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Real Estate FAQs
The first step in the home buying process is getting pre-approved for a home loan. This helps you understand your budget, improves your credibility with sellers, and allows you to search for properties that fit your financial capacity.
The home buying process typically takes between 30 to 60 days. This timeline can vary depending on loan approval, property verification, legal documentation, and final registration.
An escrow account is a secure account where a third party holds funds during a real estate transaction. It ensures that payments such as property taxes, insurance, or advance amounts are released only when all contractual conditions are met.
A contingency is a condition that must be fulfilled for the property sale to proceed. Common contingencies include home loan approval, property inspection, legal clearance, and title verification.