F.A.Q.s for Buyers

  • Q -why should I buy a home rather than renting?

    Ans- it's very common question asked by many people , my first and simple Answer to them is that if you are renting,
    you are paying the mortgage of other people. Other than this there are also some other factors to support my opinion that why we should buy
    1- you will feel pride of ownership
    2- There will be complete privacy in your own home comparative to sharing with someone else
    3-Equity will be build in your own home as value appreciates with time
    4-In emergency you can borrow money against your home
    5-Owning your own home is a forced saving plan
    6-Over the time the mortgage balance decreases and equity builds as you pay mortgage payments

  • Q-How can I decide which community I should Live in?

    Ans- Depending on individuals needs one should select the community with good schools, college, university , hospital, good transportation facility, nice parks ,playgrounds, shopping centres etc. are the important factors you should find out before making your decisions

  • Q-How much money I need for down payment and for other expenses?

    Ans-A minimum 5% is required to buy a home and approximately 1.5% -2% can be closing cost

  • Q-Which is the best time in the year to buy home?

    Ans- People buy and sell homes throughout the year. So you can buy any time.

  • Q-When we should start looking for mortgage?

    Ans-It's the best practice to the get the pre -approval from a mortgage lender to avoid any hassle after buying the home.

  • Q- What is Pre-approved mortgage?

    Ans-When a lender guarantee the interest rate for a specified period of time ,normally 60-90 is called pre-approved mortgage

  • Q- Can I free my home (pay mortgage) sooner?

    Ans-Yes, there are many methods by which you can pay off your mortgage sooner. Under mentioned are some methods
    1-By selecting accelerated payments schedule ( by-weekly is the best method)
    2-Depending on lenders policy you can make the prepayments in principal amount
    3-By selecting shorter amortization period

  • Q- What are the other monthly expenses of owning a home?

    Ans-1-Monthly Mortgage
    2-Propety Tax
    3-Utilities (water, hydro, gas)
    4-Home Insurance(Fire insurance) etc.

  • Q- I am thinking to buy for investment, should I wait and watch the market for best possible price?

    Ans - For real estate this formula is very effective, Don't wait to buy, rather Buy and then wait.( gradually the real estate market will go up)

F.A.Q.s for Sellers

  • There are some reasons that sellers put their properties in the Market
    1. Buying bigger home (upsizing)
    2. Buying smaller home (downsizing)
    3. Relocating ( moving to another community, city etc.)
    4. Sellers wants equity from their property
  • Q- How can I know what is the price of my property?

    Ans- The best way is appraisal or valuation of your property. The important factors to know the price is determined by recent similar properties sales in the area

  • Q- What I should do to get the best possible price?

    Ans- There are many thing you can do for quick sale with best price. Some are listed below-

    1. Curb Appeal- It is said that you can only make one" First Impression" as people usually form their first impression in 30 seconds. The front of your house is good place to spend some extra time and money. Plant flowers, trim bushes & weed, repair or paint your front door and garage door if needed, park you old car somewhere else.
    2. Clean and paint your home from inside if needed.
    3. Fix your taps, showers, toilet tanks
    4. Eliminate clutter - This may be the hardest rule of all ! We love our clutter-it reflects our memories, hobbies and values. But it doesn't sell homes! as its makes homes seem smaller and disorganised.
    5. Netural colours sell it fast. try to convey an image of quality and neutrally
    6. De-personalize-remove objects like political, religious etc. items as it may turn off whole group of buyers because they can't imagine your home as their home.
    7. Always keeps your pets under control. No pet smell should come out from your home.
    8. Make sure that you have adequate lighting in every room and area.

  • Q-Should I do the home inspection before listing my property?

    Ans- This is very good practice, by this you come to know about any problem with windows, doors, heating ,air conditioning, plumbing, walls, floors, ceiling electrical, roof, attic, insulation, foundation and basement. You can fix the problems if you want to avoid any misrepresentation and even lawsuits. On the other hand you can get low price offer and also home inspection by buyers side the other home inspector will find them too.

  • Q- What is open house and what should I expect from it?

    Ans-Open house is generally an open invitation to people to see the property on a certain date and time. Mostly its is conducted by realtor/Salesperson. It is very effective marketing process for prospective buyers to look into your property .

  • Q-What is the closing process?

    Ans- When some realtor bring the offer for their client , you will sit with me at table and buyer's salesperson will present the offer with price, date of closing and other concerns like list of including and excluding items. We will discuss and negotiate with everything if needed till both parties aggress on all points. Then both parties will sign on the documents.