FAQs

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FREQUENTLY ASKED QUESTIONS

  • What is the importance of a home inspection, and should I get one?

    A home inspection is a crucial step in the homebuying process that involves hiring a qualified inspector to assess the condition of a property and identify any potential issues or defects. While not mandatory, a home inspection provides valuable insights into the property's overall condition, allowing buyers to make informed decisions and potentially negotiate repairs or adjustments to the purchase agreement. It is highly recommended that buyers obtain a home inspection to mitigate risks and ens

  • What is the difference between a fixed-rate and adjustable-rate mortgage (ARM)?

    A fixed-rate mortgage offers a set interest rate and monthly payment for the entire loan term, providing stability and predictability for borrowers. In contrast, an adjustable-rate mortgage (ARM) has an interest rate that can fluctuate periodically based on market conditions, potentially resulting in lower initial payments but increased uncertainty over time.

  • What are closing costs, and who pays for them?

    Closing costs are fees and expenses associated with finalizing a real estate transaction, including lender fees, title insurance, appraisal fees, attorney fees, and taxes. Both buyers and sellers typically incur closing costs, although the specific allocation varies by location and negotiation. Buyers often pay for expenses such as loan origination fees and title insurance, while sellers may cover costs like real estate agent commissions and transfer taxes.

  • How do I determine the value of my property?

    Property valuation involves assessing various factors such as location, size, condition, comparable sales, and current market trends. A common method is to hire a professional appraiser or real estate agent who can conduct a comparative market analysis (CMA) to determine a property's market value based on recent sales of similar properties in the area.