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What is a buyer agreement and why do I have to sign one?
A buyer-brokerage agreement is a contract between you and the brokerage that says the agent represents you, how the agent is paid, and how long the agreement lasts. Virginia has required one before showings since 2012; after the 2024 NAR settlement every MLS in the country requires it. Read it before you sign: the compensation line, the term (we suggest 90 days or less to start), and the cancellation clause are the parts that matter. Ours can be ended by either party with written notice. Full explainer here.
How does a Keeton & Co buyer's agent work?
Before you tour, your agent reviews your financing with you and your lender so you know your real ceiling, not the pre-approval headline. During the search we send listings the moment they hit the MLS and tell you what a home is likely to sell for, not just what it lists for. When you are ready to write, your offer is built on recent closed sales in that neighborhood and structured (price, escalation, contingencies, closing date) for the seller's situation, which we find out before we write. After ratification a transaction coordinator tracks every deadline and your agent handles inspection negotiations and appraisal issues.
What does buying cost beyond the down payment?
Plan for 2–4% of the purchase price in closing costs: lender origination and underwriting, appraisal, title search and owner's title insurance, Virginia recordation tax, prepaid property tax and homeowner's insurance, and your own inspections ($400–$800 for a general inspection, more for radon, well or septic). Buyer-agent compensation is separate and set in your agreement; in most Central Virginia deals the seller covers some or all of it. Your agent should hand you a cost sheet that matches your lender's loan estimate.
Which Central Virginia areas do you cover for buyers?
The Richmond metro (Henrico, Chesterfield, Hanover, Goochland, Powhatan and the City of Richmond), Charlottesville and Albemarle County, and the Lynchburg region including Forest and Bedford County. Each area has its own market data page with median prices and days on market, and an office with agents who live there.
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Common buyer questions
Do I have to sign a buyer agreement in Virginia before touring homes?
Yes. Virginia law has required a written buyer-brokerage agreement before an agent shows you property since 2012, and the 2024 NAR settlement made it a nationwide MLS rule. The agreement states how your agent is paid and for how long it lasts; both are negotiable.
How much does a buyer’s agent cost?
Buyer-agent compensation is set in your buyer agreement, usually as a percentage of the purchase price. In most Central Virginia transactions the seller agrees to cover some or all of it as part of the offer; if the seller does not, you pay the difference at closing or negotiate it into the price.
What does it cost to buy a home in Richmond beyond the down payment?
Closing costs in Virginia typically run 2–4% of the purchase price: lender fees, title insurance, recordation tax, prepaid taxes and insurance, and inspection fees. Your lender’s loan estimate and your agent’s cost sheet should agree within a few hundred dollars.