Common questions from buyers and sellers in Albany, Latham, and the Capital Region — answered by NYS licensed realtor Asad M Butt.
Buyer Questions
Start with mortgage pre-approval — contact a lender and get a pre-approval letter so you know your budget. Then reach out to Asad for a free buyer's consultation. He'll help you narrow down neighborhoods, set up listing alerts, and guide you through every step from offer to closing.
You can buy with as little as 3–3.5% down. FHA loans require 3.5% (with a 580+ credit score). SONYMA and conventional HomeReady loans allow 3% down. Down payment assistance programs like SONYMA's DPAL can cover up to $15,000. A 20% down payment eliminates PMI but is not required.
Minimum 580 for FHA (3.5% down), 500–579 for FHA with 10% down, and 620 for most conventional and SONYMA loans. The higher your score, the better your interest rate. Buyers with 740+ typically qualify for the best rates available.
From accepted offer to closing: typically 30–45 days in the Capital Region. From starting your search to closing: usually 2–4 months, depending on how quickly you find the right home and market competitiveness. In a hot market like 2026's Capital Region, being pre-approved and ready to move fast is critical.
In most transactions, the buyer's agent commission is paid by the seller, not the buyer. As of 2024, new NAR rules require a buyer-agent agreement upfront, but negotiation on who covers the fee is still standard. Asad's representation gives you expert negotiation, MLS access, and full-service support — usually at no direct cost to you.
Buyers in New York typically pay 2–5% of the purchase price in closing costs. This includes lender fees, title insurance, attorney fees, transfer taxes, and pre-paid items (insurance, property taxes). On a $338,000 home, expect $6,750–$16,900. See the full NY Closing Costs Guide.
Seller Questions
The best way to know is a free Comparative Market Analysis (CMA) from Asad — not a Zestimate (which carries a 6.9% median error). A CMA uses actual recent sales of similar homes in your neighborhood. Request your free valuation →
In the current Capital Region market, well-priced homes are selling in 14–21 days on average. Homes in top school districts and move-in-ready condition often receive multiple offers within 48–72 hours of listing. From accepted offer to closing typically takes 30–45 days.
Sellers in New York typically pay 6–10% of the sale price in total costs, including: real estate commission (typically 5–6%), NY transfer tax ($4 per $1,000), attorney fees ($1,000–$2,000), and any agreed buyer concessions. On a $338,000 sale, expect $20,000–$34,000 in total closing costs.
Usually not major renovations — they rarely return their full cost. Focus on high-ROI updates: fresh paint (neutral colors), deep cleaning, decluttering, minor repairs, and curb appeal. Asad will walk through your home before listing and give you a prioritized list of what actually moves the needle on price.
General Questions
Yes — Asad is fluent in English, Hindi, Urdu, Punjabi, and Pashto. He serves the South Asian community and all immigrant families in the Capital Region with the same level of professionalism and dedication.
Asad serves the entire Capital Region including Latham, Albany, Colonie, Guilderland, Troy, Schenectady, and surrounding communities. He is licensed throughout New York State and can assist with transactions anywhere in the state.
For sellers: yes — the Capital Region is a strong seller's market in 2026 with homes averaging 102% of asking price and just 18 days on market. For buyers: the right time depends on your personal readiness (job stability, credit, savings). Waiting for prices to drop in this market is risky. Contact Asad for a personalized assessment.
Asad M Butt
NYS Licensed Realtor — Lic. #10401361634
Still have questions? Asad is always available for a free, no-pressure conversation — in English, Hindi, Urdu, Punjabi, or Pashto.
