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Sometime during your buying or selling experience you will have questions or will need the definition of a word or phrase. Here we have supplied links to frequently asked questions, moving tips and definitions to some of the terms you may run across. In most cases your Realty Professional Agent will be the best source for answers to your questions.

Frequently Asked Questions

What is the MLS and how does it work?

The Multiple Listing Service is a computerized information network that contains virtually all the homes listed for sale through all realty companies. When you hire an agent to sell your home, that agent will contact the MLS and "list" the home into the database, entering the data about the price, number of bedrooms, location, etc.

When you contact an agent to buy a home that agent will access the MLS in search for a home that meets your needs. He will then give you a choice of multiple houses to look at.

What is a closing?

The closing is the date the buyer, seller and the lender agree to meet and legally transfer the property and disperse all the funds.

How much home can I afford?

Typical mortgage requirements say that if you have an average debt load, you can obtain a mortgage between two and three times your annual income.

What is an appraisal?

This is an estimate of the value of the property you intend to buy or refinance.

The information on this web site is deemed to be correct but is not guaranteed. All properties or information contained on this site are subject to prior change, modification, sale or withdrawal from the market. ©Copyright 1999 Realty Professionals. All Rights Reserved.