Genulne - Real Estate Company

Everything You Need To Know

Navigating the real estate market can be complex, whether you’re a first-time homebuyer, a seasoned seller, or an investor. Here are answers to common questions to help you make informed decisions.

Home Buying Home Selling

The first step is to assess your budget and get pre-approved for a mortgage. This will help you understand how much you can afford and make your offers more attractive to sellers.

Look for an agent with experience in your target area, positive reviews, and strong negotiation skills. Referrals from friends and family can also be helpful.

Pay attention to the condition of the roof, plumbing, electrical systems, and foundation. Also, consider the neighborhood, commute, and potential for future resale value.

Your budget should be based on your income, existing debts, and credit score. Mortgage lenders typically recommend that your monthly housing costs do not exceed 28-31% of your gross income.

A home inspection is a professional evaluation of the property’s condition, including structural components and major systems. It helps buyers avoid costly surprises after purchasing.

Closing costs include lender fees, title insurance, appraisal fees, and legal fees. They typically range from 2% to 5% of the home's purchase price.

Pre-qualification is a quick estimate based on self-reported financial information. Pre-approval is a more detailed assessment where lenders verify your income, credit score, and financial documents, giving you a stronger buying position.