Questions, answered straight

FAQ

Real answers to what buyers, sellers, and auction folks ask us most. If yours isn't here, text 316-364-7500 and we'll answer it in plain English.

Selling questions

How do you decide what my home is worth?

We look at the last 90 days of comparable sales within about a mile of your address, then adjust for square footage, condition, updates, and location. The number we give you is defensible with actual sales, not a guess. If we can't back it up with sold data, we tell you so.

What does it cost to sell with TurnKey?

The listing fee is agreed up front, in writing, before you sign anything. Standard is a percentage of the sale price. There are no marketing fees, no transaction fees, no surprise add-ons at closing. You pay a commission when the home sells, and that's it.

How long will it take to sell?

That depends on price, condition, and the current market. In a normal Wichita market, priced right, a traditional listing goes under contract in about 2 to 6 weeks. An auction closes on a set date, typically 30 to 45 days out. We can give you a real range once we see the home.

Do I need to repair or update anything before listing?

Not always. Some updates return more than they cost, most don't. We walk the house with you and tell you which fixes are worth the money and which ones aren't. If cash and time are tight, we can price around the condition instead.

What if my home doesn't sell?

We reset with you. That means a real conversation about price, marketing, condition, and whether a different approach (auction, cash offer, hold and rent) fits better. You are never stuck. Every TurnKey listing agreement includes a written way out if we aren't performing.

Can I sell if I still owe on the mortgage?

Yes, and most sellers do. At closing, the title company pays off your loan from the sale proceeds and sends you the rest. If you owe more than the home is worth, we can talk through options including a short sale, though that path takes longer and needs your lender's sign-off.

What happens the day we go under contract?

The buyer has an inspection period, usually 7 to 10 days, and the lender starts the appraisal. We negotiate any repair requests, keep the file on track, and hand it to the title company for closing. You'll hear from us at every step, in plain English, not agent-speak.

Should I be there for showings?

No. Buyers open up more when the seller isn't in the house. We use a lockbox, all showings are scheduled with you, and we send you feedback after. If you want to be told exactly who's coming and when, that's how we run it.

Buying questions

How much house can I actually afford?

Talk to a lender before you look. A real preapproval tells you the price range, the monthly payment, and what you'll need at closing. It also makes your offer competitive when you find the right house. I can point you to a couple of local lenders I trust if you don't have one.

What does it cost to buy a home with a Realtor?

In most cases, the buyer's agent commission is negotiated as part of the offer, and in a lot of deals the seller covers it. When they don't, we spell it out in writing before you tour anything. No surprise fees at the closing table.

How much do I need for a down payment?

It depends on the loan. Conventional loans can go as low as 3% down, FHA 3.5%, and VA and USDA can be zero down if you qualify. On a $250,000 home, that's between $0 and $7,500 down for most first-time buyers. Closing costs run another 2 to 4%.

What is earnest money and how much should I put down?

Earnest money is a good-faith deposit that goes to the title company when your offer is accepted. In the Wichita area, $500 to $1,500 is common on most deals. It's credited to you at closing. You get it back if the deal falls apart for a reason spelled out in the contract.

What's the difference between preapproval and prequalification?

Prequalification is the lender's quick guess based on what you told them. Preapproval means they pulled your credit and reviewed real documents. Sellers take preapproval seriously; prequalification, not so much. Get preapproved before you tour homes if you can.

Should I get an inspection?

Yes. Always. A good inspector spends 2 to 3 hours in the house and finds things a walk-through misses. It costs about $400 to $600. Even on new construction, get one. If the inspection turns up something serious, you can negotiate repairs, credits, or walk away.

How long does it take to buy a house?

From offer to keys, most deals close in 30 to 45 days. Cash deals can close in 10 to 14. If you're paying cash and there's no lender, no appraisal, and no repairs, we can move fast. Otherwise the lender's timeline sets the pace.

Can I buy a house at auction?

Yes, and we run auctions every month. Register to bid ahead of time, review the property disclosures, and know your top number before bidding opens. There's no financing contingency at auction, so have your funds or financing lined up before you bid. Text AUCTION to 316-364-7500 and I'll walk you through it.

Auction questions

How does a real estate auction work in Kansas?

The property gets a set auction date and buyers bid openly against each other, online or live. The high bid plus the buyer's premium forms the purchase price, and closing follows on standard terms. We handle the marketing, the bidding, and the paperwork, and we walk both sides through every step.

What is a buyer's premium?

A buyer's premium is a percentage added to the high bid to form the total purchase price. On our auctions it is 10%. If you bid $200,000 with a 10% premium, the contract price is $220,000. It is disclosed up front on every auction, before you bid.

Is auction only for distressed properties?

No. Auctions work well for estates, land and acreage, unique properties that are hard to price, and ordinary homes whose sellers want a firm date and open competition. The market sets the price in full view, which many sellers prefer to weeks of negotiating in the dark.

What is the difference between a reserve and an absolute auction?

In a reserve auction the seller sets a minimum price and can accept or decline the high bid. In an absolute auction the property sells to the highest bidder regardless of price. Each auction states its type before bidding opens. Text AUCTION to 316-364-7500 and I'll walk you through which fits.

When does auction beat a traditional sale?

When the seller wants a firm date, a unique property is hard to price, an estate needs a clean close, or the market has more buyers than homes. Auction gives you competition and a deadline. If none of that applies, a traditional listing is usually the better path, and I'll say so.

How long does an auction take from start to finish?

Typical timeline is 30 to 45 days from signing the agreement to the auction close, then another 30 days to closing. Marketing runs for the first 3 to 4 weeks. If a seller needs a faster close, we can compress the schedule. We tell you what's realistic before you sign.

What does it cost the seller to run an auction?

On a TurnKey auction, the buyer pays our commission through the buyer's premium, so you don't pay a listing commission at closing. Your one cost is a marketing budget we agree on up front, tailored to the property. We show you exactly where every dollar goes: photos, video, signs, ads, the online listing. All in writing before we start.

Can I bid at auction if I need a loan?

Yes, but there's no financing contingency, so your loan has to be fully lined up before the auction. That means a lender-issued preapproval, or better, a signed loan commitment. If your financing falls through after you win, you lose your earnest money. Cash or hard money is safest.

What if nobody bids over the reserve?

The property doesn't sell that day and we regroup. Options: lower the reserve and re-run the auction, switch to a traditional listing, or hold and try again later. We show you every offer and inquiry that came in, so the next move is based on real data, not a hunch.

Have a question we didn't answer?

Text or call 316-364-7500. Real person, plain English, no pitch.

Call 316-364-7500 What's my home worth?