Frequently asked questions
Sometimes real estate jargon is not always clear to those who don’t do it day in and day out. Below you will find some FAQ’s that might help you during your home purchase or sale.
What does "Pending" status mean?
Pending status means that the home is in full contract. The buyer and the seller have signed a contract of sale which will then proceed to a closing of the property. In this status, the house is no longer able to be seen.
What does "1st Accepted" status mean?
1st Accepted status means that the the home owner has accepted an offer and may or may not still be showing the property. If the owner is still showing the property, your offer will be held as a backup offer in case the 1st offer falls through.
Should I talk with a bank before looking at homes?
It is advised to speak with some kind of mortgage professional so you know how much house you can afford. Also when making offers, a lot of the time you will be asked to submit a pre-approval or pre-qualification with your offer. Without one, your offer may not be taken seriously until you get one.
Do I really need a Realtor when buying a home?
You do need a Realtor when buying a home that is listed with a Realtor. Whether you use the agent who is the listing agent of the property or another agent from another company, you do need a Realtor to buy a home.
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