Real Estate Frequently Asked Questions for Wayne Barnett

F.A.Qs

Here is a collection of frequently asked questions that we have put together to assist you. If you have any other questions, not listed here, feel free to call or send an e-mail.

By clicking on any of the questions below, you may view the answer.

Buyers

What is a broker?

What is a contingency?

What is a "One-Time Show" listing?

Why should I use a real estate agent?

What is a Homeowner's Association (HOA)?

What is title insurance?

What is a debt-to-income ratio?

What is the difference between being prequalified and preapproved for a loan?

What does FSBO mean?

What is a REALTOR�?

What is a Multiple Listing Service (MLS)?

What's the difference between a "Listing Agent" and a "Selling Agent"?

What are closing costs?

Can a home depreciate in value?

What is an escrow officer?

Is an older home as good a value as a new home?

Sellers

Why should I use a real estate agent?

Can I back out of my contract with one buyer and accept a new, higher offer from a second buyer?

Who is responsible for making repairs, if any, as a result of home inspection reports conducted for the buyer?

What is a counteroffer?

When is the "best time" to put my house on the market?

How should I price my home?

What is an "Exclusive Right to Sell Listing"?

What are the disadvantages of pricing my home on the high end?

What does an appraisal mean?

Do I have to sell to the person with the highest offer?

What is an "Exclusive Agency Listing"?

What are comparables or comps?