Frequently Asked Questions
Question about selling
To sell a property, follow these steps:
- Assess your property’s value with a professional.
- Prepare the property for sale (cleaning, repairs, improvements).
- List the property with a real estate agent or on digital platforms.
- Negotiate offers and accept the best option.
- Complete the legal paperwork and sign the deed of sale.
The selling time varies based on location, price, and market demand. On average, it can take 30 to 90 days, though well-priced properties in desirable areas may sell faster.
Selling with a real estate agent offers advantages like better negotiation, greater exposure, and help with legal procedures. However, if you sell on your own, you must handle the promotion, negotiations, and paperwork.
When selling, you may face costs such as:
- Capital gains tax (depending on local laws).
- Notary fees and deed costs.
- Real estate agent commissions (if applicable).
- Mortgage cancellation fees (if there is an outstanding loan).
The price should be based on a market analysis, considering:
- Location and property features.
- Recent sale prices in the area.
- Current market conditions and demand.
- Professional appraisals.
Question about renting
Most landlords require:
- A valid ID or passport.
- Proof of income (pay stubs, tax returns, or bank statements).
- A credit report and rental history.
- A security deposit and sometimes the first month’s rent upfront.
A typical lease lasts 12 months, but there are options for short-term (3–6 months) or long-term (over a year) rentals, depending on the landlord’s terms.
Beyond rent, tenants may need to pay for:
- Utilities (electricity, water, internet, gas).
- Security deposit (usually one or two months’ rent).
- Maintenance fees (if applicable).
- Renter’s insurance, which some landlords require.
No, the landlord cannot raise the rent during an active lease agreement unless the contract states otherwise. However, rent can increase when renewing the lease, based on market conditions.
If you terminate your lease early, you may:
- Lose your security deposit.
- Be required to pay penalties or the remaining rent until a new tenant is found.
- Negotiate an early termination agreement with the landlord.
