FAQ in Real Estate

By Rosalind Sabari

1. What is the first step of the home buying process?

The first step to anything in life is the human mind. You must first psychologically make the decision to buy a home. Only when you’ve made that resolution, will you see tangible progress. And going by the fact that you are here reading this blog, I won't be wrong to assume that you’ve already made that call. 

So the only other thing left for you to do is to crunch down the numbers and formulate a workable plan. Are you patient enough to save up every penny, or are you in a rush and a loan from your local bank makes more sense? Weigh the options and make a call based on your financial situation! You’ll be just fine if you walk along the confines of reality. 

2. How long does it take to buy a home?


The duration it takes to buy a home depends entirely on your saving capability and purchase plan. For instance, if you choose to buy a home via mortgage, you may spend years paying the debt. You may have moved into the house, but it won’t be yours until you’ve paid off the last penny and the deed gets signed in your name! 

Another factor that determines how long it’ll take to complete the purchase of your home is the number of people saving towards paying off the mortgage. If you are single it may take longer but if you have a partner or friend you might be done with the payments in half the time! So long story short, it all depends on how fast you can fill out the details on a one-off check, or your saving capabilities! 



3. What is a seller’s market?

In a seller's market, a seller often can sells goods and services at a higher cost. For instance, a seller's market means that a lot of buyers are competing for houses, and they are therefore more likely to pay more money for their homes.

The demand is high and the supply is low, so the sellers will push you under a bus for a few extra bucks.You definitely don’t want to be in such a situation, unless you are Bill Gates, or myself! 😉




4. What is a buyer’s market?


Well this is basically the opposite of a seller's market. A market whereby the buyers are few and the sellers are many.

This means that the sellers are desperate and as a result  you are likely to get a good price. And even then you can negotiate the price further! Be ruthless and take the figure as low as you possibly can because such markets are hard to find!

If you somehow miraculously happen to have the gift of spotting a buyer’s market, you are going to cruise through life like a Red Box Chevy! I don’t doubt it.


On the link below you’ll find a great option for your first home. Do yourself a favor and check it out. 


For any follow up questions you can reach me by clicking on the link below! Once again thank you for tuning in, we post real estate blogs and insights every Friday so don’t forget to bookmark our website as you check out. Have yourself a great day/night ahead.