Answers
Frequently asked questions
By Daniel Keeton Updated
These are the questions our agents and inside sales team hear most from Central Virginia buyers and sellers, answered in a few sentences each. Where an answer depends on your situation, we say so and link to the page that goes deeper.
Selling
- Do I need to stage my home?
- Vacant homes almost always benefit from staging; occupied homes usually need decluttering and professional photography more than furniture. Your agent should tell you which applies before you spend money. More →
- How long does it take to sell a house in Richmond, VA?
- Well-priced homes in the Richmond metro typically go under contract in two to four weeks and close 30–45 days later — about 45–75 days total. Overpriced homes take months. Current median days on market by area is on our market pages. More →
- Is a Zestimate accurate for my Richmond home?
- Automated estimates are a starting point, not a price. They cannot see condition, updates or lot quality and can miss by tens of thousands of dollars in Richmond's varied neighborhoods. Ask an agent for comps. More →
- Should I make repairs before listing?
- Fix anything a buyer's inspector will flag as safety or systems (roof leaks, electrical, HVAC, water intrusion) and do inexpensive cosmetic work — paint, cleaning, lighting. Skip major renovations; you rarely recover the cost. More →
- What is a seller's net sheet?
- An itemized estimate of your proceeds: estimated sale price minus commissions, Virginia grantor tax, settlement fees, repairs and your mortgage payoff. Keeton & Co provides one before you sign a listing agreement. More →
- What is the first step to selling my home?
- Get a written pricing analysis from an agent — comparable closed sales, not an online estimate — and a net sheet showing your proceeds. Both are free. Then decide on timing and prep. More →
Buying
- Do I need to be pre-approved before looking at homes?
- Yes, in practice. Sellers in Central Virginia expect a lender pre-approval letter with any offer, and your agent needs it to know your real ceiling. Pre-approval takes a day or two and does not commit you to that lender. More →
- How long does it take to close on a house in Virginia?
- Typically 30–45 days from ratified contract to closing with financing; cash closings can be two to three weeks. The appraisal and title work set the pace. More →
- How much do I need for a down payment in Virginia?
- It depends on the loan: 3–5% for many conventional loans, 3.5% for FHA, 0% for VA and USDA loans where eligible. Closing costs of 2–4% are separate. Your lender and agent should show both on one sheet. More →
- Should I waive the inspection to win a bidding war?
- Rarely. Consider an informational inspection (you inspect but cannot ask for repairs) or a shorter inspection period instead. Waiving entirely on an older home is a large financial risk. More →
- What is an escalation clause?
- A clause in your offer that automatically raises your price above competing offers, up to a cap you set. Useful in multiple-offer situations; your agent should explain when it helps and when it just overpays. More →
Working with an agent
- Can I work with more than one agent at a time?
- Not once you sign an exclusive buyer or listing agreement. Before signing, interview as many as you like. Keeton & Co's agreements can be cancelled with written notice if the relationship is not working. More →
- Does Keeton & Co use a call center or auto-dialer?
- No. Web and phone inquiries are answered by licensed agents or our in-house team during business hours, by text or call from (804) 556-1228. Outside business hours you hear from us the next morning. More →
- How do I find a good real estate agent in Richmond?
- Look for recent closed sales near your home, a large base of recent verified reviews on Google or Zillow, and a broker you can reach. Interview at least two and ask each the same questions. More →
- What is the difference between a real estate agent, a REALTOR® and a broker?
- An agent holds a Virginia salesperson license and must work under a broker. A broker has additional experience and licensing and supervises agents. REALTOR® means membership in the National Association of REALTORS® and its code of ethics. More →
- Who is the broker at Keeton & Co?
- Daniel Keeton, the firm's founder, is principal broker. He has 14 years in residential real estate, supervises every agent at the four offices, and reviews listing pricing before homes go to market. More →
Commissions and fees
- Are there fees to talk to a Keeton & Co agent or get a home value?
- No. Pricing analyses, net sheets and buyer consultations are free and carry no obligation. You pay a commission only when a home actually closes under a signed agreement. More →
- How much is real estate commission in Virginia?
- There is no set rate. Listing commission is negotiated between you and your brokerage and stated in the listing agreement; buyer-agent compensation is negotiated separately in each offer since the 2024 NAR settlement. More →
- What is the Virginia grantor tax?
- A state tax on the seller of $0.50 per $500 of the sale price (0.1%), paid at settlement. Northern Virginia localities add a regional surcharge; Richmond-area localities do not. More →
- Who pays the buyer's agent in Virginia now?
- It is negotiated per transaction. Most Central Virginia sellers still agree to cover some or all of it in the offer; if not, the buyer pays the difference at closing or negotiates it into the price. More →
The process
- Can I sell my current home and buy the next one at the same time?
- Yes, with a home-sale contingency, a bridge or HELOC strategy, or a negotiated rent-back after closing. Which fits depends on your equity and the strength of your local market; an agent can map it out. More →
- What does 'under contract' mean?
- The seller has accepted an offer and both parties have signed. The sale is not final until inspection, appraisal and financing contingencies are satisfied and the deal closes, typically 30–45 days later. More →
- What happens at a Virginia home inspection?
- A licensed inspector examines structure, roof, systems and safety items over two to four hours and issues a written report. The buyer then asks for repairs, a credit, or nothing; the seller responds within the contract's deadline. More →
- What if the appraisal comes in low?
- The buyer's lender lends on the appraised value, so the gap must be covered: the seller reduces the price, the buyer brings more cash, they split it, or the contract is terminated under the appraisal contingency. Your agent negotiates this. More →
- What is a transaction coordinator?
- A staff member who tracks every deadline in your contract — inspection, appraisal, title, lender conditions, walkthrough — so nothing is missed. Keeton & Co uses transaction coordinators alongside your agent. More →
Areas
- Does Keeton & Co serve Lynchburg and Forest?
- Yes. Our Lynchburg office at 20715 Timberlake Rd and Forest office at 15115 Forest Rd serve the City of Lynchburg, Forest, Bedford County, Campbell County and Amherst County. More →
- Is Glen Allen a good place to live?
- Glen Allen, in northern Henrico County, combines established neighborhoods, newer developments and Innsbrook's employment center, with Henrico schools and easy I-295 access. Keeton & Co is headquartered here. Current medians are on the Glen Allen market page. More →
- Is Midlothian a good place to live?
- Midlothian, in Chesterfield County southwest of Richmond, offers larger lots, newer planned communities, and a range of price points from starter homes to estates. Commute to downtown Richmond runs 25–35 minutes. See the Midlothian market page for current numbers. More →
- Is Short Pump a good place to live?
- Short Pump, in western Henrico County, is known for its retail and dining, well-regarded Henrico schools, and quick access to I-64 and I-295. Housing is mostly late-1990s to recent construction. Median prices and days on market are on our Short Pump market page. More →
- What areas of Charlottesville does Keeton & Co cover?
- The City of Charlottesville, Albemarle County (including Crozet and the northern suburbs), and the surrounding counties — Fluvanna, Greene, Nelson and Louisa — from our downtown office at 969 2nd St SE. More →