Des Moines Real Estate FAQs

Most purchases follow the same path. Get pre-approved with a lender, choose an agent and sign a written agreement, tour homes, make an offer, schedule the inspection, complete the loan and title work, then close. We guide you through each step and keep the timeline on track.

Plan for a down payment, closing costs, an inspection, and moving costs. Your lender's Loan Estimate shows the loan and closing costs, and the lender must give it to you within three business days of your application. Ask a lender early so you have real numbers, not averages.

Source: CFPB Loan Estimate

The main requirements come from your lender: credit, income, employment history, a down payment and documentation. Different loan types have different rules, so a lender can tell you which one fits.

Yes. The Iowa Finance Authority offers first-time homebuyer programs such as FirstHome, which can include down payment and closing cost help. Income limits, price limits and terms change, so check the IFA site and talk to a participating lender before you plan around them.

Source: IFA FirstHome, IFA down payment programs

It depends on the loan and on what the purchase agreement says. Lender fees come from your loan. Other costs, including the transfer tax, can be negotiated between buyer and seller and written into the purchase agreement, and sellers sometimes agree to help with a buyer's costs. Ask us to estimate the costs on a specific home.

The tax is $0.80 for each $500 of the price, with the first $500 exempt. It is paid to the county recorder where the property is located.

Source: Iowa Dept. of Revenue rates, Iowa Code 428A.1

Yes. Iowa law says a brokerage agreement must be signed by you and the agent before the agent shows you a property, or before making an offer if no property is shown. There are exceptions, such as open houses and auctions. The agreement also has to state that compensation is negotiable and not set by law.

Source: Iowa Code 543B.56A

Yes. Iowa law requires a brokerage agreement to conspicuously state that the broker's compensation, fees and commission are negotiable and not established by law. We explain how our compensation works before you sign anything.

Source: Iowa Code 543B.56A

Most buyers get one. An inspection looks at the structure, roof, plumbing, electrical, heating and cooling, and more. Whether you can ask for repairs or a price change, and by when, depends on the inspection terms in your purchase contract, so read those before you sign. Prices depend on the size and age of the home and add-ons like radon or a sewer scope, so get quotes.

Yes. The Iowa Department of Health and Human Services reports that the Iowa Radon Survey found 71.6% of Iowa homes above the EPA action level of 4 pCi/L, the largest share in the country, and EPA classifies the whole state as Zone 1. Testing is the only way to know a specific home's level.

Source: Iowa HHS radon page

No state rule requires testing or mitigation in a sale. Where the Iowa disclosure law applies, a seller must disclose any known radon tests, with the date and results, and give the buyer the state's radon fact sheet. Most buyers add a radon test to their inspection.

Source: Iowa HHS radon page

For most sales of residential property, Iowa law requires the seller to give the buyer a written statement about the property's condition before the seller makes or accepts a written offer. Some transfers are exempt, so ask about your situation. It is not a substitute for an inspection.

Source: Iowa Code 558A.2

Where the law applies and the statement is not delivered on time, Iowa law lets the buyer withdraw the offer or revoke the acceptance without liability. The window is within three days of personal delivery of the statement, or five days if it is delivered electronically or by mail.

Source: Iowa Code 558A.2

An abstract is a record of the documents on file for a property, such as deeds, mortgages and easements. In Iowa Title Guaranty transactions, an attorney examines the abstract and issues a title opinion, which is the basis for the title guaranty. Your closing agent handles this. We make sure it is on your timeline.

Source: Iowa Title Guaranty

It depends on the loan type and the program. Some loans and Iowa Finance Authority programs allow a low down payment, and the IFA also offers down payment and closing cost help to eligible buyers. A lender can tell you what you qualify for.

Source: IFA FirstHome, IFA down payment programs

It changes month to month. The Des Moines Area Association of REALTORS publishes the metro numbers every month. We read the data for your price range and area, then tell you what it means for your offer or listing price.

Source: DMAAR housing stats

The usual steps: get a market analysis, choose a price, prepare and photograph the home, list it, review offers, complete the buyer's inspection and the sale paperwork, then close. You sign a written listing agreement, and in most sales the seller disclosure goes to the buyer before an offer. We can help with the details and keep you informed.

Source: Iowa Code 543B.56A, Iowa Code 558A.2

Owners can sell on their own, and the seller disclosure law applies to many of those sales too. The trade-off is that you handle pricing, marketing, showings, negotiation and the paperwork yourself. We can explain what we do so you can compare.

Source: Iowa Code 558A.2

You may owe federal income tax on a gain, but many homeowners can exclude up to $250,000 of gain, or $500,000 for joint filers, if they meet the IRS ownership and use tests (generally two of the last five years) and the other IRS conditions, such as not having used the exclusion on another home within the past two years. Check IRS Topic 701 and a tax professional about your situation.

Source: IRS Topic 701

Your net is the sale price minus your mortgage payoff, agent compensation, transfer tax, any agreed repairs or concessions, and your share of closing costs. We can walk you through an estimate of your net before you list.

Source: Iowa Dept. of Revenue rates

A good answer is a market analysis from an agent who has seen the home, using recent nearby sales. County assessments and online estimates are only starting points. Ask us for a free home evaluation.

Price it right from day one, fix what a buyer will notice, clean and declutter, use strong photos, and keep showing times flexible. Pricing is one of the biggest factors in how long a home sits.

Price, condition and presentation usually matter more than the month. Some seasons bring more buyers, and we can show you the monthly trend for your price range from local sales data.

Cash buyers can close quickly with few showings, but the offers are often lower than what the open market would pay. Compare the cash offer with a market analysis and with the net on a normal sale before you decide.

It depends on your equity, your lender and how competitive your next home's price range is. Options include a sale contingency, a longer closing for one side, or bridge financing. We map out the choices before you list.

Fix safety items and anything a buyer or inspector will flag. Cleaning, paint and small repairs often matter more than big remodels. We walk through your home and give you a short priority list.

The county assessor sets the property's value. The county auditor then applies state rollbacks and the local tax rates, and sends the levied taxes to the treasurer. Your tax statement shows how those pieces combine for your home.

Source: Polk County Auditor

Iowa property taxes are paid twice a year, in September and March, to the county treasurer. Check your county treasurer's site for the exact dates and any late interest. If your lender escrows taxes, the lender usually pays for you.

Source: Iowa.gov property taxes, Polk County Treasurer

The Polk County Treasurer's property tax page has the tools to search your parcel and pay online. Have your parcel number or address ready.

Source: Polk County Treasurer

Yes. You can file a written protest with the Board of Review during the annual filing window. Check the county assessor's page for the current dates. Recent sales of similar homes are the usual evidence. We can pull comparable sales for you.

Source: Polk County Assessor appeals

Compare more than the base price: lot, upgrades, allowances, timeline and what is included. Get the contract and the plans reviewed, and plan inspections during the build. We help you compare builders and read the contract.

It depends on the builder, the plan, the season and permits. Ask the builder for a realistic schedule and what causes delays. We can tell you what we see with the builders we work with.

It depends. Compare the full cost of building, including the lot, site work, upgrades and landscaping, against similar existing homes. New homes can cost more up front but may need fewer repairs, and existing homes may come with a finished yard and a faster move-in.

It is worth deciding before your first visit. A builder's sales representative typically represents the builder, and an agent you hire can represent you if you sign a written agreement, as Iowa law requires. Ask each builder who represents whom and what its registration rules are, since some require your agent to be named at your first visit.

Source: Iowa Code 543B.56A

A spec home is built before a buyer is chosen, so you can often move in sooner but have fewer choices. A custom home is designed around you, with more decisions, more time and usually more cost. Semi-custom sits in between.

It depends on your budget, commute, school preferences and the feel you want. Ankeny, West Des Moines, Waukee, Johnston, Urbandale, Altoona and Grimes are all popular, with different price ranges and styles. Tell us what matters most and we will narrow the list.

Neither is better for everyone. Compare commute, price range, the type of home you want, schools and the feel of the neighborhoods. We can show you homes in both so you can compare them in person.

Many people like Des Moines for its housing costs, its mix of city and suburb, and its job base. Visit at different times of day and in several areas. Tell us what you are looking for and we will tell you honestly whether it fits.

Ankeny is a suburb north of Des Moines with a wide range of new and existing homes. Ask us about specific neighborhoods, builders and what is available in your price range.

Start with your budget and your commute, then choose two or three areas to compare. Ask your agent about video tours, matching listings and planning a short in-person trip to see homes and neighborhoods.