your lender can check it from your COE.

It isn't required, but it's a smart move. An inspector checks the whole house so you know what you're buying before the deal is final.

Within your inspection deadline, you can ask for repairs, a credit or a lower price, or you can walk away. Your agent helps you decide what's worth asking for.

The inspection is for you and checks the home's condition. The appraisal is for the lender and checks that the home is worth the price.

You can ask the seller to lower the price, cover the gap with cash, meet in the middle, or walk away if your contract allows. Your agent can also question the appraisal if similar recent sales were missed.

Yes. Radon is really common in Maine, and it's not scary. We usually treat anything over 4.0 pCi/L in the air and 4,000 pCi/L in well water. An air test is about $200 and a water test about $100. An air system is normally under $1,500, and water systems can cost more, so if money's tight, test the water first. Search "radon" on maine.gov for Maine CDC's guidance and radon map.

Not usually, since oil heat is very common in Maine. Get the tank and boiler inspected, and ask your insurance agent if they have rules about tank age.

Common things are older wiring, lead paint in homes built before 1978, old oil tanks, roofs and damp basements. A good inspection will flag them.

Often, yes. A specialist can check things a regular inspection can't fully see, like the inside of a chimney or an old sewer pipe.

Ask for the condo association's budget, rules, meeting minutes and monthly fees. They show how the building is run and what costs might be coming.

It depends on the building, but fees often cover outside upkeep, snow removal, building insurance and shared areas. The condo documents list exactly what's included.

It's an extra charge owners pay when the association needs money for a big project, like a new roof. Ask if any are planned before you buy.

No one can predict rates. Buy when the payment fits your budget and your life, and ask your lender about refinancing later.

Look at recent nearby sales, get a solid pre-approval and keep your terms clean. Your agent can help you set the price, deposit and timing.

It raises your price by a set amount above other offers, up to a limit you choose. It can help when there are multiple offers, but it shows your top number, so talk it through first.

A contingency is a condition in your offer, like getting your loan or a good inspection. If it isn't met, it may let you back out without losing your deposit.

You do a final walkthrough, then sign papers at the title company with the closing officer, who is usually a notary, and the money is sent. Once the deed is recorded, the keys are yours.

An agent looks at recent sales of similar homes nearby, plus what's for sale and under contract now. That's called a market analysis, and I can put one together for you.

Online estimates, like Zillow's, are a starting point, but they can't see inside your house. Maine's housing stock is unique, and a computer doesn't know how to compare an 1800s colonial with original woodwork to a 2020 build with builder-grade cabinets. A local market analysis is usually much closer.

It can sit on the market, and buyers start to wonder what's wrong. Homes that sit can end up selling for less than if they were priced right at the start.

It can work in some markets, but it's a strategy, not a guarantee. Talk it through with your agent using current local data.

Spring is often busy, but homes sell all year here, and the buyer looking at homes in a January snowstorm is more motivated than the buyer stopping into a rainy open house in July. The right time also depends on your next move.

Yes. There may be fewer buyers, but the ones out in the snow are usually serious. Keep walkways clear and the house warm and bright.

There's no set rate. Commission is always negotiable and is agreed on in writing with your listing agent before you list.

No. In Maine, the buyer is responsible for paying their own agent. A buyer may ask you to help with it in their offer. If they do, what matters is your net, so compare offers by what you walk away with, not just the price.

It covers things like pricing, photos, marketing, showings, negotiating and managing the deal to closing. Ask any agent you interview for their exact plan.

Focus on things buyers notice, like leaks, broken items and anything likely to come up on an inspection. Some sellers get a pre-inspection, but I like to walk through the house with you first so we can decide together if you need one. Big remodels often aren't worth it right before you sell.

Not always, but clean, simple rooms help buyers picture themselves there. Small things like clear counters and good lighting help.

Fresh, neutral paint is one of the easier updates. Focus on rooms with scuffs or very bold colors.

It can help you find and fix problems before buyers do. It's optional, so talk with your agent about whether it makes sense for your home.

In Maine, the property disclosure isn't only on the seller. When agents are involved, the form has to be filled out, and keeping it accurate falls on everyone: the seller, the buyer, and both agents. It covers things like water, septic, heating and known hazards, and with a private well it asks if a water test has found PFAS. Buyers should get it no later than when they make an offer.

Clean, declutter, open the blinds and turn on every light. Put away personal items so each room looks calm and roomy.

It's best if you do. Buyers relax and look longer when the seller isn't home.

Take them with you if you can, or crate them and let your agent know. Put away bowls and litter boxes, too.

Your agent should ask each buyer's agent and share what they hear. Look for patterns, since one comment isn't a trend.

It's usually price, condition or how the home looks online. Your agent should go over the feedback with you and suggest a fix.

Start with what you want next, like one-floor living or less upkeep. Then talk with a lender and an agent about timing the sale and the purchase.

Sometimes. Options include a bridge loan, a home equity line or using savings, and a lender can tell you what fits.

It means your offer depends on selling your current home first. It protects you, but some sellers see it as a weaker offer.

You can try to close both on the same day, or ask to stay in your home a short time after closing. Your agent can line up the dates in both contracts.

A rent-back lets you stay in your home for a set time after closing, usually paying the new owner. The details are agreed on in your contract.

Start early and go one room at a time, sorting into keep, give, sell and toss. Some families also hire a senior move manager or estate sale company.

A condo usually means less outside work but a monthly fee. A smaller house gives you more control, so list what matters most and tour both.

Talk with an agent about the market, a lender about your next purchase, and a CPA or financial planner about the money side.

Look past the price at the financing, deposit, contingencies and closing date. A slightly lower offer with fewer conditions can be the stronger one.

Often, yes. A counteroffer lets you change the price or terms, and your agent can help you decide what to push on.

Your agent may ask everyone for their highest and best offer by a deadline. Then you pick the one that fits your goals, not just the top price.

These can be strong offers. The appraisal has a few extra condition rules, so your agent can explain what to expect for your home.

You can agree, say no, offer a credit or meet in the middle. Your agent helps you weigh the request against the risk of losing the buyer.

A credit is often simpler and avoids last-minute contractor trouble. Some loans need certain repairs done before closing, though.

You can lower the price, ask the buyer to cover the gap, split it, or challenge the appraisal with better similar sales. Your agent will walk you through it.

They usually include commission, your share of the transfer tax (higher on the part of a price over $1 million), your mortgage payoff and discharge fee, a deed prep fee, prorations for property taxes and fuel, and any credits you agreed to give the buyer. Ask for an estimated net sheet before you list.

Maine's transfer tax is $2.20 per $500 of the sale price, split evenly between buyer and seller. For sales on or after November 1, 2025, there's an extra $3.80 per $500 on the part of the price over $1 million, also split. Your agent can show your share on a net sheet.

You sign the deed and other papers, sometimes ahead of time, and your mortgage is paid off. Then the money left over is sent to you.

It depends. If it's been your primary residence for 2 of the last 5 years, you can usually exclude up to $250,000 of profit if you're single, or $500,000 if you're married. Profit above that is taxable. Out-of-state sellers have 2.5% withheld by Maine at closing, and foreign sellers can have separate withholding. Talk with a CPA, and if you need one, I'm happy to recommend a few.

If you don't live in Maine, Maine generally withholds 2.5% of the sale price at closing on sales of $100,000 or more, as a prepayment toward your Maine income tax. It can sometimes be reduced with a form filed before closing. A CPA can help, and I'm happy to recommend a few.

It depends on things like the home's value when it was inherited. Talk to your CPA before you sell.

Usually the estate's personal representative signs the sale, often after probate starts. A probate attorney can tell you what's needed first.

Often, yes, unless the home was set up to pass another way, like through a trust. A probate attorney can tell you for sure.

Let family take what they want first, then look at estate sales, donations or cleanout services. Check for important papers before anything gets tossed.

Not always. Some families sell as-is and some do light cleanup, and your agent can show what each choice might mean for price and timing.

Yes. The lease usually stays in place unless you and the tenant agree otherwise, so ask an attorney about your lease and notice rules.

A vacant home is easier to show and stage. A rented home can appeal to investors, so weigh both with your agent.