Atlanta Real Estate FAQ

Is there a difference between a realtor and a real estate agent?

Yes! REALTOR® pertains to real estate professionals who are recognized members of the National Association of REALTORS®. Such professionals are expected to subscribe to a strict Code of Ethics. Not all real estate agents have this title.

Is there a difference between “pre-qualified” and “pre-approved?”

Yes. If you’ve been pre-qualified, then a loan officer has helped you determine what price is affordable for your down payment, debts, and mortgage. If you’ve been pre-approved, then a lender has already approved your credit and employment funds.

What should the home inspection include before I purchase?

The following should be evaluated before you agree to purchase a home: roofing, foundation, ventilation, insulation, heating / air conditioning, plumbing, electrical systems, septic tanks, sewer lines, wells, ceilings, walls, floors, and hazardous material concerns. For a more extensive list, call Realty 1st at 678-221-3333.

What is earnest money?

Part of making an offer on a home involves putting up an earnest money deposit. This deposit serves as a sign of good faith that you are serious in buying the home. The earnest deposit will be rolled into the purchase price of the home and then held in a trust account until the offer has been officially accepted. Most earnest money offers are between 3-5% of the offer amount.

What are closing costs?

The accumulation of charges that is paid to all of the entities associated with the buying and selling of a property is what is referred to as closing costs. These costs are typically about 4-6% of the total sales price of the property.

If you have more concerns about buying or selling a home, can call our office at 678-221-3333.