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FAQ
| Ques: Which makes the most sense as an investment -newer home in the modern neighborhood or updated home in older neighborhood? |
| Ans: A lot depends on why you are buying the house. Are you buying it mostly as a home or mostly as an investment? There is a difference. |
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| Ques: What is lease option? |
| Ans: It means leasing or renting a property with an option to buy it at a future date. The future price of the property is fixed at the time it is given on lease. |
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| Ques: What is sale deed? |
| Ans: Sale deed is a document by which the seller transfers his right to the purchaser, who, in turn, acquires an absolute ownership of the property. |
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| Ques: Should I inspect a property before I buy it? |
| Ans: Yes, Buying a home is the largest single investment you make in the life. By inspecting the property one can minimize unpleasant surprises and difficulties at a later stage. |
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| Ques: Can I repay the loan ahead of schedule? |
| Ans: Yes, you can but some housing finance company charge a pre-payment penalty. |
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| Ques: What is an EMI? |
| Ans: Repayment of home loan is done by Equated Monthly Installments (EMI). It is to be paid every month through post dated cheques or through direct deductions from the salary. |
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| Ques: Should I use a real estate broker? |
| Ans: Using a service of real estate broker is a very good idea. One can get all the details involved in home buying. He/she will guide you through the entire process, paper works and also help you figure the price range you can afford. |
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