What Are Closing Costs?
Buyers and seller both have expenses associated with the home sales other than that of the actual cost of the home. For example, the...
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ngramuglia3
Jun 20, 20231 min read
What are Hidden Amenities?
Assets of a property which contribute to its value, but are not readily apparent. Examples might include upgraded or premium building...
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ngramuglia3
Jun 20, 20231 min read
What is a Relocation Service?
Any company or agency that assists corporate employees in relocating from one place to another. Services may include hiring and...
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ngramuglia3
Jun 20, 20231 min read
What are Metes and Bounds?
A traditional way of describing property, generally expressed in terms of distance from a known landmark or intersection, and then...
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ngramuglia3
Jun 20, 20231 min read
What is a Leasehold Estate?
A type of property ''ownership'' where the buyer actually has a long-term lease on the property. Considering a career in real estate?...
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ngramuglia3
Jun 20, 20231 min read
What is an Absorption Rate?
The ratio of the number of properties in an area that have been sold against the number available. Used to show the volatility of a...
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ngramuglia3
Jun 5, 20231 min read
What is a Lease Option?
A lease option is like rent-to-own for real estate. It gives the lessee the ability to lease property with the option to buy. It includes...
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ngramuglia3
Jun 5, 20231 min read
What is a Homeowner's Association?
A homeowner’s association (HOA) is usually found when you purchase a condominium, townhome, or other development property. To purchase...
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ngramuglia3
Jun 5, 20231 min read
What is a Fixed-Rate Mortgage?
A fixed-rate mortgage is one of the most common types of loans. It comes with an interest rate that stays the same for the lifetime of...
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ngramuglia3
Jun 5, 20231 min read
What is Encroachment?
When a property owner violates the rights of a neighbor by building or adding on to a structure that extends onto a neighbor’s land or...
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ngramuglia3
Jun 5, 20231 min read
What is a Call Option?
A call option is a contract giving one party the right to buy and another party the right to sell a piece of property at a future time...
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ngramuglia3
Jun 5, 20231 min read
What is an Active Contingent?
When a seller accepts an offer from a buyer, that offer is contingent upon the buyer’s ability to meet certain conditions before...
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ngramuglia3
Jun 5, 20231 min read
What is an Acceleration Clause?
Also known as an acceleration covenant, this is a contract provision requiring the borrower to repay all of their outstanding loan to a...
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ngramuglia3
May 30, 20231 min read
What is an Exclusive Listing?
An exclusive listing occurs when a seller contractually agrees to work with only one broker. In contrast, an open listing means the...
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ngramuglia3
May 30, 20231 min read
What is a Home Inspection?
A home inspection examines a home’s condition to find any major safety or structural issues. Inspections usually look at a home’s...
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ngramuglia3
May 30, 20231 min read
What is a Title?
A title shows ownership of a property. It differs from a deed in that a deed is a physical document and a title is not. Title represents...
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ngramuglia3
May 30, 20231 min read
What Are Comparables?
Comparables are recently sold properties that help appraisers determine a home’s fair market value. They are similar to the listed...
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ngramuglia3
May 30, 20231 min read
What is a Purchase Agreement?
A purchase agreement is a contract between a buyer and seller stating the terms of the home sale. It may stipulate conditions like sale...
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ngramuglia3
May 30, 20231 min read
What is Preapproval?
Preapproval is the process of establishing what a borrower can reasonably afford when taking out a loan. Lenders will look at your...
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ngramuglia3
May 22, 20231 min read
What is a Comparative Market Analysis?
A comparative market analysis (CMA) is something a real estate agent will complete to determine a home’s value and the asking price when...
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