Frequently Asked Questions

Select one of the frequently asked questions below to learn more about buying, selling, and renting real estate. Also, begin to think about important things to consider when diving into your real estate search.

Question about selling

Yes, over time, a home may depreciate due to factors such as market fluctuations, physical deterioration, and changes in the surrounding area’s desirability.

The value of an older home compared to a new one depends on factors like maintenance history, renovations, location, and personal preferences. While older homes may offer charm and established neighborhoods, newer homes often feature modern amenities and energy efficiency.

A broker is a licensed real estate professional who acts as an intermediary between buyers and sellers. They assist with pricing, marketing, negotiations, and paperwork, providing expertise and guidance throughout the transaction process.

Yes, homeowners can opt to manage their property taxes and insurance directly. Alternatively, many choose escrow services, where these expenses are included in their monthly mortgage payment, and the lender handles payment on their behalf.

The duration of the loan process varies based on factors such as the lender’s workload, the complexity of the loan, and the timeliness of documentation provided. Generally, it takes around 30 to 45 days from application to closing, though this timeframe can vary.

 

Question about renting

The duration of the lease process varies depending on factors such as the landlord’s requirements, background checks, and negotiation terms. Typically, it can take anywhere from a few days to a couple of weeks to finalize the lease agreement.

Rental properties can depreciate in value due to factors such as market fluctuations, wear and tear, and changes in the neighborhood’s desirability. However, proper maintenance and strategic investments can help mitigate depreciation risks.

Renters insurance provides coverage for personal belongings, liability protection, additional living expenses in case of displacement, and medical payments to others injured on your rental property.

A security deposit is a sum of money paid by the tenant to the landlord before moving in. It serves as financial protection for the landlord against damages to the property or unpaid rent during the lease term.

Restrictions on modifications to the rental property vary depending on the landlord’s policies and the terms of the lease agreement. Typically, tenants may need prior approval for significant modifications, while minor alterations may be allowed with discretion.

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