FAQ

Table of Contents

General

Real estate refers to land and any permanent structures on it, such as homes or buildings.
Real estate includes residential, commercial, industrial, land, and special-purpose properties.
A real estate agent assists clients in buying, selling, or renting properties by guiding them through the process.

Buying

Start home-buying process by checking your budget, getting pre approved for a mortgage & consulting a real estate agent.
The down payment typically ranges from 3% to 20% of the home's price, depending on the loan type and requirements.
A home inspection is a professional evaluation of a property's condition to identify any issues before finalizing the purchase.

Selling

The best time to sell a home is usually in spring or early summer when buyer demand is strongest.
Renovating before selling can increase your home's value, but focus on cost-effective updates that appeal to buyers.
The listing price is set by comparing the home to similar properties and current market conditions.

Renting

You typically need identification, proof of income, rental application, and references to rent a property.
Rent typically covers the property cost and may include utilities, maintenance, or amenities.
A typical lease agreement usually lasts 12 months, but can vary from month-to-month to several years.

Financial

A mortgage is a loan used to buy a property, paid back over time with interest.
Closing costs are fees paid at the end of a property purchase for services and taxes.
Yes, many programs offer assistance and benefits specifically for first-time homebuyers.