What is an Earnest Money Deposit?
An earnest money deposit is essentially a deposit on the property that you're looking to buy. As a general rule, you can expect to pay...
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TOCR Real Estate School
Feb 21, 20231 min read
What Are Closing Costs?
Closing costs are the fees you pay as part of a purchase agreement for residential property. Sellers have closing costs as well related...
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TOCR Real Estate School
Feb 21, 20231 min read
What is a CMA (Comparative Market Analysis)?
An agent will use real estate comparables in order to determine the market value for a particular property. The acronym for this real...
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TOCR Real Estate School
Feb 13, 20231 min read
What is a Neighborhood Association?
A Neighborhood Association is a voluntary membership organization that deals with social, political, zoning and other issues which...
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TOCR Real Estate School
Feb 13, 20231 min read
What is a Lien?
A Lien is an interest in property granted by the owner of that property, to another party (the lienholder), until the property owner...
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TOCR Real Estate School
Feb 13, 20231 min read
What is a Fixture?
A Fixture is a personal property which is permanently affixed or attached to real property such that it is considered to be an integral...
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TOCR Real Estate School
Feb 13, 20231 min read
What is a Deed of Trust?
A Deed of Trust is one form of real estate security agreement granting a security interest in real estate which typically contains a...
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TOCR Real Estate School
Feb 13, 20231 min read
What is Amortization?
Amortization is the gradual elimination of a liability, such as a mortgage, in regular payments over a specified period of time. Such...
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TOCR Real Estate School
Feb 6, 20231 min read
What is a Foreclosure?
A property goes into foreclosure when the homeowner misses mortgage payments and the lender tries to recover the balance of a loan....
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TOCR Real Estate School
Feb 6, 20231 min read
What Does Transfer of Ownership Mean?
Transfer of ownership is when a property has a new owner who purchased it and assumed its mortgage debt. Considering a career in real...
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TOCR Real Estate School
Feb 6, 20231 min read
What Does Under Contract Mean?
Being under contract refers to a prospective buyer and seller reaching an agreement on a property. At this early stage, both parties are...
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TOCR Real Estate School
Feb 6, 20231 min read
What is Pre-Approval?
The pre-approval process involves a potential lender or bank reviewing an individual's finances, including their income, assets, and...
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TOCR Real Estate School
Feb 6, 20231 min read
What is a Fair Market Value?
The fair market value is the amount a property would sell for in a competitive market, or when a seller and buyer can agree on the price...
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TOCR Real Estate School
Feb 6, 20231 min read
What Does Assessed Value Mean?
When a county, village, city, or town hires an assessor to determine the value of a property for tax purposes. Considering a career in...
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TOCR Real Estate School
Feb 3, 20231 min read
What is Blockbusting?
Blockbusting is for profit, to induce or attempt to induce any person to sell or rent any dwelling by representations regarding the entry...
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TOCR Real Estate School
Feb 2, 20231 min read
What is a Beneficial Title?
A beneficial title is an equitable title to real property retained by a mortgagor or trust conveying legal title to secure a mortgage...
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TOCR Real Estate School
Feb 1, 20231 min read
What is an Area Variance?
Area variance is permission to use land in a manner that is not normally allowed by the dimensional or physical requirements of a zoning...
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TOCR Real Estate School
Jan 31, 20231 min read
What is Capital Improvement?
Capital improvement is an item that adds value to the property, adapts the property to new uses, or prolongs the life of property....
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TOCR Real Estate School
Jan 31, 20231 min read
What is an Acceleration Clause?
An acceleration clause is a provision in a mortgage or deed of trust that permits the lender to declare the entire principal balance of...
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TOCR Real Estate School
Jan 30, 20231 min read
What is a Title?
A Title is a legal document which states who has owned a property in the past and notes any liens associated with it. View our upcoming...
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