General questions
What is the role of a real estate agent?
Real estate agents facilitate the buying, selling,or renting of properties. They assist clients in finding suitable properties, negotiating deals and completing paperwork.
How do I determine the value of a property?
Property value is influenced by factors like location, size, condition, comparable sales and market trends. A real estate agent or appraiser can help assess the value.
What is a mortgage and how does it work?
A mortgage is a loan used to purchase real estate, secured by the property itself.
What are closing costs?
Closing costs are fees associated with finalizing a real estate transaction, such as appraisal fees, title insurance, legal fees and taxes. Buyers and sellers typically share these costs.
What is escrow?
Escrow is a neutral third party that holds funds and documents during a real estate transaction until all conditions are met. It ensures that both parties fulfill their obligations before the deal is finalized.
What is a down payment and how much do I need?
A down payment is a portion of the property's purchase price paid upfront by the buyer. The amount required varies but is typically between 10- 50% of the purchase price.