Frequently Asked Questions

how much does it cost to go look at houses with an agent?

As far as I know… NOTHING. I’ve never charged a penny to show homes to an interested buyer. There may be a different approach at larger agencies, but that’s just one more reason for you to use Banister Real Estate.

What is a REALTOR® ?

Not just an agent! They’re professional members of the National Association of REALTORS® and must adhere to its strict code of ethics, which is based on professionalism and protection of the public. As a REALTOR®’s client, you can expect honest and ethical treatment in all transaction-related matters. The first obligation is to you, the client.

what about my credit score?

The minimum score required depends greatly on the type of loan you use. You don’t need a score of 780, but something higher than 600 would increase your options. Talk to your lender about ways to improve your current score.

do i need an inspection?

Although it may not be required, I definitely recommend it. The more you know about a home before you own it, the more equipped you are to maintain it! Licensed professional home inspectors are a fabulous resource to help prepare buyers for their new property.

what does contingency mean?

A contingency is just a specific requirement that gets written into your contract. That requirement must be met for the contract to be valid. A common contingency would be finalizing the sale of a current home before the purchase of a new home.

prequalified vs. preapproved - what’s the difference?

Prequalified means there is POTENTIAL for you to get a loan. This assumes that you gave accurate and complete information to your lender. Preapproval means the lender IS WILLING to give you a loan, after they’ve assessed your credit history, tax returns, and other required documents.

how fast can i close?

Most lenders appreciate 30-45 days. This also gives adequate time for inspections and appraisals. Cash offers may be able to close significantly faster.

do i have to accept the first offer a buyer presents?

Nope. In fact, it’s a little unusual for a seller to receive an offer that doesn’t require a bit of negotiation. In addition to price, you can consider things like closing date, repairs, and loan type.