Frequently Asked Questions
Buying and selling a home is not something that most people do on a regular basis. It a huge decision with a lot of foreign and new concepts. Hopefully some of the answers below will help you better understand. You can also send me a question on the contact page, the only bad question is the one that you don't ask.
What is a REALTOR?
A REALTOR is an agent or agent that belongs to the local board of REALTORS and is affiliated with the National Association of REALTORS. They follow a strict code of ethics beyond state license laws and also sponsor the Multiple Listing System (MLS), which is used to list houses for sale. REALTOR is a trademark of the National Association of Realtors.
What are comparables or comps?
These are referred to as recently sold properties that are similar in size, location, and amenities to the home for sale. These properties help an appraiser determine the fair market value of a property.
What are closing costs?
Closing costs are expenses incurred by buyers and sellers in transferring ownership of a property.
How does purchasing a home compare with renting?
It is tough to compare these two. Renting has many advantages such as being free from most maintenance responsibilities. However, you do lose the chance to build equity, take advantage of tax benefits, and protect against rent increases. Owning a home has many benefits. When you make a mortgage payment you are building equity, which is an investment. You have additional freedoms and securities that come with owning your own home.
How do I make an offer?
This is something that I will assist you with. The following information will be needed: property description, earnest money deposit, down payment and financing details, price, closing date, and additional deal details.