5 Most Common Home Buyers Questions

Buying real estate is exciting and terrifying, all at the same time. There are many steps to the home buying process and each step creates a new set of questions. Knowing the answers to the 5 most common home buying questions can alleviate some of the stress that comes with buying real estate. This article was designed to help you understand the basics of purchasing real estate in Nigeria. Buying a home may seem intimidating, but a good REALTOR will make it much easier. They will take care of you through each step of the process, and make your experience as smooth as possible.

1) What’s the first step of the home buying process?

a) Review your financial health.

Before clicking through pages of online listings or falling in love with your dream home, do a serious audit of your finances. Be sure you are ready financially and when you are sure of this you can move on to the next step.

b) Request a Home Inspection

Another important step is a thorough home inspection. This is different from an appraisal. The home inspector will look for hidden problems with the home. Through the home inspection you can learn about any issues that may prevent you from buying the home. This may include mold problems, termites, foundation problems, water logged and a bad roof. The inspection can save you thousands in repairs later on. Additionally you may be able to negotiate a lower price if you know the home needs a new roof or way too much repairs. 

2) How Long Does it Take To Buy a Home?

This depends on step one above, if you are financially ready and you have carried out all necessary inspections, this could take 25-30 days.

3) What Does A REALTOR Do?

A REALTOR is your most valuable asset when buying a home. They will walk you through every part of the home buying process. They will educate and inform you of all your options. They will represent you throughout the transaction and beyond. A realtor basically does everything concerning your home inspection and purchase. So you need them in every step of the way.

4) What’s Your Best Advice for First-Time Homebuyers?

Trust the professionals and the professionals only!
Beware of advice from people who do not work in the industry. Real estate is a popular topic and almost everyone feels like they have some great insight to offer. In reality, the people who know best are the people that work in the business. Good REALTORS have sold hundreds (maybe thousands) of properties. We know what to expect and what to look out for. Friends and relatives have only bought and sold a few homes, if any at all. Buying and selling a couple of homes does not make someone a well-rounded source of information. Too many first-time buyers become persuaded by well-meaning friends and family, only to be disappointed later. Be confident in your decisions and trust the professionals.

5) When do I get the keys?
At Closing!
Under normal circumstances, you will get the keys at the closing.