Frequently Asked Questions (FAQs)

Real estate refers to property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature.

Property taxes are taxes imposed on real estate by the local government. The amount of tax owed is based on the assessed value of the property and is used to fund public services such as schools, roads, and emergency services.

Escrow is a legal arrangement in which a third party holds funds or assets on behalf of two other parties involved in a transaction, ensuring that all conditions of the sale are met before the transaction is finalized.

Closing costs are fees associated with the purchase of a property that are paid at the closing of a real estate transaction. These costs typically include appraisal fees, title insurance, attorney fees, and property taxes.

 A home inspection is a crucial step in the real estate process where a qualified inspector evaluates the condition of a property before its sale. The inspection typically covers the structural integrity, mechanical systems, and overall safety of the home. During the inspection, the inspector examines various components of the property, including the roof, foundation, plumbing, electrical systems, HVAC (heating, ventilation, and air conditioning), appliances, and more. The inspector then provides a detailed report outlining any issues, defects, or areas of concern discovered during the inspection. 

 An escalation clause is a provision included in a real estate offer to purchase that allows a buyer to automatically increase their offer price if competing offers are submitted. With an escalation clause, the buyer specifies the amount by which they are willing to escalate their offer above any competing offers, up to a predetermined maximum price. This clause helps buyers remain competitive in multiple offer situations by ensuring that their offer remains the highest within the specified escalation parameters. However, it's important for buyers to carefully consider the terms and conditions of the escalation clause, as well as consult with their real estate agent or attorney, to ensure that it aligns with their purchasing strategy and financial capabilities. 

Hiring a local realtor can be highly beneficial for a face-to face as well as  their expertise in the area's real estate market, including insights into pricing trends and neighborhood developments. Local realtors also bring valuable networks that include other realtors, potential buyers, and service providers, which can streamline the transaction process. Additionally, they are well-versed in the specific regulatory environment, ensuring compliance with local zoning and building codes. The convenience of having a realtor nearby also facilitates easier communication and accessibility throughout the buying or selling process.

Using a realtor when buying or selling property offers numerous advantages. Realtors provide invaluable market knowledge and expertise in negotiation, ensuring you get the best possible deal. They handle complex paperwork and legal details, reducing stress and potential errors. Additionally, realtors have access to extensive networks and resources, including exclusive listings and potential buyers, which can significantly speed up the process. Their professional guidance and understanding of local real estate laws and regulations also protect your interests, making them indispensable in real estate transactions.

To find the best local estate agent, start by seeking recommendations from family, friends, and neighbors who have had firsthand experience. Personal referrals can give you insights into an agent's reliability and effectiveness. Additionally, it's crucial to evaluate estate agents based on objective performance data. Compare how quickly they sell properties and how well they do at securing a sale price close to the initial asking price. This approach will help you identify an agent who is not only trusted by people you know but also demonstrates strong professional performance.