Real State

In this section you will find a full list of questions and answers provided by our specialized staff.

1)  How do I choose a property to buy?

Whether you need to live in the property or you are buying it for its resale value, you need to try to find property in a location that is going to appreciate the most.  Therefore you need to stick to the most common phrase in real estate literature which says “Location-Location-Location.”

2)  What is a short sale?

A short sale is when a lender accepts a discount on a mortgage to avoid possible foreclosure, auction, or bankruptcy.  Basically, you are buying the home from the lender at a discount.

3)  How do I know if I am ready to buy a home?

 When considering buying a home you must have a steady source of income, a good record of paying your bills, few outstanding long term debts, money saved for a downpayment (at least 20% of the home price is advised), have the ability to pay the mortgage and other additional expenses.  If you lack one or more of these requirements, then you should seriously reconsider before buying a home.

4)  Is an older home a better value than a new one?

There is no definite answer. One should evaluate each house for its individual characteristics.

5) Do I really need Homeowner’s Insurance?

YES.  You need to protect your assets and a paid homeowner’s insurance is required at the time of closing.