Answer: The down payment is typically around 5-20% of the property price, depending on the bank’s terms and the buyer’s qualifications.

Most states require real estate sales professionals to be licensed by the state, so that they can control education and experience requirements and have a central authority to resolve consumer problems. The terminology used to identify real estate professionals varies a little from state to state. Brokers are generally required to have more education and experience than real estate salespersons or agents. The person you normally deal with is a real estate agent or salesperson. The salesperson is licensed by the state, but must work for a broker. All listings are placed in the broker’s name, not the salesperson’s. A broker can deal directly with home buyers and sellers, or can have a staff of salespersons or agents working for him or her.

Answer: The process typically takes around 1-3 months on average, depending on steps such as title deed verification, loan approval, and preparation of the necessary documents.

A real estate salesperson is more than just a “sales person.” They act on your behalf as your agent, providing you with advice and guidance and doing a job – helping you buy or sell a home. While it is true they get paid for what they do, so do other professions that provide advice, guidance, and have a service to sell –such as Certified Public Accountants and Attorneys

The Internet has opened up a world of information that wasn’t previously available to homebuyers and seller. The data on listings available for sale is almost current – but not quite. There are times when you need the most current information about what has sold or is for sale, and the only way to get that is with an agent.

If you’re selling a home, you gain access to the most buyers by being listed in the Multiple Listing Service. Only a licensed real estate agent who is a member of your local MLS can get you listed there – which then gets you automatically listed on some of the major real estate web sites. If you’re buying or selling a home, the MLS is your agent’s best tool.

However, the role of an agent has changed in the last couple of years. In the past, agents were the only way home buyers and sellers could access information. Now agents are evolving. Because today’s home buyers and sellers are so much better informed than in the past, expertise and ability are becoming more important.

The real estate agent is becoming more of a “guide” than a “salesperson” — your personal representative in buying or selling a home.

Answer: Buyers can apply for a bank loan by preparing documents such as salary slips, bank statements, and details of the property they wish to purchase. Loan approval typically takes 1-2 weeks.

Answer: Yes, additional costs include transfer fees, mortgage registration fees, taxes, and lawyer fees (if applicable).

Answer: Generally, monthly rent should not exceed 30% of your monthly income to ensure financial stability for other expenses.

Answer: Typically, the rental deposit is equivalent to 1-2 months’ rent, along with 1 month’s rent paid in advance, making it the total amount required before moving in.

Answer: Typically, rental agreements have a duration of 1 year, but some places may offer shorter terms, such as 3 or 6 months, depending on the agreement.

Answer: Typically, the landlord is responsible for common area fees, while the tenant is responsible for utilities such as water, electricity, and other monthly expenses.