Real Estate FAQ
General Questions
What is the first step in buying a home?
The first step is getting pre-approved for a mortgage to determine your budget and improve your chances of securing a home in a competitive market
How do I determine my home's value?
A professional appraisal, comparative market analysis (CMA), or online valuation tools can provide insights into your home’s market value.
What are closing costs?
Closing costs include fees for the loan, appraisal, title insurance, escrow services, and taxes. They typically range from 2-5% of the home’s purchase price.
Should I buy or rent a home?
Buying is a long-term investment, while renting offers flexibility. Consider factors such as financial stability, job security, and future plans before deciding.
Buying a Home
What is the difference between pre-qualification and pre-approval?
Pre-qualification provides an estimate of what you can afford, while pre-approval involves a thorough check of your financial history and offers a conditional loan commitment.
How long does it take to buy a home?
On average, it takes 30-60 days from offer acceptance to closing, depending on financing, inspections, and other contingencies.
Do I need a real estate agent to buy a home?
While not required, a real estate agent provides market expertise, negotiates on your behalf, and guides you through the complex buying process.
Selling a Home
What should I do to prepare my home for sale?
Declutter, make necessary repairs, stage your home, and consider professional photography to attract buyers.
How long does it take to sell a home?
It depends on market conditions, pricing, and location. On average, it can take a few weeks to a few months.
Should I make improvements before selling?
Minor upgrades such as painting and landscaping can increase appeal, but major renovations should be considered carefully based on potential ROI.