Phone: (510) 523-6058
FAX: (510) 523-3360 Open Homes Email Updates Contact Us


Here is a collection of frequently asked questions that I have put together to help you in buying or selling a home. 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.



Can a home depreciate in value?
Is an older home as good a value as a new home?
What are closing costs?
What does FSBO mean?
What is a "One-Time Show" listing?
What is a broker?
What is a contingency?
What is a debt-to-income ratio?
What is a Multiple Listing Service (MLS)?
What is a REALTOR®?
What is an escrow officer?
What is homeowners association (HOA)?
What is the difference between being prequalified and preapproved for a loan?
What is title insurance?
What's the Difference between a "Listing Agent" and "Selling Agent"?
Why should I use a real estate agent?


Are lenders limited in the amount of escrow funds they can collect from borrowers?
Can I pay my own taxes and insurance?
How can I avoid private mortgage insurance?
How is interest calculated on a mortgage loan?
How long does the loan process take?
How much time will it take to close my loan (sign the loan documents)?
Is there a minimum credit score?
Must I use the mortgage company that my builder directs me to?
Should discount points be paid to lower (buy down) an interest rate?
What are the benefits of doing a first and second lien conbination?
What benefits do I receive from private mortgage insurance?
What do I do if I receive a tax statement?
What does Prepaid Interest mean?
What does the origination fee cover?
What is a gift letter?
What is a lock in?
What is an ARM loan?
What is an escrow account?
What is my credit score and how is it calculated?
What is PITI and what does it stand for?
What is preapproval or prequalification?
What is underwriting?
Why did my mortgage payment amount change?
Why does the title have to be cleared before I can get a mortgage?
Why is the Annual Percentage Rate (APR) on the Truth in Lending Disclosure higher than the rate shown on my note, which is the rate I thought I chose?


Can I back out of my contract with one buyer and accept a new, higher offer from a second buyer?
Do I have to sell to the person with the highest offer?
How should I price my home?
Is there a "best time" to put my house on the market?
What are comparables or comps?
What are disadvantages of pricing my home on the high end?
What does an appraisal mean?
What is a counteroffer?
What is an "Exclusive Right to Sell" listing?
What is an "Exclusive Agency Listing"?
Who is responsible for making repairs, if any, as a result of home inspection reports conducted for the buyer?
Why should I use a real estate agent?

Tony Berg
Kane and Associates
Ph: 510-523.6058Fax:510-523-3360
879 Island Drive
Alameda, CA 94502  US
BRE License # 00530632
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