FAQ
FOR BUYERS
How do I start the home-buying process?
Begin by getting pre-approved for a mortgage, then work with a real estate agent to find and secure a home
How much should I budget for a down payment?
Aim for 5-20% of the home’s purchase price, but there are programs with lower down payment options
What are closing costs, and who pays for them?
Closing costs are fees associated with the transaction. Both buyers and sellers typically share these costs
What is the difference between pre-qualification and pre-approval?
Pre-qualification is an estimate of what you can afford, while pre-approval means a lender has verified your financial information
Do I need a real estate agent when buying a home?
While not required, a real estate agent can guide you through the process and negotiate on your behalf
FOR SELLERS
How do I prepare my home for sale?
Declutter, make necessary repairs, and consider staging to make your home more appealing to buyers
Do I need to make renovations before selling my home?
Not always. Minor repairs and improvements can enhance your home’s value, but major renovations may not provide a return on investment
What is the role of a seller’s agent?
A seller’s agent lists and markets your property, negotiates offers, and guides you through the selling process
What is a comparative market analysis (CMA)?
A CMA helps determine your home’s market value by comparing it to similar properties in your area
How long does it take to sell a home on average?
While not required, a real estate agent can guide you through the process and negotiate on your behalf
FOR INVESTORS
What types of real estate investments are available?
Options include residential rental properties, commercial real estate, real estate investment trusts (REITs), and more
What should I consider when choosing an investment property?
Location, property condition, rental potential, and the local real estate market are key factors
Are there tax benefits to real estate investing?
Yes, real estate investments often offer tax deductions and advantages like depreciation
How do I finance a real estate investment?
Financing options include traditional mortgages, private lenders, partnerships, or using your own capital
How can I analyze the potential return on investment (ROI) for a property?
Calculate ROI by factoring in purchase price, rental income, expenses, and potential appreciation